Suchergebnisse

This paper develops a simultaneous equations model to test the process of interaction between foreign direct investment, exports and economic growth in three Middle Eastern countries: Egypt, Jordan, Oman, and test for any possible feedback effects. Most of the FDI in these countries flows from the EU. The simultaneous equations model results suggest that higher rates of economic growth result in a greater inflow of foreign capital. The regression results also suggest that interest rate differentials exert a much stronger effect than economic growth on the attraction of foreign capital in the case of Egypt. However, this variable does not seem to play a significant role in the case of Oman. Moreover, the simultaneous equations model results suggest that there is a feedback effect in the relationship between economic growth and capital inflow in all sample countries. A greater inflow of foreign capital leads to growth in the exports of good and services. The expansion in exports leads to growth in GNP, which in turn, encourages the attraction of more foreign capital. ; peer-reviewed

Immigration is one of the most debated topics in Europe today, yet little is known about the overall effect of its multiple impacts. The analysis suggests natives need not worry. Increasing immigrant population shares have no statistically significant effects on natives' well-being in 28 European Union countries over the years 1990- 2017 (EU12) and 2005-2017 (new member states) using macro data aggregated from Eurobarometer surveys. Immigration does not statistically affect natives' well-being across all scenarios, such as: when observing the raw data or accounting for reverse causality and omitted variables using instrumental variable methods; accounting for whether or not immigrants are from the EU; and for population subgroups, notably the poorly educated and elderly. Refugees also do not statistically affect the well-being of natives. Any negative relations that are observed are not statistically significant and exhibit small magnitudes.

This paper's goal is to highlight how happiness affects the level of shadow economy, by using many control variables within different types of potentially determining factors of shadow economy. Another main contribution consists in the systematic comparison between old and new European Union member states in terms of determinants of shadow economy, including happiness. Our findings consist in the fact that happier people are more likely to act honestly, thus causing a decrease in the size of shadow economy and this result is valid both for old and new European Union countries. In addition, we found that the quality of public governance and the richness of a country are associated with a lower propensity towards shadow economy for all the member states. However, the relationship between public governance and shadow economy are never sig-nificant when the happiness and richness variables vary simultaneously. Our research reveals that the shadow economy in European Union countries is explained in percent of about 62% by richness and happiness of the people. Contrary to our expectations, the fiscal pressure seems not to be a determinant for shadow economy in the European Union space. First published online 4 December 2016

This paper's goal is to highlight how happiness affects the level of shadow economy, by using many control variables within different types of potentially determining factors of shadow economy. Another main contribution consists in the systematic comparison between old and new European Union member states in terms of determinants of shadow economy, including happiness. Our findings consist in the fact that happier people are more likely to act honestly, thus causing a decrease in the size of shadow economy and this result is valid both for old and new European Union countries. In addition, we found that the quality of public governance and the richness of a country are associated with a lower propensity towards shadow economy for all the member states. However, the relationship between public governance and shadow economy are never sig-nificant when the happiness and richness variables vary simultaneously. Our research reveals that the shadow economy in European Union countries is explained in percent of about 62% by richness and happiness of the people. Contrary to our expectations, the fiscal pressure seems not to be a determinant for shadow economy in the European Union space. First published online 4 December 2016

Intro -- Vorwort -- Inhaltsverzeichnis -- I. Referate zum Tagungsthema -- Willem Molle: The Regional Economic Structure of the European Union: An Analysis of Long-term Developments -- A. Introduction, summary and conclusions -- B. Simple indicators -- I. Employment growth by branch for the whole of the EU -- II. Regional distribution of branch activity -- III. Branch structure of regional economies -- C. Composite indicators -- I. Convergence or divergence? -- II. Regional patterns -- III. Branch patterns -- D. Ways of improvement -- Acknowledgements -- References -- Annexes -- Annex 1: The data base -- Annex 2: The definition of peripherality -- Anthony J. Venables: Economic Integration and Centre-Periphery Inequalities: The View from Trade Theory -- Abstract -- A. Introduction -- B. The location of firms -- C. Agglomeration forces -- D. Integration and industrial agglomeration -- E. Integration, agglomeration and wages -- F. Concluding comments -- References -- Konrad Stahl: Divergenz und Konvergenz der regionalen Wirtschaftsentwicklung aus der Sicht der Raumwirtschaftstheorie -- A. Einleitung -- B. Zur Abgrenzug von Raumwirtschafts- und Außenhandelstheorie -- C. Agglomerationsbildende (und -hemmende) Faktoren -- I. Güterauswahl: Besserer "Mix" -- besserer "Match -- II. Informationsflüsse: Intensivere Wissens-Spillovers -- bessere Marktinformation -- III. Bessere Ausnutzung von Skaleneffekten -- IV. Bessere Risikostreuung -- D. Schlußfolgerungen -- E. Abschließende Bemerkungen -- Literatur -- Manfred Perlitz: Standortentscheidungen von Unternehmen aus betriebswirtschaftlicher Sicht -- Zusammenfassung -- A. Der Standort Deutschland als Gegenstand der politischen, unternehmerischen und gewerkschaftlichen Diskussion -- B. Bedeutung der internationalen Wettbewerbsfähigkeit für Unternehmensstrategien -- I. Unternehmensstrategien.

A series of banking scandals in multiple European Union countries including Cyprus, Denmark, Estonia, Latvia, Malta, the Netherlands and the United Kingdom has underlined the shortcomings of the European Union's anti-money laundering (AML) regime. Many of these cases have involved staggering sums, with billions of dollars laundered through accounts at one bank. The impact of the EU's AML shortcomings has been further underlined by changing geopolitics and by the new reality of European banking union. The EU legal framework combines a strong, enforceable single market with national AML supervision of banks and other financial and non-financial firms in which the mechanisms to ensure EU-wide supervisory consistency are insufficient. This combination fosters a vicious circle of erosion of supervisory effectiveness in those member states where money launderers tend to concentrate their activity, which undermines the integrity of the entire European system. The imperative of establishing sound supervisory incentives to fight illicit finance effectively demands a stronger EU-level role in AML supervision. We recommend a unitary architecture centred on a new European AML Authority that would work on the basis of deep relationships with national authorities such as financial intelligence units and law enforcement agencies. The new authority should have high standards of governance and independence, publish all its decisions and be empowered to impose sufficiently large fines to deter malpractice. It would also act as a catalyst for further EU harmonisation of the AML legal regime.

Does the framing of crises shape public support for inter-state solidarity? We focus on three dimensions that have been salient in the characterisation of European Union crises and may affect public support for solidarity more generally: (a) how country-specific or common a crisis is; (b) whether policymakers are seen as responsible for the crisis or not; and (c) how existential or manageable the threat posed by a crisis appears. We employ a pre-registered factorial vignette experiment conducted in 15 European Union countries to assess how characterising a hypothetical crisis affects voter support for fiscal and financial solidarity. Our results show that exposure to different crises frames shapes public support for risk-sharing in the European Union. Changes in solidaristic attitudes vary significantly with the means of fiscal risk-sharing proposed.