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Copyright of Regional Science Policy & Practice is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The euro crisis made visible the omitted stage in the European integration process. The EU jumped from the common market straight to the monetary union, neglecting the formation of the economic union. The new EU economic governance is a combination of a vertical shift of competences, i.e. from one level of government to another level, and a horizontal shift of powers and competences, i.e. from elected governments to unelected government bodies entrusted with (parts of) government policies, from discretionary policy towards rules. The purpose of this paper is to analyze the new EU economic governance within the conceptual framework of these vertical and horizontal shifts. This two-dimensional approach offers a better analytical tool than the more traditional one-dimensional fiscal federalism approach. In the first part of the paper the focus is on the policy domains that are the objects in the shifting process. Budgetary policy mainly is at stake, but also banking regulation and monetary policy are partly involved. The second part of the paper deals with the relevant aspects of the theories on the division of powers along vertical and horizontal lines. The fiscal federalism approach to vertical separation and the time consistency theory on the horizontal distribution of power are briefly exposed. In the third part the relevant aspects of the new EU economic governance of the European semester, six-pack, two-pack and fiscal compact are presented and put into our framework of vertical and horizontal power shifts. [ABSTRACT FROM AUTHOR]

Copyright of Teorija in Praksa is the property of Teorija in Praksa and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Regional Studies is the property of Routledge and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper analyzes broad performance-based measures of intangibles in European Union countries to find new sources of growth and shows that intangible capital (IC)-driven growth was halted in European industries during the 2008-2013 financial crisis period. Much of this IC, such as purchased organizational, research and development (R&D) and information and communication technology capital, is unaccounted for in systems of national accounts, so that total IC investment is 29.6% of value added, with R&D having the lowest gross domestic product share at 5.0%. On average, deteriorating IC growth has decreased labor productivity by −2.9% annually. Policies fostering multifactor productivity growth have been strongly biased and have ignored the loss of those skills necessary for long-term growth. During 2008-2013, innovation thus failed to compensate for Europe’s dwindling fixed-capital-intensive manufacturing and job losses, but broad-based IC offers a roadmap for recovery by relying on an increasing role for IC-producing services. [ABSTRACT FROM AUTHOR]

Copyright of Papers in Regional Science is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The insurance industry plays an important role for European economic stability and the threats and opportunities it faces should be carefully determined. In this paper we highlight the main challenges by using a Political, Economic, Social and Technological (PEST) analysis. This work applies conventional actuarial thought on this area by focusing strictly on the European sector. [ABSTRACT FROM AUTHOR]

The fight against unwanted sea migration in Southern Europe has triggered the territorial redefinition of European Union (EU) borders and transformed the relationship between sending and receiving countries in the region. This paper focuses on the strategies that the EU and Spain adopted to seal the maritime border around the Canary Islands between 2005 and 2010. According to the primary and secondary data used here, the closure of the Atlantic route that happened in this period was the result of the combination of defensive and preventative measures along and beyond this section of the EU border. Initiatives aimed at promoting economic development, creating jobs at origin, and temporary migration programs paved the way for cooperation among governments, thus making possible the deployment of military resources along the border, the return/deportation of unwanted EU-bound migrants, and the externalization of migration control responsibilities. Cooperation and the mixture of proactive and reactive initiatives seen in this case study are likely to become the hallmark of a new kind of global anti-immigration border that extends beyond the territory of the state. [ABSTRACT FROM AUTHOR]

The objective of this paper was aimed at understanding the importance of SMEs in the market economy as the economic engine continues to be the factor that motivates both business and human existence. The yield and quality of the results of a national economy depend largely on the ability to determine the creation and operation of a large number of businesses which provide products and services of quality, cost and reduced prices and quantities and of appropriate requirements domestic and foreign market. The article deals with the content and structure, activities that are specific to SMEs and how they operate in the market, and how these types of companies influence the economy of the European Union and Romania. [ABSTRACT FROM AUTHOR]

By 2020 Europe has to increase its energy efficiency and share of renewables in 20%. However, even accomplishing these challenging objectives Europe will be effectively wasting energy as we demonstrate in this paper. In our way towards a fully renewable scenario, we need at least to stop wasting energy in order to guarantee the energy supply needed for growth and comfort. We waste energy when we employ more primary energy than the final energy we ultimately use and this excess cannot be reutilized. In this paper we propose the WE (wasted energy) as a novel metric to measure the performance of energy systems and set up appropriate targets. The WE incorporates information about energy efficiency and renewable sources. Unlike European legislation, the WE considers them in an integrated way. This approach will help Member States to exploit their intrinsic capabilities and design their optimum strategy to reach their objectives. Using the information in Eurostat, we calculate the WE of Member States in EU-28 and their evolution. We also analyze illustrative examples to highlight strategies to reduce the WE, study the connection between economic development and WE, and provide a tool to diagnose the potential of improvement of an energy system. [ABSTRACT FROM AUTHOR]

The European Union project initially started as a peaceful solution for war reconstruction in Europe. European countries decided to cooperate rather than compete in an aggressive way. At the beginning, this project supposed (involved) market liberalization, trade barriers removals, market access improvement (initially for coal, steel, energy and, later, for all goods, services, workforce and capital). Unfortunately, in the last decades, all these Single Market facilities have been backed by redistributive schemes, protectionist mechanisms, social engineering, subsidies and facilities packed in so-called "EU policies". New "European" institutions have been created, more and more funds have been involved to financially support this very complex redistributive intervention. The political dimension of the European Union project enhanced the economic dimension and constantly suffocated private markets and the economy. The "incomes" of the European Union that fuel its financial support are coming from taxes and/or inflation (better administered after the introduction of a Single Currency - the Euro). This paper will discuss the relevance of European Funds for economic development, especially for new members in this project. [ABSTRACT FROM AUTHOR]

Europe's GDP growth is gathering pace as a consequence of both sound policies and external factors. Forecasts are being revised upwards even though they keep potential growth estimates low. This article argues that there are good reasons to expect a scenario with higher medium term growth, where reforms are accelerated, and increases in investment, productivity, and labor participation offset the decline in population and temporary legacies from the crisis. Several studies show the big growth gains from this scenario. Moreover, experience in various European countries confirms that it is feasible. Reforms are underpinned by the current accommodative monetary policy and by a responsible, but more flexible, fiscal policy stance that smoothens adjustment, improves fairness, and supports demand in countries with fiscal space. Successes in growth-enhancing reforms, better awareness of their potential net benefits, and more attention to prevent or reduce negative distributional effects, may restore trust and garner citizens' support for this growth model. They may also help overcome the obstacles to further integration that should make this model more robust. [ABSTRACT FROM AUTHOR]

This article critically assesses the claims of the European Neighbourhood Policy (ENP) to support the economic development of ‘southern rim’ states. By amending Putnam's two-level game analysis, the paper exposes the interactions between domestic, national and supranational actors and demonstrates the outcomes of the ENP reforms in the agricultural and industrial sectors. Particular attention is given to the contribution of the ENP to the development of a dual agricultural market in these countries and to the effects of standardization for North African businesses. The article concludes by arguing that in both case studies, and despite the changes brought by the ‘Arab Spring’, (recalibrated) elites still retain established vertical ties with domestic businesses (especially small and medium-sized enterprises)—a situation that benefits certain EU industrial and agricultural companies as well. [ABSTRACT FROM AUTHOR]

Non-R&D innovation activities account for a significant portion of innovation efforts carried out across very heterogeneous economies in Europe. However, to incorporate them into economic models is not always straightforward. Moreover, relying only on R&D data does not capture well innovation in the services sector. To counter these problems, this paper builds an augmented macro-theoretical growth model where, besides R&D, non-R&D innovation activities play a key role as main drivers of TFP. The model is estimated for a sample of EU-26 countries over the period 2004–2008, showing that the distinction between R&D and non-R&D innovation activities is significant for a number of different issues. First, we find both R&D and non-R&D to be statistically significant and economic important in technological catch-up. Second, there is a differential sizable impact of R&D and non-R&D; the impact of R&D on TFP growth is found to be twice as big as that of non-R&D. And third, the two types of innovation cannot strictly been seen as complementary, at least for the case of countries with high R&D intensities or high non-R&D intensities. [ABSTRACT FROM AUTHOR]

European Union Is Killing MigrantsAt Europe's Edge: Migration and Crisis in the Mediterranean. A stark and unavoidable conclusion in Mainwaring's and Stierl's respective studies is that the immigration control policies of the European Union (EU) and its member nation-states are killing unauthorized migrants. Mainwaring begins by showing that the response of the European Union (EU) to what is widely characterized by nation-states, most media, and even some migration scholars as a "migration crisis" has been entirely disproportionate, even perverse (p. 5). [Extracted from the article]

Purpose - To identify the trajectories of occupational mobility among non-EU immigrant workers in Europe and to test empirical data against neoclassical human capital theory that predicts upward occupational mobility and labor market segmentation theories proposing immigrant confinement to secondary segments. Methodology/approach - Data from survey and semi-structured interviews (2,859 and 357, respectively) with immigrants from Brazil, Ukraine, and Morocco in the Netherlands, the United Kingdom, Portugal, and Norway. Multinomial regression analysis to test the likelihood of moving downward, upward, or stability and identify explanatory factors, complemented with qualitative evidence. Findings - We found support for the thesis of segmented labor market theories of limited upward occupational mobility following migration. However, immigrants with longer residence in the destination country have higher chances of upward mobility compared to stability and downward mobility, giving also support for the neoclassical human capital theory. Frail legal status impacts negatively on upward mobility chances and men more often experience upward mobility after migration than women. Research limitations/implications - Findings reflect the specific situation of immigrants from three origin countries in four destination areas and cannot be taken as representative. In the multinomial regression we cannot distinguish between cohort effects and duration of stay. Social implications - Education obtained in the destination country is very important for migrants' upward occupational mobility, bearing important policy implications with regards to migrants' integration. Originality/value of paper - Its focus on trajectories of mobility through migration looking at two important transitions: (1) from last occupation in the origin country to first occupation at destination and (2) from first occupation to current occupation and offers a wide cross-country comparison both in terms of origin and destination countries in Europe. [ABSTRACT FROM AUTHOR]

Because of dynamic processes of creative economy development and resistance to the crisis of modern creative industries which occurs mainly in metropolitan areas, the interest in understanding these local processes as a factor of bringing international trade competitiveness and providing convergence among the countries where those metropolises are situated is of great value. The EU, and Central and East Europe (CEE) in particular, is not an exception. This paper reveals the most productive creative industries in the EU; fins out the impact of metropolises' creative activities development on countries' international specialization. Perspective products' and geographic patterns relating creative products' international specialization for CEE countries, especially for those which have recently signed association agreements with the EU (Moldova, Ukraine, and Georgia as an important East Neighbour for the EU) are grounded. Using inter- and intra-trading estimations, the positioning of CEE countries in the EU 28(+3) international specialization pattern is indicated. The product specialization of metropolises in CEE countries which may (or may not) contribute to further internationalization of creative industries in these countries has been revealed in the article. [ABSTRACT FROM AUTHOR]

Financial regional arrangements vary across countries and change over time. Until recently, most economists and political scientists took the European model of monetary integration as the yardstick to which all other regional financial arrangements had to measure up in this article. It is argued that the Euro crisis provides an opportunity for scholars to adopt a different perspective that does not interpret the variety of financial arrangements merely as economic deficiencies caused by the incapacity or unwillingness of regions to follow the European model. Instead, the comparative study of monetary and financial regionalism has to account for the different factors that shape variations. These go from different levels of economic development, over regional political and economic preferences to historical processes which shape the institutional context and the constellation of interests and social forces. Such an approach, which integrates economic and political science approaches, de-centres the Euro model and opens up a new understanding of the global diversity of regional monetary and financial cooperation, and their potential to cope with financial crises. [ABSTRACT FROM PUBLISHER]

Over the past 30 years, the economies in Europe have undergone major transformations that have been powered by diffusion of information and communication technology (ICT), intensification of innovation, and reforms in the financial sector to support innovative endeavors. The primary objective of this study was to examine the causal relationships among ICT diffusion, innovation diffusion, venture capital investment, and economic growth for 25 countries in Europe for the period from 1989 to 2016. Using a vector error‐correction model, the study examines the underlying short‐run and long‐run relationships for the above variables. The empirical analysis shows that in the long run, venture capital investment, ICT diffusion, and innovation diffusion have significant impacts on economic growth in Europe. However, in the short run, the direction of the causality varies depending on the specific measures of ICT diffusion and innovation diffusion that are utilized. Results from this study provide valuable insights into the types of policies that will contribute to sustainable economic growth in Europe. [ABSTRACT FROM AUTHOR]

In today's global economy, entrepreneurship is an important economic growth engine for the European Union. Small and medium-sized enterprises (SMEs) are the backbone of Europe's economy, providing 85% of all new jobs. The European Commission aims to promote entrepreneurship and improve the business environment for SMEs, to allow them to realise their full potential in today's global economy (EC.2015. COSME). The expansion of SMEs in today's environment is increasingly influenced by the use of digital networks. The present research focuses on the characteristics of digital environment use by SMEs in two EU Member States - Romania and Latvia. Groups of entrepreneurs that produced both goods and services and differed in number of the employed and geographical location were surveyed in each country. The information acquired revealed the technological and economic characteristics of the digitalization process in each country, highlighting both similarities and differences. An analysis of the data gives an opportunity to identify main priorities to enhance SME digitalization processes in the future. The first of them is the accessibility of competent workers in digitization and digitalization. [ABSTRACT FROM AUTHOR]

The article focuses on European economic governance in 2017 and the growth and recovery that the European Commission, amongst others, deployed in 2017. Topics include how European Union (EU) economic policy plays a key role in establishing gendered and racialized hierarchies in the EU, several prominent indicators show a growing economy, with unemployment continuing its downward trajectory, debt low and confidence among the business community high, and the European Commission president Jean-Claude Juncker in his State of the Union address to the European Parliament, celebrated the recovery and growth, delighting in the fact that growth in the EU has outstripped that of the U.S. for the past two years as of 2018.

By using the Pedroni and Kao panel co-integration techniques, and FMOLS, DOLS and OLS methods, this study explores the long-run relationship among tourism receipts, renewable energy consumption and economic growth for the European Union countries. The long-run estimators report that "renewable energy increases economic growth", "tourism receipts increase economic growth", "capital increases economic growth" and "labor force increases economic growth". Further results and some policy implications are discussed in this empirical study. [ABSTRACT FROM AUTHOR]

The introduction of environmental taxation policies had reached most European countries by the late 1990s. The pricing of activities considered harmful to the environment has given rise to the design of various economic instruments, such as environmental taxes, aimed at promoting environmental responsibility and at enabling the Kyoto Protocol targets to be met, and at the same time generating a marked increase in tax revenues. The aim of this article is to examine whether convergence in environmental taxation has taken place among 27 EU countries, doing so by analyzing time series and applying unit root tests. Our findings show there has been no such convergence, overall, despite the existence of groups of countries with common patterns of behavior. [ABSTRACT FROM AUTHOR]

This study examines whether the CEECs' financial market development can explain the EU FDI in the CEECs during 1994-2012. The higher bank credit flows had a positive effect on the FDI in 2005-2012. This can be attributed to the major banking sector reforms undertaken before the CEECs' EU accession. Second, the stock market size had a positive effect in 1997-2004. This is due to the fact that the EU membership announcement facilitated deeper stock market integration. Third, the higher country income, in interaction with a higher bank credit flow, had only a small positive effect in 2005-2012. The higher income CEECs have pursued much deeper bank liberalization through large-scale privatization of state-owned banks. Finally, the higher country income, in interaction with a larger stock market size, had a negative effect in 2005-2012. A possible reason for this is that the EU countries have started to divert their new FDI to the non-EU countries. [ABSTRACT FROM AUTHOR]

This note argues that one should lay the focus of future European growth policy on integration and technology. This focus should be on maximising the growth effects of their interaction, with an emphasis on the importance of deep integration. The note provides three examples that show how deep integration has contributed to stop the relative economic decline in the UK vis-à-vis the EU founding members; how deep integration increased productivity in Sweden, Austria, and Finland compared to that in Norway; and how a key mechanism to advancements in the new EU member states has been the capacity of deep integration to generate institutional change. [ABSTRACT FROM AUTHOR]

We reassess the results from the literature on the relationship between the youth unemployment rate and GDP growth (Okun’s law), based on the concern that the unemployment rate is not an ideal indicator for teenagers and young adults. Using the unemployment ratio instead, we find that youth unemployment (15–24 years old) is not significantly more responsive to economic growth than prime-age (25–64) unemployment. However, compared to prime-age unemployment, teenagers’ unemployment (15–19) is relatively unresponsive, whereas young adult’s (20–24) unemployment is more strongly correlated with economic growth. These results are quite different than those obtained with the unemployment rate as the dependent variable. [ABSTRACT FROM AUTHOR]

This article assesses total EU financial flows towards the Western Balkans between 1991 and 2010. It shows that, in the short term, the majority of support has been allocated to humanitarian assistance and socio-economic development. Although the EU has declared its interest in democracy promotion, democracy assistance ranks only third on the list of its financial expenditures in the Western Balkans. Therefore, although EU financial aid is consistent with official EU programmes, it is inadequate in the post-conflict context of the EU candidate and potential candidate countries that require support for democratisation. [ABSTRACT FROM AUTHOR]

The end of the 2007-2013 programming period requires a detailed analysis of the effects that the implementation of European-funded projects has had on the allocation of resources and on the structure of production. Since labour is considered to be a mobile factor of production, interconnected within the structure of production, any intervention that modifies its structure will have long term effects on economic growth. Thus, in the current article, the evolution of the quantitative and qualitative indicators regarding the impact of the Sectorial Operational Programme Human Resource Development will be analysed, the main objective being the assessment of the magnitude of its effects on the structure of the labour market. [ABSTRACT FROM AUTHOR]

Within Europe, processes of economic convergence and divergence operate at various geographical scales, resulting in a very uneven geographical landscape. As mentioned in the international literature, the European economic space is characterized by a core-periphery structure. From this point of view, tourism has important significance since it is a noteworthy activity in the European Union and contributes to employment, income generation, overall development and economic rejuvenation of rural, peripheral or underdeveloped areas. There has been a shift in the nature of tourism demand driven by changes in consumption patterns, namely an increasing emphasis on more personalized or on specialized forms of tourist packages. This aspect required smaller and more flexible provision that created niche markets capable of providing peripheral areas the opportunity to capitalize on their comparative advantages associated with their natural environments, cultural heritage, and the role of local food in reinforcing personal identity and authenticity. The purpose of this study is to analyze EU's Eastern periphery (Bulgaria, Hungary, Poland, Romania and Slovakia) niche tourism markets potential and identify a few guiding principles that may lead to sustainable economic development. [ABSTRACT FROM AUTHOR]

The analysis of the location patterns of economic activities in both Europe and the US has been addressed in an extensive literature dependent on increasingly more sophisticated techniques that arguably reframe debate away from the policy questions in focus and towards debate on the complex empirical techniques that seem to be in vogue at any given time. In part this has been a response to some clear shortcomings in the use of simple locational Gini coefficients. It is argued herein that simple index approaches can still retain value if augmented with intuitive reading of some relevant maps. An example of the utility of this approach is provided in relation to the location patterns of four exemplar manufacturing industries in the EU and USA. [ABSTRACT FROM AUTHOR]

This article deals with the current issues of the European economic integration development and analysis of reforms in economic governance in the context of the debt crisis of the Euro area member states. Sub-themes of the text are the effects of the debt crisis on the European economy and on the member states of the European Union. Specifically, we will also consider the influence of the debt crisis on economic growth, the real and nominal convergence of member countries and, subsequently, perspectives of functioning of the single currency. The first part is devoted to the statistics of real and nominal economic variables in the EU and developments in recent years, with the emphasis on the global economic crisis and subsequent debt crisis in the euro area. In the second part, we deal with analysis of selected reform of the Stability and Growth Pact as an instrument of coordination of economic policy of the euro area's member states, namely budgetary surveillance contained in the so-called Six-Pack, Two-pack and the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (Fiscal Pact). Each new component of economic governance and its tools are a key factor not only for economic prosperity and development of the EU, but also for preserving and strengthening the EU's position in the world economy. [ABSTRACT FROM AUTHOR]