Viktor Koziuk

Viktor Koziuk
West Ukrainian National University · Department of International Economics (1)

Professor

About

43
Publications
7,695
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217
Citations

Publications

Publications (43)
Article
Full-text available
This study develops a comprehensive framework for social media marketing (SMM) strategies aimed at enhancing business effectiveness. It begins by examining the transformative role of digital technologies in reshaping business practices, particularly through SMM. A detailed review of the literature explores the impact of SMM on business growth, bran...
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The privacy and anonymity of transactions are considered some of the biggest challenges when designing Central Bank Digital Currencies (CBDC). While many surveys show that people strongly prefer privacy in their transactions, behavioral theories suggest that human behaviour in digital spaces is more complex, a phenomenon known as the privacy parado...
Article
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Privacy/anonymity of digital transactions is an issue that potentially may affect demand for central bank digital currency. Does discussions about privacy paradox related to CBDC? In this paper, basing on the respondent’s survey, we construct indexes of privacy preferences (in general, in digital and financial environment) to identify relations bet...
Article
Digital transformation has put significant pressure on monetary sovereignty. This pressure is channeled through the introduction of private digital payment services, cross-border operations, currency substitution, and the internationalization of foreign currencies. While most contemporary research views the introduction of a central bank digital cu...
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Social media is extremely popular among users all over the world. Social media is becoming not only a means of communication, but also a powerful platform for conducting business. The purpose of the research is to analyze the use of modern social media tools and determine their impact on the purchasing behaviour of Internet users and the effectiven...
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Digitalization and geopolitical challenges are increasingly being viewed as preconditions for the transformation of global monetary order towards stronger multipolarity. However, according to traditional approaches, current status quo is more viable because of the technological neutrality of reserve currency status. At the same time, alternative ap...
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Introduction. The financial system, which is constantly changing due to the emergence of new types of players and new financial instruments, confirms the need for the evolution of financial regulation, which requires a constant analysis of how to build a well planned, efficient and most effective policy. It is the research of 2022 Nobel Laureates B...
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Gold holdings increased during recent time. Geopolitical factors could be responsible for such shift taking into account rising number of conflicts in the world since 2014. However, optimal share for gold in external assets is still disputable. The paper provides empirical tests to identify political economy factors of central bank’s gold holdings....
Article
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На період воєнного стану НБУ призупинив таргетування інфляції, але анонсував повернення до нього в найближчий час з усіх можливих моментів. Повоєнна нормалізація монетарної політики в Україні є історично безпрецедентною, оскільки більшість відомих випадків стосується перезапуску грошового обігу і налагодження банківської діяльності, створення центр...
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Evolution of digital money demonstrates that CBDC (Central Bank Digital Currency means a digital form of traditional fiat currencies) design is really challenging. While technically possible CBDC solutions are visible, much of institutional aspects are rest to be unsolved. One of the issues is a degree of privacy and anonymity. All historical forms...
Article
Over the last 20 years, central banks have exhibited both declining demand for gold and tendency to substantially expand gold holdings. At the same time, the aggregate share of gold in global exchange reserves remains considerably volatile. Growing political and military instability in the world is a strong argument in favour of central banks’ rene...
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Cryptocurrencies show tremendous growth by market capitalization, however Bitcoin cross-country holdings are still in question. The purpose of the paper is to show that inflation discontent with the rule of law failures can explain why residents of different countries are prone to cryptocurrency holdings. The level of financial development is also...
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The purpose of this study was to explore the indirect and direct relationships of Big-5 and dark personality traits (i.e., extroversion, neuroticism, agreeableness, openness, conscientiousness, narcissism, Machiavellianism, psychopathy, sadism, and spitefulness) with job performance via perfectionism, stress, and social media addiction. A total of...
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The gold is still a reserve asset with specific features yet the variants of reserve management have improved considerably. Tendency to maintain ultra-low real interest rates potentially should affect the upward shift in demand on gold because alternative costs of holding it are declining. Demand for gold has indeed risen from the side of central b...
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The system of environmental taxes in EU countries is expected to have an impact on reducing greenhouse gas emissions. Since 2010 the emphasis on environmental regulation has shifted towards the EU 2020 strategy. This research continues the previous author’s studies about the environmental measurement of welfare economics. The article tests the hypo...
Book
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У монографії досліджено сучасні тренди трансформації держави добробуту в контексті якості інститутів, екологічної культури та доступності блага «чиста екологія», що стає новою формою егалітарності. Підтверджено гіпотезу про те, що суспільне благо «чисте довкілля» не є винятково втіленням преференцій економічних агентів з високим рівнем доходів, оск...
Article
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To make an economic assessment of the effectiveness of the environmental tax system in European countries. The hypothetical question is how and when changes in (increasing or decreasing) the rates of different types of environmental taxes affect the pollution of the environment.
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The article is devoted to the consideration of the ethical and ecological aspect of the framework conditions for the welfare state formation. The hypothesis of the negative influence of high ethnic fractionalization on the ecological situation in a country that in the classical welfare states is offset by the high efficiency of government through t...
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Based on polling of citizens of different age groups living in Kyiv, Ternopil, Donetsk, Sumy, Zaporizhia, Poltava and Volyn regions of Ukraine, we tested thehypothesis thatthere is alow demand for the public good « a clean environment». We found that 60% of citizens are not satisfied with the level of awareness about the ecological situation in the...
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In the 21 st century, in addition to the generally well-known indicators of material well-being, in the modern paradigm of the welfare state, the quality of the ecological environment is gaining an ever-increasing role. In the context of interdisciplinary research, the formation of the ecological consciousness as a way of being is important for tod...
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The change in the views on the welfare state, which ceases to be associated only with the scale of social transfers, redistribution, or extension of the perimeters of market process regulation, has been researched, and is increasingly perceived in new coordinates: «quality of institutions and effective governance – inclusiveness – environmental fac...
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Post-crisis literature concentrates on the problem of low inflation economic environment for which traditional factors of macroeconomic instability are rather not important. However, is this approach adequate in the case of post-socialist countries for whom the validity of euro-integration divide of institutional path of development takes place? Ca...
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Introduction. It is focused on the problem inflation targeting regime evolvement in emerging market countries. The generalization of key problems is done relying on literature review and overview of empirical works. Purpose of the paper is to show how the way of thinking about inflation targeting in emerging market countries is changed according to...
Article
The effectiveness of self-stimulating environmental regimes in unsteady economic systems is considered in the article on the basis of the conducted behavioral experiment. It is shown that rational choice, as a methodological basis is not always a sufficient prerequisite for the development of effective environmental regimes. It is substantiated tha...
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Introduction. EU countries are showing an increasing trend towards the priority of the public good “clean ecology”. Environmental taxation not only exerts fiscal, but above all, corrective influence on the behavior of economic agents. Nonetheless, the fiscal design of environmental taxes and their composition as a source of budget revenue remains a...
Article
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In the 21st century, in addition to the generally well-known indicators of material well-being, in the modern paradigm of the welfare state, the quality of the ecological environment is gaining an ever-increasing role. Besides that, the modern definition of welfare state takes into account not only environmental dimension, but also the quality of i...
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Is experience of financial imbalances driving intensity of macroprudential policy instruments use? Theoretically - yes, because they support to diminish conflict between price, exchange rate and financial stability. In the same time CEE countries demonstrate more complicated picture. Such countries experienced strong structural determined vulnerabi...
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This paper investigates the relationship between oligarchic economies and the crony sector development, which includes industries with the dominating rent-seeking behavior. In order to analyze the period from 2006 till 2016, cross-countries’ data on the Power Distance Index, Crony Capitalism Index, Sustainable Society Index, among with the environm...
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In this study, the author argues that maintaining price stability in commodity economies is influenced by their resource rent distribution, and that economic stability is extremely sensitive to the nature of a political regime. The commodity factor alone is shown not to be an impediment to maintaining price stability and implementing inflation targ...
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The article analyzes the effect of «resource curse» in view of the inherent characteristics of resource-dependent countries: insufficient development of institutions, domination of informal rules and procedures in making managerial decisions, falling quality of life for the overwhelming majority of population, state usurpation in the interests of t...
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Introduction. Prediction that price stability as well as inflation targeting in commodity rich countries is very fragile typically based on logical relation between commodity prices fluctuations and macroeconomic instability. But in the same time, while counter-cyclical instruments appear, commodity prices shock should be taken as supply shock. Thu...
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Introduction. The global trend of urban concentration and the agglomeration effects of production, consumption, capital movements, asset accumulation, and innovation generate the issue of how environmentalism and urbanization correlate. The gradient increase of the technogenic press on the environment from small settlements to large cities causes t...
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This study argues that post-crisis discussions on central bank independence are less about a choice of a level of independence but more about a relation between the independence and the central bank mandate in financial stability. An offered hypothesis states that an increasing role of financial factors in the macroeconomic policy agenda has led to...
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EMU imbalances correction sparked active discussions on choosing the optimal policy for mitigating risks of divergence and restoring competitiveness. Concentration on balance of payments is within the framework of simultaneously solving the problem of external imbalance, capital outflow, restoring growth, and preventing the opposing vectors of traj...
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This article introduces the hypothesis that resource-rich countries display a low degree of central bank independence (CBI). This hypothesis is proven based on multivariable regression, but the influence of resource factors is not considered strong enough compared with previous inflationary experience and the characteristics of the political regime...

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