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62. Moldova's Convergence with the Acquis - A Pro-Growth and Pro-Integration Strategy
- Author:
- Oxana Gutu
- Publication Date:
- 03-2006
- Content Type:
- Working Paper
- Institution:
- Centre for European Policy Studies
- Abstract:
- The enlargement of the EU and the European Neighbourhood Policy (ENP) have revived the debate in the 'neighbourhood countries' around the need to converge legislation with EU internal rules and regulations, known as the acquis communautaire. The political incentive of accession to the EU, which has driven legal approximation in new EU member states, is missing for ENP countries. Yet, in the case of countries like Moldova, the cost of non-compliance is significant and translates into loss of existing export markets (e.g. in Romania) and the inability to expand into new markets (SEE countries and the EU). The situation is made still worse by a poor level of economic governance. As convergence with the acquis is a huge task, the key challenge for ENP countries is to determine the priorities, sequence and degree of legal approximation. This paper argues that the optimum degree and appropriate pace of convergence need to be driven by economic rationale and the development of the trade potential of the country. Thus, to secure benefits and avoid high costs for the economy, the legal approximation agenda will be moving along clearly identified economic integration scenarios, i.e. achieving a functioning market economy; taking full advantage of EU trade preferences (GSP and APTs), preparing for an FTA with the EU and, over a considerable number of years, gradually achieving a stake in the EU's Internal Market.
- Topic:
- International Relations and International Trade and Finance
- Political Geography:
- Europe, Moldova, and Romania
63. The Food Aid Debate in Trade and Development
- Author:
- Andreas Schneider
- Publication Date:
- 12-2005
- Content Type:
- Policy Brief
- Institution:
- Centre for European Policy Studies
- Abstract:
- It is generally agreed that making progress towards eradicating hunger worldwide is a moral obligation for the richer countries of the world. The instrument known as food aid is widely regarded as an important vehicle for providing assistance to needy countries. However, fresh debates in the present Doha round of WTO negotiations have brought a renewed interest in food aid issues. The Doha round is designed to put development at the centre of trade negotiations, and along with agriculture, to the fore among the contentious issues to be agreed.
- Topic:
- Agriculture, Development, Economics, and International Trade and Finance
64. Is the IMF business model still valid?
- Author:
- Ángel Ubide
- Publication Date:
- 09-2005
- Content Type:
- Policy Brief
- Institution:
- Centre for European Policy Studies
- Abstract:
- Since the Asian crisis, the IMF has undergone a deep process of soul searching, trying to extract lessons from the experience. External criticism has been abundant, and basically all three of the IMF's main areas of work – surveillance, crisis prevention and resolution, and poverty reduction – have been called into question. Several years later, there is a feeling that not much has been achieved, and key questions remain unanswered. As the world business cycle matures, and thus the likelihood of further crises slowly increases, it is critical for the stability of the world financial system to discuss what the IMF's business model should look like.
- Topic:
- Development, Economics, Emerging Markets, and International Trade and Finance
- Political Geography:
- Asia
65. From Bound Duties to Actual Protection: Industrial Liberalisation in the Doha Round
- Author:
- Mohamed Hedi Bchir, Lionel Fontagné, and Sébastien Jean
- Publication Date:
- 11-2005
- Content Type:
- Working Paper
- Institution:
- Centre for European Policy Studies
- Abstract:
- In the background of the Doha Round of trade negotiations, this study proposes a CGE assessment of multilateral liberalisation of market access for non-agricultural products. The scenarios considered include the so-called 'Girard proposal' (with alternative choices for the coefficient involved), the removal of tariff peaks and complete liberalisation. This study is the first to take into account the difference between bound and applied tariffs, while considering all the enforced preferential trade arrangements and computing tariff cuts at the detailed product level (HS-6 classification). Although the liberalisation of market access for non-agricultural products is found to be welfare-enhancing at the world level, cross-country distributive effects prove significant. A soft liberalisation would not significantly reduce applied duties in developing countries, owing to their considerable binding overhang. By contrast, a deep liberalisation would entail fierce price competition among those developing countries that are largely specialised in similar sectors and in the same product quality range.
- Topic:
- Economics, International Trade and Finance, and Treaties and Agreements
- Political Geography:
- Eastern Europe
66. Modelling the Effects of Trade Policy Scenarios on Multifunctionality in Greek Agriculture: A Social Accounting Matrix Approach
- Author:
- Dimitris Psaltopoulos and Eudokia Balamou
- Publication Date:
- 09-2005
- Content Type:
- Working Paper
- Institution:
- Centre for European Policy Studies
- Abstract:
- This paper presents a Social Accounting Matrix (SAM) model for conducting an assessment on the potential impacts of trade agreements on several multifunctionality indicators in Greek agriculture. More specifically, two SAM models were constructed, one for Greece and one for local economy of Archanes (Crete), an agriculturally dependent NUTS IV area, which has demonstrated a noticeable record in terms of the implementation of Pillar 2 policies. Along these lines, five alternative scenarios were specified with regards to anticipated EU policy reactions under different future outcomes of the Doha round negotiations. In broad terms these scenarios range from a status quo (2003 CAP reform) hypothesis to full decoupling, taking also into account the possibility of further reductions in domestic (EU) support as well as developments on Pillar 2 funding. Results suggest that under the scenarios examined, the effects of policy reform upon multifunctionality indicators are rather mixed and surely not extremely worrying. Effects of the status quo scenarios seem to be optimistic in terms of projected economy-wide output and employment at both national and regional level. On the other hand, Scenario 1(bis) generates negative results in terms of farm output and employment (for Archanes), land-use abandonment projections are marginal at the national and rather moderate at the regional level, while environmental repercussions are negative at the national level. The regional analysis has also shown that the impacts of Scenarios 2, 2b and 3 are rather worrying in terms of all categories of projections, with the exception of “Total Output”. Taking account of the specification of Scenario 3, this finding generates rather justified reservations on the “ability” of Pillar 2 policies to ameliorate for economic activity contraction caused by a decrease in Pillar 1 support in Archanes economy.
- Topic:
- Agriculture, Economics, and International Trade and Finance
- Political Geography:
- Europe
67. Impact of Public R Financing on Employment
- Author:
- Jyrki Ali-Yrkkö
- Publication Date:
- 08-2005
- Content Type:
- Working Paper
- Institution:
- Centre for European Policy Studies
- Abstract:
- This study analyses how public R financing impacts the labour demand of companies. To our knowledge, no previous studies have distinguished the impact between a firm's global and domestic employment. Our company-level panel data covers a period from 1997 to 2002. The statistical method employed in the study takes into account the possibility that receiving public support may be an endogenous factor. Our results suggest that public R financing increases both group-level and domestic R employment. We also analysed the impact of public R funding on employment other than in the R area, and found that it is not affected by public funding. It is possible, however, that such funding has an impact in the longer term.
- Topic:
- International Relations, Civil Society, Economics, and International Trade and Finance
68. Hub-and-Spoke or Else? Free Trade Agreements in the Enlarged EU - A Gravity Model Estimate
- Author:
- Luca De Benedictis, Roberta De Santis, and Claudio Vicarelli
- Publication Date:
- 06-2005
- Content Type:
- Working Paper
- Institution:
- Centre for European Policy Studies
- Abstract:
- The aim of this paper is to estimate the effect of the EU's eastern enlargement on the trade patterns of the Central and Eastern European countries (CEECs)1 that joined the EU in May 2004. In particular, the paper investigates whether and how the EU free trade agreements (FTAs) with the CEECs affected centre-peripheral and intra-peripheral trade flows. It also evaluates whether the prospect of joining the EU had the added positive effects on the export flows of the CEECs that had been anticipated.
- Topic:
- Development and International Trade and Finance
- Political Geography:
- Europe and Eastern Europe
69. Economic Effects of Free Trade between the EU and Russia
- Author:
- Pekka Sulamaa and Mika Widgrén
- Publication Date:
- 05-2005
- Content Type:
- Working Paper
- Institution:
- Centre for European Policy Studies
- Abstract:
- This study simulates the economic effects of eastern enlargement of the EU and an EU-Russian free trade area. The main emphasis of the paper is on the effect this would have on the Russian economy. The simulations were carried out with a GTAP computable general equilibrium model, using the most recent GTAP database 6.0 beta, which takes the former Europe agreements between the EU-15 and the eight new Central and Eastern European member states into account. The results confirm the earlier findings that a free trade agreement with the EU is beneficial for Russia in terms of total output but not necessarily in terms of economic welfare when measured by equivalent variation. The main reason behind this is the deterioration that would occur in Russia's terms of trade. Improved productivity in Russia would, however, make the free trade agreement with the EU advantageous.
- Topic:
- Economics and International Trade and Finance
- Political Geography:
- Russia, Europe, and Asia
70. A Gravity Model under Monopolistic Competition
- Author:
- Kari E. O. Alho
- Publication Date:
- 03-2005
- Content Type:
- Working Paper
- Institution:
- Centre for European Policy Studies
- Abstract:
- This paper presents an alternative derivation of the gravity equation for foreign trade, which is explicitly based on monopolistic competition in the export markets and which is more general than previously seen in the literature. In contrast with the usual specification, our model allows for the realistic assumption of asymmetry in mutual trade flows. The model is estimated for trade in Europe, producing evidence that trade flows and barriers do indeed reveal strong asymmetry. We then carry out a simulation, based on the estimated model, of the general equilibrium effects (through trade) of the UK's possible entrance into the economic and monetary union.
- Topic:
- Economics, Emerging Markets, and International Trade and Finance
- Political Geography:
- United Kingdom and Europe