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Impact of Cryptocurrency Markets on Eastern European Economies: A Structural Equation Modeling Analysis

Sun, 01 Mar 2026 00:00:00 GMT

Title: Impact of Cryptocurrency Markets on Eastern European Economies: A Structural Equation Modeling Analysis Authors: Вдовічен, Данило Анатолійович / Vdovichen, Danylo; Королюк, Юрій Григорович / Koroliuk, Yurii Abstract: The rapid expansion of cryptocurrency markets presents both opportunities and challenges for Eastern European economies, particularly amid post-Soviet transitions and geopolitical instability. Key problems investigated include market volatility, regulatory fragmentation, informal economy overlaps, environmental costs of mining, and the vulnerability exposed by the October 2025 crypto crash, which triggered $19 billion in liquidations due to U.S.-China trade tensions. The aim of this research is to empirically evaluate the influence of cryptocurrency adoption on macroeconomic performance in the region, focusing on fostering financial inclusion and trade efficiency while mitigating risks. Research objectives encompass assessing direct and mediated effects of crypto penetration on GDP growth, inflation stability, and unemployment reduction; testing hypotheses on transaction volumes, user adoption, and Virtual Asset Service Providers (VASPs) as drivers of economic outcomes; and deriving policy insights for sustainable integration. The methodology employs Structural Equation Modeling (SEM) on a balanced panel dataset from 11 Eastern European countries (Poland, Czechia, Slovakia, Hungary, Romania, Bulgaria, Croatia, Lithuania, Latvia, Estonia, Ukraine) over 2020–2024 (N=55). Variables include Crypto_Users (%), Crypto_Transactions (billion USD), ln_VASPs, GDP (billion EUR), Inflation (%), and Unemployment (%). Data sourced from Chainalysis (2024) and Eurostat (2024) were analyzed using robust maximum-likelihood estimation with 5,000 bootstraps, incorporating country fixed effects. Model fit indices (χ² p=.168, RMSEA=.052, CFI=.968) confirm robustness. Results indicate significant positive paths from transaction volumes (β=.59, p<.001) and VASPs (β=.48, p<.001) to GDP, with partial mediation (indirect β=.16, p=.008); user adoption hedges inflation (β=.29, p=.008) but shows no unemployment impact. Conclusions underscore crypto's GDP-boosting potential (e.g., 2% uplift in Romania) amid risks, advocating harmonized regulations to balance innovation and stability in Eastern Europe. Description: https://www.jacsm.ro/view/?pid=40_1

Mathematical Modeling for Enhancing Business Strategies in the Hotel and Restaurant Industry: Implications for Economic Stability

Wed, 01 Jan 2025 00:00:00 GMT

Title: Mathematical Modeling for Enhancing Business Strategies in the Hotel and Restaurant Industry: Implications for Economic Stability Authors: Круглянко, Андрій Вікторович / Kruhlyanko, Andriy; Пенюк, Валерія Олександрівна / Peniuk, Valeriia; Урсакій, Юлія Анатоліївна / Ursakii, Yuliia; Верстяк, Оксана Миколаївна / Verstiak, Oksana Abstract: This paper explores the application of mathematical modeling as a strategic tool to enhance business operations in the hotel and restaurant industry, with a focus on promoting economic stability. The primary objective is to identify and analyze key factors influencing business performance, including customer satisfaction, operational efficiency, and resource allocation. Using quantitative methods, we developed various mathematical models to simulate different business scenarios and assess their potential impact on profitability and sustainability. The study employs data from industry case studies and surveys to inform the models, allowing for a comprehensive analysis of trends and patterns. Results indicate that mathematical modeling can significantly improve decision-making processes by providing insights into optimal pricing strategies, inventory management, and workforce allocation. The findings underscore the importance of adapting to changing market conditions and consumer preferences through predictive analytics. Overall, the integration of mathematical modeling into business strategies enhances operational effectiveness and contributes to the long-term economic stability of hotels and restaurants. This paper stresses industry stakeholders' need to embrace datadriven approaches to navigate challenges and capitalize on opportunities in a competitive landscape. Mathematical modeling helps businesses in the hospitality sector improve resilience and adaptability, driving sustainable growth.

Improving the Efficiency of Strategic Management in Frontier Regions

Thu, 01 Jun 2017 00:00:00 GMT

Title: Improving the Efficiency of Strategic Management in Frontier Regions Authors: Королюк, Юрій Григорович / Koroliuk, Yurii; Tolub’iak, Vitalii Abstract: The article reveals a new methodological approach to efficiency in regional administration by the means of region’s social and economic system (SES) model putting into practice the working out of the program oriented documents. The approach allows defining the possible ways of mutual profitable regional decisions from the point of view of frontier regions economic development and taking into consideration social interests according to Pareto optimality. We have conducted the scientific survey together with the methods of scenario administration, that provide the transition from the reactive SES administration approach to the active (preventive) one aimed at prevention of crisis or irreversible processes. The mentioned above survey permits avoiding the problem of the standardized statistic indices system absence, as well as the absence of informational databases with foreign neighbouring regions and eluding the problem of such data comparisons accordingly.В статті пропонується новий методичний підхід до забезпечення дієвості регіонального управління шляхом впровадження моделі соціально-економічної системи (СЕС) регіону в практику розробки програмно-цільових документів. Підхід дає змогу визначити можливі варіанти взаємовигідних регіональних рішень з позицій розвитку економіки прикордонних регіонів і врахування соціальних інтересів згідно Паретто-оптимуму. Здійснені наукові розвідки, у поєднанні із методами сценарного управління, забезпечують перехід від реактивного підходу в управлінні СЕС до активного (превентивного) управління на упередження виникнення кризових чи незворотних процесів. Зазначене дозволяє уникнути проблеми відсутності уніфікованої системи статистичних показників та інформаційних баз даних із закордонними регіонами сусідами, та відповідно уникнути проблеми порівняльності таких даних.

Деякі аспекти удосконалення методики оцінки ефективності реальних інвестицій

Mon, 01 Jan 2007 00:00:00 GMT

Title: Деякі аспекти удосконалення методики оцінки ефективності реальних інвестицій Authors: Рилєєв, Сергій Володимирович / Rylieiev, Serhii Abstract: Розглянуто напрями удосконалення методики вибору найбільш вдалого варіанту інвестування в умовах невизначеності та ризику на основі використання методу комплексної оцінки господарської діяльності. Directions of improvement of method of choice of the most successful variant of investing are considered in the conditions of vagueness and risk on the basis of the usage of method of complex estimation of economic activity.