Search results for " liberalization"
showing 10 items of 20 documents
The Impact of Trade Liberalisation on Water Use: A Computable General Equilibrium Analysis
2008
Water is scarce in many countries. One instrument to improve the allocation of a scarce resource is (efficient) pricing or taxation. However, water is implicitly traded on international markets, particularly through food and textiles, so that impacts of water taxes cannot be studied in isolation, but require an analysis of international trade implications. We include water as a production factor in a multi-region, multi-sector computable general equilibrium model (GTAP), to assess a series of water tax policies. We find that water taxes reduce water use, and lead to shifts in production, consumption, and international trade patterns. Countries that do not levy water taxes are nonetheless af…
Autorizzazioni amministrative e liberalizzazione dei mercati tra diritto europeo e diritto interno
2018
Il libro ripercorre le trasformazioni della disciplina nazionale delle autorizzazioni amministrative per l'influenza del diritto dell'Unione europea che ha profondamente modificato la base giuridica del potere autorizzatorio. Dopo un'ampia premessa dedicata all'affermazione delle politiche di liberalizzazione in Europa, un'ampia parte del lavoro è rivolta ad esaminare i nuovi principi in materia di procedimenti autorizzatori che si possono ricavare dalla giurisprudenza della Corte di giustizia e dalla normativa europea. Inoltre, sono analizzati i cambiamenti che hanno riguardato i diversi settori nazionali in cui trovano applicazione le autorizzazioni amministrative, per dimostrare la progr…
Financial Globalization, Fiscal Policies and the Distribution of Income
2020
This paper provides evidence that financial globalization—liberalization of the capital account—makes income distribution more uneven by raising the share of income that goes to the richest income deciles. We also offer evidence that changes in domestic fiscal policies in the aftermath of financial globalization are one channel through which these distributional effects could occur. Specifically, we show that episodes of capital account liberalization are followed by greater fiscal consolidation and reduced fiscal redistribution, both of which lead to increased inequality.
Managing the liberalization of Italy’s retail electricity market: a policy proposal
2017
Italy’s 2015 Annual Competition Law2 provides for phasing out electricity retail prices regulation by July 1st, 2019. Under the current regulatory framework, compliant with the EU regulations,3 all electricity customers are free to choose their preferred supplier. However, residential customer and small and medium enterprises (SMEs)4 retain a right “not to choose”, in which case they are supplied by the local distribution system operator (DSO)5 at a price set by the regulator. This (transitional) scheme, known as “maggior tutela” or “greater protection”, has been in place since July 1st, 2007 . Full liberalization of retail electricity markets is strongly advocated by the EU Commission, as …
The distributional effects of capital account liberalization
2018
Abstract Episodes of account liberalization increase the Gini measure of inequality, based on panel data estimates for 149 countries from 1970 to 2010. These episodes are also associated with a persistent increase in the share of income going to the top. We investigate three channels through which these impacts could occur. First, the impact of liberalization on inequality is stronger where credit markets lack depth and financial inclusion is low; positive impacts of liberalization on poverty rates also vanish when financial inclusion is low. Second, the impact on inequality is also stronger when liberalization is followed by a financial crisis. Third, liberalization seems to alter the rela…
Exploring the nexus between financial sector reforms and the emergence of digital banking culture – Evidences from a developing country
2017
Several financial and banking sector reform programs were instituted in different countries over the last three decades. The underlining purpose of these reforms was largely to improve banking sector supervision and regulation, introduce bank privatization mechanism, introduce clearance and settlement systems, infuse competition and to stimulate financial innovation. The objectives of this study are to 1) review the relevant published literature and market survey reports on the financial & banking sector reforms undertaken in Pakistan and elsewhere, 2) analyze how these reform programs develop digital banking culture and increase financial inclusion in the country and 3) guide future resear…
The Great Financial Crisis in Finland and Sweden: The Dynamics of Boom, Bust and Recovery 1985–2000
2009
This paper explores the anatomy of the boom, deep depression and recovery in the Finnish and Swedish economies in the period 1985-2000. These fifteen years are divided into three phases: (1) financial liberalization and the boom and the overheating of 1985-90, (2) the outbreak and spread of the crisis to all sectors of the economy in 1990-92, and (3) the recovery 1993-2000. Each period is analyzed separately.
Trade, innovation and interdependence : a spatial econometric approach
2015
This thesis studies the consequences for innovation of international trade allowing for spatial interdependence. Indeed, the mechanisms through which international trade affects innovation are based on highlighting factors that, because they are the source of increasing returns, represent real engines of the growth. Yet, the accumulation process of these factors depends on effects which are constraints in space .First, trade flows by which technology is supposed to transmit between countries are interdependent. Second, the results highlighted in existing literature capture only the direct effect of trade on innovation. However, it is possible that a country benefits technology from an anoth…
Neoclassical growth, manufacturing agglomeration, and terms of trade
2007
This paper presents an integrated view of economic growth, development traps, and economic geography. We explain why there is income convergence among some countries (neoclassical regime) and income divergence among others (poverty trap regime). Income convergence (divergence) and manufacturing industry diffusion (agglomeration) are re-enforcing each other in a cumulative process. Moreover, trade openness may trigger a catch-up process of an economy that is stuck in a \"poverty trap\". This catch-up is characterized by an increase in the investment-to-GDP ratio and an improvement of the terms of trade. A new dynamic welfare gain of trade liberalization is identified, which is likely to be l…
Trade and Interlegality
2019
The idea that the WTO legal system and its institutional bodies (especially the judicial branch) have developed a single-sided ides of what is good and would attempt to impose a deep-rooted liberalization agenda on the rest of world is hardly corroborated by an empirical analysis. Quite the contrary, recourse to a series of legal techniques has made it possible to leave open a space for reciprocal understanding and debate with other circuits of legality.