Theoretical and Applied Economics
No. 1 / 2022 (630), Spring
Economic resilience in Central and Eastern European countries
Bucharest University of Economic Studies, Romania
Georgiana BALABAN
Bucharest University of Economic Studies, Romania
Cosmin MARINESCU
Bucharest University of Economic Studies, Romania
Abstract. Interest in economic resilience has been rising particularly in the aftermath of the GFC. Since then, the experience has highlighted how a lack of resilience can have noteworthy and persistent harmful effects not only on the countries distressed, but also spill-overs on other countries. This topic is particularly relevant nowadays since the current health crisis came with rising vulnerabilities and increasing imbalances.
The aim of this paper is threefold: (i) to distil features of economic resilience underlined in previous works and carefully select those most relevant for the CEE member states, (ii) to gauge the degree of resilience of individual CEE country through a composite index, and (iii) to highlight the temporal dimension of economic resilience.
This article underlines notable differences in the resilience of CEE countries, heterogeneity caused by a combination of economic, social and institutional factors. To quickly visualize the degree of economic resilience across CEE countries, we constructed a heatmap illustrating the strengths and weaknesses of each individual economy, reflecting differences across economies in the depth of the crisis, but also in their ability to recover.
Contents
Economic resilience in Central and Eastern European countries
Romania's economy on the threshold of recession
Testing the Marshall-Lerner condition for Romania
Empirical evidence to the nonmonotonic relationship between public health expenditure and economic growth
Institutional quality and public healthcare
Consequences of the Covid-19 epidemic on hygiene purchase behavior
Banking management in the prism liquidity – profitability interrelation
Long-term price and income elasticity of residential natural gas demand in Turkey
The impact of foreign direct investment on the economy of Bangladesh: A time-series analysis
Does gravity work in the context of India and ASEAN bilateral trade? An application of the FGLS method
The dynamics of India – ASEAN trade with special reference to manufactured exports and their technological composition
How does Israel share Palestinians their international aid
Attention economy and higher-order beliefs in voters’ online attention searches
Volatility and asymmetric analysis of Indian indices during Covid-19 pandemic period