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Conventional econometric analysis using VEC suggests that there is a long-term relationship between nominal world GDP and nominal world exports. The analysis cannot say anything about the causal relationships between the levels of GDP and exports. But it says a lot about the rules governing the...
Persistent link: https://www.econbiz.de/10010686984
The periodically returning debates and the disappointing bargaining on the financial perspectives for 2007-2013 have led to the proposal of a comprehensive review of the EU budget in 2008/2009. This provides an opportunity for initiating fundamental reforms of the revenue side of the EU budget....
Persistent link: https://www.econbiz.de/10005129439
The process of European Union (EU) integration proceeds from economic to political integration. The economic integration itself proceeds from trade to financial to complete market integration. The sustainability of the process depends on some causal relation existing between economic and...
Persistent link: https://www.econbiz.de/10009649584
Sustainable growth in catching-up countries requires the widening of the foreign trade bottleneck. It is however not clear whether two prescriptions aiming at solving this problem greater exchange rate flexibility and the liberalization of the capital market, are in reality not contradictory....
Persistent link: https://www.econbiz.de/10009649597
Social safety nets protect citizens against hardship. By offering compensation, social safety nets may help overcome the political resistance to trade liberalisation and structural reform, but they can also weaken the incentives to work and save. Depending on their design, safety nets may also...
Persistent link: https://www.econbiz.de/10012445006
This paper investigates the process of trade integration between the enlarged European Union and the Newly Independent States (NIS), focusing on the new EU member states (NMS) and selected NIS (Russia, Ukraine, Belarus, Moldova and Kazakhstan). The paper analyses the evolution of the regional...
Persistent link: https://www.econbiz.de/10005321909
After the Visegrad countries’ accession to the EU in 2004, one of the most remarkable developments was the sudden upturn in their mutual trade. In 2007 the value of aggregate intra-Visegrad trade was two and a half times higher than in 2003. The rate of growth in these countries’ trade with...
Persistent link: https://www.econbiz.de/10009492718
Romania will become a member of the European Union in 2007 or 2008. This paper explores the potential impacts of this step on Austria in three major fields foreign trade, FDI and labour market. Romania is a more backward country than those which joined the EU in 2004, but it has been on a path...
Persistent link: https://www.econbiz.de/10009492725
reversed recently. Private consumption gained momentum once again, backed by an impressive growth of money incomes of …
Persistent link: https://www.econbiz.de/10009492726
After the EU enlargement of May 2004, the exchange of agro-food goods between the EU 15 and the new member states (NMS) has accelerated considerably. In particular the expansion of Polish exports in 2005 resulted in the highest surplus registered by the NMS 4 (Czech Republic, Hungary, Poland,...
Persistent link: https://www.econbiz.de/10009492728