Suchergebnisse

Based on the positions of taking into account geoeconomic factors and processes of international economic integration, a conceptual model of attracting foreign direct investment (FDI) in the industry of the regions of Ukraine has been developed, which target is to ensure consistency of interests between a recipient region and foreign investors in investing. Goals. The goal of the article is to substantiate theoretical provisions and develop practical recommendations for improving conceptual model of attracting foreign direct investment in the industry of Ukrainian regions. Methods. Methodological basis of the article are fundamental provisions of economics, economic theory, the theory of foreign investment, as well as scientific results of leading domestic and foreign scientists and economists on foreign investment issues. Main results. A system of principles for the implementation of such model has been proposed, which includes general and specific principles, particular sectoral orientation, adaptability, complexity, efficiency, coherence and publicity. A system of coordinated goals and measures of regional investment policy within the conceptual model has been formed, which is structured in the following areas: creation of an effective system of FDI incentives in terms of technological modernization of industry, formation of attractive investment image of regional industries taking into account best international practice and setting up intensive and effective cooperation between local governments and FDI donor countries.

Recently, some leaders in different countries have promoted positions towards immigration and formal international economic integration that contest policy recommendations resting on predominant microeconomic and international economics theories. The cases of Brexit, the new presidency in the United States of America, and election processes in countries such as Germany and France have put forward topics showing distrust or, at least, great disappointment in free markets and open economies. Inequality in income distribution and social exclusion in developing and developed countries have triggered a protectionist discourse of some political or independent leaders seeking to gain political power. All this might represent a significant challenge for higher education institutions offering courses and doing research based on the principles of mainstream economics. Considering the previous context, using panel data for the period from 1985 to 2014, this paper analyses the impact of the degree of formal integration and migration on human development in 26 countries located in three continents and that are part of international integration instruments such as the World Trade Organisation, the North American Free Trade Agreement (NAFTA) and the European Union. The analysis sheds light on what makes a difference in terms of human development and to what extent, contributing to inform the debate on the impact of countries' openness to international flows of goods, services and labour.

Topics addressed, European economic integration, as well as with important phenomenon, which is facing Kosovo in recent years, since the post-war process. The process of international economic integration is one of the most important phenomena of the contemporary world economy. The trend of international economic integration is the reconstruction of the country devastated by war, is an undeniable necessity, the only reason to catch the trend of the world's economic development. Kosovo has a very favorable position, bridging the central Balkans with the possibility of Development extraordinarily large because the Europe could have connected in short way with two continents. The main goal: increasing economic cooperation, the creation of new strategies for accelerating the process, fulfilling the standards required in the EU, the extent of market economy, regulation of relations with neighbors, etc. Topics that will discuss is European economic integration, the way how to reach to where we want is a road with many challenges and barriers, with special emphasis will be elaborated the process of stable and association, agreements signed by Kosovo, always having as target strengths and weaknesses of these agreements in the economic aspect of the country. Republic of Kosovo, respectively, institutions and people, are fully committed to the European integration process with the intent to join the EU.

In earlier efforts to explain international conflict and integration, the central focus was upon national attributes and decisionmaking as crucial to understanding the actions of states in war- and peacemaking. Recently, however, we have begun to critically reconsider these assumptions. In the face of their inability to fully account for the actions of states in international conflict and cooperation, we have sought out a more basic, disaggregated approach to these questions. We believe that the concept of leverage may serve as an important explanatory factor in theories of interstate relations. Here we offer some preliminary arguments concerning leverage and bargaining among domestic and international actors, fleshing out some of the possible relationships between economic and political behaviors and their effects on the war- and peacemaking activities of states in the international system.

The interaction between economic integration and environmental policy has become an important issue in the last few years. Despite the considerable scholarly attention this topic attracted, actual government responses in terms of environmental policy outputs remain largely untouched by both theoretical and empirical work. To fill this gap, we suggest a theory-based disaggregation of the compound variable economic integration for deriving more precise expectations on its differential impact on environmental policy arrangements. In doing so, we show that economic integration may indeed trigger the promulgation of more demanding environmental regulations. To illustrate our arguments empirically, we analyze the development of Turkish clean air policy between 1975 and 2005.

"The Pacific Trade and Development (PAFTAD) conference series has been at the forefront of analysing challenges facing the economies of East Asia and the Pacific since its first meeting in Tokyo in January 1968. The 38th PAFTAD conference met at a key time to consider international economic integration. Earlier in the year, the people of the United Kingdom voted to leave the European Union and the United States elected Donald Trump as their next president on the back of an inward-looking 'America First' promise. Brexit and President Trump represent a growing, and worrying, trend towards protectionism in the North Atlantic countries that have led the process of globalisation since the end of the Second World War. The chapters in the volume describe the state of play in Asian economic integration but, more importantly, look forward to the region's future, and the role it might play in defending the global system that has underwritten its historic rise. Asia has the potential to stand as a bulwark against the dual threats of North Atlantic protectionism and slowing trade growth, but collective leadership will be needed regionally and difficult domestic reforms will be required in each country."

The French and Dutch refusal to ratify the European Constitution in 2005 and the collapse of many East German businesses post-reunification; are just some examples of the hurdles integrating nations face. Integration of nations affects many economic factors such as public good allocation, trade, production, labour, consumption and even macro-economic policy instruments. Therefore, it is important to understand what motivates integration. Few scholars have broached the subject of the integration of nations (see Goyal and Staal (2004)), where size asymmetry and historical dependence are considered. Starting with Alesina and Spolaore (2003)'s Size of Nations symmetric framework, we attempt to do this with a two nation (asymmetric in size) location model. The key findings are that size differentials and the constitutional design (the identity of the decision maker) matters. In this thesis, we consider the social planner (government) and voters. The social planner maximizes social welfare for his own nation. Voting outcomes become non-trivial as it depends on the number of alternatives and the voting system. We categorize integration into two main forms. Full Integration is when the two nations fully integrate to form a new one, only one capital remains. Federated Integration is where the nations integrate but retain some form of sovereignty; this is represented by the retention of both capitals. Size difference matters when two nations chose to integrate. As the size difference between the two nations increase it becomes harder for integration to occur; nations would integrate if there is no size difference. The identity of the decision maker will affect the threshold on size.

This report reviews the status of Mashreq countries' economic integration with the world, with the Arab world, and within the Mashreq sub-region itself. It examines the drivers of progress to date and barriers to further integration. It focuses on Mashreq countries' participation in integration agreements; integration through trade, labor, and capital flows; and physical infrastructure. The main findings are that Mashreq countries trade more with the European Union (EU) than with other countries in Middle East and North Africa (MENA) or among themselves, but account for a significant share of MENA's trade in services. With the exception of Iraq, a major oil exporter, the Mashreq countries export a relatively large share of manufactured goods-surpassed only by Tunisia and Morocco. Mashreq exports are relatively less concentrated than other MENA countries, with the exception of Tunisia and Morocco. Regional economic integration would be enhanced through better trade facilitation procedures and by better transport infrastructure. Policies relating to further improving the investment climate and private sector development also matter.

This paper studies some interesting implications of economic integration in the context of a neoclassical model of international trade, optimal public investment, and capital mobility. Due the endogeneity of the productive public capital stock, international capital mobility, while equalizing returns to capital, can lead to a divergence in the wages earned by labor. We also demonstrate that international capital mobility can set off an "infrastructure" investment boom. If the benefits of public capital spill over across national borders, governments in the Nash equilibrium spend the "1992" dividend on an excessive provision of public services, attempting to free ride on the public capital of their neighbors.

Defence date: 18 May 2020 (Online) ; Examining Board: Professor Ramon Marimon (EUI, Supervisor); Professor Russel Cooper (EUI); Professor Kjetil Storesletten (University of Oslo); Professor Iván Werning (MIT) ; This thesis investigates consumption insurance within economic unions from both a country and household perspective. Chapter 1 deals with the question of how an economic union like the Euro Area can support enough risk sharing, through transfer payments, to prevent the breakup of the union. I model the union as a dynamic contract between two countries. The contract captures two political restrictions which are especially relevant for the Euro Area. First, risk sharing must avoid `permanent' transfers (including repayments of debt) between countries. Second, there is a requirement that countries implement policies to improve economic performance, which is subject to moral hazard. Relative to the previous literature, the specification of the reform process makes the moral hazard component of the model more powerful by allowing reform effort to have a permanent effect. I then characterize the optimal transfer system, which trades off risk sharing against reform incentives. I propose an implementation of this transfer system using trading of one-period bonds with state-contingent debt restructuring. Chapter 2, which is co-authored with Johannes Fleck, deals with household earnings risk in the United States. We observe that due to differences in economic conditions across American states, and the autonomy which state governments have in implementing means tested policies, identical households may receive very different levels of earnings insurance from the government simply because they live in different states. We quantify this variation in public insurance by simulating the response of the main state and federal tax and benefit policies to earnings shocks for a prototype household, adjusting any nominal dollar amounts for purchasing power using our own measure of state living costs. We confirm that there is significant regional variation in household earnings insurance, with a large contribution coming from the design of the federal Earned Income Tax Credit. Chapter 3, which is joint work with Ramon Marimon and Alessandro Ferrari, returns somewhat to the theme of Chapter 1. We address a gap in the theoretical literature on optimal transfers in currency unions, which fails to account properly for the participation constraints imposed by each country's option to exit the union. We model a currency union as a dynamic contract between countries facing endowment risk and a nominal rigidity in the production of non-tradeable goods. The contract is constrained by each country's outside option of reclaiming its own monetary policy, which optimally eliminates the labour market distortion caused by the nominal rigidity, and defaulting on any payment obligations accumulated within the union. We find that there is still some scope for considerable risk sharing in the union, although the presence of the nominal rigidity introduces consumption risk into the stochastic steady state of the currency union. ; -- 1. Risk sharing and policy convergence in economic unions -- 2. Public insurance in heterogeneous fiscal federations - evidence from American households -- 3. Fiscal and currency union with default and exit

This report reviews the status of Maghreb countries' economic integration with the world, with the Arab world, and within the Maghreb itself. It focuses on trade in goods and services, labor and capital flows, financial integration and cross-border infrastructure integration. It discusses the potential benefits of and key constraints to greater integration. The focus on trade liberalization with the European Union (EU) provides an opportunity for individual Maghreb countries to lock in policies that would eventually help them harmonize policies within their own region. The same argument can be made regarding accession to the World Trade Organization (WTO). The Maghreb countries would reap significant additional benefits if, in parallel to reforms undertaken to improve trade liberalization with Europe, they improved conditions for streamlined trade among themselves. There is significant potential for trade in services in the financial sector, transportation and logistics, and communications and information, among other sectors. According to some studies, comprehensive services reforms that involve increased competition and regulatory streamlining would yield benefits that are at least twice the magnitude of those achieved through tariff removal alone.

The three essays of this dissertation contribute to the measurement of European economic integration and investigate the welfare effects of the European countries. The first study presents a newly developed index – the EU Index – which measures the extent of economic integration into the European Union for the EU-15 member states over the period 1999–2010. The principal component analysis assigns accurate weights to the 25 indicators used in the index. Large heterogeneities are found between the member states with respect to overall integration and to various sub-indices. By using cluster analysis, it is also shown that the prevailing economic heterogeneities have produced a 'core group' of countries and a 'multi-speed Europe', which challenges the present and future steps of European integration. The second study uses the EU Index for an empirical assessment and analyzes whether European citizens have become more or less satisfied with life due to increased economic integration. With more than 180,000 observations, ordered logit estimations as well as a two-stage OLS procedure reveal significant positive impacts on reported well-being. Especially increased economic activity in the EU single market and increased economic homogeneity among the member states show the largest marginal effects. The 'love-of-variety' approach and the existence of a high inequality aversion among the European citizens are some possible explanations, which imply that the EU should take further action in that regard. The effect of the size of a country on economic growth is investigated in the third study. By analyzing panel data of the EU-27 countries over the period 1993–2012, the first regressions suggest that the size effect seems negligible and that mostly the standard neoclassical growth variables are important in determining economic growth. However, size does matter when the old and new member states are explored separately, though, the effect of country size decreases as market integration increases. Particularly in the light of the large and increasing number of small member states, further completion of the EU single market should stay at the forefront of the future European integration process.

This paper examines whether economic integration favors countries' convergence into a common cone of diversification. We analyze the manufacturing specialization patterns for a sample of 19 current and potential European Union countries over the period 1963-1998, and assess the impact of integration on their evolution. We perform year-by-year threshold estimations of Rybczynski relationships to identify the diversification cones and then estimate discrete choice models to investigate whether membership in the European Union is associated with a higher probability of being in a same cone. Economic integration in Europe is found to have promoted convergence from lower to higher diversification cones.

The last two decades of the XX century have been marked by a vigorous acceleration of international economic integration both at a global and regional level. States accepted pervasive constraints on their national decision-making in the hope that stability and predictability would favor economic growth. This model of international economic integration, however, has recently shown worrying signs of 'disintegration'. Disintegration manifests itself both as disintegration of the international legal regimes which compose the international economic order; and disintegration through law, namely the social, economic and environmental disintegration phenomena, triggered or at least facilitated by these regimes. Relying on the paradox integration/disintegration as an analytical framework, this article draws a blueprint of the various disintegration phenomena, which are further analyzed in the individual contributions to this Special Issue. It seeks to identify a relationship between the two dimensions of disintegration and detect possible correlation patterns. Last, after engaging with the different normative alternatives put forward by the contributors, it concludes by calling for a rethinking of the traditional approach to international economic integration. This reconceptualization should be premised on the full realization that the current model entails a great deal of environmental and social 'hidden costs'.

The UN Charter and the Vienna Convention on the Law of Treaties require interpreting treaties and settling international disputes "in conformity with the principles of justice and international law." This contribution discusses procedural and substantive principles of justice which the international judge may take into account in interpreting international economic agreements. The "sovereign equality of states" underlying the "international law of coexistence" as well as the "international law of intergovernmental cooperation" must be interpreted in conformity with the universal recognition of human dignity as a source of inalienable human rights. The universal recognition of economic and social human rights further requires taking into account solidarity principles, as proposed also by the sociological approach to international law. The constitutional structures and citizen-oriented functions of the law of international economic organizations liberalizing and regulating mutually beneficial market transactions among citizens require judges to engage in a careful balancing of state-centered and citizen-oriented principles of international law, including respect for the emerging human right to democratic decision-making. This modern "international integration law" and the increasing number of "international constitutional rules" promote the reconciliation of the various state-centered approaches, human rights approaches, sociological approaches and policy-approaches to international law as a system not only of international rules and "legal pluralism" but also of constitutionally limited decision-making processes and struggles for human rights.