scholarly journals The foreign trade liberalization and export of agri-food products of Serbia

2017 ◽  
Vol 63 (No. 7) ◽  
pp. 331-345 ◽  
Author(s):  
Matkovski Bojan ◽  
Lovre Koviljko ◽  
Zekic Stanislav
Keyword(s):  
Foreign Trade ◽  
Trade Liberalization ◽  
Food Products ◽  
World Market ◽  
Trade Association ◽  
The European Union ◽  
Positive Effects ◽  
Econometric Methods ◽  
European Free Trade Association ◽  
Comparative Advantages

Liberalization of the market, as a consequence of the achieved trade agreements with the members of the European Union and the Central European Free Trade Association, had a significant effect on the foreign trade exchange of the Serbian agri-food products. In order to determine the liberalization effects on the export of agri-food products of Serbia, a gravity model of the export of these products is estimated using econometric methods for the panel data. In order to find the sections, as well as the advantageous parts of the international market, the comparative advantages of agri-food products in the particular groups of countries are dynamically analysed using the index of the revealed comparative advantages, whereas the level of specialization in the international trade exchange of these products is analysed using the index of the intra-industry trade. In relation to the main objective of the article, which was to identify the effects of the foreign trade liberalization on the performances of the foreign trade in agri-food products, it may be stated that liberalization had positive effects on the intensification of foreign trade with the analysed group of countries, as well as on the increase of the revealed comparative advantages of the agri-food sector in the world market.

scholarly journals ‘Products mapping’ and trade in agri-food products between Nigeria and the EU28

2020 ◽  
Vol 66 (No. 1) ◽  
pp. 34-45
Author(s):  
Nahanga Verter ◽  
Ivo Zdráhal ◽  
Věra Bečvářová ◽  
Libor Grega
Keyword(s):  
Trade Balance ◽  
Food Products ◽  
World Market ◽  
Value Chains ◽  
The European Union ◽  
The World ◽  
Comparative Advantages ◽  
Food Value ◽  
Balance Index ◽  
Balassa Index

This paper investigates the dynamics of comparative advantage in agri-food products between Nigeria and the European Union (EU28). Using ‘products mapping’ approach based on trade balance index (TBI), Balassa index (BI), Lafay index (LFI) and other descriptive approaches, the findings show that Nigeria substantially recorded adverse TBI in trading both with the world and the EU28. The share of total Nigerian food exports and imports which the EU28 accounted for, declined from 72% and 40% to 37% and 27% between 1995 and 2017, respectively. The findings of both BI and LFI reveals that between 1995 and 2017, Nigeria’s comparative advantages in trading in the world market declined from 12/46 to 8/46 food products. Similarly, Nigeria’s trade with the EU28 comparative advantages reduced from 12/46 to 9/46 food products. Inversely, the food products that Nigeria has comparative disadvantages and negative TBI in trading with the EU28 rose from 31/46 to 35/46. For Nigeria, to boost its exports and competitiveness, especially in products that the country has natural advantages in producing, there is an urgent need for increasing investment and implementing policies on domestic agricultural and food value chains.

scholarly journals Comparative advantages in Polish export to the European Union — food products vs selected groups of non-food products

2018 ◽  
Vol 9 (2) ◽  
pp. 287-308
Author(s):  
Iwona Szczepaniak
Keyword(s):  
European Union ◽  
Foreign Trade ◽  
Value Added ◽  
Food Products ◽  
The European Union ◽  
Food Sector ◽  
Eu Countries ◽  
Comparative Advantages ◽  
Research Period ◽  
The Eu

Research background: Globalisation and economic integration are the reasons for which the competitiveness of economic entities is analysed more and more often in the context of their relations with the international market. One of the ways to assess the competitiveness of the Polish food sector is an analysis of comparative (relative) advantages in the export of this sector’s products. Purpose of the article: The objective of this paper is to assess comparative advantages in Polish export of food products to the European Union against a background of selected groups of non-food products. Methods: The study used the B. Balassa’s revealed comparative advantage (RCA) index. The study is preceded by a brief review of foreign trade results. The source of data was the WITS-Comtrade commercial database. The analysis was carried out at the level of the HS sections (in commodity terms). The research period covered the years 2003–2015. Findings & Value added: In the years 2003–2015, export of food increased nearly six times and its import — more than 4.5 times. The major partners of Poland as regards trade in food were the EU countries. The food sector was one of few sectors of the economy with the positive trade balance. Polish export to the EU was characterised by a diversified level of comparative advantages. From among 20 HS sections, in 2015 Poland had comparative advantages in export to the EU countries for products from 10 sections (2 food and 8 non-food). Those products accounted for 11% and 70% of Polish export to the EU, respectively. The development of Polish foreign trade in food products during the Polish membership in the EU as well as fairly high comparative advantages in the export of these products to the EU indicate the competitiveness and significant importance of the Polish food sector for the national economy.

scholarly journals Changes in comparative advantages of the Polish food sector in world trade

Equilibrium ◽  
2019 ◽  
Vol 14 (3) ◽  
pp. 463-480
Author(s):  
Iwona Szczepaniak
Keyword(s):  
European Union ◽  
Value Added ◽  
Food Products ◽  
World Market ◽  
Global Market ◽  
The European Union ◽  
Food Sector ◽  
Positive Balance ◽  
Comparative Advantages ◽  
The Eu

Research background: The period after Poland's accession to the European Union is a period of systematic development of Polish foreign trade in food products. Positive changes were visible already in the first year, but trade turnover and the balance of food exchange were even more dynamic in the subsequent years of Poland's membership in the EU. Purpose of the article: One way to assess the competitiveness of Polish food sector is the analysis of comparative advantages (relative) in the trade of products of this sector. So the aim of the presented research is to assess the comparative ad-vantages of the Polish food sector (including its most important chapters). Methods: The analysis of comparative advantages was based on relative trade advantage index (RTA) and the Lafay trade balance index (TBI). The analyses cover the years 2004–2017. The data source was the WITS-Comtrade trading database, in which trade flows are expressed in USD. The analysis was carried out at the HS chapter level. Findings & Value added: The analysis of comparative advantages in the Polish trade in food products showed that during the membership in the European Union Poland had relative comparative advantages in the food trade on the world market. In the years 2004–2017 Polish export in agri-food products increased more than 4.5 times and the positive balance of trade in these products increased more than 9.0 times. Products in trade of which Poland had comparative advantages in 2017 accounted for 55.5% of trade of the Polish agri-food sector in the global market, i.e. by 12.8% more than in the year of accession of Poland to the EU. The dynamic development of trade in food products after Poland's accession to the EU, as well as significant comparative advantages in trade in these products, testify to the competitiveness and high importance of the Polish food sector for the national economy.

scholarly journals Comparative advantages in Polish export to the European Union — food products vs selected groups of non-food products

2018 ◽  
Vol 9 (2) ◽  
pp. 287-308
Author(s):  
Iwona Szczepaniak
Keyword(s):  
European Union ◽  
Foreign Trade ◽  
Value Added ◽  
Food Products ◽  
The European Union ◽  
Food Sector ◽  
Eu Countries ◽  
Comparative Advantages ◽  
Research Period ◽  
The Eu

Research background: Globalisation and economic integration are the reasons for which the competitiveness of economic entities is analysed more and more often in the context of their relations with the international market. One of the ways to assess the competitiveness of the Polish food sector is an analysis of comparative (relative) advantages in the export of this sector’s products. Purpose of the article: The objective of this paper is to assess comparative advantages in Polish export of food products to the European Union against a background of selected groups of non-food products. Methods: The study used the B. Balassa’s revealed comparative advantage (RCA) index. The study is preceded by a brief review of foreign trade results. The source of data was the WITS-Comtrade commercial database. The analysis was carried out at the level of the HS sections (in commodity terms). The research period covered the years 2003–2015. Findings & Value added: In the years 2003–2015, export of food increased nearly six times and its import — more than 4.5 times. The major partners of Poland as regards trade in food were the EU countries. The food sector was one of few sectors of the economy with the positive trade balance. Polish export to the EU was characterised by a diversified level of comparative advantages. From among 20 HS sections, in 2015 Poland had comparative advantages in export to the EU countries for products from 10 sections (2 food and 8 non-food). Those products accounted for 11% and 70% of Polish export to the EU, respectively. The development of Polish foreign trade in food products during the Polish membership in the EU as well as fairly high comparative advantages in the export of these products to the EU indicate the competitiveness and significant importance of the Polish food sector for the national economy.

Square Pegs and Round Holes (Continued): Financial Market Surveillance Authorities and Internal Market Association

2020 ◽  
Vol 22 ◽  
pp. 32-59
Author(s):  
GEORGES S BAUR
Keyword(s):  
Financial Market ◽  
Financial Services ◽  
Internal Market ◽  
Trade Association ◽  
European Economic Area ◽  
The European Union ◽  
Services Sector ◽  
The United Kingdom ◽  
European Free Trade Association ◽  
The One

AbstractAfter the financial crisis of 2008, the European Union (‘EU’) not only increased its substantial legislation regarding financial services, but also built up a strong and unified system of financial market supervision. In particular, central surveillance authorities were created. These were given far-reaching competences with regard to substituting dysfunctional national authorities or players in the financial services sector. The three European Economic Area (‘EEA’) and European Free Trade Association (‘EFTA’) States—Iceland, Liechtenstein, and Norway—participate in the EU's internal market through their membership of the EEA. In order to continue participating on an equal footing in the internal market for financial services and to honour their duty to maintain homogeneity, the EEA EFTA States also had to incorporate the new institutional setup regarding financial services supervision. This obligation, however, in particular relating to certain intrusive powers of the new surveillance authorities, collided with some constitutional reservations, above all of the two Nordic EEA EFTA States. This article will show how these conflicting aims could be merged into a system that on the one hand guarantees the unified overall approach needed for strengthened surveillance of the internal market for financial services, and on the other hand safeguards certain constitutional reservations of the EEA EFTA States. It also looks at how third countries that do not (fully) participate in the internal market, such as the United Kingdom and Switzerland, are likely to be treated in this context by the EU.

scholarly journals The Contribution of ESG Information to the Financial Stability of European Banks

2021 ◽  
Vol 66 (3) ◽  
pp. 429-450
Author(s):  
Balázs Tóth ◽  
Edit Lippai-Makra ◽  
Dániel Szládek ◽  
Gábor Dávid Kiss
Keyword(s):  
Financial Stability ◽  
Stock Exchange ◽  
Trade Association ◽  
The European Union ◽  
Regulatory Capital ◽  
European Free Trade Association ◽  
European Banks ◽  
Lending Institutions ◽  
The Relationship ◽  
Positive Effect

Nowadays more and more economic actors publish information regarding sustainability, through economic (E), social (S), and governance (G) performance. In the case of banks, ESG performance is important as they affect most of the industries through their investments and loans. In this research our aim is to investigate the relationship between financial stability and ESG performance. We applied panel regressive methods during the analysis. The sample consisted of stock exchange listed lending institutions (243 banks) from the European Union (EU) and the European Free Trade Association (EFTA). Our results show that ESG performance reduced the ratio of non-performing loans significantly. Furthermore, the positive effect of regulatory capital has been confirmed. Consequently, we can assert that the economic, social, and governance performance have beneficial impacts on financial stability. Therefore, the consideration of these pieces of information should be important for the investors and the regulators as well.

Part III Jurisdiction, Foreign Judgments and Awards, 15 Recognition and Enforcement of Foreign Judgments and Arbitral Awards in England—An Introduction

2017 ◽  
Author(s):  
Torremans Paul
Keyword(s):  
International Law ◽  
Family Law ◽  
Trade Association ◽  
Private International Law ◽  
International Agreement ◽  
The European Union ◽  
European Free Trade Association ◽  
Direct Operation ◽  
Recognition And Enforcement ◽  
The Uk

This chapter examines how foreign judgments and arbitral awards are recognised and enforced in England. Unsatisfied foreign judgments and arbitral awards give rise to complicated questions concerning private international law. Owing to the principle of territorial sovereignty, a judgment delivered in one country cannot, in the absence of international agreement, have a direct operation of its own force in another. This chapter first considers the effect given to foreign judgments and arbitral awards before discussing the different regimes governing recognition and enforcement of foreign judgments. In particular, it looks at judgments from outside the European Union and European Free Trade Association (EFTA), judgments from an EU or EFTA state, and judgments from other parts of the UK. It also analyses issues relating to insolvency, family law, and wills and successions and concludes with an overview of rules under which foreign arbitral awards are recognised and enforced.

The Phases of European Integration

2017 ◽  
Author(s):  
Bernard Stirn
Keyword(s):  
European Convention ◽  
Trade Association ◽  
The European Union ◽  
Council Of Europe ◽  
Founding Fathers ◽  
Geographic Space ◽  
European Project ◽  
European Free Trade Association ◽  
European Institutions ◽  
Political Solidarity

The chapter shows how, from the early beginnings of the efforts of the European idea’s founding fathers up until the present day, the European project has developed along three axes. The first follows the European Coal and Steel Community (ECSC) to the European Union (EU); the second follows the development of the Council of Europe and the European Convention on Human Rights (ECHR); the third follows the other European institutions, such as, for example, those concerned with military co-operation and the European Free Trade Association (EFTA), and the Schengen area. The chapter shows how within a geographic space that has been enlarged considerably, the countries of Europe have attained a level of economic and political solidarity that undoubtedly surpasses the hopes of the founding fathers of the European project.

scholarly journals Mapowanie produktów polskiego eksportu produktów rolno spożywczych kierowanego do wybranych krajów Unii Europejskiej w 2020 roku

2021 ◽  
Vol 21(36) (4) ◽  
pp. 37-53
Author(s):  
Ewa Cieślik
Keyword(s):  
European Union ◽  
Trade Balance ◽  
Food Products ◽  
The European Union ◽  
Export Markets ◽  
Comparative Advantages ◽  
Growth Prospects ◽  
Product Mapping

The article focuses on the search for growth prospects for Polish exports of agri-food products with economies belonging to the European Union and being the most important export markets for Poland in terms of agri-food products. Groups of these goods were identified that are characterized by positive and negative indicators of revealed comparative advantages and indicators of the trade balance. The study used a method based on the product mapping matrix.

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