Recent processes of increasing economic and financial integration of countries foster the development of their economies and financial system, however, make small open economies more prone to cross-border contagion risk that is especially relevant for the Central and Eastern European (CEE) countries. However, despite the perception of threats and implications of cross-border contagion risk for the CEE countries, there is a lack of a permanent strategic analysis enabling to detect the signs of risk occurrence on the early stage. Therefore, the research project idea – to develop the strategic monitoring system for cross-border contagion risk for different CEE countries enabling to detect the signs of risk occurrence on the early stage and take timely measures to mitigate the negative implications of risk occurrence.
The aim of the research project – to assess the threats and implications of cross-border contagion risk occurrence on the Central and Eastern European countries (CEECs’) and to develop the strategic monitoring system for cross-border contagion risk.
The object – economic and financial linkages between countries.
The tasks of the research project:
1. To assess the level of economic and financial integration of the CEECs’ at the regional and global level 2. To identify the channels and sources of cross-border contagion risk transmission those are relevant for the CEECs’
3. To identify the events of cross-border contagion risk transmission in the CEECs’ and systemic events (shocks) those caused the propagation of this risk 4. To assess the implications of cross-border contagion risk transmission in the CEECs’ from retrospective viewpoint 5. To develop the strategic monitoring system for cross-border contagion risk for different CEECs’
6. To formulate the recommendations for policy makers aimed for mitigation the impact of cross-border contagion risk transmission
The scope of research project – 11 CEECs’: Bulgaria, Czech Republic, Estonia, Croatia, Hungary, Latvia, Lithuania, Poland, Romania, Slovak Republic, Slovenia.
Project funding:
Projects funded by the Research Council of Lithuania (RCL), Projects carried out by researchers’ teams
Period of project implementation: 2015-04-01 - 2018-03-31
Project coordinator: Kaunas University of Technology
