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311. 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

312. Knowledge Capital as the Source of Growth

Author:
Hannu Piekkola
Publication Date:
03-2006
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Regional disparities in the growth rates of GDP and total factor productivity (TFP) are a major policy concern in the European Union, not least because of the inclusion of new transition economies in the EU. The growth rate of a nation's TFP especially depends on its level of human capital rather than the increasing rate of human capital. The growth that is driven by innovation and the catching-up process spurred by technology imitation relies on educationbased human capital and related agglomeration. This explains why education provides a permanent advantage, which over time may increase in importance in the labour market.
Topic:
Economics and Treaties and Agreements
Political Geography:
Europe

313. Strategic Implications of the EU Crisis

Author:
Timofei V. Bordachev, Jeffrey Gedmin, and Charles Grant
Publication Date:
02-2006
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
The French and Dutch rejections of the Constitutional Treaty have opened up a period of deep and protracted difficulties for the European Union. The strategic implications of the new situation are compounded by the fact that foreign and security policy was one of the areas in which significant innovations have been provided for by the treaty.
Topic:
Regional Cooperation and Treaties and Agreements
Political Geography:
Europe

314. Taiwan's Rising Rationalism: Generations, Politics, and "Taiwanese Nationalism"

Author:
Shelley Rigger
Publication Date:
01-2006
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
A peaceful, amicable relationship between Taiwan and the People's Republic of China (PRC) is essential to prosperity and security in and beyond the Taiwan Strait. Anticipating the future direction of cross­strait relations is thus very important. But it is also very difficult, not least because key trends in the Strait seem to be headed in opposite directions. On the one hand, the scope and intensity of cross­strait interactions are expanding rapidly, creating shared interests on the two sides and eroding resistance to closer cross­strait ties. On the other hand, popular support for political unification within Taiwan is declining, and the percentage of Taiwan residents who think of themselves as Taiwanese, not Chinese, is rising.
Topic:
Development, Energy Policy, and Environment
Political Geography:
Europe and Taiwan

315. Who finances the Queen's CAP payments? The CAP as a dooH niboR Scheme

Author:
Richard E. Baldwin
Publication Date:
12-2005
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Thanks to the British Freedom of Information Act, the list of all CAP payments to English farms is public. It shows that the CAP is a dooH niboR scheme (that's Robin Hood spelled backwards). Table 1 records the CAP receipts for some of Britain's richest royalty. Why do royalty get paid? The CAP makes payments to farm owners, not to farmers, and about 40% of EU farmland is not farmed by its owner.
Topic:
Development and Economics
Political Geography:
United Kingdom and Europe

316. Technology in a Post-2012 Transatlantic Perspective

Author:
Christian Egenhofer
Publication Date:
11-2005
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The EU and the US have found themselves supporting two polar views on which strategy is the most effective in achieving stabilisation of greenhouse gas (GHG) emissions: 'market pull' vs 'technology push'. As an advocate of the latter, the US asserts that the principal emphasis should be on technology development, financed through typical public R programmes. It argues that it would be preferable to invest in the short term in R and to adopt emissions limitations later, when new technologies will have lowered the cost of limiting GHG emissions. In supporting the 'market-pull' approach, the EU argues that technological change is an incremental process emanating primarily from business and industry, induced by government incentives. According to this logic, profit-seeking firms will respond with technological innovation.
Topic:
Development and Science and Technology
Political Geography:
United States and Europe

317. Capital Adequacy vs. Liquidity Requirements in Banking Supervision in the EU

Author:
Karel Lannoo and Jean-Pierre Casey
Publication Date:
10-2005
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The debate on banking supervision over the last decade has largely focused on capital requirements and solvency of financial institutions. The interaction between solvency and liquidity has been much less debated. Traditionally, it was assumed that once solvency was under control, liquidity should pose no problem. Banks with sufficient capital should be able to obtain extra liquidity from the central bank against adequate collateral if needed. Furthermore, the aim of the New Basel Accord to create a better alignment of regulatory capital with the risk to which banks are exposed, and the stronger focus on diversification, should eventually reduce mismatches between solvency and effective liquidity.
Topic:
Development, Economics, and Emerging Markets
Political Geography:
Europe

318. The New Capital Requirements Directive: What pieces are still missing from the puzzle?

Author:
Rym Ayadi
Publication Date:
09-2005
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
After almost seven years of hard work to produce a new substantive piece of legislation updating the current banking regulation for European credit institutions and investment firms – the Capital Requirements Directive (CRD) – it looks like its timely adoption is still uncertain. The main problem is the dissatisfaction of Parliament with its limited role in comitology and in the Lamfalussy process, which has led it to suspend 'temporarily' the comitology provisions of the CRD, casting doubt over the future ability to amend the legislation. The European Constitution addresses Parliament's concern about ensuring democratic accountability in the comitology process in Art. 36. The pause for reflection on the Constitution prompted by the no-votes in the French and Dutch referenda has re-ignited the issue and is forcing EU institutions to seek a new inter-institutional agreement on this issue.
Topic:
Debt, Economics, and Government
Political Geography:
Europe

319. The EU's Fight against International Terrorism - Security Problems, Insecure Solutions

Author:
Thierry Balzacq and Sergio Carrera
Publication Date:
07-2005
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The investigations on the London attacks of 7 July 2005 have yet to clarify the intricate storyline of the bombings. Yet, the European Union has already set about tightening up its fight against international terrorism through policies that, unfortunately, compound the difficulty of addressing the challenge. The problems arise partly because the policies put forward do not match the diagnosis nor do they fully comply with the principles of legitimacy, proportionality and efficiency. In addition, it is unclear how these Community measures will minimise the lack of trust among member states, which has put the brakes on the implementation of instruments adopted after the Madrid attacks. This relates to the vexed question of the extent to which intergovernmental initiatives such as the Prüm Treaty are compatible with a credible EU policy in the area of terrorism.
Topic:
Security, Human Rights, and Terrorism
Political Geography:
Europe and London

320. Climate Change in the US Government Budget - Funding for Technology and Other Programmes, and Implications for EU-US Relations

Author:
Thomas L. Brewer
Publication Date:
07-2005
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
With increasing Congressional support for funding climate change technology programmes, as reflected in passage of the Hagel/Pryor amendment to the energy policy bill in June 2005, issues about the climate change budget are becoming more salient. In this Policy Brief, Congressional and Presidential actions on several recent budgets are examined for the four principal areas of the climate change budget: technology, science, international and tax credits. The emphasis is on energy technology in particular, because of its salience in current policy discussions and its relative size in financial terms. Highlights of the findings include the following: Congress imposed substantial (63.3%) increases over the administration's climate change technology proposals for 2004 and then small increases for FY2005. For 2006, the administration has proposed reductions compared with the Congressionally-enacted levels in the technology component – reductions in both nominal and inflation-adjusted terms (-4.1% and -5.6%, respectively). The administration has also proposed cuts for fiscal 2006 in the science and international programmes (-2.9 and -19.0% in real terms). These and other differences in Presidential and Congressional approaches to funding climate change programs provide further evidence that the Presidential-Congressional divide on climate policy is continuing to widen. There is an emerging bi-partisan Congressional coalition in favour of increased spending on a wide range of climate change programmes. This shift will affect EU-US relations on climate change issues for the remainder of the current administration until 2008, and beyond as well.
Topic:
Economics and Science and Technology
Political Geography:
United States and Europe