Suchergebnisse

Cohesion policy was first instituted in 1988 to create economic convergence between the regions of the European Community so to provide them the capacity to equally compete in the Single Market. Since then, the policy has been reformed four times, and it is now conceptualized by the European Commission as the investment arm of the European Union. Many scholars have argued that the successive reforms have layered policy instruments upon policy instruments and that this has created living contradictions within cohesion policy. With this research, I aim at explaining how cohesion policy has evolved in the long-term. I will reconstruct the way in which cohesion policy changed in terms of eligibility rules, use of political conditionality, and its redistributive capacity. By using fuzzy set analysis, I will create a model that will allow me to measure the change both in kind and in degree in the period 1988-2013. In this way, I will be able to determine when and how policy change occurred. In the second part of the research, I will analyze the speeches made by the European Commission's key actors during three crucial reform processes (1988, 1993, 2013). I will focus on four distinct discourses that, according to the ideational literature on cohesion policy, may have a substantial role in driving the reform's debate. I will perform a frame analysis on an exhaustive set of speeches made by the President of the European Commission and the European Commissioner for Regional Policy in the 3 years period antecedent to the legislative process. The frame analysis will allow me to create saliency measures based on a coding scheme created for the analysis. I will then establish, through congruence testing, a) if the key actors' preferences are consistent with the policy change occurred in 1988, 1993 and 2013 b) how they conceive the reform process in relation to other policies of the European Union, Economic and Monetary Union in particular. In this way, I will be able to produce an original contribution both in the literature about cohesion policy and in the wider literature on European Integration.

The place and role of the EU horizontal policies in the framework of the EU common policies are explored. The theoretical and methodological basis of their formation and realization are revealed. Their importance for the proper functioning of the European Union and the realization of the main tasks of the EU at the present stage are analyzed. Cooperation between the EU and Ukraine in these areas is described in the context of the implementation of the Association Agreement.The EU's horizontal policies address five broad areas of economic and socio-political activity, including regional development, social progress, taxation, competition and environmental protection. All these common policies have already been involved in the stages of the customs union and the common market and must be constantly evolving in order to pursue further and higher goals – at the stages of economic and monetary union and political integration.Cooperation between Ukraine and the EU in the field of horizontal policies is carried out in the context of the implementation of the Association Agreement between Ukraine and the EU and is presented in SECTION IV «TRADE AND TRADE-RELATED MATTERS» (in particular, in Part 2 «State Aid» and Chapter 10 «Competition», in part 1, «Antitrust and mergers» (Articles 253–261), as well as in Chapter V «ECONOMIC AND SECTORAL COOPERATION» (in particular, in chapter 4 «Taxation» (Articles 349–354), in chapter 6 «Environment» (Articles 360–366) and in Chapter 21 «Cooperation on employment, social policy and equal opportunities» (Articles 419–425).Key words: common policies of the EU; horizontal policies of the EU; regional policy; social policy; tax policy; competition policy; environmental protection policy; Association Agreement between the EU and Ukraine. ; Досліджено місце та роль горизонтальних політик ЄС у системі спільних політик ЄС. З'ясовано теоретико-методологічні основи їх формування та реалізації. Проаналізовано їх значення для належного функціонування Європейського Союзу та реалізації основних завдань ЄС на сучасному етапі. У контексті реалізації Угоди про асоціацію охарактеризовано співпрацю між ЄС та Україною в цих сферах.Ключові слова: спільні політики ЄС; горизонтальні політики ЄС; регіональна політика; соціальна політика; податкова політика; політика конкуренції; політика охорони навколишнього середовища; Угода про асоціацію між Україною та ЄС.

After the financial crisis economies with existing deficits usually are in danger to go to default due to uncontrolled borrowing paces. All the members of the European monetary union have violated treaty limits on allowable budget deficits – some of the members have four times larger deficit. Such a development clearly suggests that some countries in European Union might become insolvent, since their net external debt is really large measure to the size of their economies. After financial crisis economies back to the recovery after a period of 3 or 4 years. Therefore economies are shrinking or growing rate is very slight. Due to these processes it is really big challenge to bring these deficits back to satisfactory level. Governments then have to go to the market and ask for additional debt to cover its deficit. These countries, if not aided, will possibly default and will be forced to restructure their debt. This argument is the reason why European Commission and prime ministers of European Union make a lot of play on discussions about present and future sovereign debt issues, not only regarding the certain countries, but the entire EU. The Italian finance minister Giulio Tremonti and Luxembourg's Prime Minister Jean-Claude Juncker, in an article which appeared in the Financial Times on 5 December, launched the proposal to issue the "European bonds". In this paper authors follow this idea and appeal to obvious arguments showing, that "European bonds" would be great cooperation to control Euro zone debt. Also authors consider "European bonds" as a tool to solve EU debt crisis and ensure future financial stability of all EU countries. The "European bonds" idea is not new. The first one goes back to Jacques Delors in the 1980s. Jacques Delors proposed the issue similar bonds in addition to European Investment Bank loans to finance infrastructure investments, so the initial idea was intended to provide a new debt instrument for financing pan-European infrastructures, but recently "European bonds" idea became the ...

This paper considers whether the influence of national output & inflation rates on ECB interest rate setting should reflect a country's weight in the eurozone economy. The findings depend on interest rate & exchange rate elasticities & openness vis-a-vis non-eurozone countries. The major conclusion is that the ECB should respond less to inflation shocks in EMU countries that have extensive trading ties with non-eurozone countries. These countries can take care of some of the monetary tightening themselves, through a real appreciation vis-a-vis their non-eurozone trading partners. Tables, Figures, References. [Copyright 2006 Elsevier B.V.]

The thesis studies and highlights the misalignments (deviation of real exchange rate in comparison with its equilibrium value) of the exchange rate for a certain number of countries of the two CFA zone, that is to say, Côte d'Ivoire and Mali for UEMOA, Chad, Central Africa Republic and Cameroon for CEMAC. In fact, we want to know if monetary unions organisation at fixed change with Euro, with their monetary rules and the convergence fiscal rules adopted do not lead to a structural and chronic over valuation of the real exchange rate of the countries, which should be prejudicial to their growth or more generally, to their development this in spite of credibility gains obtained in inflation and the advantages in terms of country risk which gives strict rules, but constant and clear during a period. The equilibrium long term real exchange rate is appreciated in the thesis in function of the terms of trade, of the current balance, of the tradable and non tradable goods, of the internal demand, rights and taxes on importations and exportations, of the degree of opening and the government expenditures. We reach to the conclusion that the real exchange rate have been in general over evaluated (on average from 1965-2003) though in different way according to countries, what justifies afterwards token the 1994 devaluation, the misalignments being not more quickly reduced in the '' small countries'' than in the '' biggest''. A development into four parts is suggested: the first describes the economies evolution of the franc area according to the change regime (1994 devaluation, going to euro in 1999), the debt situation (crisis debt and structural adjustment policies between 1986 and 1994) external trade specialisation and the growth rate of the GDP. The recurrent problem of external gap and the growth weak rates are also brought out. The second part examines the theories of equilibrium real exchange rate and end in a very original and precise evaluation of the real exchange rates. The third part studies and debates a ...

In der Arbeit ist der Versuch unternommen worden, ein Schema, ähnlich dem, das bei der monetären Analyse der Bilanzgegenposten in Deutschland zugrunde gelegt wurde, auch für andere wichtige Länder in Europa zu entwickeln. Dies erforderte zunächst eine gewisse Harmonisierung der Datenbasis. Um das Muster im Zusammenspiel der bilanziellen Gegenposten in der europäischen Währungsunion besser zu verstehen, wurde dann untersucht, inwieweit die Struktur der konsolidierten Bilanz und die Verhältnisse, wie sie in der Vergangenheit in Deutschland zu beobachten gewesen sind, auch in diesen Ländern anzutreffen waren. Untersucht wurde auch, ob zwischen den Ländern Zusammenhänge in der Entwicklung einzelner Bilanzgegenposten existieren und welches Beziehungsmuster sich in einer ,~uropäischen" aggregierten konsolidierten Bilanz ergeben hätte. Obgleich in einzelnen Ländern teilweise verschiedene Muster des Zusammenhangs resultierten, konnten in der Untersuchungsperiode in dem "Währungsraum" ähnlich wie in der Vergangenheit in Deutschland -Beziehungsmuster festgestellt werden, die mit der Vorstellung vereinbar sind, daß geldpolitische Impulse zunächst auf der Passivseite der konsolidierten Bilanz zu Portfolioanpassungen zwischen liquiden und langfristigen Einlagen führen und erst dann auf die Aktivseite (auf die Kredite an den privaten Sektor) übergreifen. ; In this paper an altempt has been made to develop a scheme similar to the one which the Bundesbank has used in the past for the analysis of the money stock and its counterparts and to apply it to other important European countries. This required a certain harmonisation of the national data to begin with. In order to gain a first insight into the relationship between the money stock and its counterparts in an European context, the paper then looks at the structure of the consolidated balance sheet and at the kinds of relationships between the counterparts in the various countries which are compared to those in Germany. This is followed by an analysis of the relationship between the counterparts across countries and finally by an analysis of the relationship that would have resulted if the countries under investigation had been linked together in some sort of ,,European monetary union". Although certain differences emerged in the analysis of the counterparts in individual countries, the results for the area as a whole suggest, that monetary impulses would have induced portfolio adjustments on the liability side of the consolidated balance sheet by chan ging the amounts of liquid deposits and less liquid deposits of the nonbank public before having an effect on the asset side of the consolidated balance sheet (through credit to the private sector). This is comparable to the kind of relationship that used to exist in Germany .

The term "sterling area", which came into existence immediately after Great Britain's departure from gold on September 21, 1931, has become increasingly current, so that at the present time it is generally accepted in the terminology of international economics. The term sterling area, or sterling bloc, is necessarily extremely loose. In no sense are the countries contained in this group bound together in a formal monetary union. Nor can the boundaries of the area be defined precisely. As generally understood, however, the sterling area includes those countries both within and outside the British Empire whose currencies are closely linked to the British pound and whose monetary policies are governed more or less directly by those which may be followed from time to time by the British Exchequer and the Bank of England. It includes, in addition to the Dominions and colonies, Argentina, the Scandinavian countries (whose currencies were more promptly and more closely linked to sterling in the 1931 crisis than even those of the Dominions), Finland, Portugal, Egypt, Palestine, and some smaller countries.In contrast to the gold bloc, whose scope is limited strictly to currency problems, the sterling bloc is also to a certain degree an economic bloc. That is, trade within the sterling area represents a fairly large proportion of the total foreign trade of the countries included in that group. The attempt to forge closer links of currency and trade with the countries of this group has now become a well recognized principle of British foreign policy. The instruments which Great Britain has used in forging these closer links are represented by the Ottawa Agreements of 1932, by the reciprocal trade pacts with non-Empire countries, by the maintenance of stable exchange rates with these countries, by securing favourable treatment in exchange allotment, by the development of central banks in the Dominions, and by giving preferential treatment in the matter of international loans, which are, or at least may be, of vital importance in maintaining stability of exchanges in relation to sterling.

Статья посвящена изучению роли международных политических институтов в интеграционных процессах евразийского региона. Автор рассматривает Организацию Договора о коллективной безопасности, Шанхайскую организацию сотрудничества и Организацию за демократию и экономическое развитие. В статье отмечена существующая проблема дублирования функций интеграционных объединений евразийского региона. Также автор приходит к выводу о том, что опыт, накопленный государствами евразийского региона в сфере военно-политического сотрудничества, необходимо использовать при формировании отдельных структур будущего Евразийского союза. ; The article is devoted to studying the role of international political institutions in the integration processes of the Eurasian region. The author examines the Collective Security Treaty Organization, the Shanghai Cooperation Organization and the Organization for Democracy and Economic Development. The problem of duplication of integration associations of the Eurasian region is noted in the article. Also the author makes the conclusion that the experience of the Eurasian region in the sphere of military-political cooperation should be used in the process of formation of individual structures of the future Eurasian Union.

The paper deals with the monetary policy of the European Central Bank & its effects on economic development of the Czech economy & other new members of EU from the perspective of Post-Keynesian monetary economics. In the first part the basic principles of contemporary Post-Keynesian monetary theory of relative endogeneity of money are shortly presented. The second part concentrates on the Post-Keynesian criticism of the institutional arrangement of the ECB & its monetary policy. The closing part treats issues concerning potential effects of the policy of the ECB in the given institutional framework on economic development of the Czech economy & economies of other less developed members of EU after joining the Eurozone. Possible adverse effects on the process of real convergence are discussed & alternative policies eliminating this danger are presented. Adapted from the source document.

The painful process of convergence of national macroeconomic performances in order to comply with the Maastricht treaty criteria is coming to an end and the creation in time of the European single currency, probably with eleven members in the initial stage, is now taken for granted by most analysts and financial market participants. It is thus high time to think about how best to organise economic policy-making within the new euro zone. Although monetary unification will bring benefits for European consumers, there will also be costs, in particular due to increased competition within the single European monetary area. The combination of a single central bank and tax and fiscal competences retained, for the most part, by national governments necessitates an explicit coordination of fiscal policies for at least three reasons: macroeconomic stabilisation in Europe, especially in cases of asymmetric shocks; the "policy mix", i.e. the combination of monetary and fiscal policies at the European, aggregate level, and its influence on the external exchange rate of the euro; and the potential dangers of tax competition and "social dumping" , as national governments, deprived of their power over the exchange rate, may be tempted to gain a competitive advantage by other means. In the wake of monetary unification, the European Union will thus have to invent its own brand of "economic and fiscal federalism" , the recent creation of a "Council of the euro" being but one step in this direction.