Has European monetary union influenced the European Union bank lending flows to the EU countries from Central and Eastern Europe?

2019 ◽  
Vol 11 (2) ◽  
pp. 263-282 ◽  
Author(s):  
Donny Tang
Keyword(s):  
European Union ◽  
Eastern Europe ◽  
Gravity Model ◽  
Stock Markets ◽  
Central And Eastern Europe ◽  
Bank Lending ◽  
The European Union ◽  
Content Type ◽  
Eu Countries ◽  
The Eu

Purpose The purpose of this study is to modify the gravity model to identify the main determinants of the European Union (EU) bank lending to the Central and Eastern Europe (CEE) countries during 1994-2012. Design/methodology/approach This study uses both two-stage least squares and dynamic generalized method of moments to estimate the modified gravity model. Findings This study finds that the CEE countries with more developed stock markets have received the higher EU bank lending inflows. The EU banks have greater access to additional financing in the stock markets. Second, the higher stock market difference between the CEE and EU countries has boosted the EU bank lending. Compared to the developed EU stock markets, the less developed CEE stock markets have become more favorable to the EU banks seeking to earn higher profits. Research limitations/implications The CEE countries can further boost the EU bank lending inflows through deepening capital liberalization. They should facilitate easy foreign bank entry by reducing excessive bank legislations and regulations. Moreover, they can promote the EU bank lending through substantial EU bank integration. This can accelerate the major bank reform which would facilitate better bank supervision and regulations. Originality/value Most previous studies have primarily used the macroeconomic and institutional factors to explain the EU bank lending. In contrast, this study explores the growing importance of the CEE financial development and bilateral trade in explaining the EU bank lending.

scholarly journals THE IMPACT OF OFFSHORING ON THE EUROPEAN LABOUR MARKET

2017 ◽  
Vol 16 (3) ◽  
pp. 35-42
Author(s):  
Jakub Kraciuk
Keyword(s):  
European Union ◽  
Eastern Europe ◽  
Labour Market ◽  
Central And Eastern Europe ◽  
Wage Gap ◽  
The European Union ◽  
Skilled Workers ◽  
Eu Countries ◽  
The Impact ◽  
The Eu

This study shows the differences in wages of workers from the EU countries according to various levels of education. It also shows the level of offshoring in the analysed countries and its impact on the salaries. It was found that the largest wage gap between the high-skilled and the low-skilled workers exists both in the countries of Central and Eastern Europe and in the countries such as Germany and Portugal. Results of the analysis show that offshoring contributes to a decrease in wages of workers in the countries of the European Union. Nonetheless, the highest decrease in wages is visible among workers with the lowest skills, and the lowest decrease can be seen among workers with the highest skills.

scholarly journals The Three Seas Initiative and its Economic and Geopolitical Effect on the European Union and Central and Eastern Europe

2019 ◽  
Vol 22 (2) ◽  
pp. 105-119 ◽  
Author(s):  
Grzegorz Zbińkowski
Keyword(s):  
European Union ◽  
Natural Gas ◽  
Crude Oil ◽  
Eastern Europe ◽  
Energy Security ◽  
Central And Eastern Europe ◽  
The European Union ◽  
Eu Countries ◽  
Oil And Natural Gas ◽  
The Eu

The objective of this paper is a presentation of results of an analysis of the Three Seas Initiative (TSI), whose participating countries (except Austria) treat it as a method of: a) reducing their dependence on crude oil and natural gas imports from Russia, thus increasing their energy security; b) accelerated filling of the persisting civilisation gap between the initiative participants and more developed EU countries owing to the improved quality and maturity of the transport and digital North‑South infrastructure; and c) the actual implementation of the “vision of a Europe whole, free and at peace.” The analysis has assumed the following research hypothesis: The CEE states’ joining the EU has not markedly changed those states’ development, as material differences do still exist in this respect between the new EU states and the old ones, which was verified positively.

scholarly journals Number of clinical trials of new therapeutic agents in the European Union countries of Central and Eastern Europe, 2000–2019

2021 ◽  
Author(s):  
Mikołaj Bartoszkiewicz ◽  
Joanna Kufel-Grabowska ◽  
Maria Litwiniuk
Keyword(s):  
European Union ◽  
Clinical Trials ◽  
Clinical Research ◽  
Eastern Europe ◽  
Central And Eastern Europe ◽  
Phase Iii ◽  
The European Union ◽  
Eu Countries ◽  
Phase Iii Trials ◽  
The Eu

Introduction: The clinical research market of the European Union (EU) countries of Central and Eastern Europe has been experiencing a dynamic growth of clinical trials in the last 10 years. Oncology and cardiology are the areas where the most clinical trials are conducted. Aim: This study aims to analyze the clinical research market including countries, medical fields and trial phases in the EU countries of Central and Eastern Europe. The comparative analysis of countries is divided into 5-year periods. Material and methods: Clinical research market analysis was carried out in 11 EU countries of Central and Eastern Europe: Bulgaria, Croatia, Czechia, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, and Slovenia. In searching for the number of clinical trials, the ClinicalTrials.gov database was used. Results and discussion: From 2000 to 2019, 6497 clinical trials were conducted in the EU countries of Central and Eastern Europe. There were 1840 clinical trials registered in Poland, 1188 in Czechia, and 1005 in Hungary. The most clinical trials were registered in the field of oncology (22%), followed by cardiology (16%) and neurology (12%). Phase III trials representing as much as 60% (n = 2854) of all conducted medical experiments. The highest increase in the number of clinical trials in the last two 5-year periods (2010–2014 and 2015–2019) was recorded in Estonia, at 471%. Conclusions: There has been a significant increase in the number of clinical phase III trials in the EU countries of Central and Eastern Europe, mainly in Poland, Czechia, and Hungary.

1. Introduction

2021 ◽  
pp. 1-11
Author(s):  
Margot Horspool ◽  
Matthew Humphreys ◽  
Michael Wells-Greco
Keyword(s):  
European Union ◽  
Eastern Europe ◽  
Legal System ◽  
Central And Eastern Europe ◽  
Legal Systems ◽  
The European Union ◽  
Member States ◽  
The Eu

This introductory chapter traces the development of the European Union. Since its inception in 1952, the EU has matured and developed from a Community of like-minded states into a Union of a greater diversity of states, with a comprehensive legal system which is increasingly penetrating the national legal systems of Member States. From the six original members, the EU now counts 27 Member States. Eleven of the thirteen newer Member States are in Central and Eastern Europe, and have discarded their old Communist regimes, turning into democracies with the qualifications to join the Union. The latest developments and changes, including Brexit and the effects of Covid-19, are also discussed.

scholarly journals Integration of Ukraine into European Union securities market

2021 ◽  
Vol 69 (2) ◽  
pp. 168-178
Author(s):  
M. Savchenko
Keyword(s):  
European Union ◽  
Stock Market ◽  
Stock Markets ◽  
Rapid Development ◽  
Legal Regulation ◽  
Securities Market ◽  
Stock Exchanges ◽  
The European Union ◽  
Eu Countries ◽  
The Eu

The paper deals with the main parameters of the Ukrainian securities market at the current stage, identifies its functioning problems, gives a set of measures for the effective implementation of Ukraine's desire to integrate the national stock market into the European Union. Compared with the stock markets of the EU countries, the domestic securities market is underdeveloped, poorly regulated and illiquid, therefore there is the need to develop it and implement the European legislative initiatives. The paper covers the basic laws in the field of legal regulation of the Ukrainian and EU securities market. The investigation includes the results of the research of the current experience in leading European countries in terms of capitalization of the largest stock exchanges in Europe. The classification of 5 largest European stock exchanges is given and the influence of COVID-19 virus on their activity is analyzed. The main trends in the field of securities investment market of the largest stock exchanges in Europe and Ukraine are led. While examining statistical data concerning the capitalization of European stock exchanges in comparison with the PFTS of Ukraine in 2019, the LSE (London Stock Exchange) ranks 1st with €3.86 bn., 2nd place is taken by Euronext – €3.4 bn., 3rd place by Deutsche Börse having capitalization volume at the level of €1.9 bn., and PFTS Ukraine – €0.17 bn., which indicates that Ukrainian securities market is insufficiently elaborated. Nowadays, the Ukrainian securities market repeats European historical development trends, and at this stage it largely depends on the directions of development that international stock markets can take. Changes in European securities markets are extremely rapid and require competent response from regulatory structures. The rapid development of the European stock market, accompanied by the emergence of advanced technologies in the field of securities and new financial instruments, make it necessary to monitor all the changes and innovations that happen in the Ukrainian securities market in order to develop more effective recommendations for improving its functioning and regulation. In addition, integration with the European Union requires deeper and more radical reforms of the domestic state administration, macroeconomic regulation, property relations, and anti-corruption policy. Only a large-scale and complete reform will enable progressive renewal and effective, socially responsible integration into the EU countries, taking into account national interests.

1. Introduction

2018 ◽  
Author(s):  
Margot Horspool ◽  
Matthew Humphreys ◽  
Michael Wells-Greco
Keyword(s):  
European Union ◽  
Eastern Europe ◽  
Legal System ◽  
Central And Eastern Europe ◽  
Legal Systems ◽  
The European Union ◽  
Member States ◽  
The Eu

This introductory chapter traces the development of the European Union. Since its inception in 1952 the EU has matured and developed from a Community of like-minded States into a Union of a greater diversity of states, with a comprehensive legal system which is increasingly penetrating the national legal systems of Member States. From the six original members, the EU now counts 28 Member States, after Croatia’s recent accession. Eleven of the thirteen States which have joined in the last decade are in Central and Eastern Europe and have discarded their old Communist regimes, turning into democracies with the qualifications to join the Union.

scholarly journals The transition process and institutions: on the issue of the standard of living in the countries of Central and Eastern Europe — members of the European Union

Baltic Region ◽  
2021 ◽  
Vol 13 (1) ◽  
pp. 153-179
Author(s):  
Igor V. Pilipenko
Keyword(s):  
European Union ◽  
Eastern Europe ◽  
Ownership Structure ◽  
Central And Eastern Europe ◽  
Private Property ◽  
Home Ownership ◽  
Standard Of Living ◽  
The European Union ◽  
Member States ◽  
The Eu

The aim of this article is to adjust the technique of comparing the standard of living in 11 countries of Central and Eastern Europe that became members of the European Union (EU) during 2004-2013 (EU-11) and 15 countries of Western, Northern and Southern Europe – member states of the EU by 1995 (EU-15). We reveal that outright home ownership in the EU-11 countries exceeds on average 75%, while almost two-thirds of households in the EU-15 countries have a mortgage or pay rent spending on housing on average up to one quarter of their income. Despite 30 years of transition to a market economy, the EU-11 countries largely inherited such home ownership structure from the centrally planned economy institutions, i.e. individually-owned and cooperative housing, as well as subsidized state-owned housing stock that became the private property of tenants at the start of market reforms. We propose a technique of taking into account households’ income and housing costs (mortgage and rent) in one indicator given the current home ownership structure in an economy. After the purchasing power parity (PPP) adjustment, our calculations reveal that the standard of living disparities between the EU-11 and EU-15 states are less significant than when compared at nominal prices or PPP alone. Moreover, the disparity in average living standards between these two groups of countries turns out to be narrower than cross-regional differences within seven EU member states at the Eurostat’s NUTS 2 level.

Constitutional and Legal Restrictions in the European Union Countries in the Context of the COVID 19 Pandemic

2020 ◽  
pp. 92-97
Author(s):  
A. V. Kuznetsov
Keyword(s):  
European Union ◽  
Human Rights ◽  
Comparative Analysis ◽  
International Law ◽  
The European Union ◽  
Eu Countries ◽  
European Union Countries ◽  
Legal Restrictions ◽  
Restrictive Measures ◽  
The Eu

The article examines the norms of international law and the legislation of the EU countries. The list of main provisions of constitutional and legal restrictions in the European Union countries is presented. The application of the norms is described Human rights conventions. The principle of implementing legal acts in the context of the COVID-19 pandemic is considered. A comparative analysis of legal restrictive measures in the States of the European Union is carried out.

scholarly journals Changes in Energy Consumption in Agriculture in the EU Countries

Energies ◽  
2021 ◽  
Vol 14 (6) ◽  
pp. 1570
Author(s):  
Tomasz Rokicki ◽  
Aleksandra Perkowska ◽  
Bogdan Klepacki ◽  
Piotr Bórawski ◽  
Aneta Bełdycka-Bórawska ◽  
...  
Keyword(s):  
European Union ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Correlation Coefficient ◽  
Renewable Energy Sources ◽  
Energy Sources ◽  
The European Union ◽  
Eu Countries ◽  
Research Hypothesis ◽  
The Eu

The paper’s main purpose was to identify and present the current situation and changes in energy consumption in agriculture in the European Union (EU) countries. The specific objectives were the determination of the degree of concentration of energy consumption in agriculture in the EU countries, showing the directions of their changes, types of energy used, and changes in this respect, establishing the correlation between energy consumption and changes in the economic and agricultural situation in the EU countries. All member states of the European Union were deliberately selected for research on 31 December 2018 (28 countries). The research period covered the years 2005–2018. The sources of materials were the literature on the subject, and data from Eurostat. Descriptive, tabular, and graphical methods were used to analyze and present materials, dynamics indicators with a stable base, Gini concentration coefficient, concentration analysis using the Lorenz curve, coefficient of variation, Kendall’s tau correlation coefficient, and Spearman’s rank correlation coefficient. A high concentration of energy consumption in agriculture was found in several EU countries, the largest in countries with the largest agricultural sector, i.e., France and Poland. There were practically no changes in the concentration level. Only in the case of renewable energy, a gradual decrease in concentration was visible. More and more countries developed technologies that allow the use of this type of energy. However, the EU countries differed in terms of the structure of the energy sources used. The majority of the basis was liquid fuels, while stable and gaseous fuels were abandoned in favor of electricity and renewable sources—according to which, in the EU countries, the research hypothesis was confirmed: a gradual diversification of energy sources used in agriculture, with a systematic increase in the importance of renewable energy sources. The second research hypothesis was also confirmed, according to which the increase in the consumption of renewable energy in agriculture is closely related to the economy’s parameters. The use of renewable energy is necessary and results from concern for the natural environment. Therefore, economic factors may have a smaller impact.

Sign in / Sign up

Export Citation Format

Share Document