Eastern Journal of European Studies

An investigation of overcrowding among the UK households

Author: Sandeep RAO, Chia-Hao CHOU

Abstract: Despite being a major economic power, the UK has been facing several social issues especially with respect to housing its population. The UK law on housing defines the minimum standards of the housing structure and the number of people occupying a given housing space. In spite of these legal requirements, the census data of housing shows that there is a steady increase in issues of adequate housing for the population and that the overcrowding in UK dwellings is a very common problem. This paper identifies various factors that determine the 'space' dimension of overcrowding in the UK housing market. We find that the 'space' dimension of overcrowding in the UK housing market as indicated by 'the total number of bedrooms households' is significantly related to the joint income of the household personals and tenure type, whereas factors like 'age under sixteen' and 'rurality' are not significant. We use a linear probability (regression) model for discrete dependent variables with multiple responses to test the hypotheses and provide robust estimations. 

Keywords: overcrowding, housing, linear probability model  

Pages: 5-24 | Full text (PDF)

Regional knowledge production in Central and East European countries: R&D factor productivity and changes in performances

Authors: Mustafa Cem KIRANKABEŞ, Abdullah ERKUL

Abstract: In this paper, we analysed regional R&D productivities of Central and Eastern European (CEE) Countries. The regional knowledge production framework is utilized for a total of 52 NUTS-2 regions for the 2001-2012 period. Patent applications to the European Patent Office (EPO) are taken as the main output of R&D activities while input variables are total expenditure on R&D and total R&D personal and researchers. Applied productivity analysis based on Malmquist Index shows that total factor productivity (TFP) of knowledge production increased from 2001 to 2012 in all regions. Considering the whole period, although TFP has partially decreased partially after the 2008 crisis, the regions experienced capacity expansion.  The main sources of the increase in TFP are found to be technological change and capacity expansion. Efficiency change, in contrast, is found to be negative in the majority of regions. Detailed performances are also illustrated with geographical information maps.

Keywords: factor productivity, knowledge production, innovation paradox, Malmquist TFP Index, Central and East European Countries

Pages: 25-44 | Full text (PDF)

Stateness before democracy? A theoretical perspective for centrality of stateness in the democratization process:
The case of Albania

Authors: Gerti SQAPI

Abstract: The aim of this paper is to explore the connection between stateness (and its constituent attributes) and democracy by conceiving the effective state as an independent variable and a prerequisite for the success of a well-functioning democracy. Such a conditioning relationship between the state and the regime has often been subject to being neglected among many scholars of democratization , who have not considered the state as an important explanatory or at least obstructive variable for the success of democratization. This paper argues that the existence of an effective and legitimate state is essential to build a well-functioning democracy. Herein, the variable of stateness is analysed in terms of four attributes: that of monopoly on the legitimate use of force; citizenship agreement; infrastructure capacity of the state; and law enforcement capacity.

Keywords: stateness, democracy, citizenship agreement, infrastructure capacity of the state, law enforcement capacity  

Pages: 45-65 | Full text (PDF)

Comparative analysis of debt sustainability of EU countries and EU candidates: the Promethee-Gaia approach

Authors: Danijela DURKALIĆ, Mihailo ĆURČIĆ

Abstract: The aim of this research is to explore, on a well-founded theoretical basis, debt sustainability, through a panel of 34 countries divided into three groups according to the economic integration level, as well as to explore whether EU candidate countries have poorer fiscal indicators than EU members. By providing a comprehensive picture of public and external debt, the research subject is a comparative analysis showing the ranking of countries in the three observed groups: EU candidate countries, the European Monetary Union candidate countries, and the European Monetary Union member countries. Using the PROMETHEE methodology, research results will show that countries that are not members of the monetary union have better sustainability performance compared to the countries that are members of the monetary union.

Keywords: debt, sustainability, EU, Promethee-Gaia method  

Pages: 67-92 | Full text (PDF)

The effects of demographic structures on savings in Eastern European countries

Authors: Tuğba AKIN, Kıymet YAVUZASLAN

Abstract: The impacts of demographic factors on savings need to be investigated in order to accurately analyse the saving differences between the countries. The propensity of countries for saving is determined by their demographic structures besides the decision-makers' preferences related to the economy. Eastern European Countries generally have a common historical background; they have been exposed to many changes both politically and economically over time. In this study, the Eastern European Countries' national savings were analysed for the 1996-2017 period by using panel data analysis methods. According to the findings, in Eastern European countries there was a positive relationship between female labour force participation rate, urbanization rate, population growth rate, and savings, while the old and young dependency rates have a negative impact on savings. A negative and statistically insignificant relationship was found between life expectancy rate and savings. This paper is the first research which could provide an explanation for these countries' savings behaviour in relation to demographic factors and may thus provide policymakers with some ideas.  

Keywords: Eastern European countries, saving, demographic structure, panel data

Pages: 93-114 | Full text (PDF)

Cultural and event tourism: an interpretative key for impact assessment

Author: Loris NADOTTI, Valeria VANNONI

Abstract: In recent years, the theme of the evaluation of impacts for tourism and cultural sectors entered on the agenda of public authorities, policy makers and managers of institutions themselves, for two main reasons: a phase of contraction of public and private resources to cultural activities; the explosion of the number of 'events', causing relatively quickly radical and lasting changes in the territories and in the host populations. The impact assessment has progressively become a key element for the screening of projects/events to be funded and for monitoring the effectiveness of initiatives. In the academic field, this was accompanied by the flowering of a vast literature on the topic of impacts. This paper analyses the evaluation of the impact of events related to tourism and cultural sectors, focusing on the economic impact, with the aim of underlining several important critical issues affecting the impact measurement. The paper proposes a critical analysis of the literature on the subject and an overview of the main approaches developed to measure such phenomena.

Keywords: economic impact of tourism, cultural tourism, tourism and growth  

Pages: 115-131 | Full text (PDF)

Corporate ownership and capital structure: evidence from Romania

Authors: Alina ȚARAN

Abstract: This study explores the relation between local and foreign corporate ownership and capital structure of Romanian listed companies (as proxied by debt ratio, short-term debt ratio, and long-term debt ratio in total assets). Our empirical analysis indicates that corporations, as shareholders of public companies, determine a reduction in the overall need of external debts of the investee firms. However, foreign corporate shareholders promote a short-term indebtedness policy of non-financial companies listed on the regulated segment of Bucharest Stock Exchange. In contrast, local corporate shareholders have a negative influence on the short-term debt of their affiliates. Our findings provide a better understanding of financing decisions of domestic entities, and consequently, may contribute to efficient investing and management decisions of business actors in Romania, and other European frontier markets. 

Keywords: foreign ownership, debt ratios, frontier markets, developing economies, Central and Eastern European countries 

Pages: 133-150 | Full text (PDF)

Cultural heritage, smart cities and digital data analytics

Authors: Karima KOURTIT

Abstract: This paper addresses the new opportunities and pitfalls of smart cities, with a particular view to the maintenance and use of historical-cultural resources in a city. The emergence and wide-spread application of digital technology appears to shape a new arena for urban cultural policy analysis, especially in the framework of big data in relation to social media information platforms. The paper argues that in a digital age new forms of data metrics policy are needed for an affective cultural heritage policy in cities.

Keywords: smart cities, intelligent cities, cultural heritage, urban cultural capital, digital technology, big data, social media platforms

Pages: 151-159 | Full text (PDF)

The effectiveness of the monetary transmission mechanism channel in Turkey

Authors: Fatih OKUR, Omer AKKUŞ, Atakan DURMAZ

Abstract: This study investigates on which channels the monetary transmission mechanism works effectively. In this context, quarterly data for the period 2005-2017 is used for Turkey and the variables used to determine the efficiency of the monetary transmission mechanism are analyzed by the VAR method. The obtained results indicate that the loans and reserves have a more effective role on the inflation as a channel of the monetary transmission mechanism. According to the long run results, while the exchange rate and reserves channel have a negative effect on the real GDP, it is revealed that loans have a positive effect on the real GDP in the long run stabilization.

Keywords: monetary transmission mechanism, credit channel, inflation, monetary policy 

Pages: 161-180 | Full text (PDF)

Social values impaired by the manipulation of sports and betting events: the case of the Republic of Moldova

Authors: Gheorghe RENIȚĂ

Abstract: This paper identifies the values (and, implicitly, the social relations hence generated) defended against the manipulation of sports and betting events. Consequently, in the Republic of Moldova, the manipulation of sports and betting events is classified as a specific criminal offence. Under the Criminal Code of the Republic of Moldova, such an offence involves encouraging, influencing or instructing a participant in a sports event or a participant in a betting event to take acts that would produce a flawed effect on that particular event with the purpose to unduly derive goods, services, privileges or advantages of any kind for oneself or for another person. Sports events as well betting events shall be honest, unpredictable and carried out as per the principle of fair play. The author found that these values are impaired by the manipulation of a sports event or by the manipulation of betting events. Moreover, this criminal offence alienates supporters/fans from such events. Finally, the offence in question has repercussions on business activities performed in conjunction with sports events and with other kinds of events offering the possibility to make bets. 

Keywords: match-fixing, sport, betting, fair play, Republic of Moldova    

Pages: 181-197 | Full text (PDF)

Financial and economic conditions of rural development in Ukraine

Authors: Dmytro DEMA, Iryna ABRAMOVA, Larysa NEDILSKA

Abstract: The article contains a substantiation of the financial and economic conditions of rural development in Ukraine. An analysis of the research of domestic and foreign scientists on the issues of rural development is carried out. It is established that rural development is an integrated combination of agricultural production with other types of activities in rural areas, which together form the economic basis of a qualitative living environment, social and cultural growth, and ecological safety for rural residents. The experience of rural development in the member countries of the EU is studied based on the official data from the European Commission. An investigation of the current state of budget financing of agriculture in Ukraine, showing significant gaps in this direction, determined by the lack of a consistent and complex budget support of farmers, partial financing, approved programs, not full or inappropriate use of budget funds was carried out. 

Keywords: rural development, rural areas, financial and economic conditions, financial provision, budgetary financing     

Pages: 199-220 | Full text (PDF)

The effects of exchange rate depreciations and appreciations on the tourism trade balance:
the case of Spain

Authors: Cem IŞIK, Magdalena RADULESCU, Aleksandra FEDAJEV

Abstract: Considering the high current account deficits worldwide and the growing importance of tourism to GDP in many countries, the impact of the exchange rate fluctuations on the tourism demand and on the current account of the balance of payments became crucial during the last decades. That is why many researchers focused on studying this impact in the context of different exchange rate regimes. Tourism has a significant positive impact on Spain's trade balance, because Spain ranks 1st globally if we consider tourist arrivals. FED proceeded to many adjustments of its currency against other currencies to boost tourism industry. Thus, we estimated the impact of the exchange rate on trade balance in tourism with Turkey in the short and long run by using the non-linear ARDL cointegration approach because Turkey is the one of the main trade partner of Spain and this bilateral relation has not been studied so far in the economic literature. Our results show that the Euro depreciation boosts Turkey tourist arrivals, while the Euro appreciation is not significant for Spain's tourism balance. Based on these results, we designed some policy recommendations.

Keywords: exchange rate fluctuations, tourism balance, Spain, Turkey     

Pages: 221-237 | Full text (PDF)

Analysis of the stock market anomalies in the context of changing the information paradigm

Authors: Kostyantyn MALYSHENKO, Vadim MALYSHENKO, Elena Yu. PONOMAREVA, Marina ANASHKINA

Abstract: The present paper describes the results of a comprehensive research in the information efficiency of the Ukrainian stock market in the context of a financial paradigm transformation which causes a need to modify the EMH (efficient market hypothesis). The aim of the research is to identify the market inefficiencies (anomalies) that occur in the market and contradict the EMH provisions. The database used for the research is from both the world and the Ukrainian stock markets (from 2008 to 2013). Besides, the authors compiled their own event database on Ukrainian mass media data with clear formalization of the event evaluation, which excludes any judgmental approach. Both the standard statistical procedures and the authors' event analysis become the instruments for the analysis. To randomize the research, an event date was shifted by 1-5 days with the reference to the emissions by the moving average method. The research becomes the basis for a new information paradigm, and the fourth form of information efficiency was justified. These changes underlaid the evaluation methodology for the arisen anomalies being the result of explicit or implicit collusion at the stock market of Ukraine.  

Keywords: anomalies of the stock market, information efficiency, event analysis, efficient market hypothesis (EMH), fractal market hypothesis (FMH), coherent market hypothesis (CMH)     

Pages: 239-270 | Full text (PDF)

European strategy for the development of alternative energy

Authors: Nataliia KRAVCHUK, Olena KILNITSKA, Volodymyr KHODAKIVSKYI, Mykola MISEVYCH

Abstract: The research is aimed at studying the European experience in terms of the strategy for development of alternative energy and possibilities for its implementation in Ukraine by taking into account the priorities of national economic policy on energy efficiency and energy preservation. The problems of the development of the fuel and energy sector in Ukraine are identified in the context of its energy security. The latest research in the field of alternative energy in the advanced countries of the world is analyzed. The problems of energy consumption and energy efficiency in Ukraine compared to the countries of the EU are outlined. The growth rate of renewable energy in the EU, including the structure of the energy balance, is analyzed. Ukraine's high potential for generating alternative energy is emphasized and the country's energy balance is investigated. The dynamics of consuming renewable energy in Ukraine is defined. The prospects for increasing the efficiency of using the energy potential of Ukraine are studied; the top-priority goals of the strategy for the development of alternative energy are outlined in the context of ensuring Ukraine's energy independence and prospects of integration into the EU.  

Keywords: renewable resources, alternative energy, energy preservation, energy efficiency, energy strategy     

Pages: 271-297 | Full text (PDF)

BOOK REVIEW:

Thilo Lang and Franziska Gormar (eds.), Regional and Local Development in Times of Polarization. Re-thinking Spatial Policies in Europe, Singapore: Palgrave Macmillan, 2019

Author: Mihail EVA

Pages: 299-302 | Full text (PDF)