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281. Economic Policy Coordination in the EMU: From Maastricht via SGP to the Fiscal Pact

Author:
Jørgen Mortensen
Publication Date:
08-2013
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
The present paper first takes a step backwards with an attempt to situate the adoption of this Treaty in discussion of the SGP and the “Maastricht criteria” (the criteria for EMU membership fixed in the Maastricht Treaty) in a longer perspective of the sharing of competences for macroeconomic policy making within the EU from the initial Treaty to the Maastricht Treaty and the Stability and Growth Pact (SGP). It then presents the main features of the Fiscal Treaty and its relation to the SGP and draws some conclusions as regards the importance and relevance of this new step in the process of economic policy coordination. It concludes that the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union does not seem to offer a definitive solution to the problem of finding the appropriate budgetary-monetary policy mix in the EMU already well identified in the Delors report in 1989 and regularly emphasised ever since and now seriously aggravated due to the Crisis. Furthermore, the implementation of this Treaty may under certain circumstances contribute to an increase in the uncertainties as regards the distribution of the competences between the European Parliament.
Topic:
Globalization, Treaties and Agreements, Economic Growth, Macroeconomics, Eurozone, Trade, Economic Integration, and Economic Stability
Political Geography:
Europe

282. Is Free Trade with the EU Good for Ukraine?

Author:
Marek Dabrowski and Svitlana Taran
Publication Date:
03-2012
Content Type:
Policy Brief
Institution:
Center for Social and Economic Research - CASE
Abstract:
The negotiations on the Association Agreement (AA) between the European Union (EU) and Ukraine, including its trade component, i.e., the Deep and Comprehensive Free Trade Agreement (DCFTA), were completed in December 2011. The agreement is practically ready to be signed, if the EU’s concerns related to the deteriorating political freedoms in Ukraine are addressed. The ball is now in Ukraine’s court and the correct and rapid response is crucial for the country’s future. Both the AA and the DCFTA offer Ukraine an opportunity to deepen its political and economic relations with the EU and modernize its own economy and state institutions. However, if fundamental economic, political, and institutional reforms are not accelerated and conducted in a more comprehensive and consistent way, the prospect of implementing the DCFTA (and its potential benefits) will come under question.
Topic:
Globalization, European Union, Free Trade, Trade, and Economic Integration
Political Geography:
Europe, Ukraine, and Eastern Europe

283. How to improve the economic and social performance of Eastern and Southern Mediterranean countries

Author:
Luc De Wulf and Marek Dabrowski
Publication Date:
11-2012
Content Type:
Policy Brief
Institution:
Center for Social and Economic Research - CASE
Abstract:
The Eastern and Southern Mediterranean region has many advantages. Its proximity to European markets and its strategic location along the Mediterranean Sea help facilitate the trade of goods among Europe, Asia and Africa. The region has great historical and civilizational importance. It also has plentiful supplies of oil and natural gas resources and great demographic potential. Yet despite these many advantages, the Eastern and Southern Mediterranean region remains relatively backward in economic and social terms and is rightly considered a potential source of social and political instability. In this brief the authors analyze the key challenges facing the MED11 countries and propose policy measures that could improve the region’s economic and social performance.
Topic:
Markets, Macroeconomics, Trade, Economic Integration, and Instability
Political Geography:
Africa, Europe, Asia, and Mediterranean

284. European Neighbourhood Policy: Positive Steps and Open Questions

Publication Date:
06-2011
Content Type:
Special Report
Institution:
Open Society Foundations
Abstract:
In the Joint Communication "A New Response to a Changing Neighbourhood," published on May 25, 2011, the European Commission and the European External Action Service have developed some valuable proposals for improving the European Neighbourhood Policy (ENP). In particular, the Joint Communication includes a stronger emphasis on civil society, more differentiation between countries, and greater political steer. It also contains some elements that formed part of previous policy but had not been fully implemented. Reiterated concepts such as visa liberalization, Deep and Comprehensive Free Trade Areas (DCFTA), Comprehensive Institution-Building (CIB) programs, and tackling regional disparities will only gain traction if the EU applies its conditionality more consistently. The Open Society Institute-Brussels has highlighted the positive steps that EU member states should support in their Council Conclusions in June, and noted those elements that remain open questions.
Topic:
International Political Economy, Regional Cooperation, and Trade
Political Geography:
Europe

285. A Structural, Sectoral, and Product-based Analysis of Turkeys Foreign Trade with European Union Countries (1990-2009)

Author:
Nurullah Altun and Hakan Yavuz
Publication Date:
11-2011
Content Type:
Journal Article
Journal:
Bilgi
Institution:
Sakarya University (SAU)
Abstract:
By being a country that enhanced its foreign trade volume two times between the years 1990-1999 and four times between the years of 2000-2008, Turkey has enhanced its business connection with EU countries approximately three times and this increase was in favor of volume of imports. After 2001 economic crisis, in foreign trade operations which goods for industry sector distinguish particularly, raw materials and consumer goods have been preferred. However, despite these developments, the share of EU countries in Turkeys total foreign trade has been declining proportionately. It can be said that "the zero-problem policy with neighbors" that Turkey has put into effect is likely to have a considerable role in this decline.
Topic:
Trade
Political Geography:
Europe and Turkey

286. Emerging from Crisis: the Mediterranean Neighborhood

Author:
Leonor Coutinho
Publication Date:
01-2011
Content Type:
Working Paper
Institution:
Center for Social and Economic Research - CASE
Abstract:
"The financial crisis engulfed the entire world economy, but the impact was uneven across many regions and countries. Due to a lower degree of financial integration, many developing countries seem to have been far less affected. This apparent resilience has been observed among several of the EU's Mediterranean (MED) neighborhood countries. However, the region's underdeveloped financial markets may yet prove to be a long-term economic curse."
Topic:
Development, Globalization, Financial Crisis, European Union, Macroeconomics, and Trade
Political Geography:
Europe and Mediterranean

287. Sector Policy Convergences in technical rules/standards and customs in Azerbaijan to support EU Eastern Partnership Initiative

Author:
Vugar Bayramov and Tim McNaught
Publication Date:
12-2011
Content Type:
Working Paper
Institution:
Center for Economic and Social Development (CESD)
Abstract:
The overall goal of this paper is to understand how Azerbaijan can converge its Trade and Customs Policy with the European Union to meet the economic integration goals set in the EU Eastern Partnership Initiative in Azerbaijan. More specifically, the paper is interested in harmonizing standardization, Technical Barriers to Trade, and customs legislation with the European Union.
Topic:
European Union, Partnerships, Trade, Standardization, and Customs
Political Geography:
Europe, Azerbaijan, and South Caucasus