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1
Rahutami, A. Ika. "MENJAGA VOLATILITAS NILAI TUKAR: FAKTOR PENDUKUNG PENGEMBANGAN BISNIS DI ASEAN." KINERJA 12, no. 1 (November 8, 2017): 51–64. http://dx.doi.org/10.24002/kinerja.v12i1.1390.
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Currently, economic globalization brings a big impact for business environment in Indonesia. The competition capability is one of requirement to access a broader market. Instead of the manufacture’s competence itself, a conducive macroeconomic condition will support the global competition. If the target of business is a wider market, the stability of currency should be a sustain factor. One of the currency’s risks is exchange rate volatility. The bigger volatility, the bigger risk and unstable condition hence will impede intervention to foreign market. Nowadays ASEAN establish the new integration process after the AFTA trading agreement is not sufficient to construct market and generate a better welfare. AFTA is created for a better and extensive economic integration in 2020 namely ASEAN Economic Community (AEC). Based on more stable economic integration, European Union, it can be concluded that a monetary agreement, moreover the common currency wi l l create more stable economic condition and exchange rate. A heterogeneous economic system, per capita income, economic level, currency and exchange rate among ASEAN countries being a problem for adjustment. This study observes the exchange rate volatility in ASEAN countries. The results of this study showed that the based on the financial integration framework indicator, ASEAN countries require a lot of adjustment that will make a more convergence economic policy to construct financial integration frameworkKeywords : Globalization, AEC, currency volaality, bussines development
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Gladkov, Igor. "FOREIGN TRADE RELATIONS OF THE EUROPEAN UNION IN THE CONTEXT OF INCREASING GLOBAL UNCERTAINTY." Contemporary Europe, no. 100 (December 31, 2020): 59–69. http://dx.doi.org/10.15211/soveurope720205969.
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The article analyzes the competitive positions in the system of modern international trade of the world's largest regional integration community – the European Union (EU), consisting of 28 member countries. The most important trends in the dynamics and geographical structure of the EU's foreign trade relations are considered against the background of increasing global turbulence, as well as in the run-up to the UK's withdrawal from this grouping. Based on actual and statistical data, the author substantiates the claim that the leading integration bloc managed to maintain its leadership in the world commodity exchange in the conditions of increasing global uncertainty due to its well-thought-out foreign trade policy, which includes a number of quite effective tools. According to the author, the experience gained by the EU is undoubtedly of interest for a more detailed study, since during the entire six-year period under review (2014-2019), there were very significant changes in the sphere of world trade, both at the global and regional levels. These include rising tensions caused by the spread of protectionist sentiments among leading actors, the formation of new types of trade alliances, and the use of sanctions against competitors under the guise of untenable rhetoric. However, the current year has brought more large-scale disasters associated with the emergence of a new virus infection of a planetary scale. Such trends have a negative impact on the dynamics of global trade, including foreign trade relations of the European Union.
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Серединський, І. В. "DIRECTIONS OF INTERNATIONAL COOPERATION IN THE FIELD OF TRAINING OF POLICE STAFF." Juridical science, no. 1(103) (February 19, 2020): 244–51. http://dx.doi.org/10.32844/2222-5374-2020-103-1.29.
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The scientific article examines the issues of areas of international cooperation in the field of police training. Emphasis is placed on the best practices of Western Europe, the United States and Canada. At first it was emphasized that in modern conditions there is a rapid development of international relations on the principles of integration and mutual enrichment, and not on the terms of rigid differentiation. It is determined that the interaction is especially evident in the field of international cooperation of European law enforcement agencies. The author found that international police cooperation is carried out in several main areas: 1) assistance in training for foreign law enforcement agencies; 2) joint research of problems of struggle against offenses; 3) exchange of experience in the field of police training; 4) provision of logistical and advisory assistance. Emphasis is placed on the fact that an important factor is the recognition by the international community among other areas and the need for cooperation in the field of personnel training. The author formulates the main directions of international cooperation in the field of police training, in particular: integration into international bodies and organizations in the field of police training; integration into international police educational institutions; integration into the education system of leading foreign educational institutions, study of experience, analysis of the work of structural units, study of the scale of social activity, the field of scientific research, etc .; creating conditions for the development of police education in a particular country with the help of international partners and the experience of foreign countries; provision-receipt on a mutual, and more often on a unilateral basis to foreign colleagues of means of equipment, communication, equipment for use in police training. Finally, it is noted that the most intensive and effective police cooperation is carried out by the police of highly developed countries with similar economic, political and social conditions, similar legal attitudes and principles of law enforcement.
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Білявець, Сергій. "PECULIARITIES OF POLICE PROFESSIONAL TRAINING IN THE EUROPEAN UNION (END OF THE XX - BEGINNING OF THE XXI CENTURY." Збірник наукових праць Національної академії Державної прикордонної служби України. Серія: педагогічні науки 24, no. 1 (April 26, 2021): 17–29. http://dx.doi.org/10.32453/pedzbirnyk.v24i1.627.
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The article presents the results of the analysis of regulatory and scientific sources, which reveal the features of police training for EU countries at the end of the 20th and the beginning of the 21st centuries. It was found that the integration of European states in the second half of the 20th century and the first decade of the 21st century contributed to the fact that the system of police training was changing in accordance with the changes in the political and socio-economic situation in individual EU countries and in the Community as a whole. The police training system itself is part of the integration processes within the framework of the integration of the EU law enforcement and police systems. Features such as the practical orientation of training, its continuous nature, and its close relationship to practice are characteristic of all police training institutions in EU countries. At the same time, EU countries are ambivalent about the innovations proposed by the 1999 Bologna Convention.
States with established educational systems (Austria, Belgium, Cyprus, Denmark, France, Germany, Luxembourg, Malta, the Netherlands, Portugal, Sweden, and the United Kingdom) are more conservative and less inclined to abandon their own educational standards, unlike Eastern European states that pursue radical reform policies, including reforms in police training. In police education programs, a significant number of hours are devoted to the development of skills and abilities to work with scientific and technological means, which are extremely widely used in police work in foreign countries. It was also found that police officers are thoroughly and comprehensively prepared for close interaction of national services, both through Interpol and directly with each other. At conferences, symposiums, seminars, exchanges of experience and delegations, increased attention is certainly given to police training.
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HALYCH, Oleksandr, and Oleh DEMYDKIN. "FEATURES OF INFORMATION SYSTEMS AND TECHNOLOGIES OF PUBLIC MANAGEMENT AND ADMINISTRATION IN THE CONTEXT OF EUROPEAN INTEGRATION PROCESSES." "EСONOMY. FINANСES. MANAGEMENT: Topical issues of science and practical activity", no. 2 (56) (June 29, 2021): 151–66. http://dx.doi.org/10.37128/2411-4413-2021-2-11.
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The article updates the importance of using modern information systems and technologies of public administration and administration in the context of European integration processes. It has been substantiated that the efficiency of the work of authorities at all levels is largely determined by the quality and efficiency of their information and analytical services. The essential-meaningful characteristic of the information system of public administration and administration has been determined by generalizing the views of domestic and foreign scientists. The structure of the information system was defined through the allocation of four main components: means of fixing and collecting information; means of transmitting the relevant data and messages; information storage means; means of analysis, processing and presentation of information. The directions of the functioning of interconnected information systems that ensure electronic interaction of public authorities of different countries in the context of digitalization and globalization of socio-economic relations with representatives of business structures and civil society, allowing to form elements of the "virtual community" and "digital power" as transformed forms of public administration were characterized. Among them are: free movement of information data; expansion of forms of audiovisual communication through the development of modern computer technology; interactivity of modern media tools used in the public administration system; anonymity of collective and individual communication on the Internet; the rapid dissemination of information using modern communications; modern means of forming and transmitting information. The technology of information exchange in the information system of public management and administration in the context of globalization and eurointegration has been formalized. The advantages of information technologies in public administration for the implementation of socio-economic cooperation projects is highlighted, including: creating conditions for the availability of information on significant economic and social issues; strengthening the level of mutual trust in society; strengthening feedback between state and public subjects of public administration relations; creation of innovative forms of public participation in public administration; the formation of sources of transparency in the actions of interacting institutions; ensuring productivity growth of e-government while reducing time and labor costs in information processing and decision-making.
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Zhao, Haipeng, K. Bliumska-Danko, and Xu Lu. "Under the “Belt and Road” initiative, the China and Ukraine governments should assume greater responsibility to promote trade." Bulletin of Sumy National Agrarian University, no. 3(81) (September 30, 2019): 30–39. http://dx.doi.org/10.32845/bsnau.2019.3.6.
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Purpose: Ukraine is located in Eastern Europe, has a good geographical location, and has good bilateral relations and traditional economic exchanges with China, especially agriculture, high-tech, and existing and ongoing cooperation projects with China. "There are also difficulties in construction: Ukraine's economy has been in a difficult period since independence, its economic structure is very uneven, and its economic relations with Eastern European and CIS countries, as well as Russian economic relations, need to be improved. Ukraine needs to restore its national strength. China's "Belt and Road" initiative and the diplomatic concept of building a community of shared future for mankind have determined that the Chinese government is willing to help Ukraine restore its strength and restore normal political, economic, and diplomatic relations with neighboring countries. It will benefit the people through the improvement of the national economy This article aims to analyze how the two sides can use the "Belt and Road" platform to develop economic relations and strengthen cooperation to achieve mutual benefit results.
Methodology: This article uses the literature research method, the combination of analysis and synthesis methods, observation method, investigation method.
Originality: Since the Soviet Union, Ukraine has started friendly exchanges with China. After the founding of New China in 1949, Ukraine, as a part of the Soviet Union, made a greater contribution to China establishment of its national steel, machinery, agriculture and other basic industries. After Ukraine's independence, China-Ukraine relations have entered a new stage. China was the first country to recognize Ukraine's independence and established diplomatic relations with it on January 4, 1992. In the past 30 years of Ukraine's independence, the two countries have not had any conflicts of interest and no serious political and economic contradictions. The "Belt and Road" initiative proposed by Xi Jinping in 2013 provided a new platform for bilateral relations and created unprecedented opportunities for the development of bilateral relations. In the "Belt and Road" construction, Ukraine should play a greater role.
Practical value: Participating in the "Belt and Road" construction is also a very important opportunity for Ukraine, helping the Chinese people to have a more comprehensive and clearer understanding of Ukraine, and more importantly, it is conducive to the trade between the two countries to bring more Ukrainian enterprises Trade exchanges to drive the economic development of Ukraine. Politically, Ukraine and China have good bilateral relations；On June 20, 2011, the two sides signed the "China-Ukraine Joint Partnership on the Establishment and Development of Strategic Partnerships. Economically, Ukraine and China have complementary economies. Economic exchanges have been established since the Soviet Union. In recent years, the existing and ongoing cooperation between Ukraine and China has continued to develop in high-tech fields such as agriculture, machine manufacturing, and aviation. More and more Ukrainian experts have pointed out that developing relations between Ukraine and China should become a priority direction of Ukraine's current foreign policy. Ukraine has a strong advantage in agriculture, military industry, and manufacturing, especially the engine manufacturing industry, and can develop machine manufacturing; Ukraine can provide transportation for China “Belt and Road” Convenient conditions.
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Elbashir, Rania. "LIBYA'S FOREIGN TRADE WITH EUROPEAN UNION COUNTRIES." MEST Journal 10, no. 2 (July 15, 2022): 64–70. http://dx.doi.org/10.12709/mest.10.10.02.07.
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The subject of this empirical and theoretical work is the exchange of foreign trade in Libya with the countries of the European Union. The scientific objective of the research is to make a scientific classification of the volume of foreign trade between Libya and the European Union countries and to discover the factors that hinder foreign trade and explain them scientifically. European countries also support this cooperation and contribute significantly to the formulation of future cooperation policies with Libya in various social, political, and economic fields. However, this cooperation takes place in light of objective difficulties arising from the conflicting interests of Western countries in North Africa and Libya. Since these relations are burdened with many problems of different nature, we started this paper from two assumptions: The first premise is that in the trade relations between Libya and the European Union, there are common interests for foreign trade that are more feasible. The second premise is that more encouragement and protection for investments by the countries of the European Union helps in new qualitative development and economic growth in Libya, which will significantly improve trade relations between Libya and the countries of the European Union.
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Pavliuk, Svitlana. "World and Domestic Experience in Organizing Active Tourism." Modern Economics 28, no. 1 (August 20, 2021): 100–106. http://dx.doi.org/10.31521/modecon.v28(2021)-14.
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Abstract. Introduction. Active recreation tourism is more effective for physical, emotional, intellectual recreation than passive recreation tourism. Active forms of tourism give dosed in terms of volume and intensity of physical activity for participants, which is the main factor in their recreation and effective recovery. Active tourism is becoming an increasingly important segment of the tourism industry. Active tourism includes more and more types of recreational and tourist and tourist and sports activities. It performs several functions - health, prevention, rehabilitation, training, and education. World experience shows that recently the share of active, extreme, and adventure tourism is growing rapidly. Therefore, the study of current trends in the world and domestic experience of organization of active tourism is relevant. Purpose. The article aims to study current trends in the world and domestic experience in the organization and functioning of active tourism. In the long run, this will help improve the tourist image of the country, region, community and increase tourist flows. Results. International practice shows that, at the present stage of the development of economic systems, tourism is the most dynamically developing area. It is also worth noting that international tourism for some developing countries is the main export ofservices and one of theprincipalsources of foreign exchange in these countries; acts as a stabilizing lever for the formation of their budgets and credit and financial relations with other states. At the beginning of the XXI century, international tourism became one of the most important economic activities in the world, and its history begins long before the invention of the word tourist in the late 18th century. According to the Western tradition, organized trips can be found in ancient Greece and Rome, which claim origins as "heritage tourism" (historical monuments of recognized cultural significance) and beach resorts. Analysis of global trends in active tourism shows that there is a growing interest in more extreme travel "nomadic recreation"; familyextreme trips; immersion in the ocean; space travel; micro-trips or weekend tours; extreme-recovery. In response to the growing demand, travel agencies in the European Union offer a wide range of cycling tours, hiking, rafting, diving, sightseeing, and fauna. Analysis of the development of tourism in Ukraine shows that due to the fast pace of life, inactive, addiction to gadgets, more and more tourists today have begun to prefer active recreation. This holiday will be especially interesting for citizens who live in highrise buildings, among the asphalt and want to change their everyday life for a while for the beauty and splendor of nature. Each region of Ukraine has potential opportunities for the development of each type of tourism: hiking, biking, car, water, fishing, hunting, horseback riding, and mountaineering. In recent years, there has been an increasing number ofspecialized tour operators and guides offering relevant services. Also, the network ofspecialized shops, suppliers, points of hire, and service of modern tourist equipment, establishments, various tourist information, maps, guides are expanded. Conclusions. It is claimed, thatthe word demand is growing for active, extreme tourism because humanity is increasingly suffering from overwork and digital dependence. Given that most areas suffer from overtourism new concepts of recreation are becoming increasingly popular, where it is possible to restore inner peace, mental and spiritual condition. In addition, the identity of local culture and the identity of territory have a significant influence on interest among tourists. Ukraine has the potential for the development of active types of tourism. Also, the world experience will help diversify the range of ideas for the development of tourism.
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Alfiyah, Nur Inna, and Very Andrianingsih. "DAMPAK KRISIS EKONOMI YUNANI TERHADAP EUROPEAN ECONOMIC COMMUNITY (EEC)." PERFORMANCE: Jurnal Bisnis & Akuntansi 11, no. 1 (March 31, 2021): 55–62. http://dx.doi.org/10.24929/feb.v11i1.1318.
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Globalization is a phenomenon that cannot be separated from human life, where all international structures and orders change. Easy access to information, technology and the exchange of goods, services and ideology make globalization a very important part. Changing the structure and economic, political and social order at this time requires existing countries to adapt to all changes brought about by globalization. The birth of non-state actors in globalization then brought about its own changes, especially in the economic field. This study aims to explain how the impact of the Greek economic crisis on the European economic community. The method used in this research is a qualitative method with a descriptive approach. The results of this study indicate that the economic interdependence between European countries which has led to the birth of the European Economic Community (EEC) is very influential on one another. This can be seen from how the Greek crisis was able to change the economic policy order of member countries of the European Economic Community (EEC).
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Abimanyu, Yoopi. "Stock Market Integration as a part of Financial Market in the ASEAN Economic Community." Kajian Ekonomi dan Keuangan 19, no. 1 (November 1, 2016): 79–96. http://dx.doi.org/10.31685/kek.v19i1.31.
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This paper is trying to assess whether the stock market in the Association of Southeast Asian Nations (ASEAN) countries, among others Indonesia, Thailand, Singapore, Philippine, Malaysia, and Vietnam, are integrated monthly data from January 2000 until August 2014. To support that analysis, a somewhat similar approached is done for the foreign exchange market in the same ASEAN member countries. The empirical results suggest that the ASEAN stock markets are co-integrated (except Philippines). Also, there is a positive relationship between Indonesia's and other ASEAN member countries' foreign exchange market. Those analysis were done in relationship with the new regional condition, faced by the new government just recently elected, that is, the ASEAN common market, which would be implemented in 2015.
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Wuri, Josephine. "FLUKTUASI KURS VALUTA ASING DI BEBERAPA NEGARA ASIA TENGGARA." EXERO : Journal of Research in Business and Economics 1, no. 1 (November 30, 2018): 1–22. http://dx.doi.org/10.24071/exero.v1i1.1659.
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Recently, the fluctuation of trade among countries in Southeast Asia is very fast, especially with the agreement of the Asean Economic Community (AEC) in 2015. It will establish the economic integration in Southeast Asia. This is expected to reduce the gap among the ASEAN countries. Therefore, the trade among countries also raises the fluctuation of foreign exchange rates. This study aims to analyze the factors that influence foreign exchange rates in several Southeast Asian countries. The secondary data used in this research were taken from the International Financial Statistics published by the International Monetary Fund 2012-2014. The data analysis technique used in this research was panel data regression analysis with Fixed Effect Model. The results showed that inflation and interest rates were variables that affect foreign exchange rates in several Southeast Asian countries. It was known that inflation and interest rates had positive effect on foreign exchange rates. It is also known that the depreciation of rupiah against US dollar was the highest compared to the ones of Ringgit Malaysia and Bath Thailand. Furthermore, the study is expected to give suggestion and information for government in those countries in determining monetary policy to overcome the fluctuation of foreign exchange rates.
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Kajtazi, Kaltrina, and Besnik Fetai. "Does the Remittance Generate Economic Growth in the South East European Countries?" Scientific Annals of Economics and Business 69, no. 1 (March 11, 2022): 57–67. http://dx.doi.org/10.47743/saeb-2022-0004.
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This paper aims to examine the causal relationships between remittances and economic growth in 10 Southeast European developing countries, including Greece as a developed country. The research uses various econometric techniques, such as OLS, fixed-effects model, random-effects model, and Hausman-Taylor IV estimators. The regression results have shown up that there is a positive link between remittances and economic growth in 10 Southeastern European countries. Findings support the hypothesis that the remittance inflows generate economic growth in 10 Southeast European countries. Despite this, a positive relationship is also revealed between foreign direct investment, final consumption expenditure, gross capital formation, exports, and economic growth. The only exchange rate does not have a causal link on economic growth, meaning that the exchange rate does not affect economic growth. Since the remittances have a positive effect on the economic growth, and they represent a large source of external financing in Southeast European countries, the government should implement the right policies to reflect on encouraging and channelizing the remittance inflows for investment purposes, which in turn lead to a reduction of migration and unemployment. The study is original and makes effort to promote the role and significance of remittance inflows in the Southeast European developing countries, including Greece. The findings of the study might be valuable for Governments of these countries and other policymakers to channels remittances for investment purposes.
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Ruda, Victoria. "Emergence and Development of the Foreign Political Dimension of the EU: PreMaastricht Period." European Historical Studies, no. 7 (2017): 6–16. http://dx.doi.org/10.17721/2524-048x.2017.07.6-16.
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Almost from the very outset the development of the common foreign policy and establishing the common defense have been the main aims of the European Community, but the real cooperation in these fields turned out to be quite complex and run into certain obstacles. As part of the European Community, the member states realize the necessity to comply with the common policy in order to become a full-fledged member on the political arena, but this does not take their fears to lose their national sovereignty and to give up some political advantages acquired through either the geographical position or the economic or political and military peculiarities. This explains to a certain extent the complexity of the consensus in searching process between the West European countries in the sphere of the common foreign and security policy. The integration process in Europe was concentrated on the economic cooperation in the first place. Later on the leaders of the West European countries recognized the readiness of the European countries to take a common position on the political and economic aspects of the security and the importance of the foreign policy cooperation in regard to the economic one was for the first time officially admitted. The development of the foreign policy pillar in the pre-Maastricht period clearly distinguished the sphere of competencies of the EU and NATO. The signing of the Single European Act allowed the EU country members to occupy the common position and coordinate their foreign policy. All this allowed the cooperation in the political sphere, which was evolving in two directions: first, conducting the coordinated foreign policy and secondly, ensuring the common security policy with a prospect of establishing the common defense as its separate pillar.
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Yuliadi, Imamudin, and Wahdi Salasi April Yudhi. "Economic Growth Determinants of Asean Economic Community: Feasible Generalized Least Square Approach." E3S Web of Conferences 316 (2021): 01019. http://dx.doi.org/10.1051/e3sconf/202131601019.
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This study aims to analyze the factors determining economic growth in ASEAN countries, which are the ASEAN economic community members as a potential center for world economic growth. The research method applied in this study was a panel data analysis model with a feasible generalized least square approach. The research period was from 2015 – 2019 in all ASEAN member countries: Indonesia, Myanmar, Malaysia, Singapore, Thailand, Laos, Vietnam, Cambodia, Brunei Darussalam, and the Philippines. Testing the data used the Chow and Hausman tests to determine the analysis method: fixed effect, random effect, or common effect. The results of panel data regression estimation with a feasible generalized least square approach uncovered that the variables of the number of the labor force, currency exchange rates, money supply (M1), exports, imports, Gini index, foreign debt, corruption perception index, financial literacy index, and foreign investment (PMA) significantly affected the economic growth of the ASEAN economic community, including develop agriculture sector. Meanwhile, the variables of domestic investment and financing credit did not affect the economic growth of the ASEAN economic community. The conclusion and recommendation from this study’s results are each ASEAN country’s efforts to encourage economic growth by utilizing its comparative advantages and strategic cooperation to create market opportunities and increase the economic efficiency of the ASEAN economic community.
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Assoumou-Ella, Giscard. "Forecasting CEMAC’s foreign exchange reserves in presence of unanticipated changes in oil prices: an interrupted time series modelling." Journal of Central Banking Theory and Practice 8, no. 2 (May 1, 2019): 65–83. http://dx.doi.org/10.2478/jcbtp-2019-0014.
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Abstract The foreign exchange reserves of the Central African Economic and Monetary Community (CEMAC) countries have decreased since the fall of world oil price that began in July 2014. In fact, five of the six of the CEMAC countries are oil producers. Based on interrupted time series modeling, the analysis shows that the unanticipated changes in oil prices immediately led to a decline in the level of their foreign exchange reserves. The trend is also decreasing. The model predicts a continued degradation of these reserves if oil prices remain low. In these conditions, the CEMAC could experience a currency crisis if economic policies implemented in this region do not lead to a return of economic growth.
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Shi, Fangjun. "A Preliminary Research on the Art Exchange Activities Between China and the GDR from 1949 to 1989." Studies in Art and Architecture 1, no. 1 (December 2022): 20–25. http://dx.doi.org/10.56397/saa.2022.12.04.
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After the end of the Second World War, Germany was divided into two parts. The political, economic, cultural, and artistic policies implemented by the German Democratic Republic (also known as East Germany), dominated by socialist ideology, followed the pace of the Soviet Union. At the beginning of the founding of the People’s Republic of China, it maintained friendly and cooperative relations with Eastern European countries such as the GDR. It organized a variety of exchange activities at the cultural level. From the perspective of the sociology of art, this paper discusses the foreign exchange strategies of the founding of China and the Eastern European countries that were also socialist camps, especially the art development of the GDR. At the same time, it sorts out the art exchange activities and interactive trajectories between China and the GDR from 1949 to 1989, thus deepening the understanding of cultural exchanges with foreign countries during the construction of China.
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Sultonov, Mirzosaid. "Regional Economic and Financial Interconnectedness and the Impact of Sanctions: The Case of the Commonwealth of Independent States." Journal of Risk and Financial Management 15, no. 12 (November 29, 2022): 565. http://dx.doi.org/10.3390/jrfm15120565.
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The war in Ukraine and the direct and indirect political, economic and financial involvement of many countries worldwide in this conflict demonstrates the difficult process of developing the new world order. Over 10,000 sanctions have already been imposed on Russia by the United States, the European Union and their allies. Many countries are significantly affected by sanctions regardless of whether they are imposing them, being targeted by them, or have economic and trade partnerships with either—or both—of the sides. Commonwealth of Independent States (CIS) countries have been significantly affected by sanctions related to the Russian–Ukrainian war. Seasonally adjusted real quarterly time series, including gross domestic product and external trade, monthly nominal exchange rate time series, exogenous dummy variables for sanctions, and a combination of the vector autoregressive model and the Granger causality test were used in the estimations. We demonstrate how sanctions have affected the Russian economy and foreign exchange market and how their impact may spill over to the economies and foreign exchange markets of other CIS countries. Based on the research findings and contemporary political and economic conditions in the region and the world, we make suggestions helpful for improving the international economic and trade policies of the CIS countries.
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Ćurčić, Mihailo, Radan Kostić, and Ivica Matejić. "Foreign trade of Serbia and Africa." Odrzivi razvoj 3, no. 2 (2021): 7–21. http://dx.doi.org/10.5937/odrraz2102007c.
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When it comes to defining the foreign trade relations between Africa and the Republic of Serbia, it should be pointed out that our country achieves the least international trade cooperation with the countries of this continent. According to the data of the Parliamentary Budget Office (2018), Serbian foreign trade is mostly focused on Europe, given that as much as 93% of total exports were directed to European countries, and 80% of imports of goods from Europe. The exchange with African countries is almost negligible: on both the import and import side, Africa took part in less than 1% of the total Serbian foreign trade. Infrastructure development accelerates the pace of economic progress, by strengthening more productive activities, and leads to lower costs for conducting internal and external trade.
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Marer, P. "The global economic crises: Impacts on Eastern Europe." Acta Oeconomica 60, no. 1 (March 1, 2010): 3–33. http://dx.doi.org/10.1556/aoecon.60.2010.1.2.
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The global crisis of 2007–2009 can be viewed as three interdependent and mutually reinforcing crises: a financial crisis, a liquidity crisis, and a crisis in the real economy. The ten East European countries that are now EU members were hit first by the global liquidity crisis, then by dramatic declines in capital inflows and plunging demand for their exports. Different impacts among the ten are explained by such factors as their exchange rate regimes, the extent to which households found it advantageous to rely on foreign-currency loans and the appropriateness of fiscal and monetary policies prior to the crisis. Since Western Europe’s recovery and growth are likely to be slow, in the future East European countries will have to rely relatively more on internally-generated sources of productivity growth and enhanced global competitiveness.
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Naeem, Muhammad. "Use of Financial Instruments to Attract Foreign Investment: A Compression of Pakistan and Portugal." Scandic Journal Of Advanced Research And Reviews 3, no. 3 (December 30, 2022): 066–98. http://dx.doi.org/10.55966/sjarr.2022.3.3.0057.
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Development is directly associated with financial development, according to experts, the most efficient way to improve economy is to attract foreign investments. The foreign investment is crucial for a country’s development and growth. Financial instruments are the tools to govern and organize the economic activities of a country especially when it comes to foreign investments. Pakistan was the fastest growing economy of Asia five years prior. According to indicators Pakistan stock exchange was ranked at number 1 in Asia according to economic surveys and financial indicators. The economic performance of Pakistan is incredible. Pakistan was listed the best stock exchange in 2017. Similarly, despite being member of the European Union, Portugal was one of those countries which adopted industrialization very late. After adopting new economic trends and financial instruments, Portugal’s growth was rapid. Hence, the said two countries were the perfect pair to analyze the inclusion and role of financial instruments for attracting investors of growth, economy and international market. Current article was only one of its kind as it was the only study to specifically analyze the two countries on such specific areas. the analysis was done on the basis of available data provided by the governments of both countries to analyze the performance of both economies and the measures taken by both countries to attract the investors. The study gives a brief data of financial instruments being used by both countries and their contribution in attracting the investors.
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Kharel, Suman, Khom Raj Kharel, and Yadav Mani Upadhyaya. "Nepal-India Cross Country Tourists’ Mobility: Socio-Economic Impact." Nepalese Journal of Development and Rural Studies 19, no. 01 (December 31, 2022): 48–58. http://dx.doi.org/10.3126/njdrs.v19i01.51956.
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This study analyzes the economic impact of the mutual tourism relationship between Nepal and India on the economies of both the countries. The main objective of this study is to study the exchange earning due to mutual tourism of both the countries and its effect on the economic development. Its method of study is to fit simple regression models for to analyze the trend of tourism of both the countries by using the use secondary data for this applying descriptive and analytical research design. In the discussion of this study, it is said that mutual tourism in Nepal and India as well as in the world community has helped to raise the country's foreign exchange earnings. Also, this study concludes that there is a positive relationship between tourist arrival and exchange earning. From this, tourism has made a great contribution to the economic development of both the countries. This is further confirmed by economic model R2 and P-value. The study demands more attention should paid for the development of tourism economy in both countries and tourism and travel facilities should improve to excess of tourism economy in Nepal and India.
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Bohdalová, Mária, and Michal Greguš. "COINTEGRATION ANALYSIS OF THE FOREIGN EXCHANGE RATE PAIRS." CBU International Conference Proceedings 2 (June 30, 2014): 147–53. http://dx.doi.org/10.12955/cbup.v2.497.
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Due to certain economic factors, Hungary and Poland—the two Central European (CE) countries—have not successfully adopted the Euro currency. We aim to investigate the dependency of the two CE currencies, HUF and PLZ, against the USD and the linking mechanism between them. Cointegration analysis is commonly used as a common econometric technique for evaluating such efficiency.In this article, we discuss the cointegration analysis of the selected foreign exchange (FX) rate pairs. Using bivariate error correction model (ECM), we investigate spot FX rate pairs of HUF/USD and PLZ/USD. The results from ECM are used in impulse response model for prediction of the new equilibrium after the exogenous shocks affecting the processes at time t.We have found that HUF reacts more closely with the change in USD and that HUF and PLZ are very unlikely to be cointegrated. Nonetheless, we have found the period when both spot exchange rates are weekly cointegrated, which was after August 2011. Although contributions are low, the analytical results are still statistically significant for other researches to be conducted with fractal analysis of these FX rates.
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Grieco, Joseph M. "The Maastricht Treaty, Economic and Monetary Union and the neo-realist research programme." Review of International Studies 21, no. 1 (January 1995): 21–40. http://dx.doi.org/10.1017/s0260210500117504.
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With the Treaty on European Union, or the Maastricht Treaty, into force in November 1993, the member-states of the European Community (EC) appeared to be embarking on a far-reaching enterprise to enhance the authority of Community institutions. Continuing a process that had begun with the Single European Act (SEA), into force in 1987, Maastricht increased the powers of the European Parliament. It established mechanisms whereby EC countries were to seek to improve policy coordination in such diverse areas as social affairs, high technology, border controls, immigration, and anti-crime efforts. It committed the EC members to work toward the establishment of a common foreign and security policy. Most importantly, it laid out a path and timetable for qualified EC members to achieve Economic and Monetary Union (EMU) by the end of the 1990s.
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Bjelic, Predrag. "Model spoljnotrgovinske politike Evropske unije." Ekonomski anali 44, no. 156 (2003): 131–47. http://dx.doi.org/10.2298/eka0356131b.
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When the European Economic Community, the forerunner of the European Union was formed in 1958, it was agreed that the new integration would be a tariff union with common tariffs toward third countries, but also that it would have a common foreign trade policy. As the Union's executive body, the European Commission is responsible for proposing and implementing foreign trade policies. However, the main subject in creating foreign trade policies still remains the Council of Ministers as the EU's main decision-making and legislative body. The Commission negotiates trade agreements with outside countries on behalf of the Union. However, on foreign trade issues the Commission must report to a committee (the "133 Committee"), which assists the Commission in the course of the negotiations and before becoming valid all agreements must be ratified by the Council of Ministers. The Commission ensures that the European Parliament is kept quickly and fully informed at all stages of the negotiation and conclusion of international agreements, in such a way as to enable the Commission to take account of the European Parliament's view, but its role is purely consultative. The EU is trying to establish closer partnership relations with the USA through establishing transatlantic marketplace. However, as the EU is becoming a respectable economic power, an increasing number of trade disputes arise between the EU and the USA. The EU is trying to establish a closer relationship with the European countries since they are candidate countries for EU membership. However, some of them are closer to the membership than others. Therefore the agreements that the EU conclude with certain groups of countries differ among themselves. The EU has special relations with the countries in Africa the Caribbean and the Pacific, former European colonies, that have been granted a preferential treatment allowing preferential trade with the EU. Close relations have been established with countries and regional groups in Latin America as well. The EU has become a significant factor in international economic organizations. However, in order to become an economic power as respectable as the USA and Japan and to give strategic support to its companies in global competition, the EU must integrate politically as well.
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Arize, Augustine Chuck, Ebere Ume Kalu, Chinwe Okoyeuzu, and John Malindretos. "Exchange rate and long-run price relationship in 19 selected European and LDCs." Journal of Financial Economic Policy 12, no. 1 (July 15, 2019): 97–120. http://dx.doi.org/10.1108/jfep-08-2018-0117.
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Purpose This study aims to make a comparative study of the applicability of the purchasing power parity (PPP) in selected less developing countries (LDCs) on one hand and European countries on the other hand. Design/methodology/approach The research design is empirical and ex post facto. This study uses an assortment of co-integration tests and error correction representation. The chosen approach allows for the consideration of long-run elasticities and the dynamics of the short-run adjustment of exchange rates to changes in domestic and foreign prices. Monthly data are used for the period 1980:1 through 2015:12 (i.e. 432 observations). Findings Results from long-run co-integration analysis, short-run error correction models and persistence profile analysis overwhelmingly confirm the validity of PPP in these two sets of countries regardless the disparity in their relative exchange rate and price characteristics. Research limitations/implications Curiously, several of these empirical studies and still many more, have focused their attention on the experiences of industrialized countries, with a few investigations devoted to LDCs. The evidence is even scarcer in Africa. Clearly, the acceptance of any hypothesis as a credible explanation of economic reality hinges on the robustness of the hypothesis across countries with different economic and institutional frameworks. Practical implications Knowledge of the extent to which exchange rate and relative prices can be linked in the long run is important for the design and management of inflation and the implementation of monetary policy. For instance, policy actions aimed at stabilizing the domestic economy can obtain results that are, at best, uncertain in the absence of correct characterization of the PPP dynamics. Moreover, structural and macroeconomic adjustment programs implemented in these countries to achieve economic growth and external competitiveness could be unsuccessful if flawed estimates of PPP exchange rates are retained. Originality/value Several empirical studies have been done to prove the validity or otherwise of the PPP. Unlike prior authors, this study makes a comparative study of the applicability of the PPP in selected LDC on one hand and European countries.
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Jain, Rajendra K. "India and Britain’s First Application to Join the European Community, 1961–1963." India Quarterly: A Journal of International Affairs 77, no. 1 (January 20, 2021): 59–77. http://dx.doi.org/10.1177/0974928420983097.
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The first British application to join the European Economic Community (EEC) in July 1961 came at a time when India confronted an acute foreign exchange crisis and chronic trade deficits and when it was heavily dependent on the UK as a major market. Unlike the widely held belief, this article argues that India engaged Community institutions in a proactive and calibrated manner from the outset till de Gaulle vetoed British membership in January 1963. It highlights the crucial role of the Indian Mission in Brussels and its first ambassador to EEC in efforts to seek redressal of Indian concerns and secure a viable trade arrangement with the Community.
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Gibb, R. A., and W. Z. Michalak. "Foreign Debt in the New East-Central Europe: A Threat to European Integration?" Environment and Planning C: Government and Policy 11, no. 1 (March 1993): 69–85. http://dx.doi.org/10.1068/c110069.
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East-Central Europe (Hungary, Poland, and Czechoslovakia—ECE) is one of the least known parts of the world in English-language geography. In spite of its proximity to Western Europe and the European Community (EC) it has received a very modest amount of attention from English-speaking geographers compared with that from German-speaking and French-speaking colleagues. Studies of political and economic geography of the ECE are also hampered by the lack of appropriate methodology and theory. Some of the most important issues involved lie in the economic sphere of transition from a centrally planned economy to a market economy. In the current paper, an attempt is made to survey and evaluate the size and character of existing debt stocks owed to the West by ECE and then to assess their likely impact on the political and economic geography of Europe and the EC. It is concluded that the international financial community is making it politically difficult for the countries in the region to persist with their structural reforms and stabilization policies. The future political and economic geography of ECE and EC depends, to a large extent, on the ability of the Western financial system to respond to the long-term needs of the region.
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Yakovleva, Nailya. "LATIN AMERICA IN PORTUGAL'S FOREIGN ECONOMIC STRATEGY." Urgent Problems of Europe, no. 3 (2022): 158–83. http://dx.doi.org/10.31249/ape/2022.03.07.
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The article deals with the current and insufficiently explored issue of Portugal's international relations with Latin American countries. It is shown that after a series of crises, the Portuguese economy managed to reach a growth trajectory, change the image of a European outsider and gain the authority in the world community. Special attention is paid to the current stage of structural modernization, the characteristic of which is the innovatization and digitalization of production processes, the development of high-tech industries. The ongoing changes have led to significant edits in the foreign economic strategy of the Portuguese authorities and the transition to an offensive export policy. The growth of the economy, the course towards its internationalization by supporting exports and expanding foreign economic relations have contributed to the intensification of cooperation with other regions of the world, including Latin American countries. It is noted that the Latin American direction is an important element of the foreign policy activities of the Portuguese authorities. Historically, Portugal's relations with the countries of the region have been built in different formats: at the bilateral level and through participation in regional and interregional groupings. In recent years, there has been an increase in the expansion of Portuguese business in Latin America. And although the process of trade development of Latin American markets faces objective difficulties and develops relatively slowly, the region is assigned the role of a promising partner of Portugal in the implementation of the strategy of export diversification, increasing the share of innovative products of high processing in it. It is emphasized that in every Latin American country, Portugal is trying (sometimes very effectively) to find its trade and economic niche. At the same time, Brazil has a special status in Portugal's relations with Latin American partners.
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Cuénoud, Thibault. "Public debt improves the stability of exchange rates in developing countries? The specific case of news European members (2004 and 2007)." Risk Governance and Control: Financial Markets and Institutions 1, no. 2 (2011): 25–44. http://dx.doi.org/10.22495/rgcv1i2art3.
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The aim of this paper is to speak about the current situation in Central and Eastern European countries (CEEC). The majority of them have been entering in European Union in 2004 and 2007. This step has been increasing their international attractiveness and improves their economic growth. However, they must stabilize exchange rate to sustain their foreign direct investment attraction. Two strategies are adopting about the regulation of exchange rate. Bulgarian, Estonia, Latvia, Lithuania Slovenia and Slovakia are entering in Exchange Rate Mechanism 2 (ERM2) to adopt quickly euro currency (it is now the case for Slovenia in 2007, Slovakia in 2009 and Estonia in 2011). Hungary, Poland, Czech Republic and Romania prefer only to stabilize their currency for the moment. Despite the strong economic dynamic of these countries before the Subprime crisis, the impact reveals the incapacity for several of them to improve currencies stabilities. The theoretical approach about Mundell-Fleming trilemma informs the necessity to scarify monetary policy in a context of free financial market and fixed exchange rate. In a reality, the capacity to use fiscal policy appears supplementary indeed more efficient.
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Rudner, Martin. "European Community Development Assistance to Asia: Policies, Programs and Performance." Modern Asian Studies 26, no. 1 (February 1992): 1–29. http://dx.doi.org/10.1017/s0026749x00015912.
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The European Community is distinctive among the donors of international development assistance. Although it is categorized officially as a multilateral aid institution, the Community differs in structure, purpose and role compared to other, more familiar organizations of that genre. Like other multilaterals, the European Community derives its aid budget, as well as its other financial resources, from the fiscal contributions of its Member states (each of which provides its own bilateral assistance to developing countries). Yet, to be sure, the Community represents more than just a multilateral economic union, since it also constitutes a supra-European governmental authority in the making. Indeed, the European Community has begun to evolve a common foreign policy, which is reflected in its role in Official Development Assistance (ODA). Its aid effort, in giving expression to the Community's common international purpose, has taken on most of the attributes of government-to-government assistance. It is this combination of multilateral and quasi-bilateral characteristics that sets the European Economic Community (EEC, as the Community is styled in its ODA role) apart as a uniquely meta-national participant in international development cooperation.
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KURZER, PAULETTE. "Unemployment in Open Economies." Comparative Political Studies 24, no. 1 (April 1991): 3–30. http://dx.doi.org/10.1177/0010414091024001001.
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This article compares variations in the level of unemployment in four small, open economies-Austria, Belgium, the Netherlands, and Sweden. Rather than focusing on the political-institutional differences between these four countries, the article examines international economic variables such as the role of the European Monetary System, the structure of foreign trade, and linkages to international markets to understand the greater deterioration of employment in Belgium and the Netherlands. In turn, the decision to join the European Community and to seek firmer integration into financial markets is attributed to the relatively greater influence of banking capital or the financial sector in the systems of economic policy-making of Belgium and the Netherlands. The article concludes that the detachment of the Austrian and Swedish economies from the European experience in economic integration has greatly helped the Social Democrats in these countries in fulfilling their promises of full employment.
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Mukhametzyanov, Rafail R., Nikolay G. Platonovskiy, Akhmed M. Khezhev, Tatiyana V. Ostapchuk, and Nataliya N. Ivantsova. "Foreign exchange earnings of the countries of the world from international trade in fruit and berry products." Economy of agricultural and processing enterprises, no. 8 (2021): 45–56. http://dx.doi.org/10.31442/0235-2494-2021-0-8-45-56.
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In the context of the modern global financial world order, an important element of the stability of the national monetary unit of the overwhelming majority of countries in the world, especially developing countries, is foreign exchange earnings. For some countries with favorable natural and climatic conditions, the production, processing and export of agricultural products plays a significant role in the overall structure of foreign exchange earnings in the country. The constantly increasing demand from consumers for fruits, berries, nuts and their processed products allows economic entities of national fruit and berry subcomplexes to increase the volume of growing and exporting these types of products. This study analyzes the change in the volume of exports and imports of fruit and berry products in value terms for the period 2010-2019. It is revealed that some states, being the largest exporters of fruits, berries, nuts and products of their processing, occupy significant positions in the import of these types of products from abroad. Based on the author’s calculations, the top 30 countries of the world have been compiled in terms of net foreign exchange earnings from international trade in this type of product. According to this indicator, the first line with a level of $ 7.506 billion was occupied by Spain, while it increased it by $ 1.675 billion over 10 years. As for Russia, despite the counter-sanctions against the countries of the European Union and some other countries of the world, as well as the ongoing policy of import substitution, including in domestic gardening, it continues to be one of the main importers of fruits, berries, nuts and their processing products in the world. Thus, our country supports both foreign producers and other commercial structures that carry out the processes of commodity circulation of fruit and berry products, and the receipt of foreign exchange earnings in these powers.
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Sekongo, N. B. "PROBLEMS OF TRADE AND ECONOMIC RELATIONS OF WEST AFRICAN COUNTRIES WITH THE EUROPEAN UNION, PROSPECTS FOR THEIR DEVELOPMENT." Vestnik Universiteta, no. 3 (May 29, 2020): 102–10. http://dx.doi.org/10.26425/1816-4277-2020-3-102-110.
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The problems of trade and economic relations between West African countries and the European Union have been considered in the article in detail, a brief description of the Economic Community of West African States has been given. The essence of relationships between West Africa and the European Union based on the papers, both foreign and domestic researchers in the field of security, regional economic development and integration etc. has been disclosed. The historical path within the framework of international legal documentation that preceded the signing of the Economic Partnership Agreement has been described. The conducted study was based on the analysis of the cost dynamics of exports, imports and trade balance, their structure has been briefly adduced. The main negative aspects faced by West African countries in connection with the implementation of the Economic Partnership Agreement, in particular tariff restrictions, the ban on the use of export taxes, which undermines the national sovereignty of the Economic Community of West African States, have been revealed. Nevertheless, the signed Agreement will allow West Africa to actively integrate into world trade, improve the economic and demographic situation, while the overall trade tariff will remain at the same level.
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Fatalski, Marcin. "Foreign Policy of the Polish People’s Republic on Mexico 1945-1989." Ad Americam 19 (February 8, 2019): 45–57. http://dx.doi.org/10.12797/adamericam.19.2018.19.04.
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In the period between 1945-1989, Polish-Mexican relations were determined by the Cold War rivalry. Poland remained in the Soviet sphere of influence and its sovereignty was limited by Moscow. Although controlled by the Kremlin, Poland had its own initiatives in foreign policy. Warsaw considered Mexico to be the most important partner in Latin America (not to mention the communist ally, Castro of Cuba), thus Polish diplomacy made many efforts to strengthen mutual political, cultural and economic relations. Mexico, with its independent foreign policy, progressive state ideology and tremendous market, seemed a particularly valuable partner in Latin America to the Polish communist leaders. The climax of Polish diplomatic initiatives occurred in the 1970s. Mexico was also interested in cooperation with Poland, especially in its economic dimension but the result of the efforts was mixed. The poor performance of Polish-Mexican economic relations when compared with the Mexican commercial exchange with other East European countries proves that the efforts of the Polish government in the economic sphere were rather futile. Political relations were good, however geopolitically both countries belonged to different spheres. The special, independent position of Mexico in world politics made such friendly relations possible.
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Okenna, Nwabueze Prince, and Babatunde Moses Adesanya. "International Trade and the Economies of Developing Countries." American International Journal of Multidisciplinary Scientific Research 6, no. 2 (September 4, 2020): 31–39. http://dx.doi.org/10.46281/aijmsr.v6i2.747.
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The economic significance and benefits of foreign trade also known as international trade to the economies of developing countries cannot be overemphasized. Its role and contributions to the gross domestic earnings, employment generation, economic development, and poverty reduction in these underdeveloped countries such as Nigeria, Ghana, Benin Republic, and others have been too glaring especially in agrarian economies with fertile arable land.The main aim of this paper was to examine in-depth the contributions and relationship between international trade and the economic development of developing African countries. Furthermore, this paper recommended stringent macroeconomic policies that when formulated would encourage and increase the multiplier effect of these (foreign) trades. Part of these policies is targeted towards exchange rates, tariffs, import and export duties, subsidies, and actions that promote international trade.The research further concluded that internationaltradeis a key macroeconomic driver that must be encouraged in developing African countries as its multiplier effects have the potentials of driving the needed development goals of these nations. And for this to be achieved, these nations (developing countries) must formulate workable localized macroeconomic policies that suit and drive their interest as against borrowed economic policies from the developed European and Asian nations. Some of the recommendations proffered include adoption of friendly and pro-active export promotion policies, availability of grants, aids, subsidies, and loans, mechanization of the agrarian sector, adoption of flexible exchange rate, etc.This study made use of time series secondary data obtained from the World Development Indicators (WDI) and the United Nations Conference on Trade and Development (UNCTAD) of developing African countries for a period between 2000 and 2019. A forecast of 15 years was also initiated using these data to provide a long-term insight into the benefits of these trading activities on the GDP of developing countries.
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Berrios, Rubén. "Relations between Nicaragua and the Socialist Countries." Journal of Interamerican Studies and World Affairs 27, no. 3 (1985): 111–39. http://dx.doi.org/10.2307/165602.
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Since the Late 1960s, due to détente and rising nationalism in Latin America, the Soviet Union and the Eastern European countries have succeeded in expanding diplomatic relations with most countries in the Western Hemisphere (Blasier, 1984; Fichet, 1981). For an increasing number of Third World nations, the Council of Mutual Economic Assistance (CMEA) countries of Eastern Europe have become a source of trade, credits, technical assistance and political support. Hence, many Third World countries view CMEA agreements as a means of strengthening their negotiating position vis-á-vis the United States and other developed countries. In turn, the CMEA countries have stepped up their commercial activity irrespective of the nature of the governments of the recipient countries. In the case of Latin America, CMEA ability to provide such funding is restrained by their own economic limitations, by geographical distance and by the shortage of foreign exchange. These factors discourage risky commitments in a region that is peripheral to essential security concerns of the CMEA countries.
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Lymar, Margaryta. "European integration in the foreign policy of Dwight Eisenhower." American History & Politics Scientific edition, no. 7 (2019): 27–36. http://dx.doi.org/10.17721/2521-1706.2019.07.27-36.
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The article deals with European integration processes through the prism of the President Eisenhower foreign policy. The transatlantic relations are explored considering the geopolitical transformations in Europe. It is noted that after the end of World War II, Europe needed assistance on the path to economic recovery. Eisenhower initially as Commander in Chief of NATO forces in Europe, and later as the U.S. President, directed his foreign policy efforts to unite the states of Western Europe in their post-war renovating and confronting the communist threat. For that reason, Eisenhower deserved recognition by the leading European governments and became a major American figure, which symbolized the reliable transatlantic ally. Eisenhower’s interest in a united Europe was explained by the need for the United States in a strong single European partner that would help to strengthening the U.S. positions in the international arena. The United States expected to control the European integration processes through NATO instruments and mediated disputes between the leading European powers. Germany’s accession to the Alliance was determined as one of the key issues, the solution of which became the diplomatic victory of President Eisenhower. The U.S. government was building its European policy based on the need to integrate the Western states into a unified power, and therefore endorsed the prospect of creating a European Economic Community (EEC). It was intended that the union would include Italy, France, Germany and the Benelux members, and form a basis for the development of free trade and the deeper political and economic integration of the regional countries. It is concluded that, under the Eisenhower’s presidency, Europe was at the top of priority list of the U.S. foreign policy that significantly influenced the evolution of the European integration process in the future.
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Portugal Duarte, Antonio, and Nuno Baetas Da Silva. "Exchange Rate Synchronization for a Set of Currencies from Different Monetary Areas." Scientific Annals of Economics and Business 69, no. 2 (June 27, 2022): 163–89. http://dx.doi.org/10.47743/saeb-2022-0013.
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The degree of co-movement between currencies remains an important subject for international trade and monetary integration across countries. However, the economic literature has given limited answers about the directional relationships among currencies, and whether they have a leader or a driver. Using the Hodrick-Prescott filter and the wavelet methodology, this paper analyzes exchange rate synchronization for a set of twelve currencies belonging to different monetary areas covering the period between January 1980 and July 2020. The empirical results reveal that: i) the U.S. dollar still plays an essential role as a foreign exchange anchor; ii) the euro shows an out-of-phase relationship with the vast majority of currencies, including with the other European currencies; iii) the British pound seems to have departed significantly from the European single currency; iv) the Brazilian real leads the Chinese yuan for most of the sample, and both currencies record great dissimilarities with the other currencies; v) in the absence of short-term foreign exchange market frictions, average bilateral distances between currencies are smaller, and vi) during the international financial crisis, exchange rates became more synchronized.
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Majone, Giandomenico. "Cross-National Sources of Regulatory Policymaking in Europe and the United States." Journal of Public Policy 11, no. 1 (January 1991): 79–106. http://dx.doi.org/10.1017/s0143814x00004943.
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ABSTRACTBecause events occur too fast and ideas mature too slowly for responses to be designed anew for each pressing problem, policy innovation often relies on pre-existing models, foreign or domestic. This seems to be especially true for regulatory policymaking, since public regulation is typically introduced in conditions of crisis. In this paper we examine several cases of policy innovation in the area of economic and social regulation where the influence of foreign models is quite clear: the development of competition policy in Europe in the 1950s, the growth of European Community regulation, and the impact of the American deregulation movement on the telecommunications policies of different European countries. The analysis shows that while utilization of preexisting models is a common feature of policy innovation, such models are not literally translated into current policy. More or less extensive adaptations to a particular political, institutional and economic context are usually required. We also identify two distinct ways – push or pull – in which foreign models can affect domestic policy.
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Paixão Casaca, Ana Cristina, and Dimitrios V. Lyridis. "Protectionist vs liberalised maritime cabotage policies: a review." Maritime Business Review 3, no. 3 (September 17, 2018): 210–42. http://dx.doi.org/10.1108/mabr-03-2018-0011.
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Purpose The development of the current European economic area maritime cabotage market occurred when, at a policy level, the European Union forced the opening of its member-states cabotage markets to Community shipowners and extended this openness, in 1997, to the european free trade area countries. A two-tier cabotage market emerged, where a European economic area legislative framework co-exists with the legislative acts of each member-state. With such a unique background, this paper aims to investigate both the European economic area member-states and the rest of the world cabotage regimes and identify a list of reasons and policy measures used to implement cabotage policies. Design/methodology/approach By means of a desk research methodological approach, this paper analyses, from a geographical perspective, different countries’ cabotage policies and classifies them, and identifies in a systematically way a set of reasons and policy instruments that support each of chosen policies approach. Findings The outcome indicates that only a few countries promote free liberalised cabotage services and that most countries favour protectionist cabotage policies, whose governments can control the number of foreign vessels participating in these trades. Cabotage regimes have been categorised and the reasons behind both policies and respective policy instruments have been identified. Originality/value Quite often, researchers only focus on the cabotage policies of the European economic area countries, the USA, Australia, Japan and South Korea. This paper value rests on its ability to incorporate cabotage policies from other African, Asian and Latin American countries and to update existing information on the subject. Overall, this paper paves the way to broaden the cabotage knowledge.
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Nikolic, Goran. "Economic determination of Serbian foreign policy: The crucial importance of European integration for economy of Serbia." Medjunarodni problemi 70, no. 1 (2018): 11–27. http://dx.doi.org/10.2298/medjp1801011n.
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The most important part of the economic cooperation between Serbia and the EU, in addition to the inflow of foreign direct investments, loans, remittances (and donations), which predominantly come from the EU countries, is the exchange of goods and services. From 2000 there has been significant growth of trade between Serbia and the EU; merchandise exports and imports increased at double-digit rates over the past 16 and half years. In the same period, the share of EU in Serbian trade has not significantly changed, except for the effects of the three EU enlargement (2004, 2007, 2013), and is almost two-thirds. Having in mind that the countries of CEFTA, excluding Moldova, is likely to join the EU in the next decade, it is clear that the importance of trade with the EU would increase, at least nominally. In the last European Commission staff working document (2016) for Serbia is emphasized that the new government programme included Serbia's EU accession as a priority goal. Besides that, Serbia is only moderately prepared in the area of public administration reform. According to this report, Serbia will need to align its foreign and security policy progressively with the European Union's common foreign and security policy in the period up to accession. The EU is a key strategic partner of Serbia because of its huge global economic, technological and political significance. The EU is not just a very important partner, it is, in a way, a reference point for Serbia, as the modernization of the country, which is a natural priority for Serbian elites, is virtually inseparable from European integration and full membership in the EU.
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Kowalewska, Ewa. "The Role of the Central Bank in Foreign Exchange Inspection in Selected Countries of the European Union – as seen in the Example of Poland, the Czech Republic and Germany." Review of European and Comparative Law 45, no. 2 (June 16, 2021): 183–206. http://dx.doi.org/10.31743/recl.12282.
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The activity of central banks in EU states is based on similar assumptions. Their aim is usually to maintain a stable level of prices and to support the state’s economic policy. Central banks are responsible for issuing money and for monetary policy. They have been equipped with adequate instruments to this end. The aim of this research is to demonstrate that legislation in Poland, the Czech Republic and Germany vested another important function in the central banks, namely foreign exchange inspection. However, this function is exercised differently in each of them. The central banks of countries referred to above are not only responsible for currency in circulation within the country but also for the balance of payments. Also, by pursuing their own foreign exchange policy they ensure an adequate position of the national currency in relation to foreign ones. The foreign exchange inspection in each of these countries is based on a different tradition and at the same time outlines the special role of the central bank. The analysis herein makes it possible to establish the scope of this inspection, taking into account the dynamics of changes that occur on the legal ground. What is also important here is whether a given country is only a member of the European Union or a member of the EU and of the euro area. The adopted research methodology is based on analysis of legislation in force with a reference to views expressed by legal commentators.
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Patrakova, S. S., and S. A. Kozhevnikov. "SPATIAL ORGANIZATIONOF ECONOMIES IN NORTHERN REGIONS: FOREIGN EXPERIENCE." Север и рынок: формирование экономического порядка 68, no. 2/2020 (October 22, 2020): 37–48. http://dx.doi.org/10.37614/2220-802x.2.2020.68.004.
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Quite often, the scientific community emphasizes the need to stimulate spatial development and form the most optimal structure of economic space in order to ensure sustainable and integrated development of territories. Despite the development and complexity of the research methodology, existing models and theories of spatial topics do not fully reflect the real picture of the organization of economic space in various countries of the world. However, it is the joint study of the theoretical and methodological foundations of spatial and regional economics and the study of domestic and foreign experiences of spatial organization that makes it possible to implement a full-fledged transformation of the Russian economy in a spatial context. The purpose of this article is to study the spatial organization of the Northern territories of a number of foreign countries and develop proposals on this basis to ensure the spatial development of the Northern and Arctic regions of the Russian Federation. The research used the monographic method, methods of comparative analysis and synthesis of information obtained, as well as graphical and tabular methods of data visualization. The study found that economic space acquires its actual configuration through distribution across economic agents and settlements and through relationships and communication that occur at the stages of production, distribution, exchange, and consumption. The study of the economic space specificity in the Northern territories of foreign countries helped to identify the main factors and conditions for forming the production and settlement frameworks. Based on the results obtained, the authorsdeveloped proposals aimed at improving spatial organization of the Northern and Arctic territories of the Russian Federation. The nclusions contribute to the development of ideas on spatial organization of territories and can be used in the implementation of government policies in the field of spatial and regional development.
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Zahid, Muhammad, Muhammad Ramzan, Muhammad Zia Ul Haq, Wonseok Lee, Jinsoo Hwang, and Jimin Shim. "The Significance of Monetary Policy Transmission Mechanism in the Sustainable Development of the SAARC Economic Community." Sustainability 13, no. 23 (November 28, 2021): 13171. http://dx.doi.org/10.3390/su132313171.
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The purpose of this study is to examine the monetary policy transmission mechanisms in seven South Asian Association for Regional Cooperation (SAARC) countries to discover the viability of the convergence of the SAARC into a monetary and economic union based on common monetary channels. By employing optimal currency area theory, we used the restricted VAR analysis on the annual data from 1978 to 2017. We find that the money channel response provides proof for the presence of an exchange rate and credit channels. Furthermore, the real sector also responds to changes in fiscal and monetary shocks through the exchange rate and credit channels over short-run to long-run time horizons. This implies that the SAARC is a good candidate due to common exchange rate and credit channels. The function of the variance decomposition and the impulse for forming a monetary and economic union is that they share a coincidental pattern of dynamic reactions of inflation and growth to exogenous shocks. If the SAARC monetary and economic union is created, it will reap overall economic benefits inside and outside of Asia just like the European Union (EU).
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Henama, Unathi Sonwabile. "From Township Tourism, Semigration, and Second-Home Tourism." International Journal of Innovation in the Digital Economy 12, no. 2 (April 2021): 1–17. http://dx.doi.org/10.4018/ijide.2021040101.
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Tourism is disproportionally important for African economies, considering that Africa receives less than 10% of the global tourism receipts. The majority of international travel occurs between the developed world, which means that the positive economic impacts of tourism are shared amongst the developed countries. Tourism has become the number one foreign exchange earner for many countries in Africa, diversifying the economy from either agriculture or mining. Tourism is developed with the intention that it will improve the quality-of-life and standard of living of the local community. The tourism industry has shown sustained growth, and it is regarded as a panacea for the plethora of challenges facing many countries. The structural challenges that face the economy in South Africa require an economic sector that can create immediate employment and catalyse the economy.
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Fengler, Susanne, Marcus Kreutler, Matilda Alku, Bojana Barlovac, Mariella Bastian, Svetlana S. Bodrunova, Janis Brinkmann, et al. "The Ukraine conflict and the European media: A comparative study of newspapers in 13 European countries." Journalism 21, no. 3 (May 15, 2018): 399–422. http://dx.doi.org/10.1177/1464884918774311.
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The crisis in Ukraine was one of the dominant topics in international news coverage of 2014 and the following years. Representing a conflict along the lines of an East-Western confrontation unprecedented since the end of the Cold War, the news reporting in different European countries with different historical backgrounds is an essential research topic. This article presents findings of a content analysis examining coverage of the conflict in the first half of 2014 in newspapers from a diverse set of 13 countries: Albania, Czech Republic, Germany, Latvia, the Netherlands, Poland, Portugal, Romania, Serbia, Switzerland and the United Kingdom, as well as Ukraine and Russia. Drawing on prior literature on news values, key events, and news cycles in foreign coverage, this study maps the evolution of the conflict in the course of four key events and identifies specific characteristics of the coverage in different newspapers. The results show that attention for the conflict varies considerably across the countries, which might be traced back to different degrees of geographical and cultural proximity, domestication, and economic exchange, as well as lack of editorial resources especially in Eastern Europe. Russia dominated the news agenda in all newspapers under study with a constant stream of conflict news. Contradicting prior literature, media sought to contextualise the events, and meta-coverage of the media’s role in the crisis emerged as a relevant topic in many countries with a developed media system.
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Stepanenko, D. A. "RESEARCH OF A FOREIGN EXPERIENCE OF THE INFLUENCE OF CLUSTERIZATION ON THE DEVELOPMENT OF THE REGION." Business Strategies 8, no. 6 (June 28, 2020): 150–52. http://dx.doi.org/10.17747/2311-7184-2020-6-150-152.
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We carried out the analysis of cluster development in EU Member States, based on the reports of the European Center for Research on Clusters and Industrial Change and the European Center for Innovation in Services. We identified directions of support and differences within each direction. In article, we determined the criteria for evaluating clusters by the example of the USA, China, South Korea and other developed countries of the world. We proved that the economic development of regions depends on the effectiveness of the exchange of experience at the cluster level. The study evaluated the results of support for regions in industrial development. We considered the strategies of cluster transformation and made conclusions about introducing a regional aspect as mandatory in the cluster policy of all developed states.
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Латинін, М. А., and Д. В. Іванов. "Foreign experience of state regulation of territories economic potential development." Public administration aspects 7, no. 12 (January 20, 2020): 125–34. http://dx.doi.org/10.15421/151972.
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Foreign experience of state regulation of territories economic potential development has been revealed. The purpose of the article is to study foreign experience of state regulation of territories economic potential development.International practices of using mechanisms and tools of state influence are analyzed. The types of state regulation of territories economic potential development abroad are offered: differentiated (specific to the countries of the European Union based on selective support for increasing the economic capacity of the community), marketing (typical for the countries of North America, which includes the using of branding benefits to implementation of state economic policy) , institutional (specific to countries of Latin America, based on effective collaboration of all stakeholders in local economic capacity building).The general tendencies of state regulation of territories economic potential development abroad are the following:1. The need to understand the modern economy - the determining role of the flow “knowledge” and “ information” (compared to flows “labor-capital”), which creates a global network of ideas. 2. Increasing local capacity and competitiveness - the need to increase local economic potential in industries.3. The basis for the entrepreneurial environment is education and quality training of the labor force.Common features of the implementation of state regulation of territories economic potential development abroad, regardless of the level of development, is that the territories economic potential development is a component of sustainable development of the country and regions with appropriate consolidation in the strategic documents, as well as creating the necessary organizational and institutional support for the state economic policy.The main aspects are becoming the orientation towards the values of the concept of sustainable development, the using benefits of strategic planning, benchmarking and branding of territories, social advertising and institutionalization in order to achieve the main purpose of such influence - increasing the territories economic potential. At the same time, each state forms its own, unique to it approach in accordance with archetypal peculiarities, based on certain generally accepted principles of effective state administration.
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Braveboy-Wagner, Jacqueline A. "The Regional Foreign Policy of Trinidad and Tobago: Historical and Contemporary Aspects." Journal of Interamerican Studies and World Affairs 31, no. 3 (1989): 37–62. http://dx.doi.org/10.2307/165892.
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It is logical to assume that small states focus more attention on the regional, subsystemic or “contiguous” environment (Reid, 1974: 31) than on the broader international system. Given their financial limitations, small states are circumscribed in their ability to influence the international environment but can be effective in the regional context. Even if some small states, by virtue of comparative wealth or ideological commitment, have the capability and inclination to exploit the international environment rather than confine their focus to the region around them, they still find their attention directed, to a large extent, to the immediacy of regional problems and to regional activities that are grounded in social, cultural, political, and economic linkages to the countries nearby. More often than not, economic ties have been formalized in regional integration movements patterned along the lines of the European Community (EC).
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Martino, Antonio. "La Comunità economica europea, a trent’anni dalla Conferenza di Messina*." Journal of Public Finance and Public Choice 4, no. 1 (April 1, 1986): 103–7. http://dx.doi.org/10.1332/251569298x15668907117345.
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Abstract The reason legitimating the existence of a political institution is the one that some decisions cannot be taken so efficiently at a different decision level. Basically, the countries taking part into the Conference held in Messina on June 1954 had a special interest in the provision of two «European public goods»: political union (requiring common defense and a common foreign policy) and economic advancement (through a common monetary policy and free trade). The actual crisis in the European Community is due to the fact that both these «public goods» are now out of sight. To overcome the actual difficulties, Member States should return to the «spirit of Messina».