Iceland: Lessons of Crisis

2012 ◽  
pp. 81-90
Author(s):  
Y. Korolev
Keyword(s):  
Market Regulation ◽  
Anglo Saxon ◽  
Development Models ◽  
Financial Bubble ◽  
Crisis Recovery ◽  
State Participation ◽  
Innovation Model ◽  
Regulation Mechanisms ◽  
Recovery Program ◽  
The Eu

In the last decade of the XXth century Iceland became a peculiar laboratory of neoliberal ideas: the change of economic development models occured – from Scandinavian model, with dominate state participation in the economy, to Anglo-Saxon model, with liberal market regulation mechanisms, primarily in the financial sphere. Icelandic banks, which had grown on a questionable ground, suddenly failed in October 2008. The economy in general was also shaken, and Iceland turned into a textbook example of a financial bubble. The policy of Icelandic government just before and during the crisis is thoroughly analyzed in the article, the crisis recovery program, prospects of transition to the innovation model of the country's economy and interrelations between Iceland and the EU are laid out.

Lost in uncertainty: How the Euro crisis affected European identity constructions in national media discourses

2018 ◽  
Vol 81 (6-8) ◽  
pp. 602-622
Author(s):  
Dennis Lichtenstein ◽  
Christiane Eilders
Keyword(s):  
Financial Stability ◽  
European Identity ◽  
Market Regulation ◽  
Euro Crisis ◽  
Eu Member States ◽  
Identity Constructions ◽  
Weekly Newspapers ◽  
The Uk ◽  
Media Discourses ◽  
The Eu

The Euro crisis has revealed severe conflicts between EU member states and challenged a shared European identity. This article investigates how the crisis was reflected in identity constructions in media discourses in EU key countries. European identity construction is conceptualized as framing of the EU in favour or against belonging to the EU and togetherness with other members. Conducting a systematic content analysis of two weekly newspapers and magazines in Germany, France and the UK, we compare identity constructions between 2011 and 2014. Findings show that while support of belonging to the EU is low in general, the countries differ remarkably in terms of their sense of togetherness. This particularly applies to strong or weak political integration, market regulation or market freedom and financial stability or impulses for economic growth. The positions reflect long-term political conflicts between the countries but are also flexible enough to adapt to the particular event context.

Neither protective nor harmonized: the crossborder regulation of medical devices in the EU

2020 ◽  
pp. 1-13
Author(s):  
Holly Jarman ◽  
Sarah Rozenblum ◽  
Tiffany J. Huang
Keyword(s):  
Medical Devices ◽  
Regulatory Authority ◽  
Health Care Cost ◽  
National Policy ◽  
Market Regulation ◽  
The European Union ◽  
Post Market ◽  
The Status ◽  
Market Fragmentation ◽  
The Eu

Abstract To what extent does inadequate market regulation contribute to poor health outcomes? A series of prominent scandals involving harmful medical devices has made improving the regulation of these devices an urgent problem for the European Union (EU). This is, however, a specific example of a general phenomenon. The EU remains first and foremost a large and integrated market within which the EU institutions have considerable regulatory authority. Even if there is little EU commitment to a health or social policy agenda, its use of that regulatory authority shapes health care cost and quality and should be understood as health policy. We use data from EU-level and national policy documents to analyse the EU's current regulatory framework for medical devices and assess its likely future efficacy. Despite revising the medical devices directive to require more stringent pre-authorization requirements for high-risk medical devices and improvements in post-market surveillance, the key underlying problems of market fragmentation and patient safety persist. Without strong and consistent support for the implementation of the new directive, the likely result is the status quo, with significant consequences for health in Europe.

The Impossible Transplant of the EU Emissions Trading Scheme: The Challenge of Energy Market Regulation

2016 ◽  
Vol 6 (1) ◽  
pp. 59-85 ◽  
Author(s):  
Anatole Boute
Keyword(s):  
Emerging Economies ◽  
Emissions Trading ◽  
Energy Market ◽  
Market Regulation ◽  
The European Union ◽  
Emissions Trading Scheme ◽  
Trading Scheme ◽  
The Cost ◽  
The Impact ◽  
The Eu

AbstractFollowing the European Union (EU) experience, an increasing number of countries are establishing an Emissions Trading Scheme (ETS). The EU ETS often serves as a ‘model’ despite fundamental differences in the receiving environment. In the EU liberalized energy markets, carbon prices are intended to raise the cost of carbon-intensive energy and thereby stimulate cleaner alternatives. In contrast, many emerging economies continue to regulate energy investments and prices, which may insulate consumers and producers from the impact of an ETS. To avoid this risk, energy economists advocate EU-style energy market reforms as a prerequisite to the introduction of the ETS concept abroad. By focusing on the cases of China, Kazakhstan, and Russia, this article highlights the limits on the exportation of the EU liberalization model and argues that, instead of energy reform, the ETS must be reconceptualized as a mechanism that integrates the regulated energy market paradigm in emerging economies.

WHY DO SOME COUNTRIES UNDERTAKE STRUCTURAL REFORMS WHEN OTHERS DO NOT?

2010 ◽  
Vol 01 (01) ◽  
pp. 81-103
Author(s):  
ANDREW HUGHES HALLETT
Keyword(s):  
Labour Market ◽  
Imperfect Competition ◽  
Emerging Market ◽  
Market Regulation ◽  
Policy Makers ◽  
Fiscal Constraints ◽  
Official Policy ◽  
Labour Market Regulation ◽  
Tax Distortions ◽  
The Eu

It is widely accepted that structural, institutional and labour market reforms are essential for the development of the OECD and emerging market economies; and that argument has been incorporated into official policy in the EU as part of the Lisbon agenda. Yet there is little analysis in the economics literature of how these reforms should work, or of which reforms would be most effective. Similarly, there is no explanation of why policy makers extol the virtues of reform, but often fail to carry them out. Or why some countries embrace reform, but others in similar circumstances do not. To explain these differences we develop a general equilibrium model with imperfect competition, extended to include labour market imperfections and tax distortions. We find that fiscal constraints to be the principal reason that reforms do not get undertaken, though labour market regulation can be a serious complicating factor in certain cases. As a result, the reduction of tax distortions, rather than market or institutional reform, is usually the most effective type of reform. The implication is that we need models that combine different reform instruments and different distortions to analyse this kind of problem.

Consideration about Construction of Compensation Mechanism of Green Building Healthy Development

2012 ◽  
Vol 598 ◽  
pp. 71-74 ◽  
Author(s):  
Li Ming
Keyword(s):  
Green Building ◽  
Single Subject ◽  
Market Regulation ◽  
Compensation Mechanism ◽  
Healthy Development ◽  
Industrial Chain ◽  
Compensation Mechanisms ◽  
Regulation Mechanisms ◽  
Legal Constraints ◽  
The Government

The existing Compensation mechanism is the single subject government compensation mechanism that has many problems such as single compensation means, lack of stability, low compensation standards and so on, which fails to provide effective incentive for promoting sustainable development. Building the Government-led pluralized subject, diversification of compensation for the entire industrial chain, compensation mechanisms which covers existing housing, and many realization forms of compensation mechanism that includes Government-led mechanism, market regulation mechanisms, legal constraints mechanism, public participation mechanism, are perfection and improvement to single body Government compensation mechanism.

scholarly journals Towards Single Market in Financial Services: Highlights of the EU and the EAEU Financial Markets Regulation

2020 ◽  
Vol 8 (1) ◽  
pp. 111-137
Author(s):  
Rustam Kasyanov ◽  
Anzhelika Kriger
Keyword(s):  
Comparative Analysis ◽  
Financial Markets ◽  
Financial Services ◽  
Market Regulation ◽  
The European Union ◽  
European Union Law ◽  
Member States ◽  
Advantages And Disadvantages ◽  
The Eu ◽  
Financial Markets Regulation

The article covers key formats of interstate cooperation in the post-Soviet space. The authors conclude that the Eurasian Economic Union is the major integration project bringing together Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. This research addresses various legal issues related to founding of the EAEU single financial services market with provisions and annexes of the EAEU Treaty studied. The EAEU meets challenges and creates legal and institutional framework for single financial services market within a relatively short timeframe. By 2025 both Supranational Eurasian financial regulator should be established and EAEU legislation on financial services should be harmonized. These tasks require international and national regulation experience. Therefore through the use of comparative analysis some advantages of the European Union law in the field of financial services market regulation are pointed out alongside with particular national legislation aspects of the EAEU member states in the similar or relative fields. Comparative analysis provides for determination of modern approaches to financial services market regulation in the EAEU and its member states, and allows to emphasize advantages and disadvantages of such regulation. Comparative analysis is applied to specifically investigate three subject areas of high relevance for global financial community: institutional forms of trade in financial instruments; organized trade in financial derivatives; organization of algorithmic and high-frequency algorithmic trading. Conclusion drawn is that the EU experience in the matters of financial markets regulation is of particular interest for the EAEU and its member states.

scholarly journals A repcepogácsa felhasználásának lehetősége a sertéstakarmányozásban

2009 ◽  
Vol 4 (3-4) ◽  
pp. 16-20
Author(s):  
Richárd Márkus ◽  
Imre Tell ◽  
Tamás Tóth ◽  
Szabolcs Troján
Keyword(s):  
Meat Production ◽  
Market Regulation ◽  
Pork Meat ◽  
Strong Fluctuation ◽  
The Past ◽  
Animal Farming ◽  
Leading Role ◽  
Production And Consumption ◽  
The Cost ◽  
The Eu

Pig- or pork meat is still keeping its leading role in meat production- and consumption -ahead of poultry - its main rival - which has made a huge development during the past decades. The pig sector has to face huge difficulties almost continuously, anyway periodi-cally - in the EU and in Hungary, as well. The EU has included pork in a category called „light market regulation product paths", hence the development of production/consumption is exposed mostly to the extremities of markets. Because of this, a strong fluctuation in buy-up prices has also been observable up to now, according to the well-known cyclicism in the pig sector, as well as a consequence of the various pig illnesses, changes in con-sumer habits, and so on. Due to the lack of market regulations, an absurd fenomena oc-cures very often, notably: parallel to the decreasing slaughter hog procurement prices -that of forage increase. Consequently, farms have to try to minimise (or being more pre-cise) to optimise costs for the sake of their sustainability, and keeping up competitiveness. Concerning the cost-structure of animal farming, no doubt that costs of forages are deter-minant, especially in case of pig farming it can reach as much as 60-70 percent of the total. Consequently, beside applying „novel" forages, increasing effectiveness of the so-called „traditional ones" is also badly needed.

scholarly journals COMPETITIVENESS OF THE INDUSTRY: CONDITIONS AND FACTORS

THE BULLETIN ◽  
2021 ◽  
Vol 389 (1) ◽  
pp. 123-130
Author(s):  
L. Bekenova ◽  
S. Velesko
Keyword(s):  
External Environment ◽  
Market Regulation ◽  
Competitive Advantages ◽  
Negative Consequences ◽  
Internal Factors ◽  
Analysis And Synthesis ◽  
Regulation Mechanisms ◽  
State And Market ◽  
General Scientific ◽  
Internal And External Factors

The aim of the study is to systematize the conditions and factors of competitiveness in order to identify them and develop mechanisms to influence them. The study is based on the application of a systematic and dialectical approaches to scientific knowledge of the characteristics of the factors of competitiveness of the industry. In the course of the research, general scientific research methods were applied such as observation, description, analysis and synthesis, as well as formal-logical and other methods of cognition. The information base of the research was made up of monographic studies, periodicals printed and electronic publications on the topic of research. The article analyzes scientific approaches to the study of the content of competitiveness. The factors of competitiveness of the industry are considered from the perspective of their classification. A clear systematization of competitiveness factors has been carried out according to six main features, and their features have been revealed. Internal and external factors of competitiveness are analyzed in detail. The content of the determinants of internal factors characterizing the set of competitive advantages of the industry and including resource, production and management conditions is disclosed. The main parameters of assessing the external environment in the absence of universal schemes of competitive behavior in the market of Kazakhstan are highlighted. In addition, the specificity of the analysis of the internal environment of the competitiveness of the industry is determined and its relationship with the data of monitoring of the external environment is substantiated. In the result of the analysis of the competitive potential of the industry from the standpoint of a systematic approach, its main feature is revealed, which manifests itself in a synergistic effect due to the internal interactions of the elements of potential. There are formulated conclusions about the ratio of state and market regulation mechanisms, the optimality of which contributes to increasing the competitive potential of the industry and ensuring its sustainable development. In addition, there are proposed measures to improve the efficiency of domestic production and neutralize the negative consequences of globalization in the context of the development of integration processes and increased competition.

scholarly journals Legal and economic aspects of Ukrainian enterprises activity at the European renewable energy market

2017 ◽  
Vol 14 (2) ◽  
pp. 71-78 ◽  
Author(s):  
Sergiy Bilotskiy ◽  
Nicole Danylova ◽  
Olena Grinenko ◽  
Oleksandra Karmaza ◽  
Daria Koucherets
Keyword(s):  
Renewable Energy ◽  
Alternative Energy ◽  
Current Trend ◽  
Energy Markets ◽  
European Market ◽  
Energy Market ◽  
Market Regulation ◽  
Alternative Energy Sources ◽  
Solid Biofuels ◽  
Regulation Mechanisms

The article deals with a current trend of the global energy market, which is characterized by rising tension in relations between the performers of the energy market regulation mechanisms, and it leads to the emergence of alternative energy sources. The article is called to identify the causes of renewable energy markets nascence, to make comparative description of Ukrainian and European Renewable Energy Markets attractiveness, and to characterize the state policy change in a renewable energy market. Different interpretation of nature and classification of the field of renewable energy in foreign and Ukrainian approaches shows the problem of legal criteria of renewable energy markets regulation. It is proved the existence of double barrier penetration of the European market for renewable energy for Ukrainian companies, which includes compliance with the accepted EU Directives and compliance with the Rules of each member individually. The presence of clearly defined standards and certificates of quality for the European market allows producers to show the competitiveness of Ukrainian products in the international market and stimulate Ukrainian manufacturers. The presence of clearly formulated laws, stable and balanced political and legal environment of the EU allows Ukrainian producers of renewable energy to develop such a strategy that considers the time factor, as the primary parameter of competitiveness in international business. The market of solid biofuels in EU is under formation, its development timeframe and uncertainty of environmental risks becoming is especially important for Ukrainian producers.

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