Euro depreciation will boost euro-area external trade

Significance They should confirm that the recovery is on track, with a growth rate similar to that seen in the first quarter. The demand breakdown, due for release on September 4, will allow assessment of the growth contribution from domestic and external demand. Since mid-2014, the euro has weakened significantly against the currencies of the euro-area's two major trading partners, the United Kingdom and the United States. However, whether the depreciation has boosted the euro-area's exports and improved its trade balance remains unclear. GDP data up to the first quarter suggest the opposite, while detailed monthly trade data show that the euro's depreciation has coincided with a recovery in the extra-euro-area exports of several member countries. Impacts The extra-euro-area trade balance will improve further, both for the euro-area as a whole and for most member countries. Changing export volumes will have ripple effects on intra-euro-area trade and, in coming months, also on overall activity. External trade will make a positive contribution to growth in the second half of 2015 and an even stronger one in 2016. China takes too small a share of euro-area exports for its slowdown to affect the area's trade significantly.

2020 ◽  
Vol 22 (3) ◽  
pp. 233-245
Author(s):  
Yasmine Dominguez-Whitehead ◽  
Felix Maringe

PurposeThis paper provides a cross-national analysis of PhD supervision models, milestones and examination procedures in order to compare PhD programs and their practices.Design/methodology/approachA comparative approach is employed, which systematically interrogates PhD supervision models, milestones and examination procedures in the United Kingdom, South Africa and the United States via a comprehensive review of the practices and literature.FindingsThe findings indicate the ramifications of the different approaches and highlight the benefits and drawbacks associated with the different models.Originality/valueBy making explicit the dominant supervision models, milestones and examination procedures that exist in the United Kingdom, South Africa and the United States, the authors shed light on the somewhat obscure path to earning a PhD degree.


2020 ◽  
Vol 31 (2) ◽  
pp. 470-482 ◽  
Author(s):  
Lucas Silvestre de Carvalho ◽  
Nelson Oliveira Stefanelli ◽  
Lilian Carolina Viana ◽  
Diogo de Siqueira Camargo Vasconcelos ◽  
Bruno Garcia Oliveira

PurposeThis paper aims to investigate the main associations between research regarding innovation and green supply chain management (GSCM).Design/methodology/approachFor this the study sought to (1) present the most cited authors in the area; (2) demonstrate the main localities that develop research with this focus; (3) list the main journals with the published research on the themes. The methodology used was a bibliometric survey using the Scopus database as the data source. The VOSviewer® software was used to perform the analysis of the database from the respective DOI® of each article.FindingsAs results of the research, it is possible to demonstrate the existence of an agglomeration of countries that are interrelated in the development of research on these themes, especially China, the United States and the United Kingdom as the main foundations of this center.Originality/valueThis paper evidences the direction of scientific research within the analyzed area, demonstrating where there is convergence for innovation in actions related to GSCM. This guidance may demonstrate possible existing and unexplored gaps so that researchers can direct future research or check gaps to be filled by the development of new processes.


Policy Papers ◽  
2009 ◽  
Vol 09 ◽  
Author(s):  

This paper is part of a broader on-going effort to bring a more cross-country perspective to bilateral surveillance, taking advantage of a cluster of Article IV consultations with five systemically important economies concluded in July. With the five economies—the United States, the Euro area, China, Japan, and the United Kingdom—accounting for two-thirds of global output and three quarters of capital flows, the nature of linkages and consistency of policy responses across the systemic five (S5) has important implications for the world economy.


Policy Papers ◽  
2012 ◽  
Vol 2012 (79) ◽  
Author(s):  

Spillover reports examine the external effects of domestic policies in five systemic economies (S5), comprising China, the Euro Area, Japan, the United Kingdom, and the United States. The report aims to provide an added perspective to the policy line developed in the Article IV discussions with these entities and an input into the Fund’s broader multilateral surveillance. Topics for this report were chosen based on consultations with officials from the S5 and selected emerging markets (Brazil, the Czech Republic, India, Korea, Mexico, Poland, Russia, Saudi Arabia, Singapore, South Africa, and Turkey). Each participant was asked about policy concerns and spillovers from the S5. To facilitate candor, the report does not attribute views regarding partner countries. Rather than try to capture the full range of spillovers, this report builds on last year’s findings, focusing on the forward-looking issues raised by partners and on S5 officials’ reactions.


Author(s):  
Mary Gilmartin ◽  
Patricia Wood ◽  
Cian O'Callaghan

Questions of migration and citizenship are at the heart of global political debate with Brexit and the election of Donald Trump having ripple effects around the world. Providing new insights into the politics of migration and citizenship in the United Kingdom and the United States, this book challenges the increasingly prevalent view of migration and migrants as threats and of formal citizenship as a necessary marker of belonging. Instead the book offers an analysis of migration and citizenship in practice, as a counterpoint to simplistic discourses. It uses cutting-edge academic work on migration and citizenship to address three themes central to current debates: borders and walls, mobility and travel, and belonging. Through this analysis, a clearer picture of the roots of these politics emerges as well as of the consequences for mobility, political participation and belonging in the 21st century.


Subject Denmark's defence policy. Significance Denmark's decision to acquire a new fleet of fifth-generation F-35 stealth joint-strike fighter jets to replace its ageing and non-stealthy fourth-generation F-16s ends a long period of uncertainty around the future of the Danish air force. The purchase of the F-35s will also solidify and deepen Denmark's political-military links to the United States and could open the door for increased cooperation with other northern European countries operating F-35s such as the United Kingdom, the Netherlands and Norway. Impacts The decision will increase the chances of Finland also selecting the F-35 in its upcoming competition to replace its current fleet of F-18s. Participation in future out-of-area operations may be limited, owing to the need to increase the share of the procurement budget. The deal will help solidify Denmark's orientation towards NATO and Washington and away from defence cooperation under the EU.


Significance The government is aligning itself with the emerging international strategy against ISG in Syria. Its push to participate in airstrikes in part reflects a wish to reassert the United Kingdom's role as an international security partner, especially to the United States and France. Impacts The government envisages airstrikes as being needed for at least 12-18 months. The United Kingdom will be important but secondary in the anti-ISG coalition, with the United States continuing to conduct most operations. In the interests of its anti-ISG strategy, the government will temper its insistence on Syrian President Bashar al-Assad stepping down. The risk of an Islamist terrorist attack in the United Kingdom will increase. If Labour leader Jeremy Corbyn comes to be seen as correct in his anti-airstrikes stance, it will further envenom relations on the left.


Subject MiFID II implementation and compliance Significance The EU’s flagship investor protection reform -- the Markets in Financial Instruments Directive II (MiFID II) -- will come into force on January 3, 2018, Valdis Dombrovskis, the EU Commissioner responsible for financial stability, confirmed on October 17, saying that there would not be a further delay. Despite already having been given an extra year's extension, banks are struggling to comply in time because of the directive's complexity. Regulators, too, are behind in expanding their capacity to enforce it. Impacts Firms across the world that do any of their business within the EU will have to comply, not just those registered in the EU. All firms trading in financial instruments must comply but those where this is a small part of their business may be caught unawares. MiFID II will come into effect before the United Kingdom leaves the EU and is likely to be written into UK law post-Brexit. The United States is keen to deregulate, but US firms whose EU activity is not compliant will be punished, possibly harming US-EU relations.


Subject Bond markets outlook. Significance Eurostat today reported that the euro-area economy grew by 0.6% quarter-on-quarter in October-December 2017, and by 2.6% in the whole of 2017, outpacing growth of 2.3% in the United States and 1.8% in the United Kingdom. The yield on benchmark 10-year US Treasury bonds has surpassed the level it reached after Donald Trump’s US presidential election victory when investors positioned themselves for higher growth and prices. The tax bill and modestly rising prices have reinvigorated the ‘trumpflation trade’ of investors shifting from bonds to equities. Signs that the ECB may start withdrawing monetary stimulus faster than expected, coupled with robust global GDP growth, are putting further upward pressure on global yields. Impacts The US treasury secretary’s Davos remarks that a weaker dollar helps US activity could fuel further euro strength, challenging ECB policy. This month’s IMF update upgraded its global growth forecasts but warned of risks, especially asset bubbles and financial vulnerabilities. Global equity fund inflows are surging, fuelling dangerous overvaluations in certain sectors including technology.


Subject Outlook for the Five Eyes alliance. Significance The stability of the Five Eyes intelligence sharing partnership between Australia, Canada, New Zealand, the United Kingdom and the United States is under stress over Chinese participation in the members’ 5G telecommunications networks. Impacts Possible US concessions on the supply chains of Chinese firms would ease strain within the Five Eyes alliance. European corporates will redouble efforts to burnish their security credentials to capture 5G market share. London’s eventual decision on Huawei will influence the EU and Asian democracies.


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