Panoeconomicus 2024-03-15T18:01:41+01:00 Panoeconomicus Journal Open Journal Systems <p>Panoeconomicus is an economic quarterly with a general orientation. We publish original scientific papers, scientific reviews, preliminary reports, conference papers, professional papers, polemics and book reviews.</p> The Voltage Effect: How to Make Good Ideas Great and Great Ideas Scale by John A. List 2024-03-15T17:56:30+01:00 Vojtěch Kotrba 2024-03-15T00:00:00+01:00 Copyright (c) 2024 Panoeconomicus The Short- and Long-Run Relationship Between House Prices and Bank Credit in Developed and Emerging Market Economies: A Comparative Study 2022-09-26T23:45:36+02:00 Taufiq Carnegie Dawood <p>This study compares the short- and long-term relationships between house prices and bank credit in developed and Emerging Market Economies. This fact is an essential issue because most financing is facilitated by bank credit. Using quarterly data from 22 developed and six Emerging Market Economies and the panel autoregressive distributed lag model method, this study found that real house prices are the prominent factor of bank credit. Moreover, the magnitude of house prices and gross domestic product relationship with domestic bank credit is considerably greater in Emerging Market Economies than in developed nations. Meanwhile, the foreign interest rate on bank credit is nearly four times greater in Emerging Market Economies. Further, the exchange rate-credit relationship is positive for developed countries, whereas negative for Emerging Market Economies. Therefore, authorities maintaining financial stability must pay close attention to real house price dynamics. Moreover, Emerging Market Economies must also consider the exchange rate and foreign interest rates in managing credit growth.</p> <p><strong>JEL</strong>: E51, E52, E47, F65, G21</p> <p> </p> 2024-03-15T00:00:00+01:00 Copyright (c) 2024 Panoeconomicus Testing for Causality between Remittances and Inflation: Evidence from Central and Eastern Europe 2022-08-23T12:23:25+02:00 Mihail Petkovski Jordan Kjosevski Kiril Simeonovski <p>The goal of this study is to examine the impact of remittance inflow on inflation using the System Generalized Method of Moments (SGMM) and Dumitrescu-Hurlin Granger causality approach in countries from Central and Eastern Europe over the period 1994 to 2019. As the levels of economic and financial development vary considerably across these countries and some of them are member states of the European Union (EU), we split them into two more homogenous groups — EU member states and non-EU countries. The application of the SGMM approach reveals that remittances have a negative and significant impact on inflation in the non-EU countries, whereas they exert positive impact in the EU member states and in the whole region overall. The Granger causality test shows a unidirectional causal relationship between remittances and inflation in all country groups, whereas the existence of a positive causal relationship from remittances to inflation has been established in twelve countries. <br><br><strong>Keywords</strong>: Inflation, Remittances, Central and Eastern European countries, Dumitrescu-Hurlin Granger causality approach, System GMM. <br><br><strong>JEL</strong>: C23; E61.</p> 2024-03-15T00:00:00+01:00 Copyright (c) 2024 Panoeconomicus An In-depth Analysis of the Relation of Health and Poverty in Europe 2022-03-20T22:47:14+01:00 Simona Andreea Apostu Gina Cristina Dimian Maria Denisa Vasilescu <p>Our article aims to present an in-depth analysis of the correlation between health status and poverty in European countries. Our research is grounded on two types of data: a survey of the perceptions of the European citizens related to their own physical and mental health conducted in 2017 in European Union countries and the United Kingdom on a sample of 28,000 respondents and macroeconomic data retrieved from Eurostat Database, showing the incidence of poverty and working poor in Europe during the 2017–2019 time span. Multiple logistic regression has revealed that self-rated health status is influenced by the sociodemographic characteristics of the respondents, whereas TwoStep Cluster analysis and Mann–Whitney U test proved that health is an important driver of the differences between countries in terms of poverty and working poor. The originality of our research stems from both the integrated approach, the analysis being made at individual, group, and country levels, and by the results that bring new evidence about population health status as a determinant of quality of life and national competitiveness.<br> <br><strong>Keywords:</strong> Physical health, Mental health, Poverty, Working poor, Logistic regression, Cluster analysis. <br><br><strong>JEL:</strong> C38, I15, P46.</p> 2024-03-15T00:00:00+01:00 Copyright (c) 2024 Panoeconomicus An Empirical Study to Investigate the Size of Non-Governmental Organizations in OECD Countries 2022-12-19T00:48:11+01:00 Ayşe Nil Tosun Ayfer Ezgi Yılmaz <p>This study aimed to analyze the factors affecting the size of non-governmental organizations (NGOs) from a multinational perspective. Empirical analyses were conducted through econometric modeling, and the data of the 17 countries from 2003 to 2019 were used. The data was obtained from the World Bank and OECD database. We used advanced panel data estimation techniques (CUP-FM and CUP-BC) to obtain long-run coefficients. GDP per Capita, general government final consumption expenditure, adult education at tertiary level, and Gini index growth declined grants by private agencies and NGOs’ contribution to GDP (GinGDP) initially but after a threshold level, GinGDP increased with growth at later stages of these variables. Urban population growth, employment, and foreign population have reducing effect on the size of NGOs. The size of NGOs has bidirectional causality relationship between GDP per capita, adult population at tertiary education level, employment to population ratio, and Gini index; and unidirectional causality between urban population growth, general government final consumption expenditure, and foreign population. <br /><br /><strong>JEL</strong>: L30, C23</p> <p> </p> 2024-03-15T00:00:00+01:00 Copyright (c) 2024 Panoeconomicus The Impacts of Openness and Global Value Chains on the Performance of Turkish Sectors 2022-05-08T10:23:19+02:00 Halit Yanıkkaya Abdullah Altun Pınar Tat <p>Regarding the dynamics of the contemporary world economy, success in a domestic economy cannot be achieved without effective integration policies for goods/services and capital flows. To evaluate this proposition, we utilize many openness measures for two periods, 1995–2009 and 2000–2014, for the Turkish sectors. The empirical findings suggest that domestic value added in export is a major driver of sectoral value added. While import and backward linkages appear to be stimulators for total factor productivity (TFP) in manufacturing industries, they have no significant impact on sectoral value added. Trade barriers in the form of tariff rates, which primarily stemmed from manufacturing industries, have a considerable detrimental impact on Turkish sectoral performance. Higher tariffs not only make it more difficult for Turkish businesses to enter overseas markets but also raise the costs for importers. The initial impact of this protection is inexorably exacerbated by global value chains (GVCs), with negative consequences felt in nearly every economy. Given the increased backward GVC involvement of some manufacturing industries, such as machinery and equipment, Turkish sectors should be prepared for external shocks by diversifying importer origins, stocking up, and boosting transparency in their operations. Overall, designing and implementing trade policies to effectively integrate into the GVCs is an important task for Turkey. <br /><br /><strong>Keywords:</strong> Openness, Sectoral total factor productivity, Value added, GVC participation, Turkey. <br /><br /><strong>JEL</strong>: F14, F21, O14, O24, O47</p> 2024-03-15T00:00:00+01:00 Copyright (c) 2024 Panoeconomicus Does Digital Economy Promote Sustainable Development: Case of EU Countries? 2022-08-23T20:55:01+02:00 Viktorija Skvarciany Daiva Jurevičienė <p>The digital economy and sustainable development are treated as the world’s progress, and there is a vast number of papers investigating the indirect linkage between these two phenomena. However, there is a lack of studies analysing the direct influence. Hence, the purpose of the current paper is to find out if there is an impact of the digital economy, expressed by DESI sub-dimensions, on sustainable development, represented by SDGI. For that issue, statistical data covering 2017–2020 was gathered, and panel regression modelling was applied. The survey covers 28 EU countries (including the United Kingdom because the data was collected before Brexit). The findings revealed that DESI sub-dimensions influence SDGI; however, the impact was negative in most cases. Thus, the current paper showed that standard views on the influence of the digital economy are not always the right ones.&nbsp;<br><br><strong>Keywords</strong>: Digital economy, Sustainable development, Sustainable development goals.&nbsp;<br><br><strong>JEL</strong>: O10, Q01.</p> 2024-03-15T00:00:00+01:00 Copyright (c) 2024 Panoeconomicus