Effect of COVID-19 on International Trade among the Visegrad Countries

Uğurlu, Erginbay; Jindřichovská, Irena

doi:10.3390/jrfm15020041

Cited by 21 publications

(19 citation statements)

References 55 publications

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“…Thus, the findings based on the effects of COVID-19 show that the tightening measures taken to mitigate the hitches of COVID-19 have a significant contractionary impact on exports. Our empirical findings in terms of the trade impacts of COVID-19 are in line with Che et al ( 2020 ), Hayakawa and Imai ( 2021 ), Zhao et al ( 2021 ), Hayakawa and Mukunoki ( 2021 ), Liu et al ( 2021 ), and Ugurlu and Jindřichovská ( 2022 ).…”

Section: Estimation Resultssupporting

confidence: 90%

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Impact of COVID-19 pandemic on exports: new evidence from selected European Union countries and Turkey

Cengiz

Manga

2022

Asia-Pac J Reg Sci

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The COVID-19 pandemic, a new type of coronavirus that the world faced, broke out at the end of 2019 causing numerous impacts on all countries. Particularly the European Union (EU) countries were notably affected by COVID-19 pandemic lockdowns and stringency policies. Furthermore, although Turkey was successful in combating many areas of the COVID-19 pandemic compared to the EU countries, its international trade was affected. This paper empirically investigates the impact of the COVID-19 pandemic on selected EU countries (Bulgaria, Estonia, France, Germany, Greece, Latvia, Lithuania, Luxembourg, Poland, Romania, Slovakia, Slovenia, Spain, Czechia) and Turkey’s exports with monthly panel data analyses over the March 2020–December 2021 period. The findings suggest that the COVID-19 pandemic had negative impacts on exports in the EU and Turkey. For example, a 1% increase in COVID-19 stringency reduced exports by 0.102%, and a 1% increase in total COVID-19 cases caused a decline in exports of 1.620%. Furthermore, the Dumitrescu–Hurlin panel causality test results show a two-way causality relationship between COVID-19 cases and export levels. In addition, unidirectional causality linkage exists from the COVID-19 stringency index. Therefore, causality test results confirm an impact of the COVID-19 pandemic on exports during the stringency measures and lockdowns.

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Section: Estimation Resultssupporting

confidence: 90%

“…Ugurlu and Jindřichovská ( 2022 ), tried to discover the impact of COVID-19 on international trade using the ARDL method for Visegrad Four (V4) countries using the monthly data from 2010M1 to 2021M4. They found that while the COVID-19 affected trade relations of these countries, its impacts vary among countries.…”

Section: Literature Reviewmentioning

confidence: 99%

Impact of COVID-19 pandemic on exports: new evidence from selected European Union countries and Turkey

Cengiz

Manga

2022

Asia-Pac J Reg Sci

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“…Over the past decade, the world's leading governments, international financial institutions, and the players in the banking system have sought to address the economic (financial, banking, and accounting) problems of the 2007/2008 crisis, accompanied by strong monetary policy expansion and, after some consolidation, the coronavirus crisis posed new challenges to the world economy, including national economies and businesses alike. Several authors found that the COVID-19 impact was evident in all countries, but not with the same strength (Juergensen et al 2020;Nieto and Rubio 2022;Ugurlu and Jindřichovská 2022;Zainal et al 2022). We witnessed strong government intervention in all parts of the world.…”

Section: Introductionmentioning

confidence: 84%

The Impact of Financial Culture on the Operation of Hungarian SMEs before and during COVID-19

Tóth

Kása

Lentner

2022

Risks

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The main aim of this study is to explore the conceptual framework of corporate financial culture and its practical relevance in an emerging Central European market economy, at the level of the Hungarian SME, with a special emphasis on the Hungarian SME sector. In our study, we highlight each dimension of corporate financial culture, focusing on the established corporate financial culture index, and within it, we examine the significance of the financial management elements sub-index and the risk and insurance sub-index separately. In addition, we look for logical, causal, and statistically verifiable relationships between corporate financial literacy and the outcome of corporate financial decisions and corporate risk taking. The relationships were broken down over two years in the analysis. Approximately 2167 responses were included in the 2019 sample and 3281 in the 2021 sample. These representative samples were taken from the Hungarian SME sector and multiple linear regression models were built to find a significant moderation effect of financial literacy between perceived risks and the insurance activity of companies. We conducted our research in two different periods, the unique feature of which is that we conducted a survey before and during the coronavirus crisis, so we could make a comparative analysis. The method used in this research study is a literature review analysis of reference manuscripts, discussing topics related to financial literacy, corporate risk management, and corporate financial management, published in the last 10 years. Our results show that there are positive and significant relationships between company management, corporate risk management, and corporate financial literacy. The results of our study draw the attention of company leaders to the practical significance of financial culture—efficiency, profitability, and stability.

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“…According to [16], the concept of Total Quality Management should include (Figure 2): According to [17], the effectiveness of Total Quality Management in an industrial enterprise can be determined based on the criteria (Figure 3): According to [18] , for the effective use of Total Quality Management, it is advisable: 1) To involve the company's personnel more widely to ensure quality control of the products produced. The degree of interest of the company's personnel in improving the quality of its products…”

Section: Introductionmentioning

confidence: 99%

The impact of service maintenance on the quality indicator of manufactured products

et al. 2023

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To create conditions that ensure the competitiveness and high quality of products, an industrial enterprise should have a system for managing the quality of products. This should include product quality management at all stages of the production cycle. Product quality management should be comprehensive, involving the use of organizational, economic and technical measures. A comprehensive quality management system at an enterprise should be based on the quality standards adopted at that enterprise. The evaluation of the quality of the products produced from the point of view of its buyer is subjective and depends on the usefulness of this product to a particular consumer. It is advisable for an enterprise to track consumer preferences in order to make its products better from the point of view of customers. After-sales service is an important element in the way of promoting products on the market. The organization of effective service requires the coordination of technical, marketing and commercial activities, taking into account consumer preferences.

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Effect of COVID-19 on International Trade among the Visegrad Countries

Cited by 21 publications

References 55 publications

Impact of COVID-19 pandemic on exports: new evidence from selected European Union countries and Turkey

Impact of COVID-19 pandemic on exports: new evidence from selected European Union countries and Turkey

The Impact of Financial Culture on the Operation of Hungarian SMEs before and during COVID-19

The impact of service maintenance on the quality indicator of manufactured products

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