Consumer Confidence and Real Economic Growth in the Eurozone

Borisov, Lachezar

doi:10.30525/2256-0742/2022-8-3-7-13

Cited by 4 publications

(2 citation statements)

References 9 publications

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“…Responsible attraction (accumulation) and responsible spending of funds by an institutional investor generally builds public confidence (of citizen investors who are consumers of financial services) in investment activities through institutional investors. At the same time, there is a direct correlation between consumer confidence and real GDP growth in the euro area over the quarter (Borisov, 2022).…”

Section: Institutional Investor Conceptmentioning

confidence: 94%

Assessment of Key Markets for Institutional Investors in Ukraine in the Context of War

Vazhynskyi,

Pohoretskyi,

Toporetska

2023

BJES

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The article is devoted to the assessment of key markets for institutional investors in Ukraine in the context of Russia's full-scale invasion. The purpose of this study is to assess the institutional investor market in Ukraine during the war. To achieve this goal, it is necessary to solve the following tasks: to study the legal status of an institutional investor in Ukraine and its types, to assess changes in the institutional investor market after the start of a full-scale invasion, to identify key risks that exist in the market now, and to provide proposals on the need to improve state regulation of the institutional investor market to protect citizen investors in times of war. The methodological basis of the study was formed by general scientific methods of cognition: the dialectical method of cognition of the phenomena of the surrounding reality and the comparative legal method for establishing the legal status of an institutional investor, methods of logic (analysis, synthesis, induction, deduction, analogy), economic analysis, absolute and comparative advantages and statistical methods for analysing the market of institutional investors and making proposals, mathematical methods for calculating the volume of the market of institutional investors. In accordance with the systemic and structural approach, the institutional investor market was assessed by each of the structural elements of this market. The authors propose to consider an institutional investor as a financial intermediary that attracts and accumulates funds of individual investors (consumers of financial services) and carries out investment activities in the interests of individual investors aimed at financing socially and economically important sectors of the economy for the state and society. The authors pay special attention to the concept of responsible business conduct, pointing out that today, socially responsible business conduct is extremely important for the activities of an institutional investor, which includes "responsible attraction (accumulation) of funds" and "responsible spending (investment) of investors' funds". The study found that the main markets for institutional investors in Ukraine – banking, insurance and private pensions – showed stability and a slight increase in key indicators, which is very positive for Ukraine today. However, in the long term, there are a number of risks that should be taken into account by the government when formulating the state policy on the activities of institutional investors in these markets to protect the interests of citizen investors. The article provides suggestions on the main areas of improvement of the legislation on the activities of institutional investors to minimise the risks of citizen investors.

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Section: Institutional Investor Conceptmentioning

confidence: 94%

Assessment of Key Markets for Institutional Investors in Ukraine in the Context of War

Vazhynskyi,

Pohoretskyi,

Toporetska

2023

BJES

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“…It is indicate that significant role played by consumer sentiment in influencing economic fluctuations. Borisov, L. (2022). Examines "Consumer confidence and real economic growth in the Eurozone".…”

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confidence: 99%

Consumer Confidence Index and Economic Growth- Indian Context after the Covid-19

2023

European Economic Letters

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The Consumer Confidence Index (CCI) holds significant importance in providing insights to policymakers and economic forecasters regarding the present and future state of the economic. These indices wield a unique influence on shaping both governmental and business decisions. The consumer confidence index serves as a barometer of the optimism consumers feel about the state of the economy, as evidenced by their saving and spending patterns, which in turn contribute to the growth of the national economy. This study relied on secondary data obtained from the Reserve Bank of India (RBI) website. The data encompassed rounds 67 to 69, covering the time period of July, September, and November 2022. The research employed various analytical techniques, including frequency analysis, chi-square analysis, and ANOVA analysis in this study. The variables such as Educational qualification, Occupation, monthly income, Economic conditions compared to last one year and Household income of the respondent are used to achieve the objective. From this study, it is found that there is an association between the respondent monthly income & their educational qualification and monthly income & their number of members in the family. But Anova analysis show that there no difference between the respondent's perception on their economic condition and household income. It indicates that all the respondents in this study perceived same that there is no much improvement in their economic conditions and household income.

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Economic Activity and Bank Efficiency in Eu Countries

Mihaylova-Borisova

2024

BJES

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The performance of the financial sector is of paramount importance in the development of an economy. The financial sector serves as the primary conduit between those who save and those who invest. By virtue of the information available regarding both groups of economic agents, this conduit facilitates the reduction of information asymmetries and enables more expedient investment targeting in specific sectors deemed crucial for economic growth. For decades, research has been conducted on the relationship between the financial sector and economic growth in individual countries or groups of countries with the aim of providing governments with recommendations on specific measures that will improve the welfare of economic agents and achieve higher economic growth. It also examines whether there is a link between economic growth and financial sector development, or vice versa, from economic growth to financial sector development. In light of the pivotal role of financial intermediaries in the economic advancement of nations, this study seeks to examine and evaluate the extent to which the financial sector in EU countries fosters economic growth, or vice versa. Furthermore, the study examines and assesses the extent to which the financial sector contributes to economic growth, in addition to the direction of the relationship between the two. The data set encompasses the period between 2010 and 2022. In order to achieve the objectives of the study, a panel model is applied to the EU countries. Two indicators are employed to capture financial sector activity: namely, banking efficiency and market capitalisation. The non-parametric DEA method is employed for the purpose of more fully capturing and characterising the EU banking sector, with the objective of measuring banking efficiency. This study eschews the use of traditional indicators in favour of a more complex indicator, namely technical efficiency, which is measured by DEA. This approach allows for the conversion of inputs and outputs into a single measure of bank efficiency. In order to account for the growing role of capital markets in the decades following the global financial crisis of 2008, the estimated models include market capitalisation as an additional factor. The results of the balanced panel model estimation confirm that the EU countries are characterised by the "supply-side hypothesis", i.e., financial intermediaries are important for economic development, and the estimated relationships are positive. However, the models highlight the pivotal role of the banking sector in driving economic growth in the older EU countries, as market capitalisation has been demonstrated to have a limited impact on economic growth in these countries. This suggests that those responsible for economic policy should prioritise the improvement of the banking sector and encourage banks to play a more active role in intermediation, with the aim of achieving economic growth.

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Consumer Confidence and Real Economic Growth in the Eurozone

Cited by 4 publications

References 9 publications

Assessment of Key Markets for Institutional Investors in Ukraine in the Context of War

Assessment of Key Markets for Institutional Investors in Ukraine in the Context of War

Consumer Confidence Index and Economic Growth- Indian Context after the Covid-19

Economic Activity and Bank Efficiency in Eu Countries

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