240 research outputs found
Free Trade Agreements, Institutions and the Exports of EasternPartnership Countries
No full textFollowing popular protests at home and the fall of the government, Ukraine reversed course andjoined Georgia and Moldova in signing Association Agreements in June 2014. This article hastwo main aims. First, using a gravity model of trade, it estimates the effects of deep and shallowfree trade agreements for the EaP (Eastern Partnership) states with Russia and the EU respectively.Second, by relating the outcomes of the first estimation to the quality of in stitutions, proxied withthe level of democracy and the level of corruption in the selected countries, the paper estimates theeffect on exports of changes in the quality of institutions. The main results show that the EaP coun-tries gain significantly from free trade agreements with the EU but little if anything from free tradeagreements with Russia, and that improvements in the quality of institutions in EaP countries haveplayed an important role in fostering exports.The authors acknowledge the support and collaboration of Project ECO2014-58991-C3-2-R funded by theSpanish Ministry of Economy and Competitiveness and of Project ‘Production Networks and Economic Integration’ fundedby Fundación Caja Castellón-Bancaja
Can free trade help convert the ‘Arab Spring’ into permanent peace and democracy?
No full textUsing a panel gravity model of trade for the period 1995–2010, this paper estimates the potential for increased intra-regional trade among 10 countries of the southern and eastern Mediterranean coast. It examines how closer integration through the EU’s revised neighborhood policy can encourage democratisation and conflict resolution. The main results indicate that while the gains realized to date from regional integration have been small, significant potential gains from deep integration exist. The paper proposes that the EU starts by negotiating deep and comprehensive free trade agreements with Egypt, Israel and Jordan provided these countries also negotiate them with each other.Inmaculada Martínez-Zarzoso gratefully acknowledges the financial support received from the research project (ECO2010-15863) granted by the Spanish Ministry of Science and
Innovation
Western enterprises on eastern markets: The German perspective
No full textThe paper offers a vision of the future of cross-border activities between Germany and the Central and East European reform countries. It provides a comprehensive theoretical framework and it presents some stylized facts. It focuses on three prominent areas: trade in goods and services, off-shore processing and foreign direct investment. Although trade in goods and services is still the dominant form of cross-border activities, other forms make up mightily. Industry and country variables strongly influence the type of activities. Trade and off-shore processing are predominantly derived from comparative advantages (especially cheap labour) in Heckscher- Ohlin industries. Foreign direct investment, however, can be found mainly in (mobile) Schumpcter industries.
From Natural Resources to Human Rights
No full textPer Magnus Wijkman was the first foreign observer to urge Iceland in print to regulate its fisheries by price. This was in 1975, nine years before the Icelandic fishing quota system came into effect, a system judged discriminatory and unconstitutional by the Supreme Court of Iceland in 1998 (but not in 2000!) as well as by the United Nations Committee on Human Rights in 2007, principally because the advice given by Wijkman and others was not heeded. This paper discusses the human rights aspects of natural resources management in view of the International Covenant on Civil and Political Rights which stipulates the inalienable rights of nations to the rents from their natural resources
Double Diversification with an Application to Iceland
No full textExcessive concentration increases national risk in an uncertain world. This paper views economic and political diversification as an essential aspect of national risk management aimed at promoting efficiency, growth, and welfare. The paper first presents economic and political diversification side by side in a cross-country framework and discusses how they interact and encourage more stable long-run economic growth. Thereafter, the paper considers Iceland as a case study of the intertwined effects of insufficient economic and insufficient political diversification. Dominated for decades by the fishing industry, the Icelandic economy is more diversified than before following the financial crisis of 2008 with tourism now generating more foreign exchange than fisheries. The paper ends with some general policy conclusions
- …
