Productivity clustering and growth in Central and Eastern Europe

Abstract

This article uses a non-linear time-varying model to test productivity convergence in 10 emerging countries within Central and Eastern Europe. The results show that the convergence algorithm has rejected the null hypothesis of convergence for all countries in most of the sectors. Also, we found evidence that the productivity clusters for total economy and other sectors are very different in terms of number and countries. Additionally, even if the productivity gaps in the region have been reduced, we still notice significant disparities between countries. The clustering algorithm shows countries which have a high productivity growth in some sectors and a low productivity growth in others. This reveals the prevalence of idiosyncratic factors in productivity determinants. Baltic countries are catching up, while other countries such as Bulgaria are underperformers. ARTICLE HISTORY

Labor Hoarding: An Old Phenomena in Modern Times? Case Study for Eu Countries

“…Analyses at the company level focus on the methods of obtaining employees (Cassell et al, 2002;Day & Rodgers, 2015;Dawson et al, 2017), determining salary level (Card et al, 2016;Lopes de Melo, 2018), assessing the impact of technological progress on the structure of employment in companies (Arntz et al, 2016;Frey & Osborne, 2017;Olkiewicz, 2015). In macroeconomic terms, the most frequently discussed issues concern the flexibility of working time (Wilthagen & Tros, 2004;Chen et al, 2019), the minimum wage (Blanchard, 2004), labor market equilibrium (Blanchard & Landier, 2002;Gałecka-Burdziak, 2017) and work productivity (Boeri & Garibaldi, 2005a;Nitoi & Pochea, 2016;Stone, 1923;Quiggin, 2011;Klinger & Weber, 2019). The functioning of labor market, both in the micro-and macroeconomic context, depends on the solutions used in labor market institutions (Jiménez-Rodríguez & Russo, 2012;Boeri, 2011).…”

Multiscale oil-stocks dynamics: the case of Visegrad group and Russia

“…According to numerous authors, such as Borys (2011), Ly ocsa, Baum€ ohl, and V yrost (2011), Niţoi and Pochea (2016), Akhvlediani and Sledziewska (2017), the Visegrad group countries are fast growing, but they are highly dependent on oil import. 1 Therefore, the main purpose of this paper is to conduct an in-depth analysis of the dynamic interconnection that exists between Brent oil and stocks indices of four Visegrad group countries.…”