Measuring Global Imbalances

2010 ◽  
Vol 213 ◽  
pp. F19-F21
Keyword(s):  
Hong Kong ◽  
Financial Crisis ◽  
World Trade ◽  
Global Imbalances ◽  
Import Penetration ◽  
Member States ◽  
New Member States ◽  
Goods And Services ◽  
Percentage Points

The volume of world trade in goods and services remained some 6 per cent below its pre-crisis peak in the first quarter of 2010, but has rebounded by nearly 10 per cent since the trough reached in the second quarter of 2009. Figure 8 shows the ratio of world trade to world GDP, which plummeted by 3.2 percentage points at the height of the financial crisis. This unparalleled collapse in world trade reflected a decline in import penetration ratios (the ratio of the volume of imports of goods and services to GDP) in all the major economies, with the sharpest falls in several of the EU's new member states, as well as Hong Kong and some oil exporting economies such as Indonesia.

scholarly journals New Measures of Workforce Skills in the EU

2012 ◽  
Vol 220 ◽  
pp. R17-R28 ◽  
Author(s):  
Lili Kang ◽  
Mary O'Mahony ◽  
Fei Peng
Keyword(s):  
Human Capital ◽  
Financial Crisis ◽  
Workforce Training ◽  
Data Series ◽  
Member States ◽  
Skill Levels ◽  
New Member States ◽  
The Us ◽  
Workforce Skills ◽  
The Eu

This paper presents new data series designed to yield a more complete picture of the growth in average skill levels embedded in the EU workforce, comparing with competitor countries such as the US and China. Harmonised data from EU surveys are employed to extend coverage in existing databases to more countries, to cover the period of the financial crisis, and to skills acquired through informal workforce training. The results indicate growth in labour quality in the EU15 marginally below the US, convergence of the group of new member states to the EU15 but no sign of convergence of China to more developed regions. There is evidence of a pronounced rise in labour quality in most countries after 2007, consistent with theories of labour hoarding, but with some notable exceptions. Expanding the conventional measures of labour quality to include informal training leads to small but significant increases in the growth of human capital in some EU15 member states.

scholarly journals New EU member states’ emigration: Projections for future and lessons for the new EU candidates

2020 ◽  
Vol 23 (2) ◽  
pp. 129-140
Author(s):  
Iva Vuksanović Herceg ◽  
Tomislav Herceg ◽  
Lorena Škuflić
Keyword(s):  
Birth Rate ◽  
Gdp Per Capita ◽  
Member States ◽  
New Member States ◽  
Eu Member States ◽  
Percentage Points ◽  
Level Of Economic Development ◽  
Per Capita ◽  
New Eu Member States ◽  
The Eu

AbstractUnlike the old member states that compensate the negative net birth rate with immigration, the new EU member states face both migrational and natural demographic decline. In the last decade, poor level of economic development as well as the accession to the EU encouraged net emigration from the new member states. Panel data for the 12 new member states for the 2007 - 2016 period were used to determine how the length of membership and GDP per capita trailing behind the EU average affect the proportion of the net emigration. It has been shown that on average a country has to reach at least 85 percent of the average EU GDP p.c. (measured in PPS) to prevent emigration, but this level increases with each year of membership by 1.37 percentage points.

Global Prospects and Sources of Economic Growth

2010 ◽  
Vol 212 ◽  
pp. F4-F11
Author(s):  
Dawn Holland ◽  
Ray Barrell ◽  
Tatiana Fic ◽  
Ian Hurst ◽  
Iana Liadze ◽  
...  
Keyword(s):  
Economic Growth ◽  
Hong Kong ◽  
World Trade ◽  
Global Crisis ◽  
Goods And Services ◽  
Global Recession ◽  
Global Demand ◽  
Asian Economies

Global output declined by 1 per cent in 2009, but the pace of recovery has been relatively rapid, especially in economies outside the OECD. We estimate that the level of global GDP regained its pre-crisis peak in the first quarter of 2010 (see figure A3 in the Appendix). The volume of world trade in goods and services remained some 6 per cent below its pre-crisis peak in the first quarter, but has rebounded by nearly 10 per cent since the trough reached in the second quarter of 2009 (see figure A2 in the Appendix). China remains a vital source of global demand. GDP increased by 11.9 per cent year-on-year in the first quarter of 2010, while imports of goods in US$ terms rose by more than 60 per cent over the same period. India also bears little scarring from the global crisis and the economy expanded rapidly throughout 2009. Other Asian economies, such as Taiwan, Hong Kong and Korea, have also recovered rapidly from the global recession, expanding by 6.3, 3.3 and 4.5 per cent, respectively, in the second half of 2009. Outside of Asia, Brazil and Mexico have seen a strong rebound in growth, although the level of output in Mexico remains well below its pre-crisis peak.

scholarly journals The Role of Older People as Consumers - the Comparative Analysis of Old and New Member States of European Union

2012 ◽  
Vol 15 (1) ◽  
pp. 83-101
Author(s):  
Katarzyna Bałandynowicz – Panfil
Keyword(s):  
European Union ◽  
Older People ◽  
Supply And Demand ◽  
Member States ◽  
New Member States ◽  
Goods And Services ◽  
Dynamics Of Population ◽  
Demographic Processes ◽  
Tourism Services

The aim of this paper is to investigate differences between the role of older people as consumers of goods and services in Old and New Member States of European Union. An ageing of society process causes changes in the structure of consumers of goods and services, in size and age respectively and therefore should be comprehensively considered. The consequences of an ageing process have been illustrated with an example of the tourism market. To reach the goal of this paper statistical analysis has been carried out, particularly in order to examine the differences between EU New and Old Member States2 with respect to dynamics of population ageing and characteristics of older customers. Most of the recent scientific literature considering the specific influence of demographic processes on customers behaviour has been reviewed. The key findings prove that an ageing of societies process is significant for each European country. However EU-12 societies are generally younger in comparison to EU-15. On the other hand EU-12 societies are exposed to higher risk of rising dynamics of demographic changes. In a consequence, the increasing role of older people as customers brings also essential changes in relation between supply and demand on each markets. What is highly important, older customers needs are evolving due to their increasing purchasing power, higher education level and better consumers awareness. For instance, these relationships can be observed on tourism services markets where older people are becoming a significant and more attractive group of consumers, due to the level of their tourism expenditures. Moreover, the study described clearly considerable differences between older customers behaviour in EU Old and New Member States: in the purchase frequency of tourism services, in the length of holiday trips and in the level of expenditures. In the subsequent years, a higher homogenisation of purchasing habits of older people in European countries is expected. This paper contributes to the most current European scientific discussions on an importance of older people for a development of economies from the perspective of their impact on goods and services markets. Furthermore, especially in a context of insufficient optimization of companies strategies, which are still directed to a shrinking group of young buyers and the lack of knowledge about changing needs of older customers need to be highlighted and analyzed to bring new solutions for producers, retailers and whole markets.

scholarly journals Interrelation Between Sectoral Growth Rates

2010 ◽  
Author(s):  
Ismail Önden ◽  
Bilal Özer ◽  
Alper Karaağaç
Keyword(s):  
Financial Crisis ◽  
Economic System ◽  
Growth Rates ◽  
Financial Crises ◽  
World Trade ◽  
Cultural Issues ◽  
Economic Sectors ◽  
Goods And Services ◽  
Sectoral Growth ◽  
World Economic

The concept of globalization has arisen from a combination of those developments together with certain political and cultural issues. Economically the term globalization refers to the decrease of borders between states since goods and services, capital, and labour flows from one state to each other easily. This flow makes economic sectors and markets more integrated to each other, and as a result the interaction between them gains significance. With the emergence of the globalization process, commercial borders such as tariffs, restrictions and heavy duties have been cut out or lightened, since the new integrated economic system requires the border-less flow of factors of production. In such a globalized economic system, the growth or contraction of a specific sector in one country can have an effect on another, since markets are inter-connected and world trade is at its highest levels. Similarly, financial crises affect different sectors of different countries at changing levels, as in the case of the recent world financial crisis. Within this context the aim of this study is to observe in what degree the global sectors are in interaction with each other. The first part of the study is constituted of specifying the sectors that are going to be observed such as agriculture, manufacturing, services and finance. Secondary and quantitative sectoral data of the major world economic powers and Turkey have been collected. In the next step the classified sectoral data for different countries or country groups is compared and analysed to represent the sectoral interaction.

Eurasian Economic Union: A sober look

2016 ◽  
pp. 43-60 ◽  
Author(s):  
E. Vinokurov
Keyword(s):  
The State ◽  
Customs Union ◽  
Macroeconomic Policies ◽  
Member States ◽  
Goods And Services ◽  
Eurasian Economic Union ◽  
Ongoing Work ◽  
General Rules ◽  
Economic Union ◽  
Trade And Investment

The paper appraises current progress in establishing the Customs Union and the Eurasian Economic Union (EAEU). Although the progress has slowed down after the initial rapid advancement, the Union is better viewed not as an exception from the general rules of regional economic integration but rather as one of the functioning customs unions with its successes and stumbling blocs. The paper reviews the state of Eurasian institutions, the establishment of the single market of goods and services, the situation with mutual trade and investment flows among the member states, the ongoing work on the liquidation/unification of non-tariff barriers, the problems of the efficient coordination of macroeconomic policies, progress towards establishing an EAEU network of free trade areas with partners around the world, the state of the common labor market, and the dynamics of public opinion on Eurasian integration in the five member states.

On the Future of the Financial Redistribution across Member States in the EU

2006 ◽  
Vol 56 (1) ◽  
pp. 1-43
Author(s):  
Sándor Richter
Keyword(s):  
Value Added ◽  
The Other ◽  
Current Debate ◽  
Member States ◽  
New Member States ◽  
Financial Position ◽  
Cross Member ◽  
Expenditure Structure ◽  
The Eu ◽  
Made In

The order and modalities of cross-member state redistribution as well as the net financial position of the member states are one of the most widely discussed aspects of European integration. The paper addresses selected issues in the current debate on the EU budget for the period 2007 to 2013 and introduces four scenarios. The first is identical to the European Commission's proposal; the second is based on reducing the budget to 1% of the EU's GNI, as proposed by the six net-payer countries, while maintaining the expenditure structure of the Commission's proposal. The next two scenarios represent radical reforms: one of them also features a '1% EU GNI'; however, the expenditures for providing 'EU-wide value-added' are left unchanged and it is envisaged that the requisite cuts will be made in the expenditures earmarked for cohesion. The other reform scenario is different from the former one in that the cohesion-related expenditures are left unchanged and the expenditures for providing 'EU-wide value-added' are reduced. After the comparison of the various scenarios, the allocation of transfers to the new member states in terms of the conditions prevailing in the different scenarios is analysed.

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