The aim of the paper is to discuss the course of development of methodology of economic convergence analyses, which points up the necessity of taking into consideration spatial connections among regions in regional growth models. It presents empirical models of ß-convergence concerning the...

The main goal of the work is to present the empirical verification of the investment attractiveness in a given world financial region. The attractiveness of a region is represented by the share of assets from this region in the optimal portfolio. The multivariate GARCH model has been used to...

The main purpose of the paper is to study the degree to which the Brent crude oil price cycle is correlated and synchronized with business cycle in a set of chosen Central Eastern European (CEE) economies. To indentify the oil price cycle and business cycles for chosen individual countries the...

In the article we examine what determines the Polish sovereign Credit Default Swap dynamics. We consider not only measures of changes of the economic situation of the country, but also the impact of the international data. We find that the dynamics of the Polish sCDSs is very vulnerable to the...

We analyze the dynamics and strength of linkages between the Czech, Hungarian and Polish stock markets after the EU accession of the corresponding countries. In addition, we examine linkages between each of the markets and developed markets (European and US). The analysis is based on the daily...

This paper presents a fractal analysis application to the verification of assumptions of Fractal Market Hypothesis and the presence of fractal properties in financial time series. In this research, the box-counting dimension and pointwise Hölder exponents are used. Achieved results lead to...

This article attempts to compare conclusions made about market contagion based on the periods indicated by using the Markov-switching model and based on a range for unconditional correlations as well as on arbitrary arrangements. DCC-model was used to control for correlation change over time....

The aim of this paper is to identify Granger causality between energy consumption and economic growth in post-communist countries in the period 1993 to 2011. Bootstrap panel Granger causality test was used as a research tool in order to accommodate for countryspecific heterogeneity and to avoid...

In the paper we argue that a general formula for the unconditional kurtosis of sign-switching GARCH(p,q,k) processes proposed by Thavaneswaran and Appadoo (2006) does not give correct results. To show that we revised the original theorem given by Thavaneswaran and Appadoo (2006) for the special...

The aim of this article is to present some non-classical risk measures which are commonly used in financial investments, including investments in assets from the market of precious non-ferrous metals. The time series of log-returns of gold, silver, platinum and palladium prices are considered....