Sentiment Matters for Cryptocurrencies. Evidence from Tweets
In: FRL-D-22-01889
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In: FRL-D-22-01889
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The pattern of financial cycles in the European Union has direct impacts on financial stability and economic sustainability in view of adoption of the euro. The purpose of the article is to identify the degree of coherence of credit cycles in the countries potentially seeking to adopt the euro with the credit cycle inside the Eurozone. We first estimate the credit cycles in the selected countries and in the euro area (at the aggregate level) and filter the series with the Hodrick–Prescott filter for the period 1999Q1–2020Q4. Based on these values, we compute the indicators that define the credit cycle similarity and synchronicity in the selected countries and a set of entropy measures (block entropy, entropy rate, Bayesian entropy) to show the high degree of heterogeneity, noting that the manifestation of the global financial crisis has changed the credit cycle patterns in some countries. Our novel approach provides analytical tools to cope with euro adoption decisions, showing how the coherence of credit cycles can be increased among European countries and how the national macroprudential policies can be better coordinated, especially in light of changes caused by the pandemic crisis.
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There is a general acceptance of the fact that a significant direct relationship between financial markets and macroeconomic variables exists, especially by considering the assertion that developed financial markets correspond to high GDP levels. This paper provides an investigation of the correlation between the market capitalization and stock market dynamics on one hand and GDP per capita on the other hand, for two groups of regions in EU (western countries, EU15, and central and eastern countries, EU11). Based on data for a number of EU countries (both western and eastern) and using some special modelling techniques, we provide an analysis of the convergence phenomenon for both the macroeconomic variables and the financial ones. Using a deep time resolution and some spline functions we generated high frequency time series (the so-called virtual monthly GDP) to investigate the correlations with financial markets. In spite of ECB?s carefull monitoring of the financial integration within the euro zone, a possible financial integration process within the non-euro zone continues to be ignored. It seems that due to the weak development of financial markets, the economies outside of the euro zone are relatively more protected against crisis when compared to those inside the euro zone. Therefore, the so-called contagion effect is weaker in the Central and Eastern region of European Union.
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In: Societies: open access journal, Band 12, Heft 6, S. 157
ISSN: 2075-4698
In modern societies, digitalization plays a tremendously important role for people and businesses. Apart from an economic representation, competitiveness characterizes a society from political, cultural, or human points of view. In this article, we aim to highlight the role of digital development from a competitiveness perspective, as there are few studies related to this relationship. The empirical investigation is based on panel data analysis for European Union countries for 2017–2022, considering the digital economy and society index (DESI) and the index developed by International Institute for Management Development (IMD), respectively IMD world competitiveness index. The results obtained are reported both for general indices and for the components of DESI, presented separately for the groups of Central and Eastern European countries and Western European countries. They indicate different influences for the two groups of countries, with only a few common aspects. The most obvious is the case of skilled labor. This aspect demonstrates the link between the various dimensions of digitalization and changes in human capital development strategies, as they appear in the specialized literature.
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Working paper
In: Proceedings of the International Conference on Economics and Social Sciences 3
The International Conferences on Economics and Social Sciences (ICESS)organized by Bucharest University of Economic Studies provides an opportunity for all those interested in Economics and Social Sciences to discuss and exchange research ideas. The papers presented at the Conference are available online in the Conference Proceedings series (ISSN 2704-6524): Volume 2019 Collaborative Research for Excellence in Economics and Social Sciences, ISBN 9788366675322 Volume 2020 Innovative Models to Revive the Global Economy, ISBN 9788395815072 This conference provides an opportunity for all those interested in Economics and Social Sciences to discuss and exchange research ideas. We welcome both empirical and theoretical work that is broadly consistent with the conference' general theme. Especially, researchers, PhD students and practitioners are invited to submit papers on the topics related to new models in entrepreneurship and innovation, sustainability and education, data science and digitalization, marketing and finance, Fintech & Insurtech etc. that will develop innovative instruments for countries, businesses and education. The innovative models for sustainable development aim to ensure simultaneous economic development, social development, and environmental protection, to achieve a higher quality of life for all people and protect all living beings and the planet. The main topics of the conference are focused on but not limited to the following sections: Fintech & Insurtech - towards a sustainable financial environment The role of innovation in public and private organizations Financial perspectives in turbulent times Global Challenges for Agri-Food Systems and Sustainable Development Economic Policies for Non-Cyclical Crises Education for Sustainable Development: impact of universities on society Marketing and Sustainability The role of accounting in Sustainable Development Global world after crisis: towards a new economic model Sustainability for future business Current challenges within demographic data: measurement, collection, retrieval, analysis and reporting We welcome you to join us for two intensive days of plenary speeches and specialized parallel sessions debates that will result in high quality practical insights and networking. Scientific CommitteeACELEANU Mirela, Bucharest University of Economic Studies, RomaniaALBU Lucian, Academia Romana, RomaniaANGHEL Ion, Bucharest University of Economic Studies, RomaniaARROYO GALLARDO Javier, Complutense University of Madrid, SpainAUSLOOS Marcel, Leicester University, United KingdomBEGALLI Diego, University of Verona, ItalyBELLINI Francesco, Sapienza University of Rome, ItalyBRATOSIN Ștefan, Universite Montpellier 3, FranceCABANIS Andre, Universite Toulouse 1 Capitole, FranceCASTERAN Herbert, EM Strasbourg University, FranceCENȚIU Silvian, Retina Communications, San Francisco, USACERQUETI Roy, Sapienza University of Rome, ItalyCHAVEZ Gilbert, Globis University Tokyo, JapanCOSTICÃ Ionela, Bucharest University of Economic Studies, RomaniaCOX Michael, London School of Economics, England, UKD'ASCENZO Fabrizio, Sapienza University of Rome, ItalyDIMA Alina Mihaela, Bucharest University of Economic Studies, RomaniaDÂRDALÃ Marian, Bucharest University of Economic Studies, RomaniaDUMITRESCU Dan Gabriel, Bucharest University of Economic Studies, RomaniaDUMITRU Ovidiu, Bucharest University of Economic Studies, RomaniaFELEAGÃ Liliana, Bucharest University of Economic Studies, RomaniaFONSECA Luis Miguel, Polytechnic of Porto, PortugalGARCÍA-GOÑI Manuel, Universitad Complutense de Madrid, SpainGIUDICI Paolo, The University of Pavia, ItalyGRUBOR Aleksandar, University of Novi Sad, SerbiaHÄRDLE Wolfgang Karl, Humboldt University of Berlin, GermanyHURDUZEU Gheorghe, Bucharest University of Economic Studies, RomaniaISTUDOR Nicolae, Bucharest University of Economic Studies, RomaniaKOKUSHO Kyoko, IBM Tokyo, JapanLOMBARDI Mariarosaria, University of Foggia, ItalyMEHMANPAZIR Babak, EM Strasbourg University, FranceMIRON Dumitru, Bucharest University of Economic Studies, RomaniaNABIRUKHINA Anna Vadimovna, Saint Petersburg State University, RussiaNICA Elvira, Bucharest University of Economic Studies, RomaniaNIJKAMP Peter, Jeronimus Academy of Data Science Den Bosch, NetherlandsNOVO CORTI Maria Isabel, Universidade da Coruña, SpainORDÓÑEZ MONFORT Javier, Jaume I University, SpainPANETTA Roberto, Bocconi University, ItalyPARASCHIV Dorel Mihai, Bucharest University of Economic Studies, RomaniaPICATOSTE Xose, Universidad Autonoma de Madrid, SpainPIROȘCÃ Grigore, Bucharest University of Economic Studies, RomaniaPOINT Sébastien, EM Strasbourg University, FrancePOPA Ion, Bucharest University of Economic Studies, RomaniaPROFIROIU Marius Constantin, Bucharest University of Economic Studies, RomaniaRICHMOND Peter, Trinity College Dublin, IrelandSÂRBU Roxana, Bucharest University of Economic Studies, RomaniaSINGER Slavica, J.J. Strossmayer University of Osijek, CroatiaSMEUREANU Ion, Bucharest University of Economic Studies, RomaniaSTAMULE Tãnase, Bucharest University of Economic Studies, RomaniaSTATE Radu, University of Luxembourg, LuxembourgSTOIAN Mirela, Bucharest University of Economic Studies, RomaniaSTRAT Vasile Alecsandru, Bucharest University of Economic Studies, RomaniaSTREET Donna, University of Dayton, USATEIXEIRA DOMINGUES José Pedro, University of Minho, PortugalȚIGU Gabriela, Bucharest University of Economic Studies, RomaniaVALDEBENITO Carlos Ramirez, University of Chile, Santiago de Chile, ChileVEGHEȘ Cãlin Petricã, Bucharest University of Economic Studies, RomaniaVERHOEF Peter, University of Groningen, NetherlandsVOLKMANN Christine Katharina, Schumpeter School of Business and Economics, Bergische Universität Wuppertal, GermanyWALTER FARKAS Erich, University of Zurich, SwitzerlandWIERENGA Berend, Rotterdam School of Management, NetherlandsWOODS Michael, University of Aberystwyth, Wales, UKZIMMERMANN Klaus F., Bonn University (em.) end Global Labor Organization, Germany Open Access Statement These conference proceedings are Open Access proceedings that allow a free unlimited access to all its contents without any restrictions upon publication to all users. Open Access License These conference proceedings provide immediate open access to its content under the Creative Commons BY-NC-ND 4.0. Authors who publish with these proceedings retain all copyrights and agree to the terms of the above-mentioned CC BY-NC-ND 4.0 license. ABSTRACTING & INDEXING Innovative Models to Revive the Global Economy is covered by the following services: Directory of Open Access Books (DOAB) EBSCO Discovery Service Google Scholar Naviga (Softweco) Primo Central (ExLibris) ReadCube Summon (ProQuest) TDOne (TDNet) WorldCat (OCLC)