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The repercussions of the Great East Japan Earthquake on 11 March 2011 spread far beyond the geographical areas directly affected. The disaster also highlighted Japan's many other structural challenges besides reconstruction needs, including persistently low growth, population aging and low...
Persistent link: https://www.econbiz.de/10013101606
The global impact of the COVID-19 pandemic has been staggering, with over 4.3 million confirmed cases and over 290,000 deaths reported worldwide. In addition to the public health crisis, the pandemic has caused significant economic disruption, leading to fears of a global recession. The...
Persistent link: https://www.econbiz.de/10014358379
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the social and political costs of a GREXIT, but also of a continuing austerity policy. It proposes a reform policy fostering growth in Greece and discusses the role of conditionality....
Persistent link: https://www.econbiz.de/10011308548
The Eastern Enlargement of the EU saw a proliferation of association agreements with countries in the ‘near abroad' under EU's European Neighbourhood Policy framework. Although such agreements are considered to be strictly welfare-enhancing, there is very little evidence to show their economic...
Persistent link: https://www.econbiz.de/10013045599
Setting limits on government action is critical to economic development. Some forms of government organization, such as market-preserving federalism, seem effective to protect property rights in the long term with good results for economic efficiency. Spain endowed its regions with “Statutes...
Persistent link: https://www.econbiz.de/10013241936
Legal simplification may improve the quality of institutions in industrialised countries that developed over-complex legal systems. In theory, this type of regulatory reform promotes economic efficiency, leading to higher levels of productivity and output. In this paper we use a Panel...
Persistent link: https://www.econbiz.de/10013079038
This paper reviews current development of the Asian Bond Markets Initiative (ABMI) and addresses the macroeconomic effects of credit guarantee schemes through the Credit Guarantee Investment Facility (CGIF) along with the ABMI. The findings from international macroeconomic simulations include...
Persistent link: https://www.econbiz.de/10013076748
The present paper contains a brief presentation and analysis, in a historical perspective through the lens of the recent major crises, of the legal framework governing the European Economic and Monetary Union (EMU), as well as current developments and challenges ahead. It is structured in three...
Persistent link: https://www.econbiz.de/10014077291
The Generalized System of Preferences (GSP) was established to promote the exports of low-income countries to industrialized countries in order to support their economic growth and development. However, the design of these schemes is rather complex and the effects of GSP have been found to be...
Persistent link: https://www.econbiz.de/10009751386
. Recently published scientific studies dealing with this theme were mainly focused on the integration of the new EU members …' stock markets with the eurozone only. Hence, this paper aims to investigate, compare and interpret integration among stock … accomplished via usage of data on daily frequency. Delivered results showed that the degree of integration of Central European …
Persistent link: https://www.econbiz.de/10012939609