Humanities and Social Sciences

Central European Journal of Economic Modelling and Econometrics

Content

Central European Journal of Economic Modelling and Econometrics | 2024 | No 1

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Abstract

This paper aims to analyze the impact of public debt on economic growth in eleven EU new member states (NMS) from Central and South-Eastern Europe for the period 2000-2019. More specifically, we investigate if there is evidence of a non-linear (quadratic) relationship in this group of countries. Having in mind different economic and financial development, historical connections, and geographical proximity, we split them into three more homogenous groups: Balkan countries (BAL-4), Baltic countries (B-3), and Visegrad countries (VIS-4). The results of our study in all models indicate a statistically significant non-linear impact of public debt ratios on annual GDP per capita growth rates. The results across all models show a significant non-linear impact of public debt ratios on annual GDP per capita growth rates. Further, the calculated debt-to-GDP turning point, where the positive effect of accumulated public debt inverts into a negative effect, is roughly between 42.7%-58% of GDP, dependent on which sub-group we have analyzed. In general, the research may contribute to a better understanding of the problem of high public debt and its effect on economic activity in the new EU.
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Authors and Affiliations

Burim Gashim
1
Gazmore Rexhepi
2

  1. University “Haxhi Zeka”, Republika e Kosovës
  2. University Fehmi Agani gjakove Rr. “Ismail Qemali”, Republika e Kosovës
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Abstract

This paper explores the relationship between ownership structure and firm performance, using the framework of agency theory. Given a sample of 126 Polish non-financial firms listed on the Warsaw Stock Exchange between 2016-2021, we applied fixed and random effects panel regressions with robust standard errors, tested for specification, endogeneity, cross-sectional heteroskedasticity, and serial autocorrelation. Our models identify several significant associations of adopted ownership structures with firm performance measured by accounting and market-based measures. We find that ownership concentration by the largest shareholder is negatively related to enterprise market-measured performance. Additionally, our results indicate the significance of shareholder heterogeneity.
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Authors and Affiliations

Andrzej Gryko
1
Jakub Cierocki
2
Konrad Celer
3

  1. SGH Warsaw School of Economics
  2. KU Leuven
  3. The University of Edinburgh
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Abstract

We confirm the inflation and well-being correlation scheme while filling the gap in the literature and estimating the effects of inflation perception on wellbeing. We discover the significant heterogeneity in attitudes toward inflation and inflation perception among European countries. While the inflation perception influence on well-being in Eastern Europe is higher than the influence of HICP, for Western Europe, it is the opposite. Both groups differ in terms of the marginal rate of substitution between inflation and unemployment – the effects of higher unemployment are more severe in comparison to the influence of inflation in Western Europe.
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Authors and Affiliations

Łukasz Below
1

  1. SGH Warsaw School of Economics

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The Central European Journal of Economic Modelling and Econometrics bases on a fully electronic editorial system available at cejeme.com, cejeme.org, cejeme.eu or cejeme.pl. This web-based editorial tracking software enables a paper-free operation of the key editorial functions of the Journal. Papers are submitted for publication electronically via electronic system (see the link "Submit article"). Also the system provides free access to the electronic form of each issue. In the review process the Central European Journal of Economic Modelling and Econometrics obeys the double blind policy. Authors submitting articles to the Central European Journal of Economic Modelling and Econometrics must follow the guidelines available at: http://www.cejeme.com/submissionguidelines.aspx. Any manuscript which does not conform to instructions will be rejected.


Submission Guidelines and Instructions for Authors of accepted papers please visit: http://cejeme.org/submissionguidelines.aspx

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