Naslov
Garch Estimation of CEE Financial Integration as Compared with Germany

Autori
Bolfek, Berislav ; Wrońska-Bukalska, Elżbieta ; Bosna, Jurica

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Proceedings of the Region, Entrepreneurship, Development 2020 / Leko Šimić, M., Faculty of Economics in Osijek, Crnković, B., Faculty of Economics in Osijek - Osijek : Ekonomski fakultet Sveučilišta Josipa Jurja Strossmayera u Osijeku, 2020, 90-103

Skup
9th International Scientific Symposium Region, Entrepreneurship, Development 2020 (RED 2020)

Mjesto i datum
Osijek, Hrvatska, 04.06.2020. - 05.06.2020

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
stock markets, integration, European Union, ARCH

Sažetak
Paper deals with procyclicality of stock exchanges regarding the economic activity of selected CEE countries, to measure the level of financial integration and to compare them with Germany as developed and leading EU economy. Empirical evidence of a relationship between stock exchange indices and main (macro) economic indicators have been analysed by using GARCH method. Research has shown that there are similar reactions of the CEE macroeconomic variables to different stock indices, also compared with Germany. However, there is no closer financial integration of CEE countries with Germany. Relation between financial market and real sphere in CEE countries reflects the one in the developed country, with some fundamental obstacles in CEE countries still to be overcome.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA