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The EU has committed to make Europe the first climate-neutral continent by 2050. Reaching this objective requires massive changes in the region. The biggest challenge is that the green transition happens without sacrificing economic progress and guaranteeing justice and inclusiveness. This pledge implies that every country be capable of addressing the trade-offs between targets while remaining committed towards the common decarbonisation goal. Our paper analyses the success with which countries are carrying out the energy transition. We propose an enhanced hyperbolic distance function and a stochastic frontier analysis approach to model the joint attainment of economic development, environmental sustainability, and energy equity. We apply our model to an unbalanced panel dataset of 29 European countries for the period 2005–2018. Our estimates show that the average performance of the economies has improved over time. The results also highlight the pivotal role of a sustainable economic development with clean energies for both slashing CO 2 emissions and fostering energy equity. Moreover, we find convergence in countries' performance, being this convergence slightly higher for the EU-15 countries compared to the rest. Finally, we show that a higher share of renewable energy sources helps countries that are lagging behind to reach their optimal performance level. [ABSTRACT FROM AUTHOR]

The paper is an attempt to address the advantages and risks connected with the wave of financial globalisation, with a focus on its impact on financial policy in European agriculture. The aim of the paper is to identify the basic conditions of the functioning and change of the financial system of agriculture under the conditions of the globalisation of financial markets. Financial globalisation, also referred to as financial integration or openness, is understood as an increase in global ties and interdependences caused by capital flows. Potentially, globalisation can bring a lot of benefits, which are manifested in an acceleration of economic growth and decreased fluctuation in consumption, which should further improve the level of overall prosperity. On the other hand, however, internationalisation of financial flows entails a range of threats, including the possibility of crisis. [ABSTRACT FROM AUTHOR]

Examining the competitiveness of public transport plays an important role because through public transport, the transport of passengers to schools, public healthcare establishments and work is ensured. In addition, transportation for vulnerable groups of passengers (students, seniors) is provided. On the other hand, public transport constitutes a financial burden on public budgets. The aim of this paper is to point out that public transport does not have an equal status in the transport market within the European Union. In the states of Central and Eastern Europe, public transport had a dominant position in the transport market in the 90s. Nowadays, the market share is declining, particularly in the bus transport, with the rising costs for public budgets regarding an increase in individual motoring. The aim of this paper is to highlight the possibilities of increasing the competitiveness of public transport by integrating different components of public transport. Another aim is to define the possibilities of financing public transport. [ABSTRACT FROM AUTHOR]

The current dynamics in the Western European urban system are in marked contrast with the bourgeoning literature stressing the importance of agglomeration for economic growth. This paper explores whether this is due to the rise of 'city network economies', leading to processes of borrowed size as well as the rise of agglomeration shadows in networks of cities. The spread of metropolitan functions over Western European cities is analysed. It is found that network connectivity positively enhances the presence of metropolitan functions, but local size remains the most significant determinant for most types of functions. The importance of size and network connectivity differs across metropolitan functions and across cities. [ABSTRACT FROM AUTHOR]

In the context of the economic crisis that started in the United States in 2007, economic growth has become of great importance for the countries affected by the crisis further to their confrontation with lower growth rates of GDP per capita. At national level, governments are searching for that mix of optimal economic policies that would revive economies on the upward and also sustainable trend. One of the key policies in this regard, especially for the countries in Central and Eastern Europe which intend to adopt the euro currency, is the tax policy. Its main instruments are taxes. In this paper, we pay special attention to these instruments and to the connection that they have with the economic growth. This paper is divided into three parts. The first part presents a few ideas related to the importance of taxes at national level, the second part is an analysis in terms of taxation of the Central and Eastern Europe countries, while the third part consists of a panel-type assessment of the relation between economic growth and taxation level. [ABSTRACT FROM AUTHOR]

Regeneration of brownfields gradually becomes an important challenge for regional and local development across the East-Central European countries. Due to the recent huge economic transition and global societal changes thousands of abandoned sites (brownfields) sprang up across the landscape after various economic activities, the Czech Republic included. This paper evaluates the perception of brownfields along with their individual reuse options by local population in one of the city districts of Ostrava which was heavily influenced by industrialisation during the last 150 years (Svinov city district, city of Ostrava, eastern part of the Czech Republic). The first part of the paper is devoted to brief theoretical aspects of brownfields regeneration and its perception. The second part of the paper presents us with the results of the questionnaire survey which was carried out among local population of Svinov (n=163) focusing on the perception of five selected local brownfield sites. It was found out that the issue of brownfields rouses huge discussions among public of the model area of Svinov. Among the most supported re-use options of local brownfields greenery and cultural facilities were identified. Brownfield sites located outside the settled area of the city quarter are almost disregarded while the re-use of centrally located sites for greenery is strongly supported. In the final part of the paper, the findings are synthesized and recommendations for public administration and potential investors are formulated. [ABSTRACT FROM AUTHOR]

The dynamics and implications of internationalization vary quite considerably among different regions and countries, depending on the history and structure of their Higher Education systems. With a target to become the most competitive and dynamic economy in the world, Europe has scaled academic mobility, partnerships between the European Research Area and the world's top universities. The aim of this paper is to present some considerations regarding the internationalization of academic space in emerging European countries; more specifically it is an analytical review of the opinions on the phenomenon of internationalization in diachronic perspective of its development, in order to distinguish the structural problems at the level of interference, of the internationalization strategies before the economic crisis in the academic phenomenon. It can be a point of view in order to prove (argued by some causal relationship) that the academic Emergent Europe manifest itself in a differentiated manner, even if the strategies are common. [ABSTRACT FROM AUTHOR]

The paper analyses the impact of domestic and international tourism on the economic growth process for 179 European regions. The econometric analysis is based on a spatial growth regression framework where the rate of GDP per capita growth at the regional level for the period 1999-2009 depends on tourism flows, in addition to the traditional growth variables. Besides controlling for initial conditions, we also include a wide set of covariates to account for the endowment of human and technological capital and for the geographical, social and institutional features of the regions. The results, confirmed by several robustness checks, demonstrate that regional growth is positively affected by domestic and international tourism. [ABSTRACT FROM AUTHOR]

The response by regional and national economies to exogenous impulses has a well-established literature in both spatial econometrics and in mainstream econometrics and is of considerable importance given the post-2007 economic crisis, which is characterized by a period of severe global instability resulting from unprecedented economic shocks. This paper focuses on dynamic counterfactual predictions and impulse-response functions derived from appropriate econometric models. These provide insight regarding the question of whether responses to economic shocks are transitory or whether they have a permanent effect. Analysis shows that output shocks have had permanent effects on productivity so that economies have tended not to return to the pre-shock path but rather adjust to new levels. This suggests that the current recession will be embodied permanently within the memory of some of Europe's leading economies as a hysteretic effect. [ABSTRACT FROM AUTHOR]

World trade suddenly plummeted in the last quarter of 2008 after the bankruptcy of Lehman brothers and the subsequent meltdown in financial markets. Even if the following recovery was impressive, trade growth is now noticeably below trend. The anaemic momentum in global export volume questionswhether the financial crisis has permanently changed the trade landscape. In this paper, we address trade elasticities in some Central and Eastern European economies by estimating a standard import function equation. We employ a dynamic panel Auto Regressive Distributed Lagmodel with the Common Correlated EffectsMean Group estimator to cope with cross-sectional dependence. Themodel is fit on a sample of eight countries over the period 1995:q1-2017:q1. First, we estimate long-run import elasticities with respect to gdp and the relative import price. Then, we discriminate between booms and slowdowns. Results confirm imports respond differently over the business cycle. [ABSTRACT FROM AUTHOR]

In the period of nearly three decades of post-socialist transition in the countries of Southeastern Europe (SEE), there were numerous synergistic, destructive and anti-developmental hindering institutional factors that directly caused the creation of social and economic insecurity. Many developmental problems, as well as social, economic and institutional deformations, have generated a lasting and deep crisis. This paper analyzes the basic deformations of public sector management, which has emerged as a driving force for all development problems in the SEE countries. It starts with two assumptions: first, weak and slow institutional changes were deliberately programmed by the nomenclature of government, in order to eliminate institutional competition and affirmation of the quasi-institutional monism of neoliberal type, which have enabled the substitutive development of the so-called alternative institutions; and second, highly interest-oriented motives of the government nomenclature have been the main cause of ignoring rational recommendations by representatives of non-institutional economic theories. [ABSTRACT FROM AUTHOR]

The aim of the paper is to establish the future intervention priorities in building a new programme that would target the economic development in the research area. The used methodology included an adapted A'WOT analysis - an initial SWOT analysis and a prioritization of the items through an expert questionnaire. In the present paper we analyze the experts' opinions and the areas where intervention is needed for the optimum strategies for the 2014-2020 financial frame. These should rely on the strengths in the Guidelines for Applicants, the rules for projects implementation and the institutional system, it should consider changes on the weak points concerning the programme objectives, the Guidelines for Applicants and the beneficiaries consultations, it should make use of opportunities coming from the crossborder status, European Union frame and economic opportunities and overcome the differences coming from crossborder status, membership of two different supranational structures and the economic gaps. [ABSTRACT FROM AUTHOR]

Fifteen countries from CEE region are analyzed in the paper within the period from 2005 till 2010 with the aim of determining the relation between capital availability and economic growth. Moreover, the analysis uses the correlation and panel regression as main tools for confirming the hypotheses. Furthermore, within the paper financial inclusion and availability of financial services as one of the most important topics within EU are being analyzed. The main focus is on empirically investigated correlation between financial development and faster current and future rates of economic growth, with special focus on physical capital accumulation, and economic efficiency improvements. Finally, there is a link established between the growth of the citizens' wealth and economic development of the country and the availability of bank services and foreign capital inflow as well. Consequently, the obtained results indicate that the effects of world economic crisis influenced the citizen's welfare starting from 2009. [ABSTRACT FROM AUTHOR]

The presented research focuses on the development of an intermodal transport system in Europe. The model for a national intermodal transport network is presented based on conditioning of Poland. It proposes the location of intermodal terminals including port, regional, local and transit terminals. It also gives the forecast of intermodal units transhipments by the year 2030. Organizational solutions that provide for significant improvement to the quality of intermodal transport are suggested. The paper ends with the Authors' conclusions of a specific and strategic nature. [ABSTRACT FROM AUTHOR]

The reform and development of the financial sector was one of the most significant challenges that the former socialist countries faced during their transition to a market economy. At the start of this transition, their financial system was underdeveloped and centralised (monobank), where the central bank of each economy also functioned as a commercial bank. The restructuring, integration and development of the financial sector to enhance viability and enable it to respond to new demands was imperative, particularly for economic growth and the convergence of these economies with the developed economies of the region. This process of financial integration suffered a powerful shock with the economic crisis transmitted to the region in 2009. The initial aim of this paper is to highlight the problems created after the global economic crisis affecting the financial institutions of the former socialist countries of South-eastern Europe, as well as the problems that already existed, though not apparent, and were nevertheless exacerbated by the outbreak of the crisis. An attempt to investigate the role of the financial sector, dominated by the banking sector, follows, with regard to achieving macroeconomic equilibrium among the economies of the countries in the region and the potential for sustaining it in future as part of a path to growth. To fully satisfy this goal, we propose that it is preferable to avoid a linear approach to the issue, abandoning equilibrium theory to adopt an analysis inspired by the method of cumulative causation, based on the work of Nicholas Kaldor. Our analysis allows us to postulate that, in a post-crisis period, conditions prevail for the potential appearance of future structural impasses of a cumulative nature, which could lead to a systemic crisis and leave the development process of the region's economies exposed. [ABSTRACT FROM AUTHOR]

The economic growth literature suggests that knowledge spillovers are subject to distance decay effects. In this paper the main aim is to provide a theoretical framework and empirical evidence on the role played by other kinds of proximities, namely relational, social and technological proximity, in explaining productivity growth. Using a sample of 249 EU 27 NUTS 2 regions in the period 1990-2004, semiparametric spatial autoregressive models are estimated. Results provide evidence of a positive role of social and relational proximities as important channels of knowledge spillovers, and on the fact that, when simultaneously present, different kinds of proximities generate synergic effects on growth. Resumen La literatura sobre el crecimiento económico sugiere que los spillovers de conocimiento están sujetos a efectos de deterioro por distancia. El objetivo principal de este artículo es proporcionar un marco teórico y pruebas empíricas sobre el papel desempeñado por otros tipos de proximidades (relacional, social y tecnológica), a la hora de explicar el crecimiento de la productividad. Utilizando una muestra de 249 regiones NUTS 2 de la UE 27 para el período 1990-2004, se estiman modelos autorregresivos espaciales semiparamétricos. Los resultados aportan pruebas del papel positivo de las proximidades sociales y relacionales como canales importantes de spillovers de conocimientos, y del hecho de que, cuando se presentan simultáneamente, los diferentes tipos de proximidades generan efectos sinérgicos sobre el crecimiento. [ABSTRACT FROM AUTHOR]

Sustainable development has become one of the burning issues on a global, local and individual levels as a result of climate changes, pollution, rapid development and changes in the global information, economic, industrial and business sectors and value systems. In this sense, education for sustainable development, as part of lifelong learning, has become one of the most important strategic and educational policy issues in Serbia. The aim of this paper is to highlight the potential of geography as a school subject, with special reference to the role of the subject matter of geoheritage and geodiversity in education for sustainable development. The aim of pointing the benefits of integrated and out-of-classroom approaches in teaching geography, which favour an active, experiential and exploratory approach to learning about geodiversity and geoheritage, is that students can acquire competencies in sustainable development. As outcomes of geography classes, competencies also represent a basis for raising awareness and increasing accountability and responsibility in individuals for preserving geoheritage and geodiversity as part of the Serbian national treasure. [ABSTRACT FROM AUTHOR]

In this paper, emphasis is placed on the complexity of rural-urban relations and their reflection on the important socio-geographical processes, from de-agrarian and migration to the creation of new settlements and strengthening nodality individual centres. A clear polarization in urban and rural areas is more difficult due to the lack of adequate statistical indicators or deployment of institutions with different degree of importance, population density and distance from major city, providing sufficiently clear evidence of the degree of urbanity of local communities. This can be best seen in the Bosnia and Herzegovina (BiH) which is sparsely populated country with an average of 74 inhabitants/km2. Since there is a clear correlation between this indicator and sustainable development, increasing urbanization rates, which can stimulate economic growth and reduce poverty, is set as the primary social objective. Many developing countries looking for a way better governance of rural-urban relations, as one of the elements of inclusive growth, as a crucial element in the development of any society through innovation (industry) and harmonious territorial relations (urban-rural). Since BiH has a negative historical heritage but also unfavourable indicators of the degree of urbanization (40%), macroeconomic stability (29% of the GDP of the EU average) and the degree of innovation (44% compared to Switzerland) it is clear that should be analyzed and rural-urban relations as one of the signposts along the way of creating a better and healthier society. [ABSTRACT FROM AUTHOR]

This paper examines the long-run relationship between venture capital investment and per capita economic growth in the 19 European Economic Area (EEA) countries for the period 1989-2014. We use three different indicators of venture capital (VC) investment, namely VC at early stage investment, VC at later stage investment, and VC total investment. Using cointegration technique, the study warrants the support of long-run relationship between VC investment and per capita economic growth in a few cases, typically with reference to a particular VC indicator and per capita economic growth we use. Using vector auto-regressive (VAR) model for testing the Granger causalities, the study acknowledges mixed evidence of the relationship between the venture capital investment and per capita economic growth in the selected EEA countries, both by individual country and at the panel setting. In some instances, venture capital investment leads to per capita economic growth, lending support to supply-leading hypothesis (SLH) of VC investment-growth nexus. In other instances, it is the per capita economic growth that regulates the level of venture capital investment, lending support to demand-following hypothesis (DFH) of VC investmentgrowth nexus. There are also circumstances, where venture capital investment and per capita economic growth are mutually interdependent. That is the situation where both are self-reinforcing and offer support to feedback hypothesis (FBH) of VC investment-growth nexus. In addition, there are also instances, where the venture capital investment and per capita economic growth are independent of each other. This is the situation where both are neutral and offer support to neutrality hypothesis (NLH) of VC investment-growth nexus. To summarize, Granger causality results vary from country to country within the EEA countries, depending upon the type of venture capital investment and per capita economic growth that we use in a particular empirical exploration process. The policy implication of this study is that the economic policies should recognize the differences in the venture capital investment and per capita economic growth in order to maintain sustainable development in these EEA countries. [ABSTRACT FROM AUTHOR]

This paper provides a spatial neoclassical growth model for a system of N regional economies. Regional output growth is determined by interregional fixed capital relocations which depend on initial factor endowments as well as a region's relative location in space. The dynamics of the model are captured by a Taylor approximation, which provides a testable spatial econometric model specification that is applied for European regions on the NUTS 2 level. Both theoretical and empirical results show how relatively high human capital endowments are beneficial to growth if found within one region, but disadvantageous if found in neighbouring regions. Este artículo proporciona un modelo de crecimiento neo-clásico espacial para un sistema de N economías regionales. El crecimiento del producto regional viene determinado por deslocalizaciones interregionales de capital fijo que dependen de la dotación de factores inicial, así como de la relativa localización espacial de una región. Las dinámicas del modelo son capturadas mediante una aproximación de Taylor, que proporciona una especificación comprobable de modelo econométrico espacial que se aplica a regiones europeas a nivel NUTS 2. Tanto los resultados teoréticos como los empíricos muestran como las dotaciones relativamente elevadas de capital humano son ventajosas para el crecimiento cuando se concentran en una región, pero una desventaja si se encuentran en regiones vecinas. [ABSTRACT FROM AUTHOR]

Purpose – The paper aims at providing evidence on the impact on employment of outward foreign direct investment, particularly from developed countries into low-wage countries, which is a major concern in many developed countries. Design/methodology/approach – The effects of foreign production undertaken by Belgian foreign-oriented companies on employment in Belgium are investigated by performing econometric tests for complementarity or substitution between home and affiliate employment. The data are from the Amadeus database and consist of a sample of 254 Belgian parent companies with foreign affiliates in low-wage and other high-wage European countries during the 1999-2007 period. Findings – The results show that, given the size of parent production in the home country, Belgian multinational enterprises with foreign affiliates in higher-wage European countries tend to employ more labour at home the more they produce in the host country. This probably reflects the needs of foreign affiliates in higher-wage European countries for management and supervisory services from parent companies. Another explanation might be that Belgian outward FDI is largely vertical. In contrast, no evidence is found about employment reallocation between parents and affiliates operating in lower-wage European countries. Originality/value – The paper provides evidence on overall effects on employment in Belgium of its outward foreign direct investment for the period 1999-2007, i.e. using the most recent data available. In contrast to many other studies, statistical diagnostic tests were carried out to choose the appropriate model to best fit the data. [ABSTRACT FROM AUTHOR]

The article focuses on several information resources related to global economic crisis. A paper by Richard King and Caroline Sweetm discusses the relationship between recession and gender inequalities. Another paper by Rania Antonopoulos also focuses on the impact of financial crisis on the society. Another paper discusses the role of women in economic development in Europe.

Purpose - The paper seeks to analyse the impact of different public policies on inequality, unemployment, growth and the tax burden. Design/methodology/approach - A dynamic general equilibrium model is built, in which growth is driven by endogenous technical progress, to analyse the impacts of several policies (minimum wage, redistribution and R&D subsidies financed by an income tax). Findings - All policies except pure redistribution are better than non-intervention in terms of growth. The authors distinguish three major policy patterns. The Anglo-Saxon model is characterised by high growth, high inequality, low unemployment and a low tax burden. The Nordic model combines high growth, low inequality and low unemployment, and a high tax burden. The Continental European model puts together medium inequality and a medium tax burden, and higher long-term growth is paid for by high unemployment. Research limitations/implications - The model could be extended by the introduction of educational policy. Originality/value - The paper distinguishes three configurations that capture the main features of the developments in Anglo-Saxon countries, Scandinavian countries, and Continental European countries in the 1990s. It thereby provides a general framework to analyse and compare these experiences. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to shed light on the controversial issue of regional development incentives. Although extensive research has been conducted, a review of the literature gives an inconclusive answer to whether economic incentives are effective. Why do researchers arrive at different conclusions, even after analysing the same programmes? Among the problems that we find, for example, is the fact that for some researchers ‘effective’ means the significant location of new firms in targeted areas, while for others the creation of jobs regardless of whether new firms are arriving in a significant fashion. Furthermore, as we elaborate, the selection of an econometric model will have a significant impact on expected results. Different models, with different limitations, will lead researchers to evaluate the same incentive programme but arrive at different conclusions regarding its effectiveness. The contribution of the paper is to inform policymakers about the potential opportunities and pitfalls when designing incentive strategies. This is particularly relevant, given that both the US and Europe have been promoting incentives as a tool for regional economic development. [ABSTRACT FROM AUTHOR]

Today, political leaders throughout Europe are facing a real paradox. On the one hand, Europeans want them to find solutions to the major problems confronting our societies. On the other hand, people increasingly distrust institutions and politics or are simply not interested in them. The problem is acknowledged by national parliaments and governments alike. It is particularly acute at the level of the European Union. Many people are losing confidence in a poorly understood and complex system to deliver the policies that they want. The Union is often seen as remote and at the same time too intrusive. The Irish ‘no’ highlights the impact of these problems on many people. This was reflected not only in the final outcome of the referendum, but also in the low turnout and quality of the debate which preceded it. Yet people also expect the Union to take the lead in seizing the opportunities of globalisation for economic and human development, and in responding to environmental challenges, unemployment, concerns over food safety, crime and regional conflicts. They expect the Union to act as visibly as national governments. Democratic institutions and the representatives of the people, at both national and European levels, can and must try to connect Europe with its citizens. This is the starting condition for more effective and relevant policies. The Commission identified the reform of European governance as one of its four strategic objectives in early 2000. Political developments since then have highlighted that the Union faces a double challenge: there is not only a need for urgent action to adapt governance under the existing treaties, but also for a broader debate on the future of Europe. The White Paper proposes opening up the policy-making process to get more people and organisations involved in shaping and delivering ELI policy. It promotes greater openness, accountability and responsibility for all those involved. This should help people to see how Member States, by acting together within the Union, are able to tackle their concerns more effectively. Having been passed in July 2001, this document attracted comments by many participants within public consultations, and the realisation of the principles laid down in it was one of the four crucial determinants of the European Commission activity in the period between 2000 and 2004. The White Paper on European Governance represents one of the foundations of the contemporary development of the European governance models, which is the reason why we are publishing its translation here. [ABSTRACT FROM AUTHOR]

Global competition has evolved from the competition between companies to the competition between regions. In this context, clusters play an important role as competences' concentration poles. The cluster initiatives represent concentrated efforts to increase the wealth and competitiveness in a certain region including companies, local administration, research and training institutions. This paper proposes the analysis of the European clusters' role in ensuring the regional development. Resulted conclusions emphasize both the positive results of clusters' existence, as well as the fields where improvements can be made in order to increase the clusters' impact on the economic development. [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]

This paper explores a causal relationship between employment rate and economic growth for European Union countries, in general, and produces a structural assessment of employment on the background of labour market dynamics. Economic growth is the key in economic theory and the main source of well-being and quality of life. Since the 2008 financial crisis, most European countries have experienced job shortage and unemployment problem, but today's European economic outlook is strengthening on the bases of a GDP growing momentum. Empirical data shows, regardless the GDP's moderate positive trend, the employment rate did not increase enough. Given this, the present analysis address the question: to what extent the employment rate is affected by economic growth? [ABSTRACT FROM AUTHOR]

This paper analyses the dynamics of the reconfiguration of Bolivian migratory fields in the context of the crisis affecting European destination countries. At a global level, we show how the 2008 worldwide economic crisis, and, in particular, its severity in Spain, has reoriented Bolivian migratory flows towards regional Latin American destinations: economies undergoing larger relative growth, such as Brazil and Chile, are newer destinations, while migration to Argentina has a long history. In a more qualitative approach, based on fieldwork interviews with Bolivian migrants in Spain, we explore the key factors that determine migratory strategies: whether to stay, return or re-emigrate. [ABSTRACT FROM AUTHOR]

In this paper we analyse the impact of financial liberalization and reforms on the banking performance in 17 countries from CEE for the period 2004–2008 using a two-stage empirical model that involves estimating bank performance in the first stage and assessing its determinants in the second one. From our analysis it results that banks from CEE countries with higher level of liberalization and openness are able to increase cost efficiency and eventually to offer cheaper services to clients. Banks from non-member EU countries are less cost efficient but experienced much higher total productivity growth level, and large sized banks are much more cost efficient than medium and small banks, while small sized banks show the highest growth in terms of productivity. [ABSTRACT FROM AUTHOR]

Abstract: The rapid emergence of the European Union (EU) as a leader in global environmental politics has led many scholars to argue in favour of the EU being a ‘normative power’ in international relations. This paper critically examines the EU''s biofuels policy and evaluates whether its attempts to lead by example and shape international practice in this field could support such arguments. Europe''s biofuel policies are evaluated through a sustainable development lens, so as to determine the extent to which it has embraced a holistic approach to sustainability. While not dismissing that the identity of the EU is indeed an explanatory factor and that normative intentions may well be regarded as a motivating force, this study argues that an interest-based perspective on international environmental regulation offers a supplementary view of how an actor''s preferences for an international regime are shaped. By erecting barriers aimed at shielding its own inefficient domestic biofuels production the EU is in essence placing trade competitiveness and economic growth above environmental protection, thus permitting sustainability concerns to be addressed only in part. [Copyright &y& Elsevier]

Portugal faced a decade of feeble economic growth after joining the European Economic and Monetary Union. Systematic research of the specific effects of this regime change on growth is still lacking. The counterfactual analysis that we undertake in this paper seeks to fill such a gap. Our findings suggest that the adoption of the Euro did have adverse effects on Portuguese economy. To the contrary, in 2009, the Euro seems to have sheltered the Portuguese economy from the worse effects of the international financial crisis. [ABSTRACT FROM AUTHOR]

Characterizing climatic changes in the high-altitude mountain regions helps scientists and policy makers understand the effects of such changes on water resources, economic development, and the health of ecosystems. This paper proposes a change-point analysis to determine the time and magnitude of summer temperature changes in the summit areas of Romanian Carpathians between 1961 and 2007. Due to their altitude, massiveness, and position, Romanian Carpathians are an important barrier for different types of air masses between Western and Southeastern Europe. The results show that the change in summer temperatures occurred shortly after 1980. The average magnitude of this change is consistent with changes occurring in other parts of Southern Europe in the same time period although the magnitude of changes at individual weather stations may differ substantially. We aided our analysis by a statistical method based on regression models with serially correlated ARMA errors. [ABSTRACT FROM AUTHOR]

In this paper, we evaluate income distributions in four European countries (Austria, Italy, Spain and Hungary) using two complementary approaches: a standard approach based on reported incomes in survey data, and a microsimulation approach, where taxes and benefits are simulated. These two approaches may be expected to generate slightly different results, particularly in respect of individuals on lower incomes, because benefit receipts tend to be under-reported in survey data, and over-estimated in microsimulation procedures. However, we find that the two approaches do in fact produce reasonably consistent results, in terms of both inequality measures and poverty rates. To the extent that the results differ, we explore the reasons why these differences arise, and suggest directions for future research, in which each approach may inform improvements in the other. [ABSTRACT FROM AUTHOR]

ABSTRACT Aim This paper identifies socio-economic driving forces of biodiversity change and analyses their political and economic dynamics by modelling socio-economic parts of three scenario storylines developed for the ALARM (assessing large-scale risks for biodiversity with tested methods) project. In the BAMBU (business-as-might-be-usual) scenario policy decisions already made in the European Union (EU) are implemented and enforced, but no additional measures are introduced. The GRAS (growth applied strategy) scenario describes a future world orientated towards economic growth and complete deregulation. And finally, SEDG (sustainable European development goal) is a normative scenario focusing on the achievement of sustainable development. Methods The GINFORS (global inter-industry forecasting system) model is applied to quantify the effects of different sets of policy measures representing the three scenarios. It allows investigation of the inter-relations between socio-economic driving forces and the state of the environment. Results The presented results for the 25 EU countries focus on the following variables: unemployment, material extraction, energy supply and CO2 emissions. The lowest amount of unemployment is in the SEDG scenario, where it steadily decreases from 2005 to 2020. In BAMBU it falls to a level that is also below that of 2005. In GRAS, the number of unemployed people in 2020 is clearly over the value of 2005. The development of total material extraction from 2005 to 2020 is nearly stable in BAMBU, while it clearly increases in GRAS. Only in SEDG is there a reduction in resource use. None of the scenarios achieves a substantial reduction in energy use. However, the development of CO2 emissions shows a decoupling from energy supply. For BAMBU there is a slight decline in CO2 emissions over time, for GRAS they increase but with a slightly smaller growth rate than energy supply. In SEDG the emissions are reduced. The decoupling trends can be explained by a shift to more renewable energy sources in all scenarios, with the highest share in SEDG. Main conclusions The results indicate that a growth-oriented policy design, such as presented in the GRAS scenario, is not compatible with the conservation of biodiversity. Only in the SEDG scenario do the policy measures support the idea of a sustainable development, but in some respects they are still not ambitious enough. [ABSTRACT FROM AUTHOR]

Synchronization of growth rates are an important feature of international business cycles, particularly in relation to regional integration projects such as the single currency in Europe. Synchronization of growth rates clearly enhances the effectiveness of European Central Bank monetary policy, ensuring that policy changes are attuned to the dynamics of growth and business cycles in the majority of member states. In this paper, a dissimilarity metric is constructed by measuring the topological differences between the GDP growth patterns in recurrence plots for individual countries. The results show that synchronization of growth rates were higher among the euro area member states during the second half of the 1980s and from 1997 to roughly 2002. Apart from these two time periods, euro area member states do not appear to be more synchronized than a group of major international countries, suggesting that apart from specific times when European integration initiatives were being implemented, globalization was likely the dominant factor behind international business cycle synchronization. [ABSTRACT FROM AUTHOR]

The article presents information on several papers presented at the conference Making Europe: The Global Origins of the Old World. Topics discussed include global connections in European history, colonialism and modernization in India, Belgian colonialism in the Congo and economic development in Europe and China.

Abstract: Despite increased efficiency in the use of natural resources, the use of these resources continues to increase in most societies. This paper examines the discrepancy between the potential decrease of use of natural resources, as an effect of increased efficiency, and actual use. During the period 1960–2002, this difference was found to grow faster in the USA than the mean for six West European countries. Possible reasons for this difference between the two regions are analysed. To reduce the anthropogenic flows of energy and material, and the consequent deleterious effects on the biosphere, it will become necessary to adapt consumption to degree of efficiency in the use of natural resources. Based on the comparison between the two regions, some economic aspects of this issue are discussed. [Copyright &y& Elsevier]

This paper argues that the current dominant wholesale payment system design is the result of particular historical interests and competitive relationships. It demonstrates how this model has become an institutionalized underpinning for the global financial framework, contending that it is neither a legitimate international standard, nor an appropriate one for developing countries. [ABSTRACT FROM AUTHOR]

Although often now presented as a potentially universal set of legal principles, the particular history of the initial development of intellectual property rights (IPRs), first in Venice, then subsequently in Britain and across Europe is directly related to Europe's specific history. In this paper, I argue that we cannot separate the development of intellectual property as a legal form from the specific early history of capitalism in Europe. The technological, institutional and political philosophical developments that underlay the development of nascent IPRs were a specific historical conjunction and suggests that rather than a universal set of rights, IPRs must be set in their historical, political economic context. In conclusion I draw some links between questions of differential treatment under contemporary multilateral governance through the Trade Related Aspects of Intellectual Property Rights agreement and this early history of intellectual property to criticise the claims for a universal set of institutionalised rights without regard to levels of economic development. [ABSTRACT FROM AUTHOR]

Private health insurance is playing an increasing role in both high- and low-income countries, yet is poorly understood by researchers and policy-makers. This paper shows that the distinction between private and public health insurance is often exaggerated since well regulated private insurance markets share many features with public insurance systems. It notes that private health insurance preceded many modern social insurance systems in western Europe, allowing these countries to develop the mechanisms, institutions and capacities that subsequently made it possible to provide universal access to health care. We also review international experiences with private insurance, demonstrating that its role is not restricted to any particular region or level of national income. The seven countries that finance more than 20% of their health care via private health insurance are Brazil, Chile, Namibia, South Africa, the United States, Uruguay and Zimbabwe. In each case, private health insurance provides primary financial protection for workers and their families while public health-care funds are targeted to programmes covering poor and vulnerable populations. We make recommendations for policy in developing countries, arguing that private health insurance cannot be ignored. Instead, it can be harnessed to serve the public interest if governments implement effective regulations and focus public funds on programmes for those who are poor and vulnerable. It can also be used as a transitional form of health insurance to develop experience with insurance institutions while the public sector increases its own capacity to manage and finance health-care coverage. [ABSTRACT FROM AUTHOR]

European nations are undergoing rapid and fundamental changes in response to social, political and economic events that are occurring both within and outside the region. These changes are far-reaching in scope and, ultimately, are expected to result in a redefinition of "Europe" and what it means to be "European." Using the author's extensively pre-tested Index of Social Progress (ISP), the research reported in this paper: 1) identifies the major changes in social development that have taken place in 36 European nations since 1970; 2) contrasts Europe's recent social development trends with those of other major world regions (including Asia, Africa, Latin and North America, and Oceania); 3) using aggregate scores on the Weighted Index of Social Progress (WISP), identifies Europe's "social leaders" (SLs), "middle performing countries" (MPCs), identifies Europe's "social leaders" (SLs), "middle performing countries" (MPCs), and "socially least developing countries" (SLDCs); 4) identifies the major development challenges confronting Europe at the outset of a new decade; and 5) provides baseline data against which future developments in the region may be assessed. [ABSTRACT FROM AUTHOR]

The telecommunication industry has experienced significant growth and consolidation in the last decade. The desire of large, multinational customers to obtain fully-integrated, end-to-end global telecommunications services from a single source pushed telecom firms to offer multiservice broadband and seamless worldwide telecommunications networks. However, a major barrier to achieving this goal is the significant capital required to construct and deploy a global network. To overcome these constraints, telecom companies typically adopt approaches like--mergers and acquisitions (M&A), joint ventures, legal partnerships and strategic alliances. As the marketplace continues to grow globally, convergence among major enforcement authorities on fundamental competition principles, such as the role of efficiencies, will be critical. The treatment of efficiencies is however controversial and poses many questions. This research paper explores some of the efficiencies-based motivations and rationales for Telecom M&A. It reviews the procedures and regulatory authorities responsible for telecom merger review in the U.S., Europe and Canada. It also examines the treatment of efficiencies in the context of merger review in three jurisdictions and finally it discusses some of the outstanding policy issues related to treatment of efficiencies.

Local economic institutions (systems of property rights and rules of land use) influenced the course of economic change in European history, as well as state formation and religious change. In this paper, I outline the theoretical implications of these regional effects. None of our existing macrolevel theories and explanations of the "rise of the West" can adequately incorporate them, so I present an alternative theory, based on rational choice premises. Yet the existence of these regional effects also highlights the deficiencies of a rational choice theoretical approach. First, the approach is unable to explain historical contexts, institutional legacies, or the effects of timing, which were vital for outcomes of social change but that lie outside the model itself. Second, although it can be very useful, the model of the actor motivated by material self-interest often proved inadequate in historical situations. Solutions are suggested. [ABSTRACT FROM AUTHOR]

Despite existing policies of regional development and cohesion at the national and the EU level, economic regional inequalities or disparities stay relatively high or decrease too slowly. In this context, policies to reduce economic regional disparities in the European Union are a constant concern both for policy-makers and for theoretical and empirical research because of the strong impact on sustainable development in general. In this study we combine elements of theoretical and policy discussions with the empirical assessment of economic regional development in the European Union in order to identify the state of regional disparities, what factors are favouring unbalanced growth in different regions of the EU and to find an appropriate theoretical setting to understand, explain and reduce with regional inequality in the EU. [ABSTRACT FROM AUTHOR]

This paper attempts to show that convergence or divergence in the European Union (EU) will be influenced by developments in the periphery of Europe to a considerable extent, although the core situation cannot be ignored. In essence, therefore, it is the relationship between core and periphery that will determine the future of the EU. The main thesis of this study is that the EU economic position is such that divergence is more likely to occur than convergence. The focus of the analysis is what has come to be known as ‘Peripheral Fordism’, which enables us lo suggest that periphery prospects for economic development are predicated upon substantial expansion of their industrial sectors based on indigenous forces. It is therefore the existing institutional structure within the EU that poses obstacles to convergence. [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]

Reducing corruption is one of the world's many challenges. The fight against corruption is often discouraging. Yet, Europe continues to advance its anti-corruption initiatives. While the fight against has seen some victories, significant gains are few, especially in the Central and South European countries, where corruption is deeply rooted in the ordinary life of their citizens. Indeed, the latest reports from private organizations and public bodies show that no European country is sheltered from corruption. This article discusses some of the latest European developments in the fight against corruption. [ABSTRACT FROM AUTHOR]

The evolution of the Western world has drawn on theoretical structures of classical and neoclassical liberalism for its explanatory support and sources of inspiration for centuries. Against this ideological background, institutionalists aim at showing that growth is a process of transformation, a double change: an economic and an institutional one. In this analysis, our purpose is to highlight the importance of informal institutional arrangements and their quality in explaining the disparities of revenues and developments between countries. In our approach, we will consider several indicators meant to highlight various aspects of research. The approach proposed is a transversal-comparative one and static methods pertain to uni- and multivariate analysis. The results obtained suggest the existence of major differences within the Central and East European area as far as informal institutions are concerned; moreover, the analysis conducted confirms the existence of a significant relation between the level of development and the structure of informal arrangements such as: trust level, bribe culture and corruption control. [ABSTRACT FROM AUTHOR]