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11. On Competition in the Banking Sector in Poland and Europe Before and During the Crisis

Author:
Małgorzata Pawłowska
Publication Date:
01-2015
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
In the past decades, the banking sector has come to be known in literature as the banking industry as it was geared to increasing profits, banks were growing, and banking products developed dynamically. It was believed that competition in the banking sector makes banks more efficient and stimulates financial innovation opening new markets. The financial crisis of 2007–2008 has sparked the interest of researchers and politicians in competition in the banking sector and its impact on the stability of the financial sector and overall economic growth. However, researchers cannot agree whether more competition improves or hinders stability. The paper is comprised of three sections and a summary. The first section discusses the concept of competition in the banking sector as well as measures of competition. The second section is a review of literature on competition in the banking sector and its determinants. The third section presents the results of research on competition in the EU, including my own research as well as other research. The paper concludes with a short summary. This publication was presented by Małgorzata Pawłowska during the 134th mBank-CASE Seminar "The global financial crisis: changes in competition in the banking sector in Europe, the role of regulation and intervention by governments and central banks".
Topic:
Financial Crisis, Finance, Economy, Global Financial Crisis, and Banks
Political Geography:
Europe, Poland, and European Union

12. International Investment Law and the European Union: A Reply to Catharine Titi

Author:
Martins Paparinskis
Publication Date:
07-2015
Content Type:
Journal Article
Abstract:
Reasonable people might disagree whether the European Union (EU) is likely to make a significant and commendable contribution to international investment law. This article addresses two issues of relevance for this discussion. First, it considers the appropriateness of evaluating evelopments in international investment law in terms of balance between investor protection and the right to regulate. Second, the contribution of the recent EU practice is briefly examined, finding it less interesting and innovative than one might have expected.
Topic:
International Law, European Union, Regulation, and Finance
Political Geography:
Europe and European Union

13. Has Sweden injected realism into public financial management reforms in partner countries?

Author:
Matt Andrews
Publication Date:
09-2015
Content Type:
Working Paper
Institution:
The John F. Kennedy School of Government at Harvard University
Abstract:
Public financial management (PFM) reform is a common part of many development initiatives. It generally involves promoting "good practices" in developing countries, embedded in frameworks like the Public Expenditure and Financial Accountability (PEFA) assessment (PEFA 2006). These include multi-year budgeting, competitive procurement, modern internal audit, and more. Such practices have proved effective in selected contexts and promise solutions to common problems in governments. Unfortunately, a growing literature shows that many governments do not solve their problems after years of adopting such solutions. Data reveal that governments commonly produce new laws that are not enforced and budgets that are not effectively executed, and suffer from weak capacities in distributed units (like line ministries and local governments) after many finished projects (Andrews 2006, 2011, 2013; Porter et al. 2011; Wescott 2009). Studies tie these limits to a lack of realism in reform design and implementation (Andrews 2013; Andrews, Pritchett and Woolcock 2012; Booth 2011; Levy 2013; World Bank 2012). They argue, essentially, that reforms commonly fail to allow for necessary adaptation of external ideas to the realities in targeted contexts, often because the reform processes focus too narrowly on introducing the external good practice in principle and pay little attention to the practical difficulties of doing so in practice. Studies suggest, for instance, that such reforms pay insufficient attention to the political and administrative difficulties of effecting change, and that these difficulties commonly undermine reform results. Where studies see more effective and far reaching reform they often find that the externally nominated "good practices" are fitted to the targeted context through more adaptive processes that emphasize the real and practical issues of doing reform (like building reform support, testing and adjusting reform designs, and continually matching solutions and capacity realities and needs) (Andrews 2015; Andrews et al. 2014; Cabri 2014; Levy 2013). These studies call for approaches that allow more realism in reform processes in developing countries, especially those supported by multilateral and bilateral donors. They do so knowing that similar calls have been made before; and that there are already many examples of such realism in the development community. There is, however, a challenge to identify these examples and describe what such processes look like in practice. This search leads quickly to a focus on bilateral donors. A small and interesting set of work suggests that such donors might have a comparative advantage in introducing more realism to PFM-type reforms in developing countries, given their own country’s recent experiences with doing such reforms. The argument is simply that development agencies from these countries can leverage the real experiences with doing reform in their own contexts when engaging with reformers in developing countries. They can, for instance, access experienced reformers to share lessons on issues like building demand for change, establishing political support for reform, and adapting reform ideas to context. Such lessons are often learned best through experience and remain tacit in those who have been through the experience. Bilateral agencies arguably have an advantage in accessing such people and their lessons, and can more effectively incorporate this valuable knowledge into their reform support than multilateral agencies. This paper offers a novel analysis of this theory, asking whether Swedish development agencies working in the PFM field have leveraged the potential comparative advantage of the country’s own experience in supporting reform. The country’s own reforms have resulted in effective Sweden-specific adaptations of many of the good practices being promoted in developing countries today (including multi-year budgeting and modern accounting and audit). Academic descriptions of these reforms emphasize the processes by which they were adopted and the realism involved in such, and suggest the presence of many applied and tacit lessons one could see as valuable in developing countries (about testing reform ideas, for example, progressing gradually in reform processes, creating an urgent pressure for change, and building support for reform). The question asked here is whether Swedish development agencies bring these lessons into their support for PFM work, building on a potential advantage to promote realism in reform.
Topic:
Reform, Finance, Economy, International Development, and Institutions
Political Geography:
Europe, Sweden, and European Union

14. Tableau de bord des pays d'Europe centrale et orientale et d'Eurasie 2014 (Volume 1 : Europe centrale et orientale)

Author:
Jean-Pierre Pagé, Jacques Rupnik, Céline Bayou, Edith Lhomel, and Catherine Samary
Publication Date:
12-2014
Content Type:
Special Report
Institution:
Centre d'Etudes et de Recherches Internationales
Abstract:
Le lecteur ne s’étonnera pas de ce que, en 2014, le conflit en Ukraine soit au cœur des préoccupations des pays d'Europe centrale, orientale et de l'Eurasie, même si ses incidences sont diversement ressenties selon les régions considérées. Les pays d’Europe centrale et orientale sont divisés dans leur appréhension politique des événements, et leurs économies ne sont pas directement concernées par les retombées du conflit en Ukraine. On pouvait craindre en revanche qu’elles subissent l’atonie de la zone euro, et son incapacité à retrouver des taux de croissance stimulant la demande extérieure. Cependant – et c’est là une heureuse surprise –, plusieurs d’entre elles ont trouvé la parade en tirant parti des fonds que l’Union européenne leur destine généreusement pour relancer leur demande domestique. Et les effets positifs de cette tactique portent des fruits spectaculaires, d’autant qu’elle se combine avec les incidences de la faible hausse des prix sur le pouvoir d’achat des consommateurs. Il y a là des enseignements à tirer pour la politique économique de l’Europe Occidentale ! Les pays de l’espace eurasiatique sont eux directement aux prises avec les développements du conflit ukrainien. Les incidences en sont multiples : les sanctions et contre-sanctions entre la Russie et l’Union européenne influent grandement sur les économies périphériques, de grands projets comme le gazoduc South Stream sont annulés, les relations des pays d’Asie centrale et du Caucase avec l’Union européenne sont observées avec vigilance par la Russie… La crise ukrainienne, c’est un fait, porte son ombre sur le grand projet de Vladimir Poutine d’instauration d’une Union économique eurasiatique.
Topic:
Economics, International Trade and Finance, Markets, Political Economy, War, Diaspora, Finance, Europeanization, and Regional Integration
Political Geography:
Moldova, Eastern Europe, Poland, Lithuania, Kosovo, Estonia, Serbia, Romania, Macedonia, Hungary, Albania, Croatia, Latvia, Montenegro, Czech Republic, Central Europe, Slovenia, Slovakia, and European Union

15. Tableau de bord des pays d’Europe centrale et orientale et d’Eurasie 2013 (Volume 1 : Europe centrale et orientale)

Author:
Jean-Pierre Pagé, Anne De Tinguy, Jacques Sapir, Julien Vercueil, Hélène Clément-Pitiot, Matthieu Combe, Vitaly Denysyuk, and Raphaël Jozan
Publication Date:
12-2013
Content Type:
Special Report
Institution:
Centre d'Etudes et de Recherches Internationales
Abstract:
Dans le Tableau de bord d’Europe centrale et orientale et d’Eurasie de 2009, nous écrivions que les pays de l’Europe centrale et orientale étaient « touchés mais pas coulés » par la crise mondiale. Quatre ans après, ce diagnostic est toujours valable. Si l’Union européenne reste pour eux un idéal et si l’adhésion à cette union demeure un projet clairement balisé pour les Etats qui n’en sont pas encore membres, celle-ci, engluée dans ses contradictions, paraît trop souvent absente, silencieuse. Aux populations qui lui demandent un meilleur niveau de vie et plus de justice sociale, elle répond par des exigences de réformes et d’austérité et alimente ainsi dangereusement leurs désenchantements. Savoir leur répondre, c’est le défi majeur de l’Union européenne aujourd’hui. Les pays de l’Eurasie, s’ils sont moins directement touchés par la crise de la zone euro et conservent, en conséquence, une croissance nettement plus élevée, ont d’autres préoccupations. Fortement sollicités par la Russie qui entend consolider sa zone d’influence avec la concrétisation de l’Union économique eurasiatique, ils sont aussi l’objet de l’attraction qu’exerce sur eux l’Union européenne – comme en témoignent éloquemment les évènements survenus en Ukraine – et, de plus en plus, la Chine. Cet espace est donc actuellement dans une recomposition qui conditionne les possibilités de son développement.
Topic:
Economics, Energy Policy, Markets, Nationalism, Natural Resources, European Union, Finance, Multilateralism, Europeanization, and Multinational Corporations
Political Geography:
Poland, Lithuania, Kosovo, Estonia, Serbia, Bulgaria, Balkans, Romania, Macedonia, Hungary, Albania, Croatia, Latvia, Montenegro, Czech Republic, Western Europe, Slovenia, Slovakia, European Union, and Bosnia and Herzegovina