Kryzys modernizacyjny a działania Unii Europejskiej na rzecz wzrostu gospodarczo-społecznego

2015 ◽  
pp. 96-121
Author(s):  
Justyna Miecznikowska
Keyword(s):  
European Union ◽  
Global Financial Crisis ◽  
National Level ◽  
Policy Instruments ◽  
Economic Downturn ◽  
The European Union ◽  
National Interests ◽  
Territorial Expansion ◽  
The Global Financial Crisis ◽  
The Eu

The purpose of the analysis is to demonstrate, in the historical perspective covering the period between 2000 and 2014, the series of modernisation efforts, undertaken within the European Union, which aimed at increasing the rationality of economic and social processes occurring in the single European market. The assumption was that a thorough examination of the current process of EU reforms would allow for the identification of sources of the modernisation crisis. The adopted research hypothesis assumes that the present modernisation crisis is a consequence of the weakness of European governance and insufficient adaptation of the EU policy instruments to the constantly changing political and economic challenges, such as globalisation, territorial expansion and the global financial crisis. Effective modernisation of the European Union is hindered by the manner of implementation of EU’s tasks and objectives at the national level (based on the open method of coordination) and challenged by the interstate competition escalating within the EU in times of economic downturn and arising from the divergent interpretations of national interests. The present modernisation crisis manifests itself in the failure to comply with the adopted economic and social development strategies and the threat of regressive changes.

scholarly journals Comparative Analysis of Financial Stability Policy of The National Bank of Serbia and The European Central Bank

2015 ◽  
Vol 53 (2) ◽  
pp. 142-161
Author(s):  
Mirjana Jemović ◽  
Borko Krstić
Keyword(s):  
European Union ◽  
Financial Services ◽  
Financial Stability ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
System Stability ◽  
The European Union ◽  
National Bank ◽  
The Global Financial Crisis ◽  
The Eu

AbstractThe Republic of Serbia has successfully completed the first part in the European Union integration process, being granted candidate status for membership in the European Union (EU). The stage of accession negotiations is in progress, and it includes the full harmonization with the EU acquis, whereby the analytical review of legislation, the so-called screening is being carried out in 35 chapters. The global financial crisis that affected our country in 2008 has required a timely reaction of the National Bank of Serbia (NBS) in order to preserve the financial system stability, especially the banking sector as its most important segment. As the financial services sector adjusts within chapter 9, the aim of this paper is to assess the level of compliance of national legislation with the EU legislation regarding banking sector. Along with the regulatory initiatives in the field of preserving financial stability in the EU countries, the NBS has paid great attention to the harmonization of its financial stability policy with the financial stability policy of the European System of Central Banks (ESCB).

The Euro Area In Crisis, 2008–18

2020 ◽  
Author(s):  
Christos Hadjiemmanuil
Keyword(s):  
European Union ◽  
Gross Domestic Product ◽  
Euro Area ◽  
Global Financial Crisis ◽  
The European Union ◽  
The Us ◽  
The World ◽  
The Global Financial Crisis ◽  
Deep Recession ◽  
The Eu

In autumn 2008, just as the euro was approaching its tenth anniversary, the European Union (EU) became embroiled in the Global Financial Crisis (GFC). Elsewhere in the world, including in the US, where it originated, the GFC caused a very deep recession but then receded, and was essentially over by the end of 2009. In the EU, however, it took a double-dip form, with the EU-28 area’s real gross domestic product (GDP) suffering a -4.4 per cent fall in 2009 and another -0.5 per cent fall in 2012. The timing and impact of the crisis differed significantly across Member States, and the recovery was uneven. Taken as a whole, the euro area (EA19) performed worse than the rest of the EU, especially in 2012–13, when it lost -1.3 per cent of GDP, and only returned to its 2007 GDP level in 2015.

scholarly journals Ireland, Europe and the Global Crisis

2016 ◽  
Vol 22 (1) ◽  
pp. 177-201 ◽  
Author(s):  
Maurice Coakley
Keyword(s):  
European Union ◽  
European Integration ◽  
Global Financial Crisis ◽  
The European Union ◽  
Eurozone Crisis ◽  
Power Structures ◽  
Fully Integrated ◽  
The Global Financial Crisis ◽  
Integration Project ◽  
The Eu

For Ireland – along with Spain, Portugal and Greece – membership of ‘Europe’ was seen as an opportunity to escape their historical legacy of ‘underdevelopment’ and become fully integrated into core positions in the global system. Each of these states, and especially Ireland experienced significant growth in the European Union but once the global financial crisis struck, they suffered a deep economic and social crisis, and came to be categorised once again as ‘peripheral’ to Europe. This acute recurrence of a core-periphery divide in the European Union has been accompanied by a rapid diminution of democracy in the EU and its transformation into an increasingly coercive formation. The deprivation programmes imposed by the EU on the peripheral societies has not only damaged growth in the European economy, they have hugely diminished the legitimacy of the European integration project. The essay explores the roots of Europe’s changing power structures and assesses the implications of the Eurozone crisis for the future of the European integration project.

scholarly journals THE EFFICIENCY OF MANUFACTURING TRADE BETWEEN TURKEY AND THE EUROPEAN UNION

2019 ◽  
Vol 7 (2) ◽  
pp. 591-608
Author(s):  
Memduh Alper DEMİR ◽  
Mustafa BİLİK ◽  
Utku UTKULU
Keyword(s):  
European Union ◽  
Global Financial Crisis ◽  
Stochastic Frontier ◽  
Trade Flow ◽  
Efficiency Score ◽  
Trade Flows ◽  
The European Union ◽  
Manufacturing Trade ◽  
The Global Financial Crisis ◽  
The Eu

In this study, the manufacturing trade efficiency of Turkey with the European Union-25 (EU-25) is examined by applying stochastic frontier gravity model over the period of 2006–2016. In addition, this study is analyzed whether there is a convergence in efficiency of manufacturing trade between Turkey and the EU-25. Findings show that Turkey’s average trade efficiency score is 56,3% and it ranged from 0,01% to 92,5% for all countries. Manufacturing trade flow of Turkey is significantly affected by income, market size of the trading partner and the distance between them. The findings also suggest that trade flows are affected by the global financial crisis.

Policy Versus Praxis: Has the European Union Failed to Respond to the Refugee Crisis?

World Affairs ◽  
2020 ◽  
Vol 183 (4) ◽  
pp. 315-342
Author(s):  
Sedef Eylemer ◽  
Nagihan Söylemez
Keyword(s):  
European Union ◽  
National Level ◽  
Burden Sharing ◽  
Refugee Crisis ◽  
Main Argument ◽  
The European Union ◽  
National Interests ◽  
Classical Realism ◽  
Supranational Institutions ◽  
The Eu

This study analyzes the effects of supranational governance on the refugee crisis in the European Union (EU). The main argument is that the supranational institutions of the EU have often failed to adequately manage the refugee crisis according to its foundational principles of fair burden sharing and solidarity. This failure has gradually discredited the Union’s basic normative principles such as solidarity, hospitality, and respect for human rights. We show that the gaps between certain policies adopted at the Union level and the practices at the national level have widened, and this has led to a familiar defeat of the normative domain by realpolitik, following some central tenets of classical realism. We aim to show that in several areas of EU policy, as well as how individual states have responded to them, national interests and burden shirking, rather than sharing, have unfortunately prevailed.

European experience in transition to circular economy

2020 ◽  
Vol 19 (4) ◽  
pp. 598-617 ◽  
Author(s):  
S.V. Ratner
Keyword(s):  
European Union ◽  
Circular Economy ◽  
Raw Materials ◽  
Action Plan ◽  
National Level ◽  
The European Union ◽  
Scientific Methods ◽  
European Experience ◽  
General Scientific ◽  
The Eu

Subject. The article considers the concept of circular economy, which has originated relatively recently in the academic literature, and is now increasingly recognized in many countries at the national level. In the European Union, the transition to circular economy is viewed as an opportunity to improve competitiveness of the European Union, protect businesses from resource shortages and fluctuating prices for raw materials and supplies, and a way to increase employment and innovation. Objectives. The aim of the study is to analyze the incentives developed by the European Commission for moving to circular economy, and to assess their effectiveness on the basis of statistical analysis. Methods. I employ general scientific methods of research. Results. The analysis of the EU Action Plan for the Circular Economy enabled to conclude that the results of the recent research in circular economy barriers, eco-innovation, technology and infrastructure were successfully integrated into the framework of this document. Understanding the root causes holding back the circular economy development and the balanced combination of economic and administrative incentives strengthened the Action Plan, and it contributed to the circular economy development in the EU. Conclusions. The measures to stimulate the development of the circular economy proposed in the European Action Plan can be viewed as a prototype for designing similar strategies in other countries, including Russia. Meanwhile, a more detailed analysis of barriers to the circular economy at the level of individual countries and regions is needed.

Ocena antykryzysowej polityki gospodarczej Stanów Zjednoczonych i wybranych państw członkowskich Unii Europejskiej w latach 2005–2014

2016 ◽  
pp. 26-46
Author(s):  
Marcin Jan Flotyński
Keyword(s):  
United States ◽  
European Union ◽  
Financial Markets ◽  
Global Economy ◽  
Global Financial Crisis ◽  
The United States ◽  
The European Union ◽  
High Volatility ◽  
The Global Financial Crisis ◽  
Domestic Products

The global financial crisis in 2007–2009 began a period of high volatility on the financial markets. Specifically, it caused an increased amplitude of fluctuations of the level of gross domestic products, the level of investment and consumption and exchange rates in particular countries. To address the adverse market circumstances, governments and central banks took actions in order to bolster the weakening global economy. The aim of this article is to present the anti-crisis actions in the United States and selected member states of the European Union, including Poland, and an assessment of their efficiency. The analysis conducted indicates that generally the actions taken in the United States in response to the crisis were faster and more adequate to the existing circumstances than in the European Union.

Adapting the European System of Financial Supervision (ESFS) to the EEA Two-Pillar Structure – A Workable Solution?

2019 ◽  
Vol 16 (5) ◽  
pp. 557-591
Author(s):  
Andri Fannar Bergþórsson
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
National Level ◽  
Financial Supervision ◽  
Member States ◽  
Eu Member States ◽  
European System ◽  
Pillar Structure ◽  
The Global Financial Crisis ◽  
The Eu

In response to the global financial crisis, the European System of Financial Supervision (ESFS) was created in 2010. Supranational bodies were established for different financial sectors to act as supervisors of sorts for national-level supervisors in EU Member States. This article focuses on how the system was adapted to three EFTA States that are not part of the EU but form the internal market along with EU Member States through the EEA Agreement – Iceland, Norway and Lichtenstein (EEA EFTA States). The aim is to clarify how ESFS has been incorporated into the EEA agreement and to discuss whether this a workable solution for the EEA EFTA States that have not transferred their sovereignty by name in the same manner as the EU Member States. One issue is whether the adaptation has gone beyond the limits of the two-pillar structure, as all initiative and work stem from the EU supranational bodies and not the EFTA pillar.

Moving Targets

2001 ◽  
Vol 34 (7) ◽  
pp. 742-767 ◽  
Author(s):  
RAINER EISING ◽  
NICOLAS JABKO
Keyword(s):  
European Union ◽  
National Level ◽  
Electricity Supply ◽  
The European Union ◽  
Moving Targets ◽  
National Interests ◽  
Institutional Dynamics ◽  
Electricity Supply Industry ◽  
Supply Industry

After 10 years of controversial negotiations, in 1996 the European Union finally took action to liberalize the electricity supply industry. Given the intensity of bilateral contacts between France and Germany, the reform has often been presented as a straightforward intergovernmental deal. This article argues that the French-German deal was only the tip of the iceberg. Perceptions of national interests evolved considerably in both countries. The most important cause for these changes was at the European Union (EU) level, not at the national level. The institutional dynamics of EU negotiations induced a series of preference changes and key political realignments at the national level.

scholarly journals Foreign Capital in Poland During Recession

2015 ◽  
Vol 16 (2) ◽  
pp. 45-59
Author(s):  
Mirosław Wypych
Keyword(s):  
Foreign Capital ◽  
Global Financial Crisis ◽  
Economic Downturn ◽  
The European Union ◽  
System Transformation ◽  
Foreign Investors ◽  
Scientific Hypothesis ◽  
National Bank ◽  
The Global Financial Crisis ◽  
Parent Companies

AbstractThe system transformation which started in the last decade of the previous century and the accompanying transition into market oriented economy have contributed to the increase of foreign investors’ interest in committing their capital in Poland. The interest grew even more after Poland joined the European Union. With limited national financial resources and great demand for the same, foreign investment has been a desirable factor supporting and accelerating economic growth.The objective of this paper is to evaluate the changes in the level and structure of foreign capital in Poland in the years 2008–2013, that is during the period of economic downturn following the global financial crisis. The point is, first of all, to find an answer to the following question: to what extent has the economic destabilisation caused by the crisis influenced the decisions of foreign investors concerning investing their capital in Poland? This allows to verify the following scientific hypothesis: during crisis stability of the financial system of the country in which parent companies have their seats is more important for foreign investors than financial security of the host country. The analysis covers total foreign capital, that is both direct and portfolio investment, as well as derivatives and credit facilities. The empirical part of the study has been based on the information published by the National Bank of Poland.

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