Suchergebnisse

The role of particular groups of individuals outside the formal government system in the economies of the Asia-Pacific region was important both in advocating regional cooperation and in participating in the policy process. After a brief history of these aspects of the development of regional economic cooperation and of the major regional economic institutions, the paper discusses the motivations of those advocating regional cooperation, the values held in common across the participants etc. (DÜI-Sen)

The economic and financial crisis 2007/08 revealed profound weaknesses of the economic and financial governance framework of the European Union (EU), amongst them the insufficient coordination of EU policies in the field of economic policy. In 2011, EU member states created the European Semester which aimed at better coordinating member states' economic and fiscal policies. Focussing on French value-added tax (VAT) and environmental taxation policy between June 2011 and February 2015, I analyse under which conditions the European Semester process leads to changes in national taxation policies. I develop a theoretical framework that draws on rationalist Europeanization theory to argue that usage of European Semester impulses by domestic pro-reform actors is the central mediating variable to explain whether European Semester impulses lead to changes in national policies. The analysis reveals that despite similar European Semester impulses the degree of subsequent changes in French taxation policies varied significantly. Whereas environmental taxation policy was transformed substantially, VAT policy was only slightly modified. The different strength of domestic usage by French pro-reform actors provides an explanation for this variance: While in environmental taxation policy, a group of pro-reform actors actively used the European Semester impulses to push for substantial reforms, pro-reform actors did not make use of the European Semester impulses in the field of VAT policy.

The economic and financial crisis 2007/08 revealed profound weaknesses of the economic and financial governance framework of the European Union (EU), amongst them the insufficient coordination of EU policies in the field of economic policy. In 2011, EU member states created the European Semester which aimed at better coordinating member states' economic and fiscal policies. Focussing on French value-added tax (VAT) and environmental taxation policy between June 2011 and February 2015, I analyse under which conditions the European Semester process leads to changes in national taxation policies. I develop a theoretical framework that draws on rationalist Europeanization theory to argue that usage of European Semester impulses by domestic pro- reform actors is the central mediating variable to explain whether European Semester impulses lead to changes in national policies. The analysis reveals that despite similar European Semester impulses the degree of subsequent changes in French taxation policies varied significantly. Whereas environmental taxation policy was transformed substantially, VAT policy was only slightly modified. The different strength of domestic usage by French pro-reform actors provides an explanation for this variance: While in environmental taxation policy, a group of pro-reform actors actively used the European Semester impulses to push for substantial reforms, pro-reform actors did not make use of the European Semester impulses in the field of VAT policy.

The economic and financial crisis 2007/08 revealed profound weaknesses of the economic and financial governance framework of the European Union (EU), amongst them the insufficient coordination of EU policies in the field of economic policy. In 2011, EU member states created the European Semester which aimed at better coordinating member states' economic and fiscal policies. Focussing on French value-added tax (VAT) and environmental taxation policy between June 2011 and February 2015, I analyse under which conditions the European Semester process leads to changes in national taxation policies. I develop a theoretical framework that draws on rationalist Europeanization theory to argue that usage of European Semester impulses by domestic pro-reform actors is the central mediating variable to explain whether European Semester impulses lead to changes in national policies. The analysis reveals that despite similar European Semester impulses the degree of subsequent changes in French taxation policies varied significantly. Whereas environmental taxation policy was transformed substantially, VAT policy was only slightly modified. The different strength of domestic usage by French pro-reform actors provides an explanation for this variance: While in environmental taxation policy, a group of pro-reform actors actively used the European Semester impulses to push for substantial reforms, pro-reform actors did not make use of the European Semester impulses in the field of VAT policy.

Abstract

Research background
Understanding the rationale for macroeconomic policy coordination with the aim of achieving greater policy credibility and effectiveness in West Africa still remains the subject of debate.


Purpose
This study evaluates the effect of macroeconomic policy coordination on economic growth uncertainty in West Africa, utilizing a panel data set of the 15 member states from 1980 to 2020.


Research methodology
The study employed Pedroni's cointegration test procedure and the Generalized Linear Model, fixed effect procedure for evaluation.


Results
The stationarity test results show that the variables are stationary at first difference at the 5% significant level, for the common and individual effect tests respectively. The cross section dependence test result indicates that there exists a cross-sectional independence for the variables under consideration. Pedroni's cointegration test results indicate that there exists a long run relationship between economic growth uncertainty and macroeconomic policy variables. The fixed effect model result shows that monetary policy variable, inflation (INF) affect growth uncertainty negatively. The fiscal policy variable, government debts (DEBTS) indicates a positive sign to growth uncertainty and is significant statistically. The coefficient of the regional trade variable, (TRADE) and exchange rate indicate positive signs and are insignificant statistically.


Novelty
It is important to ascertain how uncertainty affect policy coordination gains. Thus this study has utilized the econometric models approach to evaluate the effect of policy decisions as economies encounter exogenous policy shocks in the face of uncertainty, in order to ascertain if coordination is preferred to individual policy decisions.

AbstractThe Next Generation EU (NGEU) and the Recovery and Resilience Facility (RRF) encompassed the European Semester. To understand how and why this happened we apply different theoretical approaches so as to emphasize different aspects of this process. The contributions in this collection discuss three main questions: (1) Is the Semester successfully implemented in the domestic arena? (2) Do domestic institutions and stakeholders play a crucial role in the success (or lack thereof) of the Semester? (3) What lessons can we learn from past economic policy coordination for the challenges ahead? In answering these questions, one's lens needs to be focused at both the EU and the domestic levels. Various factors play a role: solidarity, mutual understanding, relations between the 'South' and the 'North', questions about democracy, the rule of law, the interaction between economic and social issues, and even the need to address the climate crisis (the Green Deal).

The most notable and best publicised achievements of the European Economic Community (EEC) have been in liberalising trade between its member countries. But apart from setting up the 'common market' from which it derives its popular name, the Treaty of Rome gave the Community the duty 'to promote …. an harmonious development of economic activities, a continuous and balanced expansion, an increase in stability, an accelerated raising of the standard of living and closer relations between the Member States belonging to it'. In addition to the elimination of barriers to the passage of goods between members and the establishment of a common agricultural policy and a common basis of trade with the outside world, the Treaty provided specifically for freedom of movement for persons, services and capital, a common transport policy, a system ensuring that competition should not be distorted, procedures for coordinating economic policies and remedying balance of payments disequilibria, the approximation of laws to the extent required for proper functioning of the common market, and a European Social Fund and European Investment Bank.