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41. Strengthening European Commercial Diplomacy: Prospects and Challenges

Author:
Andrea Maccanico
Publication Date:
12-2018
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
The EU is involved in economic diplomacy since the establishment of the Single Market and the ensuing negotiations for trade and economic partnership agreements conducted by the EU’s Directorate-General for Trade (DG Trade) for all EU member states (MSs). European economic diplomacy (EED) is a new EU venture that aims to improve the coordination between EU institutions and MSs in an effort to enhance their economic and trade relations and strengthen their ability to compete with major countries such as the US, China and Russia.
Topic:
International Political Economy, International Trade and Finance, Politics, Governance, Institutions, and Trade
Political Geography:
Europe and European Union

42. Enhancing EU–India Connectivity: Towards New Spice Routes

Author:
Patryk Kugiel
Publication Date:
10-2018
Content Type:
Special Report
Institution:
The Polish Institute of International Affairs
Abstract:
The approaches of the EU and India to the connectivity between Asia and Europe largely converge. Both the Union and the country emphasize the importance of maintaining the highest international standards in infrastructure projects, share similar concerns regarding China’s Belt and Road Initiative (BRI), and implement their own ambitious transregional transport projects in their respective neighbourhood. Comprehensive cooperation on connectivity may become a key element of their strategic partnership, help promote regulatory standards, and boost economic cooperation. Better connectivity between Europe and India is also in Poland’s interest.
Topic:
Bilateral Relations, Belt and Road Initiative (BRI), Trade, and Economic Cooperation
Political Geography:
China, Europe, South Asia, India, Poland, and European Union

43. Virtual currencies and their potential impact on financial markets and monetary policy

Author:
Lukasz Janikowski and Marek Dabrowski
Publication Date:
09-2018
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
Virtual currencies are a contemporary form of private money. Thanks to their technological properties, their global transaction networks are relatively safe, transparent, and fast. This gives them good prospects for further development. However, they remain unlikely to challenge the dominant position of sovereign currencies and central banks, especially those in major currency areas. As with other innovations, virtual currencies pose a challenge to financial regulators, in particular because of their anonymity and trans-border character.
Topic:
Science and Technology, Monetary Policy, Economic growth, Currency, and Trade
Political Geography:
Europe, Poland, and European Union

44. Assessing State Support for the Development of International Economic Cooperation: a Case of Polish Trade Support Institutions’ Export Recommendations for Turkey

Author:
Oskar J. Chmiel
Publication Date:
01-2018
Content Type:
Journal Article
Journal:
Polish Political Science Yearbook
Institution:
Polish Political Science Association (PPSA)
Abstract:
In times of increasing significance for national policies which support inter- national economic cooperation, a special role is played by state trade support institutions (TSIs). This paper investigates whether such TSIs can be said to operate effectively, through an analysis of one essential element of the support provided to domestic entrepreneurs, namely export recommendations. The recommendations provided by Polish TSIs in respect of Turkey is employed as a case study. The theory of comparative advantage along with a neo- institutional perspective provide the conceptual framing for this analysis, in conjunction with both desk research, document analysis, and selected economic indices. Factors such as trade potential, comparative advantages, and the competitiveness of selected product groups exported by Polish firms to Turkey were also taken into account. The findings largely indi- cate that TSI export recommendations are adequate, and the majority of the recommended industries demonstrated considerable sales opportunities. Nevertheless, some discrepancies were also noted, which should be an issue for further investigation by both researchers and TSI analysts. Furthermore, the case study in this paper demonstrates that the choices within economic promotion policy – despite its partition between variously-oriented TSIs - were made on the basis of economic rationality.
Topic:
Economics, Nationalism, Trade, and Trade Support Institutions
Political Geography:
Europe and Poland

45. Understanding the Dispute over the Treatment of Products Exported to the European Union from the Occupied Territories in the Context of the Transatlantic Trade and Investment Partnership

Author:
Oskar J. Chmiel
Publication Date:
01-2018
Content Type:
Journal Article
Journal:
Polish Political Science Yearbook
Institution:
Polish Political Science Association (PPSA)
Abstract:
While the European Union (EU) does not recognize any legal Israeli sovereignty over the territories occupied by Israel in 1967, it does not grant preferential access to the EU market for goods produced in the Israeli settlements in this area, contrary to the preferential treatment for goods produced in Israel. This situation is different, however, as regards the United States (U.S.) trade policy, which does not make any distinction between goods pro- duced in Israel and in the Occupied Territories, since it grants the preferential access to both. Furthermore, the currently suspended negotiations of the super-regional trade agreement called the Transatlantic Trade and Investment Partnership (TTIP), spurred the enacting of a law that set the principal negotiating objectives of the U.S. regarding commercial partner- ships, which included some provisions to discourage politically motivated economic actions against the State of Israel. As TTIP embraced the free trade agreement between the EU and the U.S., the EU differentiation policy could become problematic for the two partners, which despite the failure of the negotiations, revealed much about economic diplomacy. Conse- quently, this article attempts to show the different approaches adopted by the two trading powers, in order to deal with the dispute over the treatment of products exported to the EU from the Occupied Territories.
Topic:
Territorial Disputes, European Union, Investment, Trade, and Transatlantic Relations
Political Geography:
United States, Europe, Middle East, Israel, Palestine, and North America

46. Latin America in the Czech Foreign Policy

Author:
Martin Hrabálek
Publication Date:
12-2017
Content Type:
Book
Institution:
Institute of International Relations Prague
Abstract:
Latin America is a distant region. Its political affairs do not play a really important role in the Czech foreign policy in general. The Czech interest in the region is primarily economic, as a number of countries in the region are already quite developed or on the way to becoming developed. The economic ties with Latin America are growing steadily, as is the volume of trade between the Czech Republic and countries in the region. Generally the Czech Republic pursues a rather neutral foreign policy towards Latin American countries, and the events there are unlikely to become subjects of politicization in the Czech Republic or to polarize the Czech political scene. Otherwise, on the part of the Czech Republic, an economically more proactive policy toward Latin America could be identified in 2017, with a growing perception of Latin America as an attractive region for both trade and investments.
Topic:
International Relations, Foreign Policy, Economy, and Trade
Political Geography:
Europe, Latin America, and Czech Republic

47. Potential impact of financial innovation on financial services and monetary policy

Author:
Marek Dabrowski
Publication Date:
07-2017
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
The recent wave of financial innovation, particularly innovation related to the application of information and communication technologies, poses a serious challenge to the financial industry’s business model in both its banking and non-banking components. It has already revolutionised financial services and, most likely, will continue to do so in the future. If not responded to adequately and timely by regulators, it may create new risks to financial stability, as occurred before the global financial crisis of 2007-2009. However, financial innovation will not seriously affect the process of monetary policymaking and is unlikely to undermine the ability of central banks to perform their price stability mission.
Topic:
Energy Policy, Environment, Monetary Policy, Financial Crisis, Economic growth, Innovation, and Trade
Political Geography:
Europe, Global Focus, and European Union

48. Stabilization Policies and Structural Developments: Poland and the Crises of 1929 and 2008

Author:
Zbigniew Polański
Publication Date:
12-2017
Content Type:
Working Paper
Institution:
Center for Social and Economic Research - CASE
Abstract:
This paper contrasts the impact of the 1929 and 2008 world crises on the Polish economy. Her much better performance during the recent crisis can be explained by two groups of factors: first, by very different stabilization policies and second, by distinct structural developments (resulting both from authorities' structural policies and spontaneous processes). It is emphasized that several factors responsible for Poland's superior performance during the 2008 crisis also contributed to her economic success vis-à-vis other European Union countries.
Topic:
Financial Crisis, Economic structure, Economic growth, Global Financial Crisis, and Trade
Political Geography:
Europe, Poland, and European Union

49. The Future Development of EU Exports in a Global Context

Author:
Robert Stehrer, Roman Stöllinger, and Sandra Leitner
Publication Date:
11-2017
Content Type:
Working Paper
Institution:
Center for Social and Economic Research - CASE
Abstract:
Global trade patterns are changing rapidly. Emerging economies are increasing their share of exports overall and intensifying competition in nearly all sectors. Using a gravity-based approach, this report examines the future profile of European Union (EU) world market shares at the aggregate and sectoral level. It further points towards the changing patterns of trade within the EU. Based on the results, some conclusions on EU industrial policy are drawn.
Topic:
Industrial Policy, International Trade and Finance, Global Markets, Economic growth, and Trade
Political Geography:
Europe, Global Focus, and European Union

50. The Relevance of Financial and Economic Factors for Determining Banking Risk across Europe

Author:
Renata Karkowska
Publication Date:
11-2017
Content Type:
Working Paper
Institution:
Center for Social and Economic Research - CASE
Abstract:
The goal of this study is to identify empirically how country-level development, taking into account the financial and macroeconomic environment, affect the risk profiles of the banking sector in Europe. Through a dataset that covers 3,399 European banks spanning the period 1996-2011, and the methodology of panel regression, the empirical findings document the heterogeneity of banking risk determinants. I examine the implications of bank leverage that manifest itself as spreading and growing instability. The study contributes to and combines the different strands of literature and understanding of the importance of the links between the variables. It also contributes to the literature by focusing on a group of countries from Central and Eastern Europe and the Commonwealth of Independent States that have not been studied before. The extended model provides a causal link between risk in the banking sector and the growth of the financial market and macroeconomy. I apply four measures of country-level development that are available in previous studies: share of foreign ownership in the banking sector; the financial freedom index; the real growth rate; and stock market capitalization. Using these measures, I obtain different results which highlight the fact that the effect of macroeconomic and financial development on banking sector risk-taking is ambiguous.
Topic:
Financial Markets, Economic growth, Banks, Trade Liberalization, Macroeconomics, and Trade
Political Geography:
Europe, Eastern Europe, Central Europe, and European Union