scholarly journals THE IMPACT OF THE ASSOCIATION AGREEMENT WITH THE EU ON UKRAINE, GEORGIA, AND MOLDOVA: VAR-MODEL, MONETIZATION INDEX, CUSTOMER PRICE INDEX.

2021 ◽  
pp. 59-69
Author(s):  
S.O. Yakubovskiy ◽  
◽  
V.I. Seleznov ◽  
Keyword(s):  
European Union ◽  
Price Index ◽  
Consumer Price Index ◽  
Granger Causality Test ◽  
The European Union ◽  
Time Intervals ◽  
Causality Test ◽  
Association Agreement ◽  
Before And After ◽  
The Impact

This article assesses the impact of the association agreement with the European Union on Georgia, Ukraine, and Moldova. The monetization index is the ratio of the money supply of the M2 aggregate to the GDP of the studied economy. The consumer price index reflects the change in the value of a certain consumer basket. This index is the ratio of the money supply of the M2 aggregate to the GDP of the analyzed economy. The article substantiates the expediency of using such particular indicators due to their monthly update and lower susceptibility to artificial manipulation. For each country, two specific time periods were selected, before and after the entry into force of the association agreement with the European Union. The time intervals were chosen to exclude abnormal events that could affect the accuracy and objectivity of the study. The data obtained were reduced to a general form through econometric transformations. For the selected time intervals, using vector autoregression and the Granger causality test, the dependences of the analyzed indicators of each country on such indicators of the euro area were determined. The dependence coefficients of the Granger causality test were compared for the time periods before and after the association agreement for each country. Based on the transformed monetization index and consumer price index, conclusions were drawn regarding the change in the degree of mutual influence of the European Union economy on the economies of the countries represented. The conclusions analyze the possible reasons for the data obtained, as well as compare the geographical and economic conditions of each country in the context of the results of the study. The impact of the association agreement with the European Union on the overall economic dependence of Georgia, Ukraine and Moldova on the European Union has been assessed. The countries actively participate in European integration. The study builds an understanding of the depth of integration of each country, as well as analyzes the dynamics of its change in recent periods.

scholarly journals The Europeanisation of Slovak Political Parties

2015 ◽  
Vol 15 (1) ◽  
pp. 31-58 ◽  
Author(s):  
Dušan Leška
Keyword(s):  
European Union ◽  
Political Parties ◽  
Party System ◽  
Party Competition ◽  
The European Union ◽  
Stages Of Development ◽  
Association Agreement ◽  
Government Relations ◽  
Before And After ◽  
The Impact

Abstract The aim of the study is to analyse the Europeanisation of Slovak political parties in the various stages of the transition and transformation of the political system of Slovakia before and after the entry into the European Union. Methodologically, the paper is based on the concept of Ladrech, who divided five areas of research to suit the study of the impact of the Europeanisation on political parties and their politics. Visible can be changes in political programmes, organisational changes, a formula of party competition, relations between parties and government, relations beyond the national party system (a new look at transnational cooperation between political parties). Our research proved that the Europeanisation has been visible at all stages of development, with varying degrees of intensity and in various forms since the signing of the association agreement with the European Union. Its effect was important already in the stage of the society transition when it helped the return of Slovakia on the path of democratic development. In the two stages of development, Europeanisation created an individual line of cleavage of political parties, affected the rivalry of political parties, and thus a party system model. Unambiguously, it was reflected in political programmes of all parties, and an important role was played by the incorporation of political parties in the European political parties, by their cooperation and coordination of their policies. The election in the European Parliament was an important turning point in completion of programme orientations of political parties.

The Relationship Between Stock Market Indices of the Biggest Six Economies of the European Union and BIST 100

2020 ◽  
pp. 257-275
Author(s):  
Serdar Ögel ◽  
Fatih Temizel
Keyword(s):  
European Union ◽  
Stock Market ◽  
Granger Causality ◽  
Granger Causality Test ◽  
Var Model ◽  
The European Union ◽  
Causality Test ◽  
Integration Test ◽  
Causality Relationship ◽  
The Relationship

This chapter examines the relationship between stock market indices of the biggest six economies of the European Union and BIST 100. In this context, this study used the daily time series regarding indices of DAX for Germany, CAC 40 for France, FTSE MIB for Italy, IBEX 35 for Spain, AEX for Holland, FTSE 100 for United Kingdom, and BIST 100 for Turkey from 2014 to 2018. To test whether there is a co-integration relationship among indices, Johansen co-integration test was used. Since a co-integration relationship was not found between series, causality relationship between the European stock market indices and Turkey was tested with Granger causality test by establishing standard VAR model. As a result, a unidirectional Granger causality relationship was found from DAX, FTSE 100, CAC 40, IBEX 35, and AEX to BIST 100 according to lag length 1 and 2. However, a unidirectional Granger causality relationship was only found from FTSE MIB to BIST 100 for lag length 1. For lag length 1 and 2, no causality relationship was found from BIST 100 to the selected European stock market indices.

The Impact of Social Transfers on Income Poverty and Material Deprivation

2018 ◽  
pp. 85-107 ◽  
Author(s):  
Geranda Notten ◽  
Anne-Catherine Guio
Keyword(s):  
European Union ◽  
Social Exclusion ◽  
Poverty Reduction ◽  
Material Deprivation ◽  
Income Poverty ◽  
The European Union ◽  
The United Kingdom ◽  
Before And After ◽  
Social Transfers ◽  
The Impact

In 2010, the European Union (EU) committed to lifting at least 20 million people out of poverty and social exclusion, using income poverty, severe material deprivation, and (quasi-)joblessness as metrics to measure progress on this goal. As part of a broader set of commonly agreed indicators, the EU also (crudely) measures the impact of transfers by comparing income poverty rates before and after social transfers. This chapter develops a regression approach to study the effects of transfers on material deprivation by predicting the material deprivation rate before social transfers. We apply the method to pre-recession and post-austerity EU-SILC data for Germany, Greece, Poland, and the United Kingdom. We find that, in addition to reducing income poverty, transfers substantially reduce the extent and depth of material deprivation. Changes in social transfers, therefore, have a twofold effect on Europe’s poverty-reduction target.

scholarly journals Don’t cry for me Britannia: The resilience of the European Union to Brexit

2019 ◽  
Vol 21 (1) ◽  
pp. 152-172 ◽  
Author(s):  
Narisong Huhe ◽  
Daniel Naurin ◽  
Robert Thomson
Keyword(s):  
Decision Making ◽  
European Union ◽  
Network Analysis ◽  
Spatial Model ◽  
The Political ◽  
The European Union ◽  
Member States ◽  
Decision To Leave ◽  
Before And After ◽  
The Impact

We assess the impact of the United Kingdom’s 2016 decision to leave the European Union on the Council of the European Union, where Brexit is likely to have the clearest observable implications. Using concepts and models from the spatial model of politics and network analysis, we formulate and test expectations regarding the effects of Brexit. We examine two of the most prominent datasets on recent decision-making in the European Union, which include data on cooperation networks among member states before and after the 2016 referendum. Our findings identify some of the political challenges that Brexit will bring, but also highlight the factors that are already helping the European Union’s remaining member states to adapt to Brexit.

scholarly journals The Effect of the European Union Customs Union on the Balance of Trade in Turkey

2017 ◽  
Vol 52 (4) ◽  
pp. 219-232 ◽  
Author(s):  
Natalya Ketenci
Keyword(s):  
European Union ◽  
Gravity Model ◽  
Generalized Method Of Moments ◽  
Oecd Countries ◽  
Dynamic Panel Data ◽  
Customs Union ◽  
The European Union ◽  
Before And After ◽  
Balance Of Trade ◽  
The Impact

This article investigates the effect of the customs union between Turkey and the European Union on the balance of trade in Turkey. The framework for analysis is an extended trade gravity model onto which the impact of the customs union is applied. The gravity model of trade is estimated using dynamic panel data which applies the generalized method of moments to a sample of OECD countries. Separate estimates were made for the periods before and after the process of trade liberalization in Turkey—1980–1995 and 1996–2012, respectively—as well as for the full period—1980–2012. The main conclusion is that when the European Union is accounted for as an econometric variable, the empirical results are striking: Turkey’s gains resulting from taking part in the customs union are noteworthy, with significant improvement in the trade balance with European Union countries. However, the trade flows, and specifically imports, have been mainly with OECD countries that are themselves not members of the EU. The model indicates that external common tariffs are responsible for Turkey’s trade growth rather than tariffs abolished in the internal market of the customs union.

scholarly journals Economic prospects in the context of growing regional interdependencies: the European Union and the eastern partnership

Ekonomika ◽  
2015 ◽  
Vol 94 (2) ◽  
pp. 47-72
Author(s):  
Ganna Kharlamova
Keyword(s):  
European Union ◽  
Economic Integration ◽  
Descriptive Analysis ◽  
Soviet Period ◽  
The European Union ◽  
Causality Test ◽  
Main Hypothesis ◽  
Before And After ◽  
Political Association ◽  
The Eu

The paper deals with the European Union programme devoted to the eastern neighboring states. Through its European Neighbourhood Policy (ENP), the EU works with its southern and eastern neighbours to achieve the closest possible political association and the greatest possible degree of economic integration. This goal builds on common interests and values — democracy, the rule of law, respect for human rights, and social cohesion. The EU is concerned that, despite sufficient funding and support from the EU, the targeted states did not raise to the EU targets for the programme or at least to a relevant one. We assume that such fact happened mostly because, although having very diverse economic and reform pasts emerged from the post-soviet period, they were considered and approached as a single group. The main hypothesis: has the umbrella of the EU funds in terms of the EaP provided for the six targeted states to intensify the growth of regional interdependencies as well as political cooperation and progressive economic integration? The main goal of the paper is to assess, by means of the statistical and comparison approach, the development and the economic sustainability of six targeted states (Belarus, Moldova, Ukraine, Armenia, Azerbaijan, and Georgia) in the period before and after the programme launching – the degree of regional interdependence and economic integration. The research was conducted using the methods of empirical (regression) analysis, theoretical explanations, descriptive analysis, and the Granger causality test.

The Impact of the Court of Justice of the European Union on the Georgian Legal System

2020 ◽  
pp. 241-262
Author(s):  
Gaga Gabrichidze
Keyword(s):  
European Union ◽  
Legal System ◽  
Competition Policy ◽  
Case Law ◽  
The European Union ◽  
Association Agreement ◽  
Court Of Justice ◽  
System P ◽  
The Impact ◽  
The Eu

This chapter scrutinizes perception of the case law of the Court of Justice of the European Union (CJEU) by the Georgian courts and the Georgian Competition Agency. With the conclusion of the Association Agreement between the EU and Georgia in 2014, the Georgian legal system undoubtedly became more closely connected with EU law. Hence, approximation commitments under the Association Agreement made the case law of the CJEU of much more relevance for the Georgian courts and administrative authorities. However, in the wake of intensification of EU–Georgia relations, the impact of CJEU case law can be identified even in the time before conclusion of the Association Agreement. Analysis shows that several factors play a role with regard to the extent and frequency of mentioning CJEU case law in the decisions of the Georgian courts and Competition Agency. Judges refer to case law of the CJEU with the aim of either strengthening their own arguments or using it as a source of interpretation. Taking into consideration the ‘European’ roots of Georgia’s competition policy, the Competition Agency regards the case law of the CJEU as having a very important interpretative value for closing ‘gaps’ in the law.

scholarly journals Northern Cyprus as an ‘inner neighbour’: A critical analysis of European Union enlargement in Cyprus

2018 ◽  
Vol 26 (1) ◽  
pp. 37-49 ◽  
Author(s):  
Anna Casaglia
Keyword(s):  
European Union ◽  
Eu Enlargement ◽  
Negotiation Process ◽  
The European Union ◽  
European Union Enlargement ◽  
Northern Cyprus ◽  
Before And After ◽  
Turkish Cypriot ◽  
The Impact ◽  
The Eu

This article analyses the impact of Cyprus’s accession to the European Union (EU) on the northern part of the island, and tackles the political actorness of the EU with regard to the enduring Cypriot conflict. Much literature has critically analysed the EU enlargement process, underlining its imperialistic features and its problematic nature. At the same time, scholars have highlighted the EU’s difficulties in acting as a political actor and its impact on situations of ethno-national conflict. This article brings together these critical aspects by analysing them in the peculiar context of Cyprus. It retraces the negotiation process and the Turkish Cypriots’ in/visibility throughout it, and presents research conducted following Cyprus’s accession in three different periods between 2008 and 2015. We propose an interpretation of Northern Cyprus as an ‘inner neighbour’ of the EU, because of its anomalous and liminal status, the suspended application of the acquis communautaire, the unresolved conflict and the ambiguity of the border management of the Green Line, the line of partition between north and south. All these problematic features of Northern Cyprus’s situation are examined in detail to identify the unique position of this entity within the EU. In addition to this, and supporting the importance of a bottom-up understanding of the EU’s normative and symbolic projection, the article presents the opinions of Turkish Cypriot citizens about their expectations before and after 2004, and how their ideas and imaginaries related to the EU have evolved and interacted with the process of Europeanisation.

scholarly journals The Impact of Political Events - “Name Issue” on an Emerging Macedonian Stock Market

2011 ◽  
Vol 1 (2) ◽  
pp. 203 ◽  
Author(s):  
Julijana Angelovska
Keyword(s):  
European Union ◽  
Structural Changes ◽  
Stock Exchange ◽  
Abnormal Returns ◽  
Candidate Country ◽  
The European Union ◽  
Political Events ◽  
Before And After ◽  
The Status ◽  
The Impact

The objective of the research is to investigate the impact of political events – “name issue” on the Macedonian Stock Exchange (MSE). Structural changes in volatility of Macedonian capital market seems to be more a consequence of political changes, especially from the perspective of international politics and the association of the country into NATO and the European Union. The research analyzes the response of capital markets to political events. Such an event is the summit in Bucharest as the day D (03/04/2008) which certainly had an impact because of prolonged unresolved problem of the name imposed by Greece. Visa liberalization and the day of solving the status of candidate country for accession to the European Union will be discussed too. An event methodology is employed, and the results suggest that the market respond to all political events connected “name issue”. The results also indicate that there is no difference between the means of abnormal returns before and after the event. Sensitivity of the Macedonian investor related to any information connected to the word "name" is enormous. The Macedonian investor belief is that if “name” issue would be solved, regardless of possible negative real economic flows stock exchange will increase. The paper provides information regarding the effects of solving this name issue on Macedonian investor, and his expectation on this issue. But even if it is solved, the global economic crises and difficult economic situation in Macedonia especially this situation will be temporary and due to low liquidity, foreigners may use local optimism to sell their shares.

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