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While the Commission has stood its ground against political pressure to relax enforcement for the purpose of grooming European champions, that does not mean only economic welfare arguments have been accepted under competition law. Rather, over the years a pattern has emerged whereby, in the absence of satisfactory single market regulation, the Commission has occasionally resorted to competition law in order to secure single market objectives. This has allowed for the development of an unexpected close interaction between competition law and single market regulation occasionally taking

In recent decades, theorists and practitioners in various fields of science (economics, social sciences, environmental sciences, political science, management and other sciences) have focused on the objectives of state regulation, distinguishing different approaches in interpretation of the essence and features of objectives of state regulation. First of all, in order to reveal the development of the formation of state regulation, its essence and preconditions, the development of concepts of state's emergence is being analyzed. The theoretical definition of objectives of state regulation includes retrospective of the concept of state regulation, concept of state's emergence, development of the provisions of contemporary economic theories, examining all these parameters separately and linking them into a single whole.

In recent decades, theorists and practitioners in various fields of science (economics, social sciences, environmental sciences, political science, management and other sciences) have focused on the objectives of state regulation, distinguishing different approaches in interpretation of the essence and features of objectives of state regulation. First of all, in order to reveal the development of the formation of state regulation, its essence and preconditions, the development of concepts of state's emergence is being analyzed. The theoretical definition of objectives of state regulation includes retrospective of the concept of state regulation, concept of state's emergence, development of the provisions of contemporary economic theories, examining all these parameters separately and linking them into a single whole.

In recent decades, theorists and practitioners in various fields of science (economics, social sciences, environmental sciences, political science, management and other sciences) have focused on the objectives of state regulation, distinguishing different approaches in interpretation of the essence and features of objectives of state regulation. First of all, in order to reveal the development of the formation of state regulation, its essence and preconditions, the development of concepts of state's emergence is being analyzed. The theoretical definition of objectives of state regulation includes retrospective of the concept of state regulation, concept of state's emergence, development of the provisions of contemporary economic theories, examining all these parameters separately and linking them into a single whole.

A bank liquidation policy problem is analysed within a Merton framework where an appropriate notion of capital adequacy is introduced. The value of the deposit insurance liabilities and bank equity are derived. The effects of capital requirements on risk-shifting and bank reorganization are discussed, with a comparison of different regulatory regimes (in keeping with the Basel I and II Accords) and their impact on banks' behaviour.

Despite the positive effect electricity grids separated from generation and supply by ownership are expected to have on the level of competition in the non-network activities, several EU member states still adhere to a solely legally unbundled transmission grid. This choice might be induced by regulators focusing on objectives other than the promotion of consumer interests: theoretically analyzing the decisions an authority takes on both the unbundling regime and the grid charge when it supervises a network monopolist providing a downstream Cournot duopoly with capacity, we find an agency pursuing consumer-oriented goals to always implement Ownership Unbundling. For a regulator acting in the interests of the industry or the government, though, results suggest the authority to be indifferent between Legal and Ownership Unbundling; minor potential drawbacks of a network separated by ownership for the agency or the companies might then tip the scales and cause the regulator to adhere to Legal Unbundling.

AbstractThis article addresses the issue of renewing a sense of vocation in finance. Drawing on experiences in the UK, Australia, and Ireland, three common law jurisdictions at various phases of developing "an ethical esprit de corps" to professionalize the banking industry, it argues that adopting some aspects of a profession, a "trajectory towards professionalization" of the banking industry, could serve, at least to some extent, to improve the industry‐wide norms that influence firms' cultures and individual behaviors. It contends that professionalization could help to develop bankers with a professional, pro‐social identity, in which there is a recognition of broader obligations to society, that exists independently of the profit‐driven nature of banking and the hierarchy of their own firms. This analysis is informed by an integration of regulatory theory, which casts doubt on the utility of sanctions except as a last resort, behavioral science, which offers insights into how ethics and culture, not just law and markets, can constrain irresponsible behavior in the financial services sector, and criminological theory, which emphasizes that particular types of controls, including individual attachments to groups, build "stakes in conformity" which encourage law abiding and responsible behaviors.

Abstract
This paper analyses how different types of technical barriers to trade (TBTs) imposed on imports of information and communications technology (ICT) goods globally affected the value and volume of imported goods during the period of 1996–2018. Key words cited in the TBTs give an indication of the aims behind the imposition of TBTs. The results indicate that TBTs have a strong positive impact on the value of imports. While many key words cited in TBTs notified to the World Trade Organization (WTO) affect the value and volume of imports in a positive way, certain other TBTs function as trade barriers.