Journal of Economics - Obsahy ročníkov

The paper explores the causality between oil price and geopolitical risk at global level by using the short- and long-run test of causality in the frequency-domain, over the period May, 1987 – April, 2020. For robustness checks, alternative tools in time-domain and additional variables are also considered. The key result claims that the oil price is a crucial signal for geopolitical risk on short- (i.e. up to 3 months) and long-run (i.e. more than 9 months) through its threats component. Interesting, no evidence shows that the oil price can explain the geopolitical acts per se. The results remain robust under the influence of global real economic activity in industrial commodity market. Surprisingly, no causality running from geopolitical risk to oil price is found.

Organic production is on the upswing, owing to consumer preferences for safer products manufactured with environmentally friendly methods. It is frequently promoted to achieve economic development, poverty alleviation, and female empowerment. Crowdfunding is considered an ideal mechanism for mobilizing financial resources for people with limited access to traditional sources, such as women. This paper aims to analyze the gender gap in organic farming crowdfunding and estimate which characteristics foster the likelihood of crowdfunding success in organic production campaigns. We used a sample of crowdfunding campaigns from the Kickstarter platform and employed a binary logistic regression model to investigate the main research question. Our findings show that the crowd primarily supports gender-mixed teams. We also found that having more information about the campaign and project quality, a more realistic goal, and a shorter campaign duration increases the likelihood of succeeding. This paper contributes to the growing literature and policy initiatives to promote and develop gender equality in crowdfunding.

The main goal of this study is to analyse whether the source of capital in foreign participation in the domestic banking markets of countries that joined the EU after 2004 influences the evolution of efficiency levels in domestic banks and, consequently, the efficiency levels within these markets. It assesses the level of activity of foreign commercial banks in the aftermath of the 2008 – 2012 financial crisis and explores its relationship with banking sector efficiency. The study focuses on 13 countries, including Central European, South-Eastern European and Baltic states. Using the Data Envelopment Analysis (DEA) method, the research aims to determine whether foreign banks have gained or lost influence in these markets and the foreign countries that have the best performing banks in these markets. Furthermore, it provides insights into the potential influence of sources of foreign capital on the overall performance of domestic banking markets, indicating how competition could drive high-achieving foreign banks to outperform in their established markets.

The paper analyzes the impact of economic, social, and political components of globalization on the gross domestic product of transition countries. Available data from 1995 to 2018 were analyzed for two groups of European transition countries, divided according to geographical criteria into Western Transition (WT) countries and Eastern Transition (ET) countries. Based on the results of the panel ARDL approach, it was shown that economic and social globalization positively impact gross domestic product in both groups of countries in the long-run. In contrast, political globalization hurts the gross domestic product. Dumitrescu and Hurlin’s causality test showed that in WT countries, there is a significant causality from social globalization to gross domestic product and from social globalization to political globalization. In ET countries, there is significant causality from political globalization to economic and social globalization, while economic globalization causes gross domestic product.