Search results for "economic policy"

Asymmetric decentralisation, economic cycle, regional and local government’s borrowing in Spain

2014

This paper investigates the evolution of sub-central government borrowing in Spain over the period 1996–2011. The arguments and figures provided show that the intense process of political and fiscal decentralisation that took place over the 1990s and 2000s did not lead to higher debt ratios in terms of GDP at these tiers of government until 2007. Although a kind of overspending bias was in effect until the late 2000s, the paper shows that the evolution of GDP and tax revenues provided regional and local governments with enough resources to vigorously pursue their devolved public policy responsibilities and still keep their debt ratios under control. However, since 2008, when the world finan…

How do Banking Crises Impact on Income Inequality?

2012

We show that banking crises have an important effect on income distribution: inequality increases before banking crisis episodes and sharply declines afterwards. We also find that, while a large government size does not per se seem to reduce inequality, a rise in financial depth (i.e. better access to credit provided by the banking sector) contributes to a more equal distribution of income.

Democracy, political risks and stock market performance

2015

We study whether the emerging stock markets’ performance is affected by direct and indirect effects of democracy level and political risk. We argue that the relationship between democracy level and the political risk is parabolic instead of a simple linear relation i.e. there exists a limit in democracy after which the political risk begins to decline and this is reflected in stock prices. Using panel data for 38 emerging markets at yearly frequency and controlling for several domestic and international factors, we find a fairly robust evidence that during the period 2000-2010, this relationship is true and after some threshold, the more democratic countries produce higher returns. Similar …

Valsts ekonomiskās drošības indikatoru prognozēšanas matemātiskais modelis

2006

Rusia y la política energética de la Unión Europea

2010

A raíz de las irregularidades en el suministro de gas a la UE en 2006 y 2009 procedente de Rusia se ha vuelto a plantear el papel de este país en el ámbito energético-gasista europeo. En el diseño de un marco para la política energética europea se ha ido reconociendo un papel singular a Rusia, aunque una de las formas de incorporar a ese país en el ámbito energético europeo ha sido a través de su consideración como un riesgo geopolítico. Este enfoque se sustenta en el gran volumen de hidrocarburos que la UE adquiere en Rusia, dependencia que puede suponer que ese país pueda influir unilateralmente en el establecimiento de cantidades y precios, así como en las formas de reorganización del se…

Working Environment in the New EU Member State of Lithuania: Examining a ‘Worst Case’ Example

2008

Using recent survey data from Lithuania, it is suggested that post-communist countries such as Lithuania, admittedly a 'worst case' example, have specific legacies of serious health and safety problems. On a range of general health and occupational safety and health indicators, some three years after joining the European Union, Lithuania is currently a poor performer, and on key indicators the poorest in the European Union. Yet, formally, Lithuania has comprehensive health and safety legislation in line with EU requirements. Survey data suggest, however, a work regime of intensification and an absence of a participative working environment in which employees have a 'voice' in the safety man…

The SADC Standby Force and Its Regional Peacekeeping Training Centre: Uncertain Operational Readiness and Future of an Externally Fuelled Brigade

2017

This chapter offers a comprehensive explanation of why and how SADC countries engaged in military integration and put efforts in establishing a regional standby brigade with an associated peacekeeping training centre. This chapter pays special attention to the impact of extra-regional actors and donors’ funding in this regard since the development of the SADC Standby Force occurs at a time when the region lacks an actual external threat. Instead, the African Union, together with the EU, provides financial incentives and thus promotes the build-up of a SADC brigade. The EU’s external influence, however, has been ambivalent insofar as a freezing of donations paralysed the operational capacity…

The COVID-19 Impact on Bucharest Stock Exchange. The First Six Months

2020

Abstract The first case of coronavirus was registered in Romania on February 26. From this moment, Romania has become “infected”, just like the whole world, and the economy has suffered milder or more severe symptoms, depending on the activity field. Four months have passed since then, during which in Romania, the effects of the health crisis overlapped with a tense political situation, in an unfavorable economic context. Once the COVID-19 hits each country, the economic effects started to become visible in all the world’s financial markets, the financial market being among the first to suffer the impact of the COVID-19 crisis. This paper analyzes how the financial market in Romania was aff…

From The Lisbon Strategy To Europe 2020

2015

Abstract The idea of a Western Europe economic recovery occurs after World War II. First as a common market, and later, after enlargement towards Central and Eastern Europe as the single internal market. Due to the new challenges with which the global economy was faced, the longterm and short-term European economy needs a coherent growth economic strategy; the success of this strategy depends on joint action. Expanding the European economy is a continuous and irreversible process, yet it advances too slowly. The Lisbon strategy is a commitment to revive the European economy in all sectors. At 5 years after implementation of this strategy it was found that the results are insufficient, so me…

The Relationship Between Entrepreneurship and Digitalization - Spotlight on the EU Countries

2020

Abstract In the current context of the modern world, economies depend on a dynamic innovative environment, the innovation actually representing one of the main facilitators of change. The economic growth has certainly led to an exponential increase with respect to the interaction between innovation and entrepreneurship. Undoubtedly, innovation depends on the entrepreneurial context and mostly on the cooperation between the market process’ level actors. In order to implement the innovation in the entrepreneurial activities, there is a sine qua non condition of having the abilities to contribute as a promoter on spreading and adoption of innovation. The current innovations are, in certain sit…