Suchergebnisse

This paper examines the impact of European Integration in the context of globalization on correlations between stock market returns. Furthermore, it looks at the impact of globalization in periods of crisis on stock market correlations of developed nations of Europe, US and Japan. The methodology used is a simple calculation framework based on the correlation coefficient. The results show that stock market integration in Europe has increased substantially in recent years though it is not yet complete. Moreover, stock markets correlation between Europe,Japan and the US is stronger than ever and is likely to continue to grow. This is more noticeable for the NIKKEI index which recently is very clearly affected by the movement in other major markets. Equity portfolios on developed countries cannot be constructed on the basis of a country allocation strategy anymore. ; peer-reviewed

Cover -- Half Title -- Title -- Copyright -- Contents -- Acknowledgements -- 1 The European Union: Evolution, Institutional and Legislative Structure and Enlargement -- Introduction -- Historical Background: A Path of Increasing Economic Links -- EU Institutions and Organizational Structure of theEuropean Union -- EU Legislation and Law-making Process -- The Challenge of the Enlargement -- 2 Trade Flows and Economic Integration -- Introduction -- Equilibrium Under Free Trade and the Effects of Tariffs -- Customs Unions or Universally Free Trade? -- Static Reallocative Effects of Customs Unions -- Terms-of-Trade Effects of Customs Unions -- Dynamic Effects of Customs Unions -- Summary and Conclusions -- 3 Factor- and Product-Market Integration and Europe's Single Market -- Introduction -- Effects of Factor-Market Integration -- Non-Tariff Barriers to Trade -- Europe's Single Market and the 1992 Internal Market Programme -- Strengthening the European Internal Market: Recent Developments and Performance -- Summary and Conclusions -- 4 Macroeconomic Interdependence, Cooperation and Currency Unions -- Introduction -- Optimum Currency Areas and Similarity of Structures and Shocks -- Phillips-Curve Theory and the Effects of Monetary Integration -- The Game-Theoretic Approach to Monetary Integration: Macroeconomic and Strategic Interdependence, Nashand Cooperative Outcomes -- Seigniorage -- Summary and Conclusions -- 5 Performance of the EMS, the ERM-II and the New EU Member States -- Introduction -- Early Attempts at Monetary-Policy Cooperation in Europeand the EMS -- Growth, Employment and Inflation in the EMS Years -- The Game-Theoretic Approach to the EMS: Impact on Inflation Outcomes -- The Crisis in the Currency Markets of 1990-92 -- ERM-II and the New EU Member States -- Summary and Conclusions -- 6 EMU: Benefits, Costs and Real Convergence.

The enlargement of the European Union generates socio-economic costs and benefits for the citizens of new members and as such it is bound to affect their perceived legitimacy of the whole enterprise. The legitimacy of EU accession is likely to be enhanced by the inclusion of compensatory transfers and transition periods in the terms of accession, by the perception that EU membership represents the most favorable terms of exchange available and by the linking of accession to a sustained period of economic growth, a favorable movement in prices, improving relative incomes and the consolidation of a level playing field across new members

Thoroughly revised and updated, the second edition of this highly acclaimed textbook will be required reading for graduate and undergraduate students on a wide range of courses including: European economics, economic policy, European integration, European studies and international relations. Exploring the EU at an important turning point and during uncertain and turbulent times, the text will also prove an invaluable reference tool for academics and policy makers concerned with any facet of European integration

The European Union (EU) is a political and economic union of democratic European countries. One of his goals was and is to equalize living conditions in all countries. Unfortunately, it is not. Today, still, there are clear disparities both economic and social. It is worth a closer look, how does the situation in the UE at the national level. The aim of this study is to analyze the most current size selected macroeconomic and social at the EU member states to show that, despite the common policy of these countries are different.

Despite recent economic problems, modern Ireland has achieved a lot. Today it is a developed country, a member of the European Union. But the path to success was not always a straight line. In addition, the impact of the EU membership on the situation in the country has not been all positive as Ireland is a small country with an open economy. The paper provides a general overview of Ireland's economic and political potential on the global scale; shows examples of the ups and downs of the Irish economy with reference to the historical facts; gives tips for getting out of difficult economic troughs.

This collection of essays is a state-of-the-art analysis of key issues confronting the European Union. Identifying European economic integration as one of the defining features of modern international economics, the authors examine many aspects and consequences of this integration which remain as yet obscure and unexplored. In this book, after addressing general issues concerned with European integration, the authors include empirical and theoretical analyses of the monetary union, social policy reform and social union, public finance in the EU, the EU's agriculture and technology policies, and direct foreign investment into the EU. In particular, the volume includes detailed discussion of Greek membership of the EU, supplying a context in which many of the general issues of industrial adjustment, investment and politics can be examined. Using a wide range of topics, methodologies and perspectives, Economic Integration and Public Policy in the European Union offers a stimulating and wide-ranging presentation which will be of interest to economic theorists, empirical social scientists, policymakers and the informed general reader

Past and future consequences and the eventual Scandinavian role within the planned European Economic Area.

In this paper we intend toanalyze the hegemonic position of Germany within the European Union, examining, from a historical perspective, the process of economic integration of the continent, highlighting the haggling process amongits Member States and the emergenceofpower relationsamongthose. Primordially, the economic relations among the States and the circumstances that led European States to pursue the international cooperation, in order to build an international regime, will be analyzed, considering whether such an asymmetrical arrangement.In view of this, the present work has beenorganized into three sections and a conclusionwhere westate our opinion on the subject and point outsuggestions and referrals on the theme. Recebido em: agosto/2019. Aprovado em: agosto/2020.