This paper analyses the link between exchange rates and stock markets in four Central and Eastern European countries. We simultaneously explore the comovements of foreign exchange markets and stock markets at the cross-country level and the link between these two markets within each country while employing a Dynamic Conditional Correlation Mixed Data Sampling (DCC-MIDAS) model. Such an approach to financial markets conveys a much more visible picture of the existing patterns of financial integration between these markets that would otherwise be neglected. The estimates reveal significant differences between the patterns of correlation in our sample countries. First, the paper finds a quite low degree of convergence between foreign exchange markets, with rising correlations during some of the crisis episodes. Second, both the 2004 European Union enlargement and the European sovereign debt crisis underpin the stock market comovements in the Central and Eastern European countries. Third, the correlations between the exchange rate returns and stock markets rise mostly during the European sovereign debt crisis and to a lesser extent during the global financial crisis, revealing signs of contagion and lower portfolio diversification opportunities. These results are of utmost relevance for the process of financial integration and they also have important implications for policy makers, risk management, and investors.

The transition to sustainable food systems is one of the main challenges facing national and international action plans. It is estimated that food services and lodging accommodation activities are under pressure in terms of resource consumption and waste generation, and several tools are required to monitor their ecological transition. The present research adopts a semi-systematic and critical review of the current trends in the food service and lodging accommodation industries on a global scale and investigates the real current environmental indicators adopted internationally that can help to assess ecological transition. This research tries to answer the subsequent questions: (i) how has the ecological transition in the food service industry been monitored? and (ii) how has the ecological transition in the lodging accommodation industry been monitored? Our study reviews 66 peer-reviewed articles and conference proceedings included in Web of Science between 2015 and 2021. The results were analyzed according to content analysis and co-word analysis. Additionally, we provide a multidimensional measurement dashboard of empirical and theoretical indicators and distinguish between air, water, energy, waste, health, and economic scopes. In light of the co-word analysis, five research clusters were identified in the literature: “food cluster”, “water cluster”, “consumers cluster”, “corporate cluster”, and “energy cluster”. Overall, it emerges that food, water, and energy are the most impacted natural resources in tourism, and users and managers are the stakeholders who must be involved in active monitoring.

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