Acta Oeconomica

11/07/2025

The 2025/2 Issue of Acta Oeconomica is out. As in the previous issue, the research questions analysed in the six articles by authors working in six countries reflect the journal's focus. The role of institutional quality, factors that determine the impact and efficiency of macroeconomic policies, and the impact of new megatrends, such as digitalisation and the green transition. They present empirical analyses of the growth effects of EU funds and the impact of fiscal and administrative capacities on sustainable development, look into the working of the labour market in the euro area post-COVID-19, investigate the financial and regulatory dimension of environmental sustainability, the impact of online privacy violation, and probe the classical monetary policy issue, the link between borrowing and inflation in Turkey. We hope you will enjoy reading these articles. Follow us on social media and share your comments with us.

"Volume 75 (2025): Issue 2 (Jun 2025)" published on 30 Jun 2025 by Akadémiai Kiadó.

21/06/2025

MERABET, M. and BOUHABEL, A. Assessing New Dimensions of Environmental Sustainability: The Role of Financial Stability, Environmental Taxes, and Policy Stringency in Driving Green Technology Adoption, Acta Oeconomica Volume 75 Issue 2

This paper examines the effects of financial stability, environmental taxes, and policy stringency on green technology adoption in 33 OECD countries from 2000 to 2021. Using a two-step system GMM approach, the study explores short- and long-term relationships. The findings reveal that financial stability and stringent environmental policies significantly promote the adoption of green technology. In contrast, environmental taxes appear to be ineffective in driving this transition. These results are robust, confirmed through the Method of Moment Quantile Regression (MMQR) approach, demonstrating consistency across different quantiles. Causality analysis further affirms the findings, highlighting the crucial role of financial stability and strict policies in improving environmental outcomes. This research underscores the importance of integrating financial and environmental strategies to foster sustainable growth and green technology adoption

Abstract This paper examines the effects of financial stability, environmental taxes, and policy stringency on green technology adoption in 33 OECD countries from 2000 to 2021. Using a two-step system GMM approach, the study explores short- and long-term relationships. The findings reveal that finan...

21/06/2025

OGUZHAN YELKESEN1 and ELMAS YELKESEN How do fiscal and administrative capacities influence sustainable development? A panel approach for Central and Eastern European countries Acta Oeconomica Volume 75 Issue 2
Over the past decade, sustainable development has been a central focus of political, social, and economic agendas for policymakers and international organizations. However, generating the necessary resources and allocating them effectively remain major challenges in achieving the global Sustainable Development Goals (SDGs). Using the Driscoll-Kraay standard errors model, this study analyzes the effect of fiscal and administrative capacities, which are the key mechanisms for resource creation and effective resource allocation, on sustainable development for 15 Central and Eastern European (CEE) countries between 2007 and 2020. The empirical findings reveal that fiscal and administrative capacities have a positive impact on sustainable development across all CEE countries. However, when differences in levels of development are considered, the influence of both fiscal and administrative capacity becomes insignificant in developing CEE countries, while remaining positive and significant in developed CEE countries. This pattern indicates that the positive contributions of fiscal and administrative capacity in CEE countries are primarily derived from those that are more developed. These findings highlight the significance of fiscal and administrative capacities in influencing sustainable development in CEE countries, while also indicating that coordination within these countries is crucial for achieving the SDGs. This is the first study to analyze the effects of both fiscal and administrative capacity on sustainable development within an institutional framework.

Abstract Over the past decade, sustainable development has been a central focus of political, social, and economic agendas for policymakers and international organizations. However, generating the necessary resources and allocating them effectively remain major challenges in achieving the global Sus...

21/06/2025

Bruno Škrinjarić, Jelena Budak, Sunčana Slijepčević, and Edo Rajh Online behavior changes: Resilience to online privacy violation. Acta Oeconomica Volume 75 Issue 2
The digital population and online activities are growing globally, while online privacy breaches remain a concern. These violations may affect users' future online behavior depending on their resilience. This research develops and tests a model of internet users' resilience to online privacy violations using the survey data collected by computer-assisted telephone interviewing on a sample of adult Internet users in Croatia who have experienced (at least subjectively) the incident of violating their online privacy in the past three years (1,000 respondents, 18–86 years of age, mean age of 43 years, standard deviation of 15 years). The PLS-SEM technique was used to determine the antecedents of resilience and its impact on online behavior. Results show that resilience is influenced by personality traits: extroverted and open individuals are more resilient, while neuroticism reduces resilience. Users are concerned about online privacy or anxious about digitalization, and those who apply privacy protection measures tend to be less resilient. More resilient individuals view privacy violations as less severe and maintain or increase their online activities. The general recommendation that stems from our findings is to improve the digital literacy of the internet population in parallel to the ever-increasing level and range of online activities.

Abstract The digital population and online activities are growing globally, while online privacy breaches remain a concern. These violations may affect users' future online behavior depending on their resilience. This research develops and tests a model of internet users' resilience to online privac...

20/05/2025

Acta Oeconomica celebrating its 75th volume - an interview with the Co-Editors-in-Chief
https://akjournals.com/page/acta-oeconomica-75/acta-oeconomica-celebrates-its-75th-volume
AKJournals

Acta Oeconomica begins its 75th volume this year. On this occasion, Editors-in-Chief István P. Székely and Dóra Győrffy share their insights on the journal’s current position and address key issues in the field of Economics.

04/05/2025

The 2025/1 Issue of Acta Oeconomica is out. The research questions analysed in the six articles by authors working in seven countries reflect the journal's focus. They present empirical analyses for Central and Eastern European economies regarding the determinants of FDI and the efficiency of insurance companies, look into theoretical issues related to the development of the region: the evolution of the welfare state and the role of institutions in allocating entrepreneurial skills, and investigate the broader issue of the longer-term relationship between savings and investment. We hope you will enjoy reading these articles.

"Volume 75 (2025): Issue 1 (Mar 2025)" published on 31 Mar 2025 by Akadémiai Kiadó.

04/05/2025

Listen to the Authors - a new series of short videos in which the authors of newly published articles tell you about their research.

2025 Issue 1
SUZANA BALABAN, MARKO MILIĆ and MARKO MILOŠEVIĆ
Short- and long-run exchange rate volatility and FDI: A dynamic panel study of transition economies
https://youtube.com/shorts/_z5IaqvuGVw
Link to the article https://doi.org/10.1556/032.2025.00001

04/05/2025

Listen to the Authors – a new series of short videos in which the authors of newly published articles tell you about their research.

2025 Issue 1
MARIJA KOPRIVICA, JELENA KOČOVIĆ, TATJANA RAKONJAC-ANTIĆ
What drives efficiency of insurance companies in Western Balkan countries?

https://youtu.be/lkVahYg4tDk
Link to the article: https://doi.org/10.1556/032.2025.00002

30/03/2025

MUSA ABDU - FUAT OĞUZ: Game theoretic analysis of institution-entrepreneurship links
Volume 75 Issue1
This paper aims to contribute to the ongoing discussion surrounding the influence of institutions on the distribution of entrepreneurial talents across productive, unproductive, and destructive activities. Existing literature suggests that societies can exhibit purely destructive, unproductive, or productive entrepreneurship characteristics. Employing a game theoretic framework that integrates insights from entrepreneurship and institutional studies, we explore the dynamics of entrepreneurial talent allocation. Introducing an institutional parameter into the Prisoners’ Dilemma Game, we clarify the mechanism by which a society transitions between different forms of entrepreneurship, contingent on the value of the parameter (ranging from -1 to +1). Our findings underline a continuous transition, revealing the prevalence of either a predominantly rent-seeking society or one characterized by productive entrepreneurship, with variations based on the proximity of the institutional parameter to perfection or imperfection.

Abstract This paper aims to contribute to the ongoing discussion surrounding the influence of institutions on the distribution of entrepreneurial talents across productive, unproductive, and destructive activities. Existing literature suggests that societies can exhibit purely destructive, unproduct...

30/03/2025

WOOSIK YU: New implications of aid for trade: Leveraging development aid for promoting bilateral trade
Volume 75 Issue1

This paper, using the OECD DAC’s ODA (Official Development Assistance) database and UN Comtrade’s trade data, empirically demonstrates that donor countries can utilize development aid as an instrument to build stable trade relationships and expand trade with recipient countries by strategically directing aid to targeted recipients. The empirical results indicate that a bilateral donor-recipient pair is more likely to establish a stable trade relationship and experience greater growth in bilateral trade flows than in the absence of such aid. The effects of aid on trade stability persist across various settings: whether the trade type is export or import, whether the traded goods are final or intermediate, and whether the aid is provided as loans or grants. The impacts of aid on fostering bilateral trade growth are also significant. Particularly, concessional loans are far more effective than grants in promoting donor-recipient trade growth, especially in stimulating the recipient’s imports from the donor. These findings suggest that donor countries can leverage development aid as a strategic measure to mitigate the risk of global supply chain disruptions and secure overseas export
markets during external trade shocks, such as the global financial crisis and the COVID-19 pandemic.

Abstract This paper, using the OECD DAC's ODA (Official Development Assistance) database and UN Comtrade's trade data, empirically demonstrates that donor countries can utilize development aid as an instrument to build stable trade relationships and expand trade with recipient countries by strategic...

30/03/2025

SUZANA BALABAN - MARKO MILIĆ - MARKO MILOŠEVIĆ: Short- and long-run exchange rate volatility and FDI: A dynamic panel study of transition economies
Volume 75 Issue1
The paper decomposes the real and nominal exchange rate volatility using the component GARCH specification to examine their impact on foreign direct investment (FDI) in 23 transition economies at aggregated and disaggregated levels. The paper employs instrumental variables within the SYS-GMM estimation procedure to provide the results’ reliability and consistency. According to the results, the impact of long-run real exchange rate volatility on FDI differs among economic activities. These findings may be explained by the fact that the key motives of foreign investors entering the manufacturing sector will likely differ from those of foreign investors entering the financial intermediation or transport and communication sector. On the other hand, the short-run real exchange rate volatility and the long- and short-run nominal exchange rate volatility are not significant determinants of FDI in the transition economies covering the period from 2000 to 2023.

Abstract The paper decomposes the real and nominal exchange rate volatility using the component GARCH specification to examine their impact on foreign direct investment (FDI) in 23 transition economies at aggregated and disaggregated levels. The paper employs instrumental variables within the SYS-GM...

05/05/2024

Call for Papers for the 2024 Special Issue of Acta Oeconomica