Search results for "CEEC"
showing 4 items of 4 documents
The Consequences of Banking Crises for Public Debt
2010
The aim of this paper is to assess the consequences of banking crises for public debt. Using an unbalanced panel of 154 countries from 1980 to 2006, the paper shows that banking crises are associated with a significant and long-lasting increase in government debt. The effect is a function of the severity of the crisis. In particular, for severe crises, comparable to the most recent one in terms of output losses, banking crises are followed by a medium-term increase of about 37 percentage points in the government gross debt-to-GDP ratio. Measuring the increase in debt in this manner seems more appropriate than some of the measures used in the literature that have provided off-quoted and very…
High-order services and spatial change in the central and eastern European countries
2004
This paper examines the level of high-order services in the CEECs. These services are of growing strategic importance across the whole range of production sectors in developed economies (Bailly and Coffey, 1994). They are both the cause and the consequence of globalization, in a cumulative process. It is through high-order services that large cities, and the regions around them, become closely interconnected within global networks. These services are fundamental features both in the changing pattern of regional disparities across an enlarged EU and in the process of metropolization (Bourdeau-Lepage, 2004a and Bourdeau-Lepage Huriot, 2002 and 2004). The development of high-order services wil…
The Real Effect of Financial Crises in the European Transition Economies
2010
Working Paper GATE 2009-20; International audience; The aim of this work is to assess the impact of financial crises on output for 11 European transition economies (CEECs). The results suggest that financial crises have a significant and permanent effect, lowering long-term output by about 17 percent. The effect is more important in smaller countries, with relative higher dependence on external financing, and in which the banking sector noticed more important financial disequilibria. We also found that fiscal policy measures have been the most efficient tools in dealing with the crises, while the role of monetary policy instruments has been rather blinded. Exchange rate resulted to be more …
Cooperation Formats of China and Europe: Synergies and Divergences
2017
Abstract This contribution articulates the synergies and divergences of the various formats of cooperation between China and the European countries. The EU and China have a strong interest in each other’s flagship initiatives, namely the Investment Plan for Europe, and the One Belt, One Road Initiative (Silk Road Economic Belt and 21st-Century Maritime Silk Road). The authors argue that there are certain synergies between these initiatives. Furthermore, the new initiative EU-China Connectivity Platform is aimed to explore these synergies. The authors explore the recent developments in the EU-China investments, trade cooperation and the challenges of the ever-growing CEEC-China partnership i…