Search

Begin New Search Topic Economics Publishing Institution Centre for European Policy Studies

161. The Trade-Induced Effects of the Services Directive and the Country-of-Origin Principle

Author:
Arjan Lejour, Henk Kox, and Roland de Bruijn
Publication Date:
04-2006
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
The proposed ServicIn March 2004, the European Commission proposed a directive on the internal market in services. Its aim is to boost the EU's internal market in services by reducing regulation-based impediments to trade and investment in services. A previous CPB study The free movement of services within the EU concluded that bilateral trade in commercial services may increase by 30-60 per cent. This equals an increase of total intra-EU trade (i.e. including trade in goods) of 2 to 5 per cent. For foreign direct investment in commercial services the EU proposal may lead to an increase by 20 per cent to 35 per cent.
Topic:
Economics, Regional Cooperation, and Treaties and Agreements
Political Geography:
Europe

162. 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

163. 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

164. 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

165. 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

166. 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

167. 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

168. 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

169. The Real Budget Battle: Une crise peut en cacher une autre

Author:
Richard E. Baldwin
Publication Date:
06-2005
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The failure to reach a budget deal at the June summit may prove a blessing in disguise. The spectacular failure of the European Council to agree the last-minute compromise on the 2007-2013 Financial Perspective generated massively negative media coverage. In the short run, it will create huge difficulties for the EU, but things might have been even worse had they agreed.
Topic:
Economics, International Organization, and Treaties and Agreements
Political Geography:
Europe

170. 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