Connectivity, especially in the transport sector, has become a ubiquitous issue in the South Caucasus in recent years. Transport connectivity also plays a central role in the European Union's policy towards the region. As part of its Global Gateway Initiative, the EU has made a commitment that...

Chinas Außenpolitik und internationale Beziehungen haben sich seit den 1980er Jahren stark verändert. Eine Vielzahl unterschiedlicher Akteure nimmt inzwischen Einfluss auf die Gestaltung der chinesischen Außenbeziehungen. Außerdem ist parallel zur erfolgreichen ökonomischen Entwicklung auch...

We present evidence on the changing dynamics of the yield curve from 1998 to 2011. We identify four different phases. As expected, the financial crisis represents a period of elevated yield volatility, but it can be split into two distinct periods. The split occurs when the Federal Reserve...

In the paper we test for the different reactions of stock markets to the current financial crisis. We focus on Central European stock markets, namely the Czech, Polish and Hungarian ones, and compare them to the German and U.S. benchmark stock markets. Using wavelet analysis, we decompose a time...

In the paper we research statistical properties of the Central European stock markets. We focus mainly on the tail behavior of the Czech, Polish, and Hungarian stock markets and compare them to the benchmark U.S. and German stock markets. We fit the data of the 4-year period from March 2005 to...