WorldWideScience

Sample records for european integrated market

  1. Integration of European Bond Markets

    DEFF Research Database (Denmark)

    Christiansen, Charlotte

    2014-01-01

    I investigate the time variation in the integration of EU government bond markets. The integration is measured by the explanatory power of European factor portfolios for the individual bond markets for each year. The integration of the government bond markets is stronger for EMU than non-EMU memb......I investigate the time variation in the integration of EU government bond markets. The integration is measured by the explanatory power of European factor portfolios for the individual bond markets for each year. The integration of the government bond markets is stronger for EMU than non...

  2. Global integration of European tuna markets

    Science.gov (United States)

    Jiménez-Toribio, Ramòn; Guillotreau, Patrice; Mongruel, Rémi

    2010-07-01

    This paper evaluates the degree of integration between the world market and the major European marketplaces of frozen and canned tuna through both vertical and horizontal price relationships. Spatial linkages are investigated horizontally in order to estimate the connection between the European market and the world-wide market on the primary stage of the value chain. One of the key results is the high level of market integration at the ex-vessel stage, and the price leadership of yellowfin tuna over skipjack tuna. The same approach is applied at the ex-factory level. Basically, the European market for final goods appears to be segmented between the Northern countries consuming low-priced canned skipjack tuna imported from Asia (mainly Thailand) and the Southern countries (Italy, Spain) processing and importing yellowfin-based products sold at higher prices. France appears to be an intermediate market where both products are consumed. The former market is found to be well integrated to the world market and can be considered to be competitive, but there is a suspicion of market power being exercised on the latter. Price relationships are therefore tested vertically between the price of frozen tuna paid by the canneries and the price of canned fish in both Italy and France. The two species show an opposite pattern in prices transmission along the value chain: price changes along the chain are far better transmitted for the “global” skipjack tuna than for the more “European” yellowfin tuna. The results are discussed, along with their implications for the fishing industry.

  3. The benefits of integrating European electricity markets

    International Nuclear Information System (INIS)

    Newbery, David; Strbac, Goran; Viehoff, Ivan

    2016-01-01

    The European Commission's Target Electricity Model (TEM) aims to integrate EU electricity markets. This paper estimates the potential benefit of coupling interconnectors to increase the efficiency of trading day-ahead, intra-day and balancing services across borders. Further gains are possible by eliminating unscheduled flows and avoiding the curtailment of renewables with better market design. In the short run the gains could be as high as €3.9 billion/yr, more than 100% of the current gains from trade. About one-quarter of this total comes from day-ahead coupling and another third from shared balancing. If shared balancing is so valuable, completing the TEM becomes more urgent, and regulators should ensure these gains are paid to interconnectors to make the needed investment in the cross-border links more commercially profitable. - Highlights: •The benefits from day-ahead market coupling are €1 bn/yr. •Intra-day and balancing benefits add a further €1.3 bn/yr. •Total benefits including removing unscheduled flows could be €3.4 bn/yr. •Sharing balancing and reserves is high priority. •Rewarding interconnectors for all services reduces barriers to expansion.

  4. Integration of European Banking and Financial Markets

    OpenAIRE

    Marques Ibanez, David; Molyneux, Philip

    2002-01-01

    This paper investigates banking and capital market developments in Europe and the moves towards the creation of a single financial services market. A critical element in the integration process is the success of the EU's Financial Services Action Plan (FSAP). This seeks to introduce a wide range of legislation aimed at reducing barriers and promoting cross-border trade in financial services - especially for capital markets and retail / SME financial service areas. As was the case in 1992, it ...

  5. Energy markets and European Integration: The World Energy Council role

    International Nuclear Information System (INIS)

    Murray, J.

    2002-01-01

    Energy market reform brings many benefits. Central and East Europe's challenge is to establish such markets when, at list in the case of electricity, the established market economies are still wrestling with how to apply competitive principles to this market. Design challenges include the natural monopoly elements within the electricity supply chain and the fact that it is, in practical terms, as essential social service. There is no one single model suitable to all markets at all stages of development. At the same time, there is a need for sustainable energy pricing, which means prices should cover all costs, with transparent and time-limited subsidies bringing the afford ability gap. Cross-border integration extends the benefits available from market reform by overcoming constraints at the national level and by broadening the geographical limits of a market. The World Energy Council works with its Central and East European members to analyse, understand and meet these challenges. (author)

  6. Market integration and market structure in the European soft drinks industry: always Coca-Cola?

    OpenAIRE

    Matraves, Catherine

    1999-01-01

    This paper focuses on the question of European integration, considering whether the geographic level at which competition takes place differs across the two major segments of the soft drinks industry: carbonated soft drinks and mineral water. Our evidence shows firms are competing at the European level in both segments. Interestingly, the European market is being integrated through corporate strategy, defined as increased multinationality, rather than increased trade flows. To interpret these...

  7. European Integration, Labour Market Dynamics and Migration Flows

    Directory of Open Access Journals (Sweden)

    Martinoia, Michela

    2011-06-01

    Full Text Available The paper has two objectives. Firstly, we wish to evaluate whether a greater economic integration has effects, and of what type, on migration flows from Central and Eastern Europe (New Member States of the EU, NMS towards the fifteen countries of the European Union (EU-15. Secondly, we wish to understand what effect the migration flows from the NMS have on the labour market of the receiving countries in the EU-15. The most suitable theoretical context that seems to summarise European labour market characteristics is that of the insider/outsider model by Layard, Nickell and Jackman (Layard et al., 1991. We have modified the above mentioned model by introducing two innovations. Firstly, we constructed three measures that act as a proxy for economic integration: the Intra Regional Trade Index (IRTI, Global Trade Index (GTI and Financial Market Integration (FMI. Then we placed the three indicators into the insider/outsider model to arrive at a modified version of Layard, Nickell and Jackman (Layard et al., 1991. The second innovative contribution was the introduction of an equation modelling migration flows. The creation of this equation is inspired by the neo-classical approach to migration theory (Harris-Todaro, 1970. The theoretical model, based on rational expectations, has been solved to find the equilibrium solution and the impact multipliers. We then carried out an empirical analysis, which involved estimating a Structural Vector Autoregression Model (SVAR. The aim of this estimation was to evaluate, on the one hand, the effect that greater European integration (a positive shock to the integration indicators has on migration flows, and, on the other, to measure the type of effect that migration flows could have on the labour market of the EU-15 countries, considered as a single entity. The results of our empirical evidence show that economic integration does generate significant effects on migration flows from the enlargement countries

  8. [European integration and health policies: repercussions of the internal European Market on access to health services].

    Science.gov (United States)

    Guimarães, Luisa; Giovanella, Lígia

    2006-09-01

    This article explores the health policy repercussions of countries' regional integration into the European Union. The aim is to review the regulation of access in other countries, with the conclusion of the single European market and the free circulation of persons, services, goods, and capital. The article begins by reviewing the various forms of integration and describes the expansion and institutionalization of Community agencies. The repercussions of European integration on health policies and regulation of access are analyzed. Market impacts on health result from Treaty directives and internal policy adjustments to free circulation. Health services access is gradually regulated and granted by rulings. Projects along borders illustrate the dynamics where differences are used to achieve comprehensive care. In the oldest integration experience, the market regulation has generated intentional and non-intentional impacts on the health policies of member states, regardless of the organizational model. Knowledge and analysis of this experience signals challenges for the Southern Cone Common Market (Mercosur) and adds to future debates and decisions.

  9. Integration project of regional markets in Europe (European directive)

    International Nuclear Information System (INIS)

    Gonzalez Fernandez-Castaneda, J. J.

    2010-01-01

    The article presents the current situation of the Day-Ahead electricity markets in the different countries and Regions along West Europe. It describes the different possibilities applied to congestion management in the borders between countries and price areas, and the options employed to couple Day-ahead markets to form regional markets in Europe. Finally, it presents the initiative to Price couple Regional markets (PCR) that is being developed by Nord pool spot, EPEX Spot and OMEL with the objective to advance towards the integration of the markets that they operate in the internal Electricity Market. (Author)

  10. Integration and shock transmissions across European electricity forward markets

    International Nuclear Information System (INIS)

    Bunn, Derek W.; Gianfreda, Angelica

    2010-01-01

    New results are presented relating to the integration of the French, German, British, Dutch and Spanish power markets at day-ahead, week-ahead, one month-ahead and two month-ahead lead times. Overall, there is evidence of market integration, increasing over time, despite an underlying inefficiency in each market with respect to the forward and spot price convergence. The spatial analysis, on a financial dimension, is undertaken using causality tests, cointegration and impulse-response techniques, for both price levels and volatilities. In general we find less influence of the size and proximity of neighbouring markets than other studies, more integration at baseload than peak, and, surprisingly, less integration in forwards than spot prices. (author)

  11. The internationalisation of the Spanish food industry: the home market effect and European market integration

    Energy Technology Data Exchange (ETDEWEB)

    Serrano, R.; García-Casarejos, N.; Gil-Pareja, S.; Llorca-Vivero, R.; Pinilla, V.

    2015-07-01

    The objective of this study was to analyse, from a long-term perspective, the factors determining the process of the internationalisation of the Spanish agrifood industry. The paper concentrates on the empirical verification of the existence of a home market effect in the food and drink industries in Spain and on the effects on trade flows of integration into the European Union. With this aim in mind, we took into account the latest contributions to the estimation of the gravity equation for a sample of export flows from 13 agrifood subsectors between 1970 and 2012, with a destination of 175 markets. From the results of the study the existence of the “home market effect” stands out as the determining factor of the increasing process of internationalisation in the majority of the subsectors of the food industry. On this point, the presence of this effect is remarkable in the most dynamic industries, where the process of restructuring caused by the development of the internal market was more intense. Furthermore, the influence of the process of European integration has been shown by the literature to be a very important factor. Our results qualify in part the results of previous studies, since the positive effect appeared later than expected. The positive effects did not appear until the completion of the process of transition by the dismantling of the barriers established in the treaty of accession to the European Union. (Author)

  12. Economic and financial integration in emerging markets: A European policy

    Directory of Open Access Journals (Sweden)

    Theodoropoulos Theodore E.

    2005-01-01

    Full Text Available This paper extends to test if the same short-run increase in cyclical volatility arising from financial integration is observed in this specific sample of "emerging markets". This work finds signs that, contrary to other emerging markets, this does not happen: for the future member states financial integration, similarly to the outcome observed in mature market economies, reduces cyclical volatility both in the short and in the long run. Weak indications are found that this may happen partially due to the anchoring of expectations provided by the EU Accession, and to the more robust institutional framework imposed by this process onto the countries in question.

  13. European wood pellet market integration - A study of the residential sector

    International Nuclear Information System (INIS)

    Olsson, Olle; Hillring, Bengt; Vinterbaeck, Johan

    2011-01-01

    The integration of European energy markets is a key goal of EU energy policy, and has also been the focal point of many scientific studies in recent years. International markets for coal, oil, natural gas and electricity have previously been investigated in order to determine the extent of the respective markets. This study enhances this field of research to bioenergy markets. Price series data and time series econometrics are used to determine whether residential sector wood pellet markets of Austria, Germany and Sweden are integrated. The results of the econometric tests show that the German and Austrian markets can be considered to be integrated, whereas the Swedish market is separate from the other two countries. Although increased internationalization of wood pellet markets is likely to contribute to European price convergence and market integration, this process is far from completed. (author)

  14. Research document no.31. Integration of European gas markets: nascent competition in a diversity of models

    International Nuclear Information System (INIS)

    Finon, D.

    2002-01-01

    The idea of building an integrated European gas market based on competitive trade, like a gas lake supplied indifferently by remote, intra-European and national sources with the help of active market places allowing arbitration and price convergence, is far from being reached. In fact it depends upon two conditions: the deregulation of each gas market at national level, and at the upper level of the market the change in contractual relations between remote gas producers and buyers, who currently make the relations rigid with long-term transactions and limit opportunities for exchange on a competitive basis. This document analyses at two levels, namely national and European, the changing shape of the European gas markets under the effects of the market reforms and their chance of integration. Firstly the former two-level European gas market, the legacy of which determines the constraints on competition development more strongly than in electricity, are characterized. Secondly, in order to characterize the potential for development of competition, the main traits of each national gas market are identified in terms of market attractiveness and market accessibility for the incumbents competitors. Thirdly, dynamics of market development towards market integration are inferred at European level from these characteristics and from the possibility for development of new forms of gas trade between foreign producers, suppliers and users at national level. (A.L.B.)

  15. Research document no.31. Integration of European gas markets: nascent competition in a diversity of models

    Energy Technology Data Exchange (ETDEWEB)

    Finon, D

    2002-07-01

    The idea of building an integrated European gas market based on competitive trade, like a gas lake supplied indifferently by remote, intra-European and national sources with the help of active market places allowing arbitration and price convergence, is far from being reached. In fact it depends upon two conditions: the deregulation of each gas market at national level, and at the upper level of the market the change in contractual relations between remote gas producers and buyers, who currently make the relations rigid with long-term transactions and limit opportunities for exchange on a competitive basis. This document analyses at two levels, namely national and European, the changing shape of the European gas markets under the effects of the market reforms and their chance of integration. Firstly the former two-level European gas market, the legacy of which determines the constraints on competition development more strongly than in electricity, are characterized. Secondly, in order to characterize the potential for development of competition, the main traits of each national gas market are identified in terms of market attractiveness and market accessibility for the incumbents competitors. Thirdly, dynamics of market development towards market integration are inferred at European level from these characteristics and from the possibility for development of new forms of gas trade between foreign producers, suppliers and users at national level. (A.L.B.)

  16. European market integration for gas? Volume flexibility and political risk

    International Nuclear Information System (INIS)

    Asche, Frank; Tveteras, Ragnar; Osmundsen, Petter

    2002-01-01

    Long-term take-or-pay contracts regulating gas exports to the Continent are described and analyzed. We thereafter examine whether the German gas market is integrated. Time series of Norwegian, Dutch and Russian gas export prices to Germany in 1990-1998 are examined. Cointegration tests show that that the different border prices for gas to Germany move proportionally over time, indicating an integrated gas market. We find differences in mean prices, with Russian gas being sold at prices systematically lower than Dutch and Norwegian gas. Among the explanatory factors for price discrepancies are differences in volume flexibility (swing) and perceived political risk

  17. European energy market liberalisation and integration. An assesment of the new EU energy package

    International Nuclear Information System (INIS)

    De Joode, J.; Van Oostvoorn, F.

    2008-06-01

    The new energy package presented by the European Commission (EC) in September 2007 contains a number of diverse, and sometimes controversial, measures aimed at bringing current European energy markets closer to the ideal of one competitive and fully integrated market. We discuss the flaws and merits of the package and signal a number of concerns regarding the ultimate effectiveness of the new energy market Directive into which the proposed package will culminate

  18. Integrated marketing sphere of physical culture and sports in terms of European integration Regional Center Research

    Directory of Open Access Journals (Sweden)

    Oleksandr Popov

    2015-06-01

    Full Text Available Purpose: exposure of conceptual and strategic positions of the complex marketing of sphere of physical culture and sport in the conditions of European integration of regional center. Material and Methods: analysis of literary sources, analysis of documents of legislative, normatively-legal and programmatic maintenance, analysis of the systems, questioning as a questionnaire. Results: the analysis of the systems of terms of development of sphere of physical culture and sport is carried out by the study of modern tendencies, interests of young people and habitants of regional center; complex description of conceptual and strategic positions of the relatively complex marketing of sphere of physical culture and sport is presented in the conditions of European integration of regional center. Conclusions: it is set that the decision of tasks in relation to conditioning for development of sphere of physical culture and sport must come true with the observance of certain principles; got founding in relation to development of marketing plan of forming of sporting image Kharkiv.

  19. Contagion across and integration of Central and Eastern European stock markets: evidence from intraday data

    Czech Academy of Sciences Publication Activity Database

    Égert, B.; Kočenda, Evžen

    -, č. 798 (2005), s. 1-30 Institutional research plan: CEZ:MSM0021620846 Keywords : contagion and spillover effects * market integration * European emerging market s Subject RIV: AH - Economics http://www.bus.umich.edu/KresgeLibrary/Collections/WorkingPapers/wdinum.htm

  20. Financial Integration of European Money Market: from EMU to the Global Crisis and Beyond

    OpenAIRE

    Avadanei Andreea; Avadanei Anamaria; Ghiba Nicolae

    2010-01-01

    The scope of this article is to illustrate the general issues relevant for understanding the implications of the global crisis on European money market integration. We structured our paper on chapters that present the evolution of the considered market from the launch of euro until the financial turmoil, its main features in the actual context, and the central banks response to the rising tensions on the money market. Given its function of channeling funds to enable banks to cover their most ...

  1. Reassessing the integration of European electricity markets: A fractional cointegration analysis

    International Nuclear Information System (INIS)

    Menezes, Lilian M. de; Houllier, Melanie A.

    2016-01-01

    This study extends existing literature on the assessment of electricity market integration in Europe, by developing and testing hypotheses on the convergence of electricity wholesale prices, and adopting a time-varying fractional cointegration analysis. In addition, the potential impacts of some special events that may affect system capacity (new interconnection, market coupling, increase in share of intermittent generation) on spot and forward markets are considered and evaluated. Daily spot prices from February 2000 to March 2013 of nine European electricity spot markets (APX-UK, APX-NL, Belpex, EPEX-FR, EPEX-DE, IPEX, Nordpool, Omel and OTE) and month-ahead prices in four markets (French, British, German and Dutch) from November 2007 to December 2012 are investigated. Results show that unit root tests, which are generally used in the literature to test market integration, are inadequate for assessing electricity spot market convergence, because spot prices are found to be fractionally integrated and mean-reverting time series. Furthermore, spot price behaviour and their association with different markets change over time, reflecting changes in the EU electrical system. One-month-ahead prices, by contrast, were found to have become more resilient to shocks and to follow more stable trends. - Highlights: • We examine electricity market convergence in the EU. • Common price dynamics are affected by changes in interconnection and capacity. • Forward markets have increased in resilience. • Germany's nuclear plant closures had an adverse effect on most European electricity markets.

  2. Toward the integration of European natural gas markets:A time-varying approach

    International Nuclear Information System (INIS)

    Renou-Maissant, Patricia

    2012-01-01

    Over the past fifteen years, European gas markets have radically changed. In order to build a single European gas market, a new regulatory framework has been established through three European Gas Directives. The purpose of this article is to investigate the impact of the reforms in the natural gas industry on consumer prices, with a specific focus on gas prices for industrial use. The strength of the relationship between the industrial gas prices of six western European countries is studied by testing the Law of One Price for the period 1991–2009. Estimations were carried out using both cointegration analysis and time-varying parameter models. Results highlight an emerging and on-going process of convergence between the industrial gas prices in western Europe since 2001 for the six EU member states. The strength and the level of convergence differ widely between countries. Strong integration of gas markets in continental Europe, except for the Belgian market, has been established. It appears that the convergence process between continental countries and the UK is not completed. Thus, the integration of European gas markets remains an open issue and the question of how far integration will proceed will still be widely discussed in the coming years. - Highlights: ► We investigate the integration of European natural gas markets. ► We use both cointegration analysis and time-varying parameter models. ► We show the failure of cointegration techniques to take account of evolving processes. ► An emerging and on-going process of convergence between the industrial gas prices is at work. ► Strong integration of gas markets in continental Europe has been established.

  3. LABOR MARKET DEVELOPMENT UNDER ROMANIA'S INTEGRATION IN THE EUROPEAN UNION

    Directory of Open Access Journals (Sweden)

    NĂSTASIE MIHAELA – ANDREEA

    2014-10-01

    Full Text Available In all conditions of time and space, economic activity involving work objectively factor designed to exploit natural resources and monetary system in its interest. According to Adam Smith, the work is a primary factor, the original production was considered by him as the sole source of national wealth. This factor of production can be achieved through labor market that is in a competitive market economy. Transactions in this market have as their object or labor work. Employment policy work focus on boosting production and the flexibility of labor market through an easy tax for economic entities to make hiring, increasing the occupancy of the active population. In Romania, the pressures exerted on the labor market increasingly higher while the economy is subject to extensive qualitative transformations concerning privatization, restructuring and upgrading.

  4. The pivotal role of TSOs in European energy market integration

    International Nuclear Information System (INIS)

    2015-05-01

    Concerns about environmental sustainability and dwindling supplies of conventional fossil fuels are prompting ever stronger interest in greener sources of energy. But the development and exploitation of renewable and dynamic sources takes time and necessitates the seamless integration of new infrastructure into existing power grids. At the same time, transmission system operators (TSOs) are duty-bound to maintain and expand these grids and have the financial resources to meet these obligations. Meanwhile, consumers' top priorities are security of supply, competitive pricing and safety. In France, some transmission lines are impacted by cross-border exchanges on the Franco-Belgian and Franco-German borders. Therefore, in the available transfer capacity (ATC) model, the allocable capacity at one of these borders has to be chosen before the allocable capacity at the second one can be deduced. The algorithm in Flow-Based makes this choice automatically, depending on where the capacity is most urgently needed

  5. Independents in European Gas Markets after liberalisation - downstream integration of upstream oil and gas companies

    International Nuclear Information System (INIS)

    Eikeland, Per Ove

    2005-01-01

    A central objective of gas market liberalisation in Europe in the 1990s was to increase competition by opening end-use markets for independent suppliers. Upstream oil and gas companies in Europe reacted to this opportunity by announcing strategies to integrate forward in European gas markets. By late 2004, however, upstream companies still recorded generally weak downstream strategy implementation in Europe. The article concludes that this general implementation gap should be explained by political failure in EU member states to abolish gas market barriers to entry for independents. Variation between companies in degree of implementation should be explained by variation in conditions in the companies' home markets / wider business spheres and internal company factors. (Author)

  6. The European electricity market

    International Nuclear Information System (INIS)

    1988-01-01

    The creation of a single European market also will have its effects on the power and electricity sector. Expectations tied to this abandonment of borders on the electricity market are different: some hope for a reduction of energy costs, others fear safeguarded supplies to be at risk. It cannot be fully judged at present what the situation will be on a strongly integrated, European power and electricity market, and the brochure in hand is intended to present a first survey of the situation from the perspective of the power industry and energy policy, concentrating on main aspects. The survey is compiled in the form of reprints of journal articles written on this topic by a number of well-known German experts in the field. (orig./HP) [de

  7. European Economic Integration

    Science.gov (United States)

    Huston, James A.

    1971-01-01

    Recounts the history and problems of European Economic Integration from the first post World War II organization, the OEEC, to the EEC (Common Market) and the EFTA. Suggestions for further reading are included. (JB)

  8. Impact of the carbon price on the integrating European electricity market

    International Nuclear Information System (INIS)

    Aatola, Piia; Ollikainen, Markku; Toppinen, Anne

    2013-01-01

    We study the impact of the carbon price on the integrating electricity market in the EU. Our theoretical framework suggests that the price of carbon has a positive but uneven impact on electricity prices depending on the marginal production plant. The carbon price may increase price differences in the short run. We apply time series analysis on daily forward data from 2003 to 2011 and investigate whether we can find empirical evidence for our analytical findings. Our results support the hypotheses that integration in electricity prices has increased over time and that the carbon price has a positive but uneven impact on the integration of prices. - Highlights: • We model the integrating European electricity market under emissions trading scheme. • We examine the impact of carbon price on the electricity market prices. • We test theoretical hypotheses with econometric models. • Results show carbon price has a positive but uneven impact on electricity prices. • Integration among electricity prices has increased during 2003–2011

  9. An integrated pan-European ancillary services market for frequency control

    International Nuclear Information System (INIS)

    Scherer, Marc; Zima, Marek; Andersson, Göran

    2013-01-01

    Real-time balancing of mismatches between consumption and production is one of the key elements for the secure operation of power systems. This takes place within the framework of ancillary services managed by respective national transmission system operating companies. The objective of this paper is to investigate the option of one integrated pan-European ancillary services market. Our contribution is twofold: quantifying the potential benefit of such an option and outlining a possible approach to such an option highlighting its positive properties as well as risks and challenges. In several recently published considerations of pan-European electricity supply models this topic has not been adequately addressed, but we believe it is one of the crucial subjects in shaping the future electricity supply in Europe. -- Author-Highlights: •We investigated the option of a one-area market for frequency control in Continental Europe. •For the current situation a centralised approach may lead to a significant reduction of control reserves. •In the long run it is a possibility to avoid a tremendous increase of needed control reserves. •The implementation of an integrated market is not to be underestimated

  10. The Integration Role of European Defense Procurement in Achieving a More Competitive and Stronger European Defense Equipment Market

    Science.gov (United States)

    2015-06-01

    and systems, even monopolistic ) essence of the supply side of the defense market . There are only a few suppliers that can meet today’s complex...DEFENSE PROCUREMENT IN ACHIEVING A MORE COMPETITIVE AND STRONGER EUROPEAN DEFENSE EQUIPMENT MARKET by Kiril O. Angelov June 2015 Thesis Advisor...COMPETITIVE AND STRONGER EUROPEAN DEFENSE EQUIPMENT MARKET 5. FUNDING NUMBERS 6. AUTHOR(S) Kiril O. Angelov 7. PERFORMING ORGANIZATION NAME(S) AND

  11. Development of a model for integrated simulation of the European transmission networks and electricity markets

    International Nuclear Information System (INIS)

    Rathke, Christian

    2013-01-01

    The liberalisation of electricity markets and the increase of renewable energy generation actually causes dramatic changes for the whole European power industry. The transmission system operators in particular have to meet the challenge to ensure a stable and reliable system operation in the future. Significant changes in power generation will require a substantial extension to current inadequate original transmission grids to handle increased wide area power flows. This is the only way to avoid overloading the grid and to reduce the herefrom resulting limitations for the Pan-European cross-border trade of electricity. This work describes in detail the development of a Pan-European integrated grid and an electricity market simulation tool. For this purpose an overview about the today's structure of the European electricity industry is given initially. Afterwards the configuration of the transmission grid, the used equipment and different methods for the load flow and short circuit calculation are explained. Furthermore models for the calculation of local loads and the power plant dispatch are presented in the following chapters. Following on from this a detailed model of the European electricity industry is developed and the main functions are described by means of some exemplary simulations. The simulation tool developed in this work enables the user to calculate realistic power plant schedules and the consequent resulting physical effects on the European transmission grid. It combines a time series based simulation of the electricity market with a detailed model of the transmission grid. The highly detailing of the model offers the feasibility to execute a complete AC load flow calculation using the Newton Raphson algorithm.Therefore it is possible to identify the active as well as the reactive power flows in the grid. The results of the power flow calculation are the basis for further investigations (e. g. the short circuit calculation) and to decide on

  12. European Energy Integration in East European Countries: Real Necessity to Assure Fair Market prices for Energy Resources

    Directory of Open Access Journals (Sweden)

    Augustin IGNATOV

    2016-06-01

    Full Text Available In order to assure energy, and therefore, economic stability of East European States (hereafter EES there should be undertaken visible steps towards deeper energetic integration of the region under the coordination of EU. In such a way there will be considerably strengthened the regional economic security through creating functional mechanisms of solving current and potential energy issues including diversification of supplies and fairer market prices. Moreover, it will be possible to develop and implement more effectively energy infrastructure projects. Deeper and more functional energy integration in EES will create favorable preconditions of fostering the states’ economic development. Also, there will be considerably reduced the macroeconomic risks which could possible occur as a result of the struggle of interests of importing and supplying countries. The current paper is intended to underline the most important weaknesses in terms of energy security of EES and exemplify how efficient these problems could be tackled by cumulating common countries’ efforts in the sector. Also, it highlights the shortcomings of EU energy policy in EES and how these affect the economic prospective of the countries. Finally, it is remarked that EES need a common energy market in order to strengthen their negotiation positions in relation with supplying countries.

  13. Research document no. 24. The integration of european electric markets: from the national markets juxtaposition to the establishment of a regional market

    International Nuclear Information System (INIS)

    Finon, D.

    2000-11-01

    After the transcription of the electricity directive in national legislations, the European electricity market appears to be a vast set of juxtaposed markets which are weakly connected at the level of their wholesale contracts compartment. Referring to the technological peculiarities of electricity as a commodity, the paper identifies the direct conditions of regional integration of the electricity markets, those which would favour cross-border trade and allow to be near the normal functioning of a regional commodity market. The infrastructure network dependence and the need of a stringent technical coordination necessitate to unify the operation of the different systems and the rules of access, or at the least to come near this unification by strong coordination. A second major condition, which is not fully debated, is the increasing connexion of short-term markets, via daily physical trade and emergence of a European financial market, which could trade various standardised contracts referring to a single hourly spot price, or to prices in various delivery points. To reach such an integration, two paths are possible: either concentration into one single organised power exchange as the Nordic pool, or rules harmonization of the various power exchanges which would be a minimal requirement to allow arbitrations between them. (author)

  14. Adequate intraday market design to enable the integration of wind energy into the European power systems

    Energy Technology Data Exchange (ETDEWEB)

    Weber, Christoph [University Duisburg-Essen, Chair for Energy Economics and Management Sciences, Universitaetsstrasse 12, 45 117 Essen (Germany)

    2010-07-15

    This contribution analyses the European electricity markets with respect to their aptitude to absorb large amounts of wind energy. Thereby in a first step the market designs of the major European power markets in France, Germany, Scandinavia, Spain and UK are reviewed, with a particular focus on liquidity in the spot and intraday markets. Then some key features of the short-term adjustments required by wind energy are discussed and the necessity of sufficient liquidity in intraday markets is highlighted. For the example of the German market subsequently the discrepancy between the physical short-term adjustment needs and the traded volumes on the intraday market is analyzed. This leads to an evaluation of proposals for improving the liquidity on the short-term market, including the use of continuous spot trading like in UK or the use of intraday auctions like in Spain. (author)

  15. Electricity and gas interconnections in France. A tool for the construction of an integrated European market

    International Nuclear Information System (INIS)

    2016-06-01

    The French Energy Regulator (CRE) is publishing its report on French electricity and gas interconnections. The report makes two main conclusions: French electricity and natural gas networks are well interconnected with their counterparts in neighbouring countries and the use of interconnections has been significantly improved over the last 10 years. In terms of electricity, France's average export capacity is 13.5 GW, i.e. more than 10% of its production capacity. France is very well integrated in the European gas market and is a transit country to Spain and Italy. It has boosted its interconnection capacity in gas by 40% in 10 years. Interconnections are vital to the internal energy market and help trade between Member States. They enable European consumers to benefit from cost-effective energy by diversifying sources of supply. Since it was created, the CRE has played a leading role in this area, by fostering the development of interconnections at the French borders and by making them more efficiently used. After major efforts, the question of creating new interconnections (which constitute complex and costly projects) is now being raised. In terms of gas, the Midcat Project (a new gas interconnection between France and Spain) provides a good illustration of this question. The project will cost almost 3 billion Euros, two billion of which is being funded by France, and the decision to launch it should not be taken lightly without robust cost-benefit analyses. These studies must, in particular, identify and quantify the benefits for each country concerned as well as for the European Union, and organise the project funding in relation to these benefits. As concerns the interconnection project in the Bay of Biscay between France and Spain, overcoming technical uncertainties is an essential prerequisite before commenting on the opportunities it offers in terms of the costs and benefits that it might generate. In compliance with the law, the CRE acts on behalf of

  16. Cross-border integration in the European electricity market. Evidence from the pricing behavior of Norwegian and Swiss exporters

    International Nuclear Information System (INIS)

    Balaguer, Jacint

    2011-01-01

    This paper examines the electricity market integration process in two European areas based on the pricing behavior of Norwegian and Swiss exporters. The aim is to gain evidence for the period after the adoption of the 'Second Legislative Package' (2003). The pricing behavior of Norwegian exporters indicates that the wholesale markets for Denmark and Sweden are highly integrated. Moreover, results are fully compatible with the existence of a very competitive marketplace for electricity. This clearly contrasts with the evidence provided by Swiss exporters. In this last case, analysis revealed differences in pricing-to-market behavior between Italy, France and Germany, which indicates that exporters take advantage of international market segmentation and divergences between market structures. This outcome provides a reasonable explanation as to why price differences between countries cannot be fully attributed to transmission costs, as has been claimed in previous research. We also found cross-country convergence in levels of markups and in pricing-to-market behavior of the Swiss exporters for the first part of the period that was analyzed. The evidence is fully consistent with an initial impulse toward market integration originated by reforms implemented at the beginning of the last decade. - Highlights: → We exploit a model based on pricing-to-market behavior. → Price discrimination by Swiss exporters is found. → Nordic electricity markets are found to be already highly integrated. → Market integration was recently improved in continental area. → Results are consistent with reforms under the 'Second Legislative Package'.

  17. Cross-border integration in the European electricity market. Evidence from the pricing behavior of Norwegian and Swiss exporters

    Energy Technology Data Exchange (ETDEWEB)

    Balaguer, Jacint, E-mail: jacint.balaguer@eco.uji.es [Department of Economics, Universitat Jaume I, 12071 Castellon (Spain)

    2011-09-15

    This paper examines the electricity market integration process in two European areas based on the pricing behavior of Norwegian and Swiss exporters. The aim is to gain evidence for the period after the adoption of the 'Second Legislative Package' (2003). The pricing behavior of Norwegian exporters indicates that the wholesale markets for Denmark and Sweden are highly integrated. Moreover, results are fully compatible with the existence of a very competitive marketplace for electricity. This clearly contrasts with the evidence provided by Swiss exporters. In this last case, analysis revealed differences in pricing-to-market behavior between Italy, France and Germany, which indicates that exporters take advantage of international market segmentation and divergences between market structures. This outcome provides a reasonable explanation as to why price differences between countries cannot be fully attributed to transmission costs, as has been claimed in previous research. We also found cross-country convergence in levels of markups and in pricing-to-market behavior of the Swiss exporters for the first part of the period that was analyzed. The evidence is fully consistent with an initial impulse toward market integration originated by reforms implemented at the beginning of the last decade. - Highlights: > We exploit a model based on pricing-to-market behavior. > Price discrimination by Swiss exporters is found. > Nordic electricity markets are found to be already highly integrated. > Market integration was recently improved in continental area. > Results are consistent with reforms under the 'Second Legislative Package'.

  18. The integration of Chinese and European renewable energy markets: The role of Chinese foreign direct investments

    International Nuclear Information System (INIS)

    Lv, Ping; Spigarelli, Francesca

    2015-01-01

    In the renewable energy (RE) sectors, foreign direct investments are becoming an important mean of regional integration between China and Europe, as a result of the combined effect of Europe–China dialog on energy issues; Chinese energy policy; and Chinese Go Global policy. Using a firm level data set from the Chinese Ministry of Commerce, we perform an analysis on location choice by Chinese RE firms from 2004 to 2013, within Europe. We depict a map of “where to where” (home province vs. host country) and “who to where” (firm level characteristics vs. host country), to find out how characteristics of home and host regions affecting the integration of Chinese and European RE markets. Main results are the following. Investment pairs in RE sectors reflect a duality: firms tend to seek countries with similar institutional environment, compared with their origin regions. Countries with weak and immature institutions are attractive for immature and inexperienced Chinese firms. Main features of Chinese investors are the following: private, non-listed firms, entering through greenfield, focusing on sales. Market-seeking investors tend to enter countries with both well-developed institutional environment and industry development base. R&D-oriented investments are more likely to flow to countries with well-developed institutional environment. -- Highlights: •A map of Where to Where of Chinese investments in Europe is depicted. •Characteristics of home and host regions affect Chinese integration in Europe. •Investment pairs in renewable energy sectors reflect a duality. •Chinese firms localize in EU countries with similar institutional environment. •Through a Who to Where analysis, key features of Chinese investors are outlined

  19. European Integration and Globalization

    Directory of Open Access Journals (Sweden)

    Diana Bobica

    2010-06-01

    Full Text Available According to many, the term globalization is able to explain any phenomenon whatsoever, be it positive or negative, that takes place within the global social system. It seems like a sort of magical formula, which is to be found in the speeches of all sorts of people, be they economists, politicians, businessmen or sociologists. However this magical formula of globalization has its limitations, since it encompasses a certain amount of quibbling, beyond which not many can pass. In the context of globalization there appears the question on its role in the process of European integration. Is European integration a part of this global process or, quite on the contrary, does it present certain distinctive features, as it moulds itself differently from the globalization phenomenon? A clear-cut answer seems difficult because of the various aspects involved. Not only the general phenomenon of globalization, but also the economic integration on European level is based on the liberalization of markets and on the opening of national economies towards the exterior,having as direct consequence the intensification of trade exchanges. If from a global point of view one may talk of a market fundamentalism in that the market principles know no boundary, European integration on the other hand implies not only market economy, but also a guided and monitored action of Member Statesaccording to the needs of the whole entity, also taking into consideration - as far as possible – all aspects and consequences on social level.

  20. Integrated energy markets and varying degrees of liberalisation: price links, bundled sales and CHP production exemplified by Northern European experiences

    International Nuclear Information System (INIS)

    Jacobsen, H.K.; Fristrup, P.; Munksgaard, J.

    2006-01-01

    Liberalisation of energy markets has during the last 20 years been gradually introduced in many countries. The liberalisation has led to concerns regarding the markets' state of competition and fears that market power existence can result in less efficiency gains than what is expected from liberalisation. Concerns have also been raised as to whether specific consumer groups will be affected by limited competition in markets. Much of the concern has been concentrated on the electricity markets, but the development of energy sectors with integration of activities within natural gas, electricity and the oil sector creates the need to examine market power aspects across these markets. This paper examines the concentration trends in the Northern European markets for electricity and natural gas, combined with regional district heating aspects, especially with respect to the situation in Denmark. The situation with natural gas companies supplying to both small-scale CHP and to retail heat customers is discussed, for instance, which changes of regulatory regime for domestic heating customers should be considered when the natural gas market is being liberalised? The interlinked nature of the energy markets is described and examples of impacts from one market with limited competition to other markets with seemingly well-functioning competition are given. The specific case of large CHP production facilities with output on the regulated district heating market and the competitive Nordic electricity market is examined. How much of the fluctuations in price experienced in electricity markets should be reflected in the price of heating supplies? To which degree do the heating customers have to bear the burden of low-electricity market prices? Regulation of liberalised markets is discussed focusing on the interaction between one regulated market and the related energy markets that are liberalised. Existing regulation on the markets are compared to a situation where liberalisation

  1. Integrated energy markets and varying degrees of liberalisation: Price links, bundled sales and CHP production exemplified by Northern European experiences

    International Nuclear Information System (INIS)

    Klinge Jacobsen, Henrik; Fristrup, Peter; Munksgaard, Jesper

    2006-01-01

    Liberalisation of energy markets has during the last 20 years been gradually introduced in many countries. The liberalisation has led to concerns regarding the markets' state of competition and fears that market power existence can result in less efficiency gains than what is expected from liberalisation. Concerns have also been raised as to whether specific consumer groups will be affected by limited competition in markets. Much of the concern has been concentrated on the electricity markets, but the development of energy sectors with integration of activities within natural gas, electricity and the oil sector creates the need to examine market power aspects across these markets. This paper examines the concentration trends in the Northern European markets for electricity and natural gas, combined with regional district heating aspects, especially with respect to the situation in Denmark. The situation with natural gas companies supplying to both small-scale CHP and to retail heat customers is discussed, for instance, which changes of regulatory regime for domestic heating customers should be considered when the natural gas market is being liberalised? The interlinked nature of the energy markets is described and examples of impacts from one market with limited competition to other markets with seemingly well-functioning competition are given. The specific case of large CHP production facilities with output on the regulated district heating market and the competitive Nordic electricity market is examined. How much of the fluctuations in price experienced in electricity markets should be reflected in the price of heating supplies? To which degree do the heating customers have to bear the burden of low-electricity market prices? Regulation of liberalised markets is discussed focusing on the interaction between one regulated market and the related energy markets that are liberalised. Existing regulation on the markets are compared to a situation where liberalisation

  2. Integral or integrated marketing

    Directory of Open Access Journals (Sweden)

    Davčik Nebojša

    2006-01-01

    Full Text Available Marketing theorists and experts try to develop business efficient organization and to get marketing performance at higher, business integrated level since its earliest beginnings. The core issue in this paperwork is the dialectic and practical approach dilemma should we develop integrated or integral marketing approach in the organization. The presented company cases as well as dialectic and functional explanations of this dilemma clearly shows that integrated marketing is narrower approach than integral marketing if we take as focal point new, unique and completed entity. In the integration the essence is in getting different parts together, which do not have to make necessary the new entity. The key elements in the definition of the integral marketing are necessity and holistic, e.g. necessity to develop new, holistic entity.

  3. Convergence of European spot market prices for natural gas. A Real-Time Analysis of market integration using the Kalman filter

    International Nuclear Information System (INIS)

    Siliverstovs, Boriss; Neumann, Anne

    2005-01-01

    This paper provides a textbook example of an econometric analysis of the integration between two commodity markets and the subsequent price convergence or absence thereof. We analyze price relations between spot markets for natural gas in Europe. The European market for natural gas is currently undergoing a liberalization process with the aim of creating a single, unified market. We use time-varying coefficient estimation models, applying the Kalman filter to test whether price convergence between different locations is really taking place. Our results reveal that the construction of a pipeline between the UK and Zeebrugge (Belgium) has lead to almost perfect price convergence between theses locations; on the other hand, liberalization on the European continent does not seem to be working so far. (Author)

  4. The unavoidable increase in electricity prices in France: should the effects of the European market integration be corrected?

    International Nuclear Information System (INIS)

    Finon, D.; Glachant, J.M.

    2008-01-01

    The competitive reform will unavoidably generate a price increase for French consumers when the regulated price is removed. That increase is due to the competitive hourly rate formation system in the continental market. The system allows existing nuclear equipment of all European producers to generate a rarity income, without this triggering nuclear investment decisions due to political obstacles. The sacrifice of French consumers does not imply later price decreases failing such investments. The benefit sought by the integration of the market for European consumer benefit cannot be achieved. The rarity income from existing equipment only benefits the shareholders of companies holding existing low combustible cost equipment, including the historical French operator. This article details this nuclear rarity income analysis and reviews several compensation approaches to reconcile French consumers with the construction dynamics of a competitive European market. Such re-allotment systems need to be both simple and perceived as a compensation for potential price increase, and not alter drastically the operation of the new markets. (authors)

  5. Liberalising the European natural gas market

    International Nuclear Information System (INIS)

    Mulder, M.

    2002-01-01

    Europe's natural gas market is changing radically. The several national markets dominated by monopolistic suppliers are integrating into one European market in which production and trade are subject to competition, while transport through the networks will be unbundled and placed under regulatory influence. What will be the consequences of these changes on natural gas prices, supply security and the environment?

  6. European Market Making and Policy Duplication

    DEFF Research Database (Denmark)

    Frankel, Christian

    2013-01-01

    This paper argues that private regulation has been essential to the making of the common European market. The distinction between negative and positive integration, usually used to understand the making of the common European market, only gives us part of the picture, as it focuses on public...... authorities and the regulation issued by them, and tends to ignore private authorities. A focus on private regulation is suggested to enlarge the focus on positive and negative integration, and this is used in an analysis of EU's removal of barriers to trade from 1958 to 2000. The paper shows that private...... regulation in the form of technical standardisation has become essential to European market making....

  7. Regionalism versus integration of the EU electricity market : An open debate from the comparative and prospective analysis of regulatory regimes in the central European countries

    Energy Technology Data Exchange (ETDEWEB)

    Engoian, Alda; Mouchart, Christel

    2005-12-15

    The failure of integration of 25 national energy markets into an unique one has been clearly expressed by the European Commission in its last benchmarking report. This working paper investigate the question of the more appropriate and realistic market design to limit perverse effects linked to the gaps between Western and Eastern European electricity markets. The paper consists in comparing electricity regulations per segment of the value chain in the CECs (Czech Republic, Hungary, Poland, Slovakia) characterized by industrial structures stemming from the socialism. Our regulatory approach and the example of South-East Europe support the idea of regionalism as an interim stage towards a final integrated European market. This regionalism based on the Standard Market Design concept, with flexible principles, and simultaneously combined to national reforms would seem to be a ''key of success''. (Author)

  8. Regionalism versus integration of the EU electricity market : An open debate from the comparative and prospective analysis of regulatory regimes in the central European countries

    International Nuclear Information System (INIS)

    Engoian, Alda; Mouchart, Christel

    2005-01-01

    The failure of integration of 25 national energy markets into an unique one has been clearly expressed by the European Commission in its last benchmarking report. This working paper investigate the question of the more appropriate and realistic market design to limit perverse effects linked to the gaps between Western and Eastern European electricity markets. The paper consists in comparing electricity regulations per segment of the value chain in the CECs (Czech Republic, Hungary, Poland, Slovakia) characterized by industrial structures stemming from the socialism. Our regulatory approach and the example of South-East Europe support the idea of regionalism as an interim stage towards a final integrated European market. This regionalism based on the Standard Market Design concept, with flexible principles, and simultaneously combined to national reforms would seem to be a ''key of success''. (Author)

  9. Local Culinary Traditions in the Integration Process of Serbian Food Market with European Union

    Directory of Open Access Journals (Sweden)

    Tadeusz Czekalski

    2017-12-01

    Full Text Available Its huge area of cultivated lands (about 5 million hectares makes Serbia stand out against other states of the Balkan region. Food products are still one of the most important components of Serbian export. From 1 March 2012, when Serbia was granted the candidate status to the European Union, making ready to effectively competite with the Member States of the EU, which offer very similar products, became a chance of survival for Serbia’s agricultural and –food industry sector . A chance to increase the absorbency of the internal market creates an increasing culinary awareness in the Serbian society; despite the economic crisis, the Serbians are looking for new, previously unknown tastes or new taglines for tastes already known in Serbian cuisine. The real challenge for Serbian agriculture is the promotion of culinary tourism, which involves exhibiting the ability to compete with other Balkan countries by depicting a more diverse range of attractions. Promotion of the regional products is done by events typical for culinary tourism – festivals, culinary competitions, culinary tourist routes, as well as reconstructions of medieval cuisine. In the realities of Serbia, culinary tourism opens the opportunities for sustainable development of the periphery areas and, at the same time, makes it possible to retain old customs and traditions.

  10. European commission report on market opening

    International Nuclear Information System (INIS)

    Anon.

    2005-01-01

    Governments must step up their effort to implement measures relating to market opening within the framework of the directives on gas and electricity. Only greater integration of national markets will produce the improvements required from a competitive point of view on the domestic energy market. These are the main conclusions of the annual report on domestic electricity and gas market operation adopted by the European Commission at the beginning of January 2005. (author)

  11. Market forces in european soccer

    NARCIS (Netherlands)

    Haan, M.; Koning, Ruud H.; Witteloostuijn, A. van

    2002-01-01

    Recent decades have witnessed major changes in the market for European soccer. The most profound were the Bosman ruling, which lifted restrictions in the European labor market for soccer talent, and the introduction of the Champions' League, a high-profile international competition that generates

  12. The European Natural Gas Market

    NARCIS (Netherlands)

    Correlje, A.F.

    The European Union started the introduction of competition in the European market for natural gas. Today, mid-2016, the process of restructuring is still going on. In parallel, important changes in geopolitical, environmental and technological determinants can be observed in the European and global

  13. Market integration of local energy systems: Is local energy management compatible with European regulation for retail competition?

    NARCIS (Netherlands)

    Eid, C.; Bollinger, L.A.; Koirala, B.P.; Scholten, D.J.; Facchinetti, E.; Lilliestam, J.; Hakvoort, R.A.

    2016-01-01

    The growing penetration of distributed energy resources is opening up opportunities for local energy management (LEM) – the coordination of decentralized energy supply, storage, transport, conversion and consumption within a given geographical area. Because European electricity market liberalization

  14. Price effects of changing quantities supplied at the integrated european fish market

    DEFF Research Database (Denmark)

    Nielsen, Max; Smit, Jos; Guillen, Jordi

    2012-01-01

    to be −1.1. This implies that price flexibilities previously estimated for single European countries underestimate price changes at the European level caused by quantity changes. Results indicate that changing quantities can increase revenues from individual species with large own-price flexibilities...

  15. The European automotive LPG market

    International Nuclear Information System (INIS)

    Anon.

    1998-01-01

    The European automotive LPG market could reach at least 4 % of the European fuel market in 2005 versus 1 % in 1990. This would represent a rise of about 35 % in automotive LPG sales (from 2,4 million tonnes in 1997 to 7 million tonnes estimated for 2005). This was underlined by Alain Deleuse, Primagaz group's Marketing Director, in the paper he delivered at the AEGPL Budapest Convention. We publish large excepts of this paper. (author)

  16. IMPACT OF ROMANIA'S INTEGRATION INTO EUROPEAN UNION ON THE CAPITAL MARKET IN ROMANIA

    OpenAIRE

    Leonardo Badea

    2007-01-01

    The present paper intends to study the development of the stock exchange market in Romania stating as marks, two simple things, namely: the progress of the stock exchange market before and after January 1, 2007, and also the progress of the stock exchange markets in the neighboring states after 2004. For this study, the mathematical calculus of the stock exchange index variation and the stock exchange capitalization is followed. The results have a direct link with the macroeconomic situation ...

  17. Market efficiency in the European carbon markets

    International Nuclear Information System (INIS)

    Charles, Amélie; Darné, Olivier; Fouilloux, Jessica

    2013-01-01

    In this paper, we study the relationship between futures and spot prices in the European carbon markets from the cost-of-carry hypothesis. The aim is to investigate the extent of efficiency market. The three main European markets (BlueNext, EEX and ECX) are analyzed during Phase II, covering the period from March 13, 2009 to January, 17, 2012. Futures contracts are found to be cointegrated with spot prices and interest rates for several maturities in the three CO 2 markets. Results are similar when structural breaks are taken into account. According to individual and joint tests, the cost-of-carry model is rejected for all maturities and CO 2 markets, implying that neither contract is priced according to the cost-of-carry model. The absence of the cost-of-carry relationship can be interpreted as an indicator of market inefficiency and may bring arbitrage opportunities in the CO 2 market. - Highlights: • We study the cost-of-carry hypothesis in the European carbon markets during Phase 2. • We apply cointegration tests with and without structural breaks on several maturities. • We find that futures contracts are cointegrated with spot prices and interest rates. • The cost-of-carry model is rejected for all maturities and carbon markets

  18. IS THE ROMANIAN BANKING SYSTEM INTEGRATED INTO THE EUROPEAN ONE? A MONEY MARKET PERSPECTIVE

    OpenAIRE

    LOVIN Horatiu

    2012-01-01

    The study aims to analyze contagion risk from euro area money market to the Romanian one since the onset of global financial crisis (October 2008). Most banks in Romania are owned by financial institutions located into euro area, resulting in a strong connection between the two banking systems. The empirical results reveal linkages between the euro area money market and the Romanian one, but also partial decoupling during the sovereign debt crisis within euro area, when volatility jumped on e...

  19. Integrated marketing.

    Science.gov (United States)

    2006-01-01

    St. John Health consists of nine hospitals throughout southern Michigan. Recently, in an attempt to brand the system as the state's premiere place for medical services, the system launched 'Real Medicine', a campaign that brands all nine hospitals together. Using print, radio, and television spots, the effort also integrates direct mail collateral and brochures to reach consumers.

  20. Central European gas market perspectives

    International Nuclear Information System (INIS)

    Vanous, Jan

    1999-01-01

    This presentation deals with (1) Definition of the Central European market, (2) Factors driving up consumption of natural gas in Central and Eastern Europe, (3) Role of natural gas in regional energy consumption, (4) Position of natural gas in individual country markets, (5) Future sources of imported natural gas into the region. The Central European market are the eleven countries Albania, Bulgaria, Croatia, Czech Republic, Hungary, Macedonia, Poland, Romania, Serbia and Montenegro, Slovakia, and Slovenia, with a total population of 121 million. This market is comparable to combined France and Italy in terms of population, but only 30% of its size in terms of GDP

  1. European gas oil markets

    International Nuclear Information System (INIS)

    Long, D.

    1991-04-01

    The developments over the past five years of the bulk markets for gas oil in Europe are examined using advanced econometric techniques to study the related issues of pricing efficiency and hedge efficiency. The study attempts to preserve the fluctuations of the actual data as these provide insights into the process of price discovery. The markets studied include the spot, forward and futures markets and looks for evidence of differentiated markets. (UK)

  2. Feasibility and profitability of chain integration by NCPAK on flower sleeves products in European market

    NARCIS (Netherlands)

    Yan, X.

    2008-01-01

    In this report, the author describes that the EU flower sleeve wholesalers are the chain leader of the flower sleeve supply chain from China to the EU market. Their strategy changes can easily put NCpak, in full name, 'Sun Hing Plastic Bag Company', a Hong Kong enterprise based on Shenzhen City,

  3. Interconnections and market integration in the Irish Single Electricity Market

    International Nuclear Information System (INIS)

    Nepal, Rabindra; Jamasb, Tooraj

    2012-01-01

    Interconnections can be an effective way to increase competition and improve market integration in concentrated wholesale electricity markets with limited number of participants. This paper examines the potential for interconnections and increasing market integration in the Irish Single Electricity Market (SEM). We use a time-varying Kalman filter technique to assess the degree of market integration between SEM and other large, mature and interconnected wholesale electricity markets in Europe including Great Britain (GB). The results indicate no market integration between SEM and other European markets except for Elspot and GB. We show that the current state of market integration between SEM and GB is just 17% indicating potential to improve market integration via increased interconnector capacity. The results indicate that liquidity of wholesale markets might be a crucial factor in the market integration process while our results remain inconclusive in determining whether increased trade of renewables can improve market integration. - Highlights: ► We assess the degree of market integration between SEM and other EU electricity markets. ► Our results indicate no market integration between SEM and other European markets except for Elspot and GB. ► We show that the current state of market integration between SEM and GB is just 17%.

  4. Integration project of regional markets in Europe (European directive); Proyecto de integracion de mercados regionales en Europa (Directva europea)

    Energy Technology Data Exchange (ETDEWEB)

    Gonzalez Fernandez-Castaneda, J. J.

    2010-07-01

    The article presents the current situation of the Day-Ahead electricity markets in the different countries and Regions along West Europe. It describes the different possibilities applied to congestion management in the borders between countries and price areas, and the options employed to couple Day-ahead markets to form regional markets in Europe. Finally, it presents the initiative to Price couple Regional markets (PCR) that is being developed by Nord pool spot, EPEX Spot and OMEL with the objective to advance towards the integration of the markets that they operate in the internal Electricity Market. (Author)

  5. Essays on European bond markets

    NARCIS (Netherlands)

    Cheung, Y.C.

    2005-01-01

    This dissertation focused on a number of issues that are of importance in the current European bond market. In the past years, the fiscal policy of the Eurozone members, advances in the technology of trading platforms and the introduction of a single currency have reshaped the fixed income markets

  6. The European Financial Market Stress Index

    OpenAIRE

    Shaen Corbet

    2014-01-01

    This research constructs and develops a financial stress index based on European financial markets. The integration of numerous sovereign states has created difficulty identifying stress in any one single financial component, but incorporating twenty-three headline European stress indicators across equities, bonds and currencies, in terms of both spreads and levels offer substantial explanatory benefits. The incorporation of a logistical framework specifically analysing the levels, volatility...

  7. Management of electricity markets in European Union

    International Nuclear Information System (INIS)

    Zamfir, A.; Florescu, M.S.

    2007-01-01

    The challenges facing energy markets in Europe were discussed with particular reference to the need to integrate and interconnect national energy markets. The Romanian power market evolution since 2000 was also analyzed, taking into account the fact that the strategic objective of the Romanian Government is to assume the role of Regional Exchange in the South-East European region. A common approach to energy is needed to enable the European Union (EU) to compete in global markets, to improve sustainability in the EU and to secure energy supply. An overall framework is needed in order to achieve these objectives. This paper presented the general measures needed to complete the internal gas and electricity markets in Europe. It also proposed measures to ensure that the EU's internal energy market guarantees security of supply and solidarity between Member States. The guiding principles that an approach to information management and market transparency should be based on were described. The authors suggested that an integrated and competitive electricity and gas markets should be established to promote efficient energy services and diversify the energy mix. The measures needed in order to achieve the goal of a genuine single market at EU level were described along with the actions needed to stimulate investments in infrastructure and generation capacity. Measures to prevent or manage energy supply crises were also proposed. 4 refs., 1 tab

  8. How to make a European integrated market in small and isolated electricity systems? The case of the Canary Islands

    International Nuclear Information System (INIS)

    Perez, Yannick; Ramos Real, Francisco Javier

    2008-01-01

    This paper presents a geographic dimension not often studied in the dynamics of creating an internal market for electricity within the European Union, namely the case of small European electricity systems like those found on the Greek islands of Cyprus and Crete. Our question, then, is how to achieve a suitable internal market for electricity in small and isolated systems. To address this issue, we identify the main problems to be overcome by introducing a methodology in which the Canary Islands experience is taken as a case study for understanding the challenges in creating an 'EU-like market for electricity'. Our results show that the design of the vertical industrial structure and the figure of the grid operator and its attributes are key features for the proper operation of any electrical system. We also stress the minor roles of other possible options to achieve this EU-compatible market by highlighting first, in the wholesale market, the call-for-tender solution to introduce more generation and the risk of using safety requirements as barriers to entry in these small markets, and second, in the supply activities, the potential problems of an improperly regulated tariff scheme. (author)

  9. Symbolism in European Integration

    DEFF Research Database (Denmark)

    Manners, Ian

    2011-01-01

    Ernst Haas observed over fifty years ago that ‘United Europe' is a resilient, adaptable, unifying, and yet unspecified symbol'. It is precisely this adaptability and ambiguity that has ensures the continuing importance of European studies as a means of understanding ‘the remarkable social...... of social transformation involved' (Calhoun 2003: 18). This article will consider the role of symbolism in European integration as part of answering Craig Calhoun's call for a means of transcending specific regimes of analysis in order to advance European studies....

  10. The Political History of European Integration

    DEFF Research Database (Denmark)

    Schulz-Forberg, Hagen; Stråth, Bo

    This book adopts a historical perspective to explore the tensions between the idea of a European democracy through a European market, and the observations that there are signs of increasing social disintegration, political extremism and populism in the wake of economic integration. It was shortli......This book adopts a historical perspective to explore the tensions between the idea of a European democracy through a European market, and the observations that there are signs of increasing social disintegration, political extremism and populism in the wake of economic integration...

  11. Regulation of distributed generation. A European Policy Paper on the Integration of Distributed Generation in the Internal Electricity Market

    International Nuclear Information System (INIS)

    Van Sambeek, E.J.W.; Scheepers, M.J.J.

    2004-06-01

    In the SUSTELNET project criteria and guidelines have been developed that can create a level playing field in electricity markets between distributed generation (DG) and large scale power generation and will improve the network and market access of DG and electricity supply from renewable energy resources (RES). This report focuses on the European dimensions of DG regulation. The key findings of the SUSTELNET project are compared with the EU legislation, i.e. the current Electricity, Renewables and CHP Directives. Additional EU policy, regulation and initiatives are identified that can help Member States in developing future economically efficient and sustainable electricity supply systems

  12. The globalization and Europeanization of mortgage markets

    NARCIS (Netherlands)

    Aalbers, M.B.

    2009-01-01

    Do globalization and Europeanization lead to the deterritorialization of European mortgage markets? Neither economic globalization nor EU policies have resulted in one European mortgage market. The various European mortgage markets are still quite different from one another in many respects. In most

  13. Market integration of local energy systems: Is local energy management compatible with European regulation for retail competition?

    OpenAIRE

    Eid, Cherrelle; Bollinger, L. Andrew; Koirala, Binod; Scholten, Daniel; Facchinetti, Emanuele; Lilliestam, Johan; Hakvoort, Rudi

    2016-01-01

    The growing penetration of distributed energy resources is opening up opportunities for local energy management (LEM) – the coordination of decentralized energy supply, storage, transport, conversion and consumption within a given geographical area. Because European electricity market liberalization concentrates competition at the wholesale level, local energy management at the distribution level is likely to impose new roles and responsibilities on existing and/or new actors. This paper prov...

  14. Integration of the market of the European Community and the change of the industrial structure; EC shijo togo to sangyo kozo no henka

    Energy Technology Data Exchange (ETDEWEB)

    Nakamura, T; Uno, K; Tanimoto, T; Yamashita, T [Osaka Sangyo University, Osaka (Japan). Institute for Industrial Research

    1994-11-22

    This paper describes progress of the cooperation as to the integration of EC market and the change of industrial structure. For the structural change in the industry and economy accompanied by the integration of EC, effects of the Maastricht Treaty on the economic structure of EC are described. It is considered that the EC countries are affected by the political and economical restrictions due to the agreement of this treaty. For the change in the distribution structure accompanied by the integration of EC, obstruction factors of the deregulation of EC transportation market are especially investigated. Differences in the distribution capacity, various regulations and standards, and labor condition among individual countries are pointed out as the obstruction factors. For the unity of Germany and its economical and administrative influence, various problems are pointed out as to the economical confusion, progress in the de-nationalization of enterprises, management of real estate and land, etc. For the structural change in the road freight market in the member nations of EC, the structure of road freight market is made clear for the previous West Germany before the integration of European market. It is confirmed that the internationalization of the German domestic market is being promoted.

  15. The capacity of smes with export-import activity from Bihor county to face the challenge of integration on the european single market in euro-regional context

    Directory of Open Access Journals (Sweden)

    Dodescu Anca

    2008-04-01

    Full Text Available Starting from the premises that the competitive capacity of the SMEs is determined by their nature: some of them having rapidly growing capacity, others being totally dependent on local or regional markets, the present paper aims to investigate the capacity of SMEs from Bihor county, which carry out export and import activity, to face the challenges of integration in the European Single Market, with the purpose to guide them towards that initiatives and measures that correspond to their nature, by exploiting the possibilities offered by structural funds. The paper presents the general situation of the SMEs from Bihor county focused on those which are part of intra-communitary trade, and, on the base of a questionnaire applied to a number of 50 of them, their perceptions regarding the threats and opportunities of the European Single Market, in order to increase the absorption of structural funds and to design a Euroregional strategy for the SME sector with direct benefits for the economic agents and communities from Romania and Hungary. The paper is based on the preliminary research results of the project called “The encouragement of SMEs which carry out import-export activity from Bihor county regarding the integration in the European Single Market through the development of cross-border business services”, financed by the PHARE CBC 2005 Programme. The data used have been offered for the mentioned project by Local SMEs Council, Oradea.

  16. Role of National Support Policy in the large-scale integration of DER into the European electricity market

    DEFF Research Database (Denmark)

    ten Donkelaar, Michael; Klinge Jacobsen, Henrik

    2008-01-01

    This report concerns a study of the DER support schemes in the different EU Member States, their effectiveness and if necessary how these might be moulded to become more cost-effective in the future to integrate much larger shares of DER in the European electricity supply system. The report is pa...

  17. Competition on European energy markets

    International Nuclear Information System (INIS)

    Lijesen, M.; Speck, S; Mulder, M.

    2003-01-01

    The launch of the Directives on Electricity and Gas in the late 1990s was the starting point for creating common and competitive energy markets in the European Union. The main goal of this process was to increase efficiency of allocation of resources and, hence,enhance consumer welfare. More specifically, increasing competition within the energy markets should lead to a reduction of energy prices and to a convergence of prices among EU member states. Within a year from now, end-users in the Netherlands will be free to choose their own supplier, thus finalising the deregulation of Dutch energy markets. What lessons may be learned from the experience thus far? What are the results of the liberalisation process up to now? How have prices developed,and can these developments be explained? How afraid should we be for the lights to go out in a competitive electricity market?

  18. RE-Shaping. Shaping an effective and efficient European renewable energy market. D20 Report. Consistency with other EU policies, System and Market integration. A Smart Power Market at the Centre of a Smart Grid

    Energy Technology Data Exchange (ETDEWEB)

    Neuhoff, K.; Boyd, R.; Grau, T. [Climate Policy Initiative, German Institute for Economic Research (DIW Berlin), Berlin (Germany); Hobbs, B.; Newbery, D. [Electricity Policy Research Group, University of Cambridge, Cambridge (United Kingdom); Borggrefe, F. [University of Cologne, Cologne (Germany); Barquin, J.; Echavarren, F. [Universidad Pontificia Comillas, Madrid (Spain); Bialek, J.; Dent, C. [Durham University, Durham (United Kingdom); Con Hirschhausen, C. [Technical University of Berlin, Berlin (Germany); Kunz, F.; Weigt, H. [Technical University of Dresden, Dresden (Germany); Nabe, C.; Papaefthymiou, G. [Ecofys Germany, Berlin (Germany); Weber, C. [Duisberg-Essen University, Duisburg-Essen (Germany)

    2011-10-15

    The core objective of the RE-Shaping project is to assist Member State governments in preparing for the implementation of Directive 2009/28/EC (on the promotion of the use of energy from renewable sources) and to guide a European policy for RES (renewable energy sources) in the mid- to long term. The past and present success of policies for renewable energies will be evaluated and recommendations derived to improve future RES support schemes. The core content of this collaborative research activity comprises: Developing a comprehensive policy background for RES support instruments; Providing the European Commission and Member States with scientifically based and statistically robust indicators to measure the success of currently implemented RES policies; Proposing innovative financing schemes for lower costs and better capital availability in RES financing; Initiation of National Policy Processes which attempt to stimulate debate and offer key stakeholders a meeting place to set and implement RES targets as well as options to improve the national policies fostering RES market penetration; Assessing options to coordinate or even gradually harmonize national RES policy approaches. In the EU, at least 200 gigawatts (GWs) of new and additional renewable electricity sources may be needed by 2020. The aim of this report is to analyse whether the current electricity market and system design is consistent with such an ambitious target. Using an international comparison, we identify opportunities to improve the power market design currently in place across EU countries so as to support the large scale integration of renewable energy sources.

  19. INTEGRATED MARKETING COMMUNICATION IN POLITICS?

    Directory of Open Access Journals (Sweden)

    Ovidiu-Aurel GHIUŢĂ

    2009-06-01

    Full Text Available The current study has practical applicability in politic al domain and theoretical involvement at politicalmarketing communication level. The type of the research is a qualitative one, using as survey methods scientificobservation and documentary search. The aim of the research is to prove the applicability of marketing communicationconcept integrated in political marketing and global marketing communication. There are also exceptions, justanalyzing the industry – politics, in which integrated communication can’t be considered global communication.The subject of integrated marketing communication is relatively a new one in marketing (two decades, but itsapplicability in political domain and the specifications that assumes this application represents o new vision atEuropean and worldwide level. This study clearly presents the differences between the integrated marketingcommunication and global marketing communication.In documentary research, the author used studies belonging to Anglo – Saxons theoreticians and practitioners(Americans, Canadians, British but also Europeans (French, Belgians, Romanians. The main reason is the fact that inmarketing domain on extremely narrow scientific sections the visions belonging to these two main orientations aren’talways equable. Also, in scientific observation, t he research analyses political events from United States of America,France and Romania. Due to this reason, we can affirm that the current study has not only a regional applicability butalso a global one.

  20. The electricity market and European integration from the point of view of the Federal Republic of Germany

    International Nuclear Information System (INIS)

    Bierhoff, R.

    1989-01-01

    The author discusses whether the cross-border exchange of current represents a criterion for developing a uniform internal European market for current and whether the present structure of power supply is really such an obstacle to cross-border exchanges. He examines the situation in various EC countries in an effort to predict the problems that will arise in moving towards uniformity. He concludes that if the uniformity required by the 1987 bill is to become reality, there must be a greater political will on the part of governments to set objectives for the industry more in keeping with present circumstances. (T.J.R.A.)

  1. MAPPING EUROPEAN CAPITAL MARKETS TENDENCIES

    Directory of Open Access Journals (Sweden)

    Andreea Avadanei

    2011-01-01

    Full Text Available The scope of this paper is to analyze the main tendencies influencing European capitalmarkets development. In order to point out their implications, we structured our study onfour chapters. The first one illustrates the consolidation of stock exchanges at the Europeanlevel; the seconds presents some considerations about the deregulation/re-regulation of EUcapital markets; the third section highlights the globalization implications on their evolutionand the fourth one indicates the effects of financial innovation. The progressive integrationof European capital markets over the past decade contributed to the lowering of capital costas a result of increased risk diversification opportunities and reduced transaction costs dueto the specialization of financial system provisions. Moreover, the expansion of thesemarkets improved firms financing decisions, leading to an increased share of non-bankfunding sources.

  2. The European market of renewable energies

    International Nuclear Information System (INIS)

    Anon.

    2011-09-01

    This market study on renewable energies presents: 1 - the different renewable energy industries for power generation: the field of renewable energies (hydropower, wind power, solar energy, geothermal energy and biomass power plants) and their common points, their characteristics, advantages and constraints; 2 - the political and regulatory context with its ambitious goals: main steps of worldwide negotiations, Europe and the management of CO 2 emissions, stiffening of the environmental regulation, the energy/climate package and the efforts to be borne by the different member states; 3 - Economy of the sector and the necessary public support: investment and production costs by industry, wholesale prices and competitiveness of the different power generation means, government's incentives for projects profitability; 4 - dynamics of the European market of renewable energies: energy-mix and evolution of the renewable energies contribution in the world and in the European Union, key-figures by country and by industry (installed capacity, production, turnover, employment); 5 - medium-term development perspectives: 2020 prospect scenarios, evolution of the energy mix, perspectives of development for each industry; 6 - the strengths in presence in the domain of facilities: main manufacturers, market shares, innovations, vertical integration, external growth; 7 - the strengths in presence in the domain of power facilities operation: main European operators, position and ranking, installed capacities, projects portfolio; 8 - medium-term perspectives of reconfiguration: best-positioned operators in a developing market, future of European manufacturers with respect to Asian ones, inevitable concentration in the operation sector. (J.S.)

  3. The European natural gas market

    International Nuclear Information System (INIS)

    Hagland, Jan

    2001-01-01

    An increasing amount of natural gas is flowing into continental Europe, one of the largest gas markets in the world. There are three main sources of gas: Africa, Russia and Norway. Norway is an important supplier of gas, but may be vulnerable to competition. The demand for gas is increasing on a global basis and the largest increase is expected in Asia, followed by America and Europe. It is expected that Norwegian gas deliveries will be a principle source of natural gas for North Europe in the next years and that they will take an increasing part of the British market as the gas deliveries from the British shelf is going down. The European gas market is likely to become liberalized according to the EU's competition- and gas directives. This will not necessarily be a problem, and Norway may be able to increase the export of gas to Great Britain considerably from the year 2010, perhaps up to 40 billion standard m3 per year. Russia is expected to take an increased share of the European gas market, especially in East- and Central Europe, Germany and North Italy. But large investments in existing fields, new developments and new strategic pipelines are necessary

  4. Effects of a Liberalized European Gas Market

    International Nuclear Information System (INIS)

    Austvik, Ole Gunnar

    2003-01-01

    improves efficiency. In fact, an increase in the number of actors in such markets, per se, may increase cost, and, thus, represent a waste of resources. Usually, but not necessarily, state owned firms are privatised (even though the government may hold a significant share, or control over, the ownership), the operation of vertically integrated services are separated (''unbundled''), competition is established when possible and regulation introduced when necessary (when competition does not work). In the case of natural gas, the U.S. and Canada liberalized their markets in the mid 1980s. Later, gas markets in the U.K., and then Australia and New Zealand, followed. Now, in the European natural gas industry, both market growth and infrastructural developments, as well as political decision making, forcing competition on to firms, is now creating a more competitive environment. In order to analyze these issues in relation to Norway as a major natural gas exporter we have studied the development of EU energy policies, price effects of liberalism, energy taxation, the economics of non-renewable (exhaustible) resources and regulatory economics as well as foreign policy issues concerning security-of-supply issues. The complexity and interdisciplinary insights needed to analyze the European gas market makes it even more complex than analyses of the global oil market. In the European gas market, the problem of choosing the right in-depth level and correct parameters and discipline to apply, becomes particularly apparent and challenging. For most analysts and policy makers, it seems to be an overwhelming task to describe exactly how a liberalized European gas market works, how it should be organized and will develop. In this analysis of the political economy of European gas, we will nevertheless try to shed some light on the causes and effects of what may happen

  5. SOLID-DER. Reaching large-scale integration of Distributed Energy Resources in the enlarged European electricity market

    International Nuclear Information System (INIS)

    Van Oostvoorn, F.; Ten Donkelaar, M.

    2007-05-01

    The integration of DER (distributed energy resources) in the European electricity networks has become a key issue for energy producers, network operators, policy makers and the R and D community. In some countries it created already a number of challenges for the stability of the electricity supply system, thereby creating new barriers for further expansion of the share of DER in supply. On the other hand in many Member States there exists still a lack of awareness and understanding of the possible benefits and role of DER in the electricity system, while environmental goals and security of supply issues ask more and more for solutions that DER could provide in the future. The project SOLID-DER, a Coordination Action, will assess the barriers for further integration of DER, overcome both the lack of awareness of benefits of DER solutions and fragmentation in EU R and D results by consolidating all European DER research activities and report on its common findings. In particular awareness of DER solutions and benefits will be raised in the new Member States, thereby addressing their specific issues and barriers and incorporate them in the existing EU DER R and D community. The SOLID-DER Coordination Action will run from November 2005 to October 2008

  6. Volatility Spillover Effects in European Equity Markets

    NARCIS (Netherlands)

    Baele, L.

    2003-01-01

    This paper quantifies the magnitude and time-varying nature of volatility spillovers from the aggregate European (EU) and US market to 13 local European equity markets.I develop a shock spillover model that decomposes local unexpected returns into a country speciffic shock, a regional European

  7. BUCHAREST HOTEL MARKET IN THE EUROPEAN CONTEXT

    Directory of Open Access Journals (Sweden)

    Silvia Patricia DODU

    2014-12-01

    Full Text Available The European hospitality industry currently sees an increase in all specific indicators, a fact that shows, on one hand, the ability of this sector to overcome the economic turbulences of recent years, but also the real perspectives for future growth. Today’s hotel industry can no longer rely on the traditional growth methods, and needs to prepare for the major confrontation with the next-generation technological developments that generate modern marketing channels but, by default, incur significantly higher costs for simply „being” on the market. The Bucharest hotel market is no exception; in the recent past, it has witnessed a slight upwards trend generated by the increase of demand in the business tourism area, while also facing the challenge of integration of modern technologies in the hotel business.

  8. A Comparative European View on African Integration

    DEFF Research Database (Denmark)

    Zank, Wolfgang

    In this paper I compare African and European integration. Despite some important progress, so far African integration has not been as deep as the European one. Measured on the terms of intergovernmental versus supranational cooperation, the AU is essentially an intergovernmental arrangement...... resembles already a federal state, with increasing tendencies in this direction. The different degree of integration has been the cause of many factors. I highlight here the importance of two basic conditions for substantial progress at supranational integration. The first one is a consensus on basic...... European countries have been mixed economies with a public sector, but where economic activities were mainly coordinated by market forces. This opened the possibilities to use these market forces, e.g. by removing trade barriers, to strengthen cooperation at ground level and create pressures for further...

  9. Integrated Marketing Communications

    Science.gov (United States)

    Black, Jim

    2004-01-01

    Integration has become a cliche in enrollment management and student services circles. The term is used to describe everything from integrated marketing to seamless services. Often, it defines organizational structures, processes, student information systems, and even communities. In Robert Sevier's article in this issue of "College and…

  10. Political Psychology of European Integration

    OpenAIRE

    Manners, Ian James

    2014-01-01

    The chapter engages in a survey of what political psychology and European integration have to say to each other in the understanding of the European Union. The chapter draws on five strands of political psychology as part of this engagement – conventional psychology, social psychology, social construction, psychoanalysis, and critical political psychology. Within each strand a number of examples of scholarship at the interface of political psychology and European integration are examined. The...

  11. Independent regulatory authorities in European electricity markets

    International Nuclear Information System (INIS)

    Larsen, Anders; Pedersen, Lene Holm; Sorensen, Eva Moll; Olsen, Ole Jess

    2006-01-01

    Liberalisation of the electricity market has taken place in most European countries within the last decade. It is considered a precondition of successful liberalisation to establish so-called independent regulatory authorities. In this article, we compare the status and practice of them in 16 European countries, and discuss the relationship between the organisation of the regulation and the market outcome

  12. Russian gas in the west European market

    International Nuclear Information System (INIS)

    Nikitin, B.A.

    1996-01-01

    The paper relates to the Russian supply of natural gas to the west European market. Following themes are discussed: The resource basis of the gas industry; analysis of the European gas market; projects for Russian gas supply to Europe; international co-operation

  13. European oil demand and 1993 Common Market potential effects

    International Nuclear Information System (INIS)

    Chevalier, J.M.

    1991-01-01

    Unification of the energy european market will heavily enhance external energy dependence and inter-energy competition. In order to respond to these new challenges, petroleum industry will have to change, probably in the direction of an increased integration concentration. Petroleum market share, moreover, will depend largely from environmental trends in EEC politics and regulations

  14. Research document no. 24. The integration of european electric markets: from the national markets juxtaposition to the establishment of a regional market; Cahier de recherche no. 24. L'integration des marches electriques europeens: de la juxtaposition de marches nationaux a l'etablissement d'un marche regional

    Energy Technology Data Exchange (ETDEWEB)

    Finon, D

    2000-11-01

    After the transcription of the electricity directive in national legislations, the European electricity market appears to be a vast set of juxtaposed markets which are weakly connected at the level of their wholesale contracts compartment. Referring to the technological peculiarities of electricity as a commodity, the paper identifies the direct conditions of regional integration of the electricity markets, those which would favour cross-border trade and allow to be near the normal functioning of a regional commodity market. The infrastructure network dependence and the need of a stringent technical coordination necessitate to unify the operation of the different systems and the rules of access, or at the least to come near this unification by strong coordination. A second major condition, which is not fully debated, is the increasing connexion of short-term markets, via daily physical trade and emergence of a European financial market, which could trade various standardised contracts referring to a single hourly spot price, or to prices in various delivery points. To reach such an integration, two paths are possible: either concentration into one single organised power exchange as the Nordic pool, or rules harmonization of the various power exchanges which would be a minimal requirement to allow arbitrations between them. (author)

  15. Book Review: Diversity in European Marketing

    OpenAIRE

    Hana Machková

    2012-01-01

    The case book “Diversity in European Marketing” is the result of the scientific cooperation of the CEMS Marketing Faculty Group. Prestigious Central European Universities - Corvinius University of Budapest and University of Economic, Prague - are members of CEMS - the Global Alliance in Management Education of 26 leading business schools and 70 multinational companies. Four authors from these two Universities share in this book their experience of Central European Marketing specifics.

  16. How to benefit from a common European electricity market design

    International Nuclear Information System (INIS)

    Ringler, Philipp; Keles, Dogan; Fichtner, Wolf

    2017-01-01

    The realization of an Internal Electricity Market in Europe is currently, on the one hand, progressing, in particular thanks to the wide-spread implementation of market coupling solutions for cross-border congestion management. On the other hand, diverging national market designs pose a threat to the continuation of this process. Given the challenges to electricity market design in a multi-regional context, we analyze how different design aspects, namely cross-border congestion management and capacity mechanisms, affect welfare and generation adequacy in Europe. In doing so, we rely on an agent-based simulation model for electricity wholesale markets which we apply within several numerical, computational case studies for the region of Central Western Europe (2012–2030). Our results confirm the benefits of market coupling in terms of welfare as well as generation adequacy. Furthermore, we find indications that coordinating market designs across regions supports these targets. Therefore, we recommend that European energy policy forms a stable, transparent regulatory framework with cross-border market coupling as an integral component. In this context, energy policy targets should be clearly defined and operationalized, which also needs to consider potential conflicts between them. Finally, electricity market designs need to be coordinated among states to benefit most from a common European market. - Highlights: • European electricity markets at crossroads given diverging market designs • Simulation of CWE Market Coupling using an agent-based model. • Welfare and adequacy gains from European market coupling and new interconnections. • Conflicts between energy policy targets to be considered in market design. • Coordination key to further strengthen integration of electricity markets in Europe.

  17. Political Psychology of European Integration

    DEFF Research Database (Denmark)

    Manners, Ian James

    2014-01-01

    The chapter engages in a survey of what political psychology and European integration have to say to each other in the understanding of the European Union. The chapter draws on five strands of political psychology as part of this engagement – conventional psychology, social psychology, social...... construction, psychoanalysis, and critical political psychology. Within each strand a number of examples of scholarship at the interface of political psychology and European integration are examined. The chapter argues that the study of the EU has much to benefit from political psychology in terms of theories...... and methods of European identity and integration, but it also argues that political psychology can benefit from the insights of European integration by rethinking the processes that drive the marking of inside and outside, interior and exterior, belonging and otherness....

  18. Integration of wind energy in the Dutch electricity system in the context of the Northwestern European market for electricity. Final report

    International Nuclear Information System (INIS)

    Benz, E.; Hewicker, C.; Moldovan, N.; Stienstra, G.; Van der Veen, W.

    2010-04-01

    A study was conducted of the integration of large volumes of wind energy in the Dutch electricity system in the context of a Northwest European electricity market for the year 2020. This study contributes to answering the questions that are at the centre of the project 'Fuel mix'. The following aspects are addressed: the capacity to combine large volumes of wind energy in the Dutch electricity system with the use of CHP; the impact of electricity costs; the influence on CO2 emissions and fuel use; the correlation between the electricity production of CHP units; wind parks and coal-fired plants. In this study the Dutch electricity system is simulated in connection with the framework of the regional electricity market in Northwest Europe for the year 2020. The conducted simulations are based on perfect competition with the marginal cost price of the production units as offer price in the electricity market. To this end the chronological production simulation model (PLEXOS) was used, which takes into account the dynamic operational management and limitations of the electricity plants and the transmission grid. [nl

  19. Th european market of the electric power

    International Nuclear Information System (INIS)

    2001-01-01

    This document presents the CRE (commission of the Electric power Control) progress report concerning the first july 2000 to the 30 june 2001. Three main subjects are discussed, illustrated by economic data and graphs: the electric power european market, the french market control and the CRE. A special interest is given to the deregulation of the market and its consequences. (A.L.B.)

  20. Capacity Remuneration Mechanisms for Reliability in the Integrated European Electricity Market: Effects on Welfare and Distribution through 2023

    DEFF Research Database (Denmark)

    Traber, Thure

    2017-01-01

    emuneration mechanisms (CRMs) based on the assumption that a CRM is indicated. A strategic reserve (SR) policy with administratively set capacity targets, a capacity market (CM) based on public procurement, and a decentralized reserve market with the obligation of generators to finance reserves in relation...

  1. Analysis and modelling of the fuels european market

    International Nuclear Information System (INIS)

    Simon, V.

    1999-04-01

    The research focus on the European fuel market prices referring to the Rotterdam and Genoa spot markets as well the German, Italian and French domestic markets. The thesis try to explain the impact of the London IPE future market on spot prices too. The mainstream research has demonstrated that co-integration seems to be the best theoretical approach to investigate the long run equilibrium relations. A particular attention will be devoted to the structural change in the econometric modelling on these equilibriums. A deep analysis of the main European petroleum products markets permit a better model specification concerning each of these markets. Further, we will test if any evidence of relations between spot and domestic prices could be confirmed. Finally, alternative scenarios will be depicted to forecast prices in the petroleum products markets. The objective is to observe the model reaction to changes crude oil prices. (author)

  2. THE EMERGENCE OF THE EUROPEAN COUNTERFEIT MARKETS

    Directory of Open Access Journals (Sweden)

    Loredana Maftei

    2013-07-01

    Full Text Available The European market of counterfeit goods has become a subject of increasing concern for businesses, private firms and policymakers. With a growing demand in consumption for this kind of goods, each sector is damaged from the toy industries to the pharmaceuticals industry. This article is aimed to expose the dynamic of the European counterfeiting markets, to highlight the main factors of production, the main providers, the smuggling routes, the overall profit, the main counterfeit products and also to offer a general perspective on the affected European markets.

  3. European Integration between Equity, Efficiency and Welfare

    Directory of Open Access Journals (Sweden)

    Gabriela Marchis

    2012-05-01

    Full Text Available Throughout this article I tried to highlight the path for improving the Europeans standards ofliving. Poverty, inequality and efficiency are the key concepts of the welfare economic. Similar to many otherarticles about equity, efficiency and welfare, this article offers an account of the challenges facing theEuropean Union welfare in a context of global economy assessing the ability of different components of thewelfare governance to respond to these challenges. The welfare of European Union is analyzed under themultidimensional aspects of integration, such as: internal versus external integration and multilevelintegration. Aging, changes in the labor market, increased mobility are particular aspects that characterize EUand under the fundamental reform of Europe 2020 Strategy, welfare economic becomes a priority even if thepolitical integration comes first to the economic one. As Europe grows more diverse, the welfare economictranslates from desire to necessity.

  4. Developments in the European methanol market

    International Nuclear Information System (INIS)

    Speed, J.

    1995-01-01

    In the late eighties/early nineties the World Methanol Market was basically divided into three regional markets--America, Asia Pacific and Europe. These markets were interrelated but each had its own specific characteristics and traditional suppliers. Now the situation has changed; in the mid nineties there is a Global Methanol Market with global players and effective global pricing and the European market is governed by events world-wide. Europe is however a specific market with specific characteristics which are different from those of other markets although it is also part of the Global Market. Hence before the author focuses on Europe he looks at the World Market. The paper discusses world methanol production and consumption by region, world methanol consumption by end use, world methanol supply demand balance, the west European market, western European methanol production, methanol imports to W. Europe, the Former Soviet Union supplies, W. European methanol consumption by end use, MTBE in Europe, duties on methanol imports into W. Europe, investment in Europe, the effect of the 1994/95 price spike, and key issues for the future of the industry

  5. Market integration in the crustaceans market

    DEFF Research Database (Denmark)

    Ankamah-Yeboah, Isaac; Bronnmann, Julia

    2018-01-01

    are substitutes. Price determination processes for the shrimp markets vary with the level of the value chain. The results imply that the wild and farmed crustaceans markets are interacting through substitution effects. Hence, the markets have the capability to shield volatile and rising prices that would emanate......In this paper the price dynamics and the degree of market integration in the German crustaceans market is examined using cointegration methods. The study focuses on wild caught cold water shrimp, farmed warm water shrimp as well as lobster and derives implications for the fisheries sector....... In the analysis, both the import market and the retail market price reactions are distinguished. Therefore, it is evaluated how price changes affect competing commodities within and between the value chain of a given crustaceans commodity. Evidence of partial market integration is found for all species under...

  6. Norwegian gas supplies for the European market

    International Nuclear Information System (INIS)

    Hansen, B.L.

    1994-01-01

    The conference paper deals with the Norwegian key role in the European gas market with increasing market shares. The supply capacity in a long-term perspective can be 65-70 bcm/year or more if export prices support the development of new and more costly gas resources. The main challenges for the Norwegian shelf are discussed. 5 figs

  7. Natural gas supply strategies for European energy market actors

    International Nuclear Information System (INIS)

    Girault, Vincent

    2007-06-01

    The liberalization of the European energy markets leads to the diversification of supplies. Hence, we analyse the natural gas importation problem in a power producer point of view. Upstream and downstream natural gas markets are concentrated. In this oligopoly context, our topic is to focus on strategies which modify natural gas sourcing price. This by studying the surplus sharing on the natural gas chain. A European firm can bundle gas and electricity outputs to increase its market share. Therefore, a bundling strategy of a power producer in competition with a natural gas reseller on the final European energy market increases upstream natural gas price. Bundling also acts as a raising rival cost strategy and reduces the rivals' profit. Profits opportunities incite natural gas producers to enter the final market. Vertical integration between a natural gas producer and a European gas reseller is a way, for producers, to catch end consumer surplus. Vertical integration results in the foreclosure of the power producer on the upstream natural gas market. To be active on the natural gas market, the power producer could supply bundles. But, this strategy reallocates the rent. The integrated firm on natural gas gets the rent of electricity market in expenses of the power producer. Then, a solution for the power producer is to supply gas and electricity as complements. Then, we consider a case where vertical integration is not allowed. Input price discrimination by a monopolist leads to a lower natural gas price for the actor which diversifies its supplying sources. Furthermore, a bundling strategy increases the gap between the price proposed to the firm which also diversify its output and the firm which is fully dependent from the producer to supply natural gas on final market. (author)

  8. EUROPEAN INTEGRATION FROM POLAND’S VIEWPOINT. SELECTED ISSUES

    OpenAIRE

    Iwona M. Pawlas

    2014-01-01

    It has been ten years since Poland joined the European Union in May 2004. Integration with the EU structures resulted in considerable economic, social and political advantages. On the other hand membership in the EU created new challenges for Poland, the Polish companies and the Polish citizens. The paper reviews selected issues of Poland’s integration with the European Union with special focus on net financial effect of membership, competitiveness of Polish goods on single European market, p...

  9. European Electricity Markets in Crisis: Diagnostic and Way Forward

    International Nuclear Information System (INIS)

    Roques, Fabien

    2013-01-01

    The European electricity industry is going through a profound crisis as several factors combine to create a challenging operating environment for thermal plants. The key issue is that the regulatory and market framework create a climate of deep policy and regulatory uncertainty which will hamper investments and will not deliver on the long term objectives of decarbonization and competitiveness of the European economy. This report analyses both the short and long term challenges for the European electricity markets, and highlights some directions for reform. The report has three main parts. The first part describes the current status quo and challenges associated with the long term decarbonization of the European economy: Section 1 sets the scene by describing the current challenges for the European electricity industry and the challenges associated with the long term decarbonization of the European economy; Section 2 quantifies the investment challenge for the electricity industry and shows how the current regulatory uncertainty undermines investments and will likely not deliver on the stated policy objectives; The second part of the report focusses on the 'extrinsic' issues which affect electricity markets: Section 3 reviews the wider context for electricity market liberalization, which calls for a rethink of the European energy policy framework, including the recent developments in global energy markets, as well as the impact of rising energy prices on economic competitiveness; Section 4 presents the distortive effects of support policies for low carbon technologies and the issues with the European carbon Trading Scheme; The third and last part of the report concentrates on the 'intrinsic issues' with electricity markets: Section 5 details the experience to date with European electricity markets liberalization, and highlights the achievements as well as the shortcomings of the liberalization and integration process; Section 6 dwells into the 'intrinsic issues

  10. The single European market - a Schumpeterian event?

    OpenAIRE

    Siebert, Horst

    1989-01-01

    It is now four years after the White Paper launched the project on the completion of the internal market [Commission, 1985]. 300 steps were packaged and sold in a manner by Delors and Lord Cockfield that "caught on". The basic strategy is simple: abolish or reduce market segmentations that still exist, facilitate free market access, as well as establish the free movement of people, goods, services, and capital (the so-called four freedoms). Will the single European market prove to be an insti...

  11. Multi-agent simulation of competitive electricity markets: Autonomous systems cooperation for European market modeling

    International Nuclear Information System (INIS)

    Santos, Gabriel; Pinto, Tiago; Morais, Hugo; Sousa, Tiago M.; Pereira, Ivo F.; Fernandes, Ricardo; Praça, Isabel; Vale, Zita

    2015-01-01

    Highlights: • Definition of an ontology allowing the communication between multi-agents systems. • Social welfare evaluation in different electricity markets. • Demonstration of the use of the proposed ontology between two multi-agents systems. • Strategic biding in electricity markets. • European electricity markets comparison. - Abstract: The electricity market restructuring, and its worldwide evolution into regional and even continental scales, along with the increasing necessity for an adequate integration of renewable energy sources, is resulting in a rising complexity in power systems operation. Several power system simulators have been developed in recent years with the purpose of helping operators, regulators, and involved players to understand and deal with this complex and constantly changing environment. The main contribution of this paper is given by the integration of several electricity market and power system models, respecting to the reality of different countries. This integration is done through the development of an upper ontology which integrates the essential concepts necessary to interpret all the available information. The continuous development of Multi-Agent System for Competitive Electricity Markets platform provides the means for the exemplification of the usefulness of this ontology. A case study using the proposed multi-agent platform is presented, considering a scenario based on real data that simulates the European Electricity Market environment, and comparing its performance using different market mechanisms. The main goal is to demonstrate the advantages that the integration of various market models and simulation platforms have for the study of the electricity markets’ evolution

  12. Natural gas industry in European Community and european single market

    International Nuclear Information System (INIS)

    Cadoret, I.

    1992-01-01

    Common Market of natural gas is dominated by some companies. In several Member Countries, one company only manages the whole industry. European Economic Community thinks this type of structure induce hindrances to free circulation of natural gas in Europe. 10 refs

  13. THE STEEL EUROPEAN STOCK MARKET EFFICIENCY

    Directory of Open Access Journals (Sweden)

    Viorica CHIRILA

    2015-12-01

    Full Text Available Testing the hypothesis of informational efficiency is a permanent preoccupation of researchers because the theories and the models of modern finance are based on it. This paper presents the results obtained after testing the efficiency hypothesis, in the weak form, for the European stock market of the companies that belong to the economic steel sub-sector. Following the use of both linear and non-linear tests of autocorrelation of returns we can conclude that the European stock market in the economic steel sub-sector is inefficient from an informational point of view and the investors in these stocks may obtain better results than those of the European market in general.

  14. Examining market power in the European natural gas market

    International Nuclear Information System (INIS)

    Egging, R.G.; Gabriel, S.A.

    2006-01-01

    In this paper, we develop a mixed complementarity equilibrium model for the European natural gas market. This model has producers as Cournot players with conjectured supply functions relative to their rivals. As such, these producers can withhold production to increase downstream prices for greater profits. The other players are taken to be perfectly competitive and are combined with extensive pipeline, seasonal, and other data reflecting the current state of the market. Four market scenarios are run to analyze the extent of market power by these producers as well as the importance of pipeline and storage capacity. (author)

  15. Examining market power in the European natural gas market

    International Nuclear Information System (INIS)

    Egging, Rudolf G.; Gabriel, Steven A.

    2006-01-01

    In this paper, we develop a mixed complementarity equilibrium model for the European natural gas market. This model has producers as Cournot players with conjectured supply functions relative to their rivals. As such, these producers can withhold production to increase downstream prices for greater profits. The other players are taken to be perfectly competitive and are combined with extensive pipeline, seasonal, and other data reflecting the current state of the market. Four market scenarios are run to analyze the extent of market power by these producers as well as the importance of pipeline and storage capacity

  16. Transmission capacities and competition in Western European electricity market

    International Nuclear Information System (INIS)

    Spiridonova, Olga

    2016-01-01

    The integration of national electricity markets into a single European one is expected to reduce the ability of dominant players to exercise market power. This paper investigates whether or not existing transmission capacities of cross-border interconnectors are sufficient to achieve this result and create vigorous competition in the market. A model with two decision levels is used. On the first level profit maximizing generators play Cournot game against each other. On the last level the system operator clears the market and determines flows in the network to maximize social welfare subject to a set of physical constraints. As each strategic generator anticipates her impact on equilibrium prices and congestion in the system, her optimization problem is subject to equilibrium constraints from the system operator's problem. The analysis demonstrates that interconnector capacities in Western Europe are insufficient for integration alone to reduce the exercise of market power. I compare several possible competition-enhancing policies: expansion of interconnectors and different scenarios of national markets’ restructuring. I show that although increase of line capacity is a useful tool to stimulate competition in an integrated market, it is not a substitute for the restructuring of large players. - Highlights: •The ability of integration to reduce market power depends on transmission capacities. •In the model firms compete in quantities, know their impact on prices and congestion. •In Western Europe integration will not diminish market power. •Line extension stimulates competition but is not a substitute for the regulation.

  17. European gas market developments. Opportunities and threats

    International Nuclear Information System (INIS)

    Van Oostvoorn, F.

    1998-09-01

    The paper is based on two studies conducted by ECN, namely a study entitled 'An analysis of the West-European gas market: a company approach' and another entitled 'Developments of gas markets across Europe' to be published in November 1998. The paper addresses the past driving factors responsible for the increasing share of gas in the EU energy demand. Furthermore it very briefly discusses the rising dependency of the European Union (EU) on gas imports from non-EU sources such as Russia and the expected gas-to-gas competition in a large number of EU countries in the next decades. 25 refs

  18. Marketing approaches at European level – The case of Southern-European countries

    Directory of Open Access Journals (Sweden)

    Bianca TESCAŞIU

    2016-07-01

    Full Text Available The specialization of Marketing refers not only on specific focus on some domains, but, also, to its adaptation on regional issues. During the globalization process, marketers adapted their activity to new trends, such as: standardization, integrated distribution, production transfer, comparative advantage, etc. The common aspects of some regional markets determined the marketers to approach differently some homogeneous regions in the World economy. In this sense, the article intends to establish the main differences and the common aspects of a very important area in the European economy – The South East of Europe.

  19. The Western European Mobile Service Market

    DEFF Research Database (Denmark)

    Henten, Anders; Tadayoni, Reza; Hjarup, Søren

    The aim of the paper is to analyse the development of the structure in the Western European mobile services market, based primarily on technological and economic parameters. The focus of the analysis is on the market consolidation process, taking place horizontally, i.e. among the mobile network...... operators, and on the new companies entering the mobile field vertically, delivering, e.g., content and portal services, as convergence with Internet develops....

  20. Integration of the market of the European community and the change of the industrial structure. EC shijo togo to sangyo kozo no henka

    Energy Technology Data Exchange (ETDEWEB)

    Tanimoto, T; Uno, K; Nakamura, T; Yamashita, S [Osaka Sangyo University, Osaka (Japan). Institute for Industrial Research

    1992-11-20

    This paper considers problems in the change of the industrial structure as a result of the EC market integration, and the change of the physical distribution structure, mainly in cargo transportation. The market integration is being moved forward mainly on liberalization of flows in people, materials, and currencies, but the material flow liberalization has not progressed noticeably because of difficulty in deregulations. Changes in the transportation structure on the whole in the EC countries would not see a complete removal of barriers supported by the transportation licensing system because of issues in protecting domestic transportation markets and sharing the road expenses, even if the tariff barrier has been removed as a result of the market integration. Amid the predictions on deregulated legislations and intensified competition associated with the integration, the French trucking industry is indicated of its direction toward a two-layer structure comprising large-scale enterprises and medium-to-small companies. The German unification created problems in transferring from the socialistic command economy to the capitalistic market economy. The paper gives considerations on the real state of affairs in the privatization policy of the people-owned enterprises in the former East Germany, and its economic and managerial problems that should be solved amid the large-area EC market integration based on the mutualism over and above the economic system transition.

  1. Efficient Market Hypothesis: Some Evidences from Emerging European Forex Markets

    OpenAIRE

    Anoop S Kumar; Bandi Kamaiah

    2014-01-01

    This study attempts to analyze the presence of weak form efficiency in the forex markets of a set of select European emerging markets namely Bulgaria, Croatia, Czech Republic, Hungary Poland, Romania, Russia, Slovakia and Slovenia using the monthly NEER data ranging from jan-1994 to Dec-2013. We employ a two step comprehensive methodology where in the first place we test for weak form efficiency using a family of individual and joint variance ratio tests. The results show that while the marke...

  2. Deodorants on the European market

    DEFF Research Database (Denmark)

    Rastogi, Suresh Chandra; Johansen, J D; Frosch, Peter J

    1998-01-01

    allergens from the fragrance mix and 14 other commonly used fragrance materials. The deodorants were purchased at retail outlets in 5 European countries. It was found that in general, fragrance mix ingredients were more frequently present in vapo- and aerosol sprays than in roll-on products. The levels...... of the fragrance mix substances ranged from 0.0001-0.2355%. The products investigated contained cinnamic aldehyde and isoeugenol less frequently (17% and 29% respectively), and eugenol and geraniol most frequently (57% and 76% respectively). The 14 other fragrance materials were found in 40-97% of the deodorants...... could be drawn about the other fragrance mix constituents, as threshold levels in sensitized individuals have not been investigated. Furthermore, all of the fragrance materials investigated were frequently found in deodorants and, apart from the fragrance mix ingredients, the extent of problems...

  3. The European Gas Market. A Reality Check

    International Nuclear Information System (INIS)

    Parmigiani, Laura

    2013-01-01

    With the approach of the 2014 deadline for the completion of a truly European liberalised energy market, there is growing concern on the adequacy of the market structure with the changed economic and geopolitical environment. Market-based and short-term approaches have been fostered for both gas and electricity markets. Energy and climate policies have therefore a primary function in designing the basic rules for these markets to develop. This study addresses two key issues related to the market design envisaged for the gas sector in Europe. The first raises questions about the adequacy of the market design proposed for the gas market with respect to security of supply. In fact, despite a higher dependence to external gas sources, the gas system has been developing all over Europe and it is becoming a key component of the European energy mix, in particular thanks to its back-up role for intermittent electricity generation and its lower content of CO 2 emissions with respect to coal. The external dimension of the gas market is thus taking a greater place in the approach to gas supply strategies. Security of supply is a key component in the gas sector and cannot be ignored in the creation of a European gas market. Moreover, the oligopolistic characteristic of the supply side has to be carefully assessed as it is well recognized that two countries (Norway and Russia) provide up to almost 60% of total external supplies. The study therefore investigates to what extent the gas market design and its implementation rules take into consideration this dimension. It will be argued that the gas target model envisaged by regulators and the EC, by aiming at increasing the number of market exchanges based on market hubs or virtual exchange points, will not significantly contribute to security of supply. On the contrary, a greater concentration could be an undesired outcome of this process. The second issue thus relates to the more practical on-going reforms that establish common

  4. European Research Reloaded : Cooperation and Integration Among Europeanized States

    NARCIS (Netherlands)

    Holzhacker, Ron; Haverland, Markus

    2006-01-01

    European integration has had an ever deepening impact on the member states. The first wave of research concerned the process of institution building and policy developments at the European Union (EU) level. The second wave, on Europeanization used the resulting integration as an explanatory factor

  5. Independent regulatory authorities in European electricity market

    DEFF Research Database (Denmark)

    Olsen, Ole Jess; Larsen, Anders; Sørensen, Eva Moll

    2006-01-01

    Liberalisation of the electricity market has taken place in most European countries within the last decade. It is considered a precondition of successful liberalisation to establish so-called independent regulatory authorities. In this article, we compare the status and practice of them in 16...

  6. Financial Integration Through Benchmarks: The European Banking Sector

    NARCIS (Netherlands)

    G.A. Moerman (Gerard); R.J. Mahieu (Ronald); C.G. Koedijk (Kees)

    2004-01-01

    textabstractEuropean banking regulation has been harmonized to a high degree over the last few decades. Nevertheless, the European banking industry remains fragmented as shown by the relatively high market shares of banks in their home countries. In this paper we concentrate on the integration

  7. Interest Organisations and European Integration

    DEFF Research Database (Denmark)

    Pedersen, Ove K.

    This paper examines the influence of European integration on the relationship between state administration and private interests in the four Nordic countries - Sweden, Denmark, Norway and Finland. By private interests I mean interest organizations, private corporations and independent experts....... The paper focuses exclusively on the national policy processes that are involved with managing European Union (EU) issues. More specifically, this paper discusses two aspects of multi-level governance. First is the important role of private interests in the coordination of decision making at the national...... level preceding their government's representation of national interests in the European Council of Ministers and other EU organizations. Second is the effect of all this on national democratic systems....

  8. Best Practice: Integrated Marketing Communications

    OpenAIRE

    Schultz, Don; Macdonald, Emma K.; Baines, Paul R.

    2012-01-01

    Integrated marketing communications can substantially improve target audience reception, message resonance, and positive behavioural response but, to reach its true potential, the process requires a strong focus on data integration/customer insight.

  9. French dissatisfactions on the European electricity market

    International Nuclear Information System (INIS)

    Glachant, J.M.

    2007-01-01

    The author first notices that the French electricity professional consumers are dissatisfied with the results of the creation of the European domestic electricity market in 1997: price increase either on bills or on the wholesale markets, and even more price increases are to come. The author proposes to examine several issues: what has been done during the 6 or 7 past years, that is since the California crisis in 2000-2001, to put the European electrical reforms on a virtuous track? Have the basic market economy principles been respected to protect competitiveness of all energy consumer professionals? How and why the French government or EDF will make us pay gas, coal or CO 2 emission permits like in England or Germany whereas the French electricity production has mainly (90 or 95 per cent) a nuclear or hydraulic origin?

  10. European internal electricity market. What next?

    International Nuclear Information System (INIS)

    Petrov, K.; Hewicker, C.; Boisseleau, F.; Nabuurs, P.

    2007-01-01

    2006 has been a very active year in the development of electricity markets worldwide. In Europe the liberalisation process was moving forward driven by the European Directives implemented in the EU states. Together with security of supply and environmental protection, implementation of competitive energy markets has also been one of the main objectives of EU energy policy. A competitive internal market for electricity has been progressively implemented across the European Union since 1999-2000. This process aims at increasing competition in electricity generation and supply leading to enhanced efficiency, which is closely associated with lower production costs and ultimately lower electricity prices. The sector inquiry and the country reviews conducted by the European Commission (EC) during 2006 showed that progress has been achieved. However, there are still a number of issues that need to be resolved in order to achieve an adequately operating internal electricity market. The EC energy package from 10th January 2007 is a set of concrete proposals for action in the energy field and arises in reaction to the Green Paper published on 8th March 2006. The Green Paper 'A European Strategy for Sustainable, Competitive and Secure Energy', on the one hand, identified the main problems that the European energy sector faces and, on the other hand, suggested possible actions to meet key objectives, including security of supply, environmental sustainability and competitiveness towards a unified European Energy Policy. The motivation of the EC package is the need to identify new measures or a strengthening of existing measures to reach the targets and their underlying objectives. The EC package deals with the main issues on energy policy (renewable electricity, internal electricity and gas market, sector competition, sustainable power generation from fossil fuels, nuclear energy, gas and electricity infrastructures and energy technology) and an action plan for energy

  11. European Integration and Postcolonial Sovereignty Games

    DEFF Research Database (Denmark)

    observation, textual, legal and institutional analysis for a new theoretical approach to understanding the strategic possibilities and subjectivity of non-sovereign entities in international politics. Bringing together research on European integration and postcolonial theory, European Integration...

  12. Evolutions of the Social Sphere and of the Labour Market in Process of European Integration – is the Nordic Model Worth Following?

    Directory of Open Access Journals (Sweden)

    Alina Ailinca

    2013-04-01

    Full Text Available Economic integration in Europe knows different stages and degrees of integration, Economic and Monetary Union (EMU being the penultimate stage which involves harmonizing fiscal and monetary policies. In this respect, in the desire to show the contribution to the increasing of economic integration in the European Union (EU, the article sets as the objectives, in tandem national-European, the identification of discrepancies of social indicators of EU countries in report to the targets of the Europe 2020 strategy. Thus, we used an approach based on a case study of EU countries, comparing the performance of social indicators in EU countries against European targets. The results showed that the Nordic countries are the closest to the social objectives of the Union, offering a good performance of these indicators. The prior work in the literature identifies many types of social models, from which the Nordic model is described as the one that provides the highest level of social welfare. Thus, the value of the study consists in clearly pointing out the qualities of the Nordic social model, arguing with figures and information why it may be more appropriate to its expanded implementation at the level of the European Union. As far as social policies of EU member states may be at least partially adapted to meet the performance of Nordic social model, the research can have several benefic implications, especially for policy makers.

  13. Flight to Safety from European Stock Markets

    DEFF Research Database (Denmark)

    Aslanidis, Nektarios; Christiansen, Charlotte

    -return trade-off is positive and during flight-to-safety episodes it is negative. The effects of flight-to-safety episodes on the risk-return trade-off are qualitatively similar for own country flight-to-safety episodes, for flight from own country stock market to the US bond market, and for US flight......This paper investigates flight-to-safety from stocks to bonds in seven European markets. We use quantile regressions to identify flight-to-safety episodes. The simple risk-return trade-off on the stock markets is negative which is caused by flight-to-safety episodes: During normal periods, the risk...

  14. The beef market in the European Union

    DEFF Research Database (Denmark)

    Nielsen, Niels Asger; Jeppesen, Lisbeth Fruensgaard

    characteristics determining the consumers' value perception of a piece of meat appear to be fat, tenderness, taste and freshness. 7. The primary production of beef is fragmented in most European countries and the average number of cattle at a European cattle farm is only slowly rising. Two thirds of the cows...... of cattle going through markets is declining. 10. Product quality has been very difficult to control in the beef sector. The cattle supplied for slaughtering is of a very varying quality with regard to important consumer-oriented quality characteristics like tenderness and taste, and the lack...

  15. Efficient Market Hypothesis: Some Evidences from Emerging European Forex Markets

    Directory of Open Access Journals (Sweden)

    Anoop S Kumar

    2014-06-01

    Full Text Available This study attempts to analyze the presence of weak form efficiency in the forex markets of a set of select European emerging markets namely Bulgaria, Croatia, Czech Republic, Hungary Poland, Romania, Russia, Slovakia and Slovenia using the monthly NEER data ranging from jan-1994 to Dec-2013. We employ a two step comprehensive methodology where in the first place we test for weak form efficiency using a family of individual and joint variance ratio tests. The results show that while the markets of Croatia, Czech Republic and Bulgaria may be weak form efficient at a shorter lag, the other six markets are not informationally efficient. In the next stage, we estimate a measure of relative efficiency to show the extent to which a market is weak-form inefficient. From the results, it is found that the forex markets of Croatia, Czech Republic and Bulgaria are least weak form inefficient compared to others. The findings of the study are of relevance as it shows that even after roughly two decades of free market economic policies, majority of the forex markets in the area remains informationally inefficient.

  16. The single European energy market: the electricity supply sector

    International Nuclear Information System (INIS)

    Halliwell, A.A.

    1991-01-01

    The completion of the Internal Market in the Community by the end of 1992 has become a key objective and the focal point of the revival of the European Community. Within this overall objective, the development of the Single European Energy Market, the Internal Energy market, is a major element. The energy objectives for the Community, adopted in 1986 by the Council of Ministers and relating to targets in the energy sector to be achieved by 1995, contain what are effectively the aims of the Internal Energy Market. This is in a reference to the need for greater integration, free from barriers to trade, of the Internal Energy Market with a view to improving security of supply, reducing costs and improving economic competitiveness. In the light of these aims, the Commission drew up, in 1988, an inventory of potential obstacles to the achievement of the Internal Energy Market. This was accepted by the Council, together with a list of suggested priority areas of work, and has formed the basis of the Commission's efforts to move forward as quickly as possible in the development of the Internal Energy Market, in all branches of the energy sector. The impact on the electricity sector, in particular, is considered here. (author)

  17. BUCHAREST HOTEL MARKET IN THE EUROPEAN CONTEXT

    OpenAIRE

    Ioana Cristiana PATRICHI

    2014-01-01

    The European hospitality industry currently sees an increase in all specific indicators, a fact that shows, on one hand, the ability of this sector to overcome the economic turbulences of recent years, but also the real perspectives for future growth. Today’s hotel industry can no longer rely on the traditional growth methods, and needs to prepare for the major confrontation with the next-generation technological developments that generate modern marketing channels but, by default, incur sign...

  18. Corporate strategies for European gas markets

    International Nuclear Information System (INIS)

    Chevalier, J.M.

    1992-01-01

    In January 1992, the Commission of the European Economic Community issued a proposal for accelerating the process of building up a single market for natural gas. After the first step, already taken, to introduce price transparency, the Commission is willing to introduce progressively Third Party Access (T.P.A.) and the freedom of establishment in all segments of the natural gas industry: L.N.G. terminals, storage facilities, transmission lines and public distribution. 1 tab

  19. The role of power exchanges for the creation of a single European electricity market: market design and market regulation

    International Nuclear Information System (INIS)

    Boisseleau, F.

    2004-01-01

    The electricity sector worldwide is undergoing a fundamental transformation of its institutional structure as a consequence of the complex interactions of political, economic and technological forces. The way the industry is organized is changing from vertically integrated monopolies to unbundled structures that favor market mechanisms. This process in Europe, known as the liberalization process, has had a wide impact on the European electricity industry. The focus of this dissertation is an analysis of the role of electricity power exchanges in the recently liberalized electricity markets of Europe. In the context of creating a competitive electricity market at a European level, the key questions considered are the functioning of these power exchanges with respect to electricity characteristics, market design and regulatory framework. In Europe, very little attention has been paid to the role of these new marketplaces and to the issue of market design in general. Hence the main purpose of this work was to analyze how these marketplaces facilitate the trading of electricity and the role they can play in the construction of a pan-European competitive electricity market. An analysis of power exchange requires taking into account the 'double-duality' of such institutions. One, power exchanges are both a market and an institution. As a market they facilitate the trading of electricity and determine an equilibrium price. As an institution power exchanges have their own objectives and constraints, and play a role in the market design of the overall electricity market. Two, the relationship between electricity power exchanges and liberalization is neither linear nor one way: liberalization encourages the birth of such marketplaces yet marketplaces are more than the results of such process, they are also a driving force of the liberalization process. This thesis is divided into three parts. The current situation in Europe and different existing theoretical approaches in

  20. The Integration of Immigrants Into the Labour Markets of the EU. IAB Labour Market Research Topics.

    Science.gov (United States)

    Werner, Heinz

    Integration of foreign workers into European Union (EU) labor markets was evaluated. Three indicators of labor market integration were analyzed: unemployment rate, employment rate, and self- employment rate. Results were drawn from the Labor Force Survey data compiled by Eurostat. Findings indicated that, in all EU countries, the unemployment rate…

  1. Price discovery in European natural gas markets

    International Nuclear Information System (INIS)

    Schultz, Emma; Swieringa, John

    2013-01-01

    We provide the first high-frequency investigation of price discovery within the physical and financial layers of Europe's natural gas markets. Testing not only looks at short-term return dynamics, but also considers each security's contribution to price equilibrium in the longer-term. Results show that UK natural gas futures traded on the Intercontinental Exchange display greater price discovery than physical trading at various hubs throughout Europe. - Highlights: • We use intraday data to gauge price discovery in European natural gas markets. • We explore short and long-term dynamics in physical and financial market layers. • Results show ICE's UK natural gas futures are the main venue for price discovery

  2. Norwegian gas on the European market

    International Nuclear Information System (INIS)

    Noreng, Oeystein

    1999-01-01

    Article. Norsk Hydro's acquisition of Saga has made the organization of Norwegian gas sales a very topical issue. Traditionally, Norwegian gas has been sold on long-term take-or-pay contracts where the sales volume is secured and the price is linked to the prices of other energy carriers, primarily oil. Norway has sold large volumes of gas to the continent and has an increasing share of the market. However, the long-term contracts place most of the price risk on the seller. Although the sale is guaranteed, earnings are low. Statoil, the largest seller of Norwegian gas, has so far earned much more by transporting the gas to the continent than by producing and selling it. The long-term take-or-pay contracts are no longer safe. In Germany, the power market is quickly opening for competition, implying falling prices and lapsing long-term contracts. A similar development is likely to occur in the gas market. From Norwegian quarters there has been little interest in establishing oneself in the gas markets on the continent, which worries the author. However, the traditional contracts will have to be renegotiated so that the prices will reflect the real competition in the market. It is argued that a sensible Norwegian strategy will be to prepare for a new world for gas, not to hold tight to historical positions. It is suggested that old plans to establish a gas transport company, Gassledd, should be revived. Such a company would be subject to the European Gas Directive and would have to admit a third party. It is likely that the Norwegian opposition to liberalization of the European gas market will one day appear poorly thought out, and that defensive considerations have overshadowed new opportunities

  3. The design of tomorrow's European electricity market; Das europaeische Strommarktdesign der Zukunft

    Energy Technology Data Exchange (ETDEWEB)

    Kranner, Karl; Sharma, Stephan [Verbund AG, Wien (Austria). Geschaefststeuerung und Marketing

    2013-01-15

    In today's times of rising feed-in rates from renewable energy and competing market models, the need for an integrated European energy market is growing ever more urgent. The first phase of liberalisation of the European electricity markets was marked by the development of national sub-markets which differed in their degree of liberty. Due to network bottlenecks at the borders, substantial price differences were seen to arise between market regions, with the exception of those between Germany and Austria. This leads to the question as to how the integration of the internal European energy market can best be brought about. A six-point programme elaborated by Verbund AG banks on market mechanisms rather than regulation as a means of strengthening the electricity market.

  4. European energy market in 1980. Volume I

    Energy Technology Data Exchange (ETDEWEB)

    Ray, G; Robinson, C

    1975-01-01

    Three important general influences now affecting energy markets are: (1) exploitation of bargaining power by exporters of raw materials (especially oil); (2) changing attitudes in the developed world towards economic growth; and (3) the unprecedented combination of rapid inflation and serious recession. Fears of energy shortages helped precipitate the world crisis, but there is no energy famine imminent. The rise in energy prices resulted from use of OPEC's quasi-monopoly power rather than from real energy shortages. It is projected that European fuel markets in the next few years will be influenced by: poorer economic growth prospects, the increase in energy prices, oil-saving measures caused by consumers' adjustments over some years to the past huge oil price increases, and attempts by European governments to reduce dependence on OPEC oil. Possible substitutes for OPEC oil are their own various sources of crude oil, European natural gas, and electricity from nuclear fission. EEC's latest energy strategy calls for adequate supplies of cheap energy with minimum damage to the environment. Energy forecasts up to 1980 are given for the nine EEC countries and for Norway and Sweden. Data on energy demand, fuel consumption, and production are summarized. It is felt that, by 1980, Netherlands, United Kingdom, and Norway should be producing more energy than they consume. (MCW)

  5. Essays on financial market integration

    NARCIS (Netherlands)

    Pungulescu, C.

    2009-01-01

    The four essays in this dissertation address these main questions and alternate a general perspective with focused analysis on specific measures of integration and regions, providing several novel answers. First, new relevant proxies are proposed to measure financial market integration. They give

  6. When Culture Hampers European Integration

    DEFF Research Database (Denmark)

    Juul Petersen, Jeppe

    2016-01-01

    This article deals with Denmark’s skeptical attitude towards the EU cooperation. From a hermeneutical-institutional approach the aim of this article is to analyze why Denmark has been rejecting several initiatives from the EU. It illustrates how different democratic understandings hamper European...... integration. Based on Ronald Dworkin’s theoretical framework the article discusses two different perceptions on democracy: majoritarian democracy and constitutional democracy. It is shown when and why EU’s member states prefer to handle EU-related judicial disputes without involving supranational institutions....... In addition, the article provides tentative comparisons to Britain and the Nordic countries since they show similar attitudes to supranational institutions. The article concludes that Denmark’s majoritarian democracy provides political cultures incompatible with the EU’s constitutional democracy and this can...

  7. Price dynamics in European petroleum markets

    International Nuclear Information System (INIS)

    Wlazlowski, Szymon; Giulietti, Monica; Binner, Jane; Milas, Costas

    2009-01-01

    This paper analyses horizontal and vertical price dynamics in the EU petroleum markets. The results indicate that the cross-country price differentials have significant impact on the local price adjustments. We investigate the cross-national price spill-overs and find that the extent of the welfare transfer due to asymmetric price transmission, when analysed in a cross-country setting, is less pronounced than claimed in previous contributions in this area. We also find empirical evidence, although indirect, for the politically charged concept of 'fuel tourism', using a pan-European cross-product time series dataset. (author)

  8. Banking Integration in European Context

    Directory of Open Access Journals (Sweden)

    Roxana Bădîrcea

    2016-05-01

    Full Text Available The integration of different states in a already existing union or in a new one represents a long-lasting process involving harmonisations on various fields – political, economic, legislative, social, cultural, technological, informational, etc. Besides the integration of the states and of the different authorities in a common mechanist, the business organizations also have to comply with certain standards and to align to certain procedures. The banking system is not an exception being probably one of the pillars of the economic and financial integration of a state in a union. Banking integration may be considered the process leading to a convergence towards a single market for all products, processes, procedures, standards, transactions from the banking field. All sets of standards, mechanisms and procedures should be observed both by banks, regulation and control bodies, but also by customers. Only in this way one can create the premises for the most favourable banking transactions. The integration of the banking system in a union is determined, conditioned and influenced by a series of factors. Based on the data published by the Bank for International Settlements, the authors carry out a close and pertinent empirical analysis of the banking assets flows between the Eurozone countries in the period 2000-2014. The paper also deals with the commitments that the recent economic-financial crisis created on the banking assets flows. The authors resort to regression equations in order to demonstrate the connection between the effects of banking integration and various factors involved (the relative dimension of the country, the significance of the banks in the financial system, the Herfindhal index, the degree of concentration or dispersion of the property on banks, the degree of independence, the tradition of law. In order to measure the level of banking integration of the national bank systems, the indices we used are the degree of openness

  9. Market Integration of Fish in Europe

    NARCIS (Netherlands)

    Nielsen, M.; Smit, J.G.P.; Guillen, J.

    2009-01-01

    This paper examines market integration between fish species in Europe, taking international market integration into account. Based on Juselius (2006), market integration is found both on the fresh and frozen markets. The Law of One Price is in force on the fresh market within the segments of

  10. Portfolio Diversification in the South-East European Equity Markets

    Directory of Open Access Journals (Sweden)

    Zaimovic Azra

    2017-04-01

    Full Text Available Diversification potential enables investors to manage their risk and decrease risk exposure. Good diversification policy is a safety net that prevents a portfolio from losing its value. A well-diversified portfolio consists of different categories of property with low correlations, while highly correlated markets have the feature of low possibilities for diversification. The biggest riddle in the world of investments is to find the optimal portfolio within a set of available assets with limited capital. There are numerous studies and mathematical models that deal with portfolio investment strategies. These strategies take advantage of diversification by spreading risk over several financial assets. Modern portfolio theory seeks to find the optimal model with the best results. This paper tries to identify relationships between returns of companies traded in South-East European equity markets. A Markowitz mean-variance (MV portfolio optimization method is used to identify possibilities for diversification among these markets and world leading capital markets. This research also offers insight into to the level of integration of South-East European equity markets. Principal component analysis (PCA is used to determine components that describe the strong patterns and co-movements of the dataset. Finally, we combined MV efficient frontier and equity, which represent PCA components, to draw conclusions. Our findings show that PC analysis substantially simplifies asset selection process in portfolio management. The results of the paper have practical applications for portfolio investors.

  11. IMPACT OF EUROPEAN INTEGRATION ON COMPETITIVENESS OF CZECH REGIONS

    Directory of Open Access Journals (Sweden)

    Dušan Litva

    2017-12-01

    Full Text Available Economic integration supports removal of all obstacles (in economy, trade, tax, administration or industrial area and establishment of common rules for market competition. Basic benefit of economic integration is thus occurrence of real or potential competitiveness effects. European integration can influence competitiveness of firm, regions or countries. There are existing agglomeration forces causing space and economic concentration and disperse forces working just opposite way. Both effects are influenced by access to a single market and removal of trade barriers. As a consequence, agglomeration effects are expected to dominate. European Commission established RCI (Regional Competitiveness Index to enable comparison of competitiveness of European regions. Aim of this study is exploration of changes in competitiveness of Czech regions after accession to the European Union as there are no studies analysing regional competitiveness in Czech Republic as a consequence of European integration process via index based approach. Analysis of z statistics of primarily data published by European Commission is used to evaluate theoretical concept of disperse and agglomeration forces. Based on RCI analysis are obvious growing discrepancies with dominant position of Prague and Central Bohemia in comparison with other Czech Regions. Significant differences can be seen in areas of innovations, business sophistication and education. On the opposite, positively can be evaluated lower variability of competitiveness between Czech regions in indicators of infrastructure, institutions and technological readiness. Those indicators could be influenced by European cohesive and regional politics. Decisions on governmental level should follow Europe 2020 strategy and transformation to knowledge based economy.

  12. The Single Market and Synchronized Mechanisms for the Exercise of Administrative Functions: Converging Pathways or New Pathways for Integration? The Case of the European Banking Union

    Directory of Open Access Journals (Sweden)

    Giglioni Fabio

    2017-11-01

    Full Text Available The EBU represents a clear investment in administrative integration with clear implications for the constitutional features of the EU. This paper aims to give an analysis of the administrative arrangements, through which the functions of supervision and resolution are affecting the single financial market. This case study is very interesting because these functions represent a genuine novelty in the history of financial integration since they are pre-ordained to a specific public interest: financial stability. Particularly, they cause a shift in the decision gradient from the technical to the political, as market integrity is less and less the key interest compared to financial stability. However, this wider discretionary power is not adequately counteracted by checks and balances in favour of accountability. As a result, the EBU makes a new contribution to the well-known ‘fragmentation of the executive power’ of the EU by introducing a new governance tool positioned between the Communitarian and Intergovernmental Method, but its development is still full of uncertainties given that constitutional equilibrium is far from being definitively reached.

  13. Integrated Supervision of the Financial Market without the UK?

    Directory of Open Access Journals (Sweden)

    Michal Janovec

    2018-02-01

    Full Text Available This paper analyses the integration of financial market supervision at international level, particularly focusing on EU law and the actual processes taking place in this area considering Brexit as its part. Current legislative action at EU level has a significant impact on legislation in all member countries of European Union. This paper seeks, among other things, to find the causes of the increasingly ongoing process of integration of financial market supervision and determine whether or not the direction in which the international integration is going is the right one. The objective of this paper is to determine whether or not the process of integration increases the efficiency of financial market supervision itself and helps to develop the European single market, while simultaneously reducing systemic risk to financial market stability.

  14. A FRAMEWORK ANALYSIS OF EUROPEAN LABOUR MARKET POLICIES

    Directory of Open Access Journals (Sweden)

    Graţiela Georgiana Carica

    2011-03-01

    Full Text Available The purpose of the paper is to analyse European labour market policies and their integrated guidelines, by highlighting various measures that need to be adopted in order to increase labour productivity, with positive effects on long-term economic development. The paper methodizes the main conditions complied by structural reforms in order to encourage labour employment and the policies that frame a more efficient unemployment insurance system crucial to increase security while encouraging the unemployed to look for a job and to accept a job offer, respectively on flexicurity policies. We found that employment rates are generally associated with large expenses on labour market policies and with an increased number of participants to programs developed within these types of policies. The degree of influence and strong dependence between outcome and labour market policies are illustrated in various ways and discussed within the paper.

  15. Integrating Renewables in Electricity Markets

    DEFF Research Database (Denmark)

    Morales González, Juan Miguel; Conejo, Antonio J.; Madsen, Henrik

    in the electricity market. • The development of procedures to enable demand response and to facilitate the integration of stochastic renewable units. This book is written in a modular and tutorial manner and includes many illustrative examples to facilitate its comprehension. It is intended for advanced...... such as: • The modeling and forecasting of stochastic renewable power production. • The characterization of the impact of renewable production on market outcomes. • The clearing of electricity markets with high penetration of stochastic renewable units. • The development of mechanisms to counteract...

  16. The liberalisation of the continental European electricity market : lessons learned

    International Nuclear Information System (INIS)

    Haas, R.; Auer, H.; Keseric, N.; Glachant, J.M.; Perez, Y.

    2006-01-01

    Before 1990, nearly all electricity supply companies in continental Europe (CE) were vertically integrated in a franchise market, either state-owned or under price-regulated mixed private-public ownership. In 1996, the European Commission (EC) issued a directive for a common electricity market, which launched the liberalisation of the electricity market in continental Europe (CE). The ultimate objective was to lower electricity prices throughout Europe by promoting competition in generation and supply through price deregulation and privatization. The intention of the EC was to create one common European electricity market. This paper analyzed the evolution of this market along with conditions needed to enhance competition in the long term. It also presented background information with major data on electricity supply and demand in the CE markets and outlined EC and national governments' market liberalisation initiatives and the major changes that countries have made. Currently, there are at least 7 distinct sub-markets separated by partly insufficient transmission capacity and differences in access conditions to the grid. In 2004, the total demand in the CE area was 2300 TWh. This paper also summarized generation capacity and load in CE; imports and exports between CE countries; past and current transmission issues; political issues for restructuring; providing non-discriminatory access to the market and to the grid; the new institutional and regulatory environment and the promotion of renewables. The performance of the market was also reviewed with particular reference to market access, mergers, acquisitions, market concentration, and the evolution of both wholesale and retail electricity prices. It was concluded that in order to bring about effective competition in the long run, the following conditions would be required: complete ownership separation of the transmission grid from generation and supply in all countries and sub-markets; adequate capacity margin in

  17. The liberalisation of the continental European electricity market : lessons learned

    Energy Technology Data Exchange (ETDEWEB)

    Haas, R.; Auer, H.; Keseric, N. [Vienna Univ. of Technology, Vienna (Austria). Energy Economics Group; Glachant, J.M.; Perez, Y. [Paris-Sud Univ., Paris (France). ADIS-Group Reseaux Jean-Monnet

    2006-10-01

    Before 1990, nearly all electricity supply companies in continental Europe (CE) were vertically integrated in a franchise market, either state-owned or under price-regulated mixed private-public ownership. In 1996, the European Commission (EC) issued a directive for a common electricity market, which launched the liberalisation of the electricity market in continental Europe (CE). The ultimate objective was to lower electricity prices throughout Europe by promoting competition in generation and supply through price deregulation and privatization. The intention of the EC was to create one common European electricity market. This paper analyzed the evolution of this market along with conditions needed to enhance competition in the long term. It also presented background information with major data on electricity supply and demand in the CE markets and outlined EC and national governments' market liberalisation initiatives and the major changes that countries have made. Currently, there are at least 7 distinct sub-markets separated by partly insufficient transmission capacity and differences in access conditions to the grid. In 2004, the total demand in the CE area was 2300 TWh. This paper also summarized generation capacity and load in CE; imports and exports between CE countries; past and current transmission issues; political issues for restructuring; providing non-discriminatory access to the market and to the grid; the new institutional and regulatory environment and the promotion of renewables. The performance of the market was also reviewed with particular reference to market access, mergers, acquisitions, market concentration, and the evolution of both wholesale and retail electricity prices. It was concluded that in order to bring about effective competition in the long run, the following conditions would be required: complete ownership separation of the transmission grid from generation and supply in all countries and sub-markets; adequate capacity

  18. CROATIAN HONEY MARKET IN EUROPEAN ENVIRONMENT

    Directory of Open Access Journals (Sweden)

    Dragana Dukić

    2004-06-01

    Full Text Available This examination is based on comparison of honey production, in countries of European Union, transition countries and The Republic of Croatia. The situation in Croatia is shown with all information about honey production. All data are compared with already managed European countries. In comparison with registrated number of beekeepers and hives, Croatia belongs to transition countries with the smallest number of beekepers and hives. On the other hand, values, such as, number of hives per beekeper and average honey production by hive, classify Croatia ahead of transition countries. There are very few professional beekepers in Croatia, as well as in other transition countries, but not countries of The European Union. Honey production in Croatia has been increasing last seven years and in the last few it increased more than 50%. Export of honey in the last 2 years is half of the complete honey production, which accomplish conditions for export enlargement. At the same time, import of honey is considerable reduced. Conditions for export can be better with production of biological clean honey (eco-honey, since Croatia has great resources for it. Also, cost of Croatian honey on the foreign market, will be considerable higher.

  19. Experiencing European integration: transnational lives and European identity

    NARCIS (Netherlands)

    Kuhn, T.

    2015-01-01

    European integration has generated a wide array of economic, political, and social opportunities beyond the nation state. Scandinavians spending their retirement at the Mediterranean coast; Germans employing a Polish caretaker; international exchange students staying in Prague; Italian baristas

  20. Integration Policies and Immigrants’ Labor Market Outcomes in Europe

    Directory of Open Access Journals (Sweden)

    Irena Kogan

    2016-06-01

    Full Text Available This article assesses whether two integration policy measures (labor market training and counseling reach the immigrants who need them and whether these policies improve immigrants' labor market situations. We first examine the comprehensiveness of integration policies by linking Migration Integration Policy Index scores of immigrants' labor market mobility with levels of immigrant participation in labor market training and counseling in 15 European countries. We find that provision with labor market training does not entirely correspond to policy intentions, whereas labor market counseling more closely achieves policies' proclaimed aims. Second, we carry out propensity score matching analysis to estimate the effectiveness of immigrants' integration policies. We find that labor market training and counseling do not improve immigrants' employability or job status in three of the four analyzed countries, which lends weak support to the productivity skills argument, emphasizing instead the validity of the signaling and selection perspectives.

  1. The European Market for Seasonal Gas Storage

    International Nuclear Information System (INIS)

    Mahan, A.

    2006-02-01

    European demand for gas will grow in the years to come. Simultaneously, gas production in Europe will decrease and imported gas will be needed to replace indigenous production. Gas demand is not constant during the year. There are variations in demand on different timescales ranging from seasonal to hourly. Variations in demand are characterised by two main parameters: working volume and deliverability. Working volume - the amount of gas that can be supplied above the baseload production volume during a long (cold) period- is primarily needed to cope with the summer-winter pattern of gas consumption. Most of the summer-winter pattern comes from the temperature sensitive gas consumption by households and service industries. Gas usage by industry and the power sector are more evenly spread throughout the year and need less working volume. Deliverability - the amount of gas per hour that can be generated on a (very) cold day above the baseload capacity - is the ability to produce large volumes during short periods, e.g. for extremely cold days, or during peak periods during a day. In this paper we argue that a large amount of additional working volume will be required over the coming years. First, flexible European production will be replaced by long-distance import gas, and second, the gas market is expected to grow further. Todays market appears focus mainly on cavems for storage volume. Cavems have little working volume but are ideal for trading purposes. Consequently, Europe may be facing a deficit in working volume, i.e. the ability to cope with seasonal changes in demand. This paper aims to widen the discussion of this matter and give rise to this concern by setting out a broad analysis, exploring the market drivers for seasonal storage and identifying the public interest issues for this market. Chapter 2 gives an overview of demand for and supply characteristics of gas flexibility. Chapter 3 describes the role of gas storage facilities in the gas market

  2. The Political Psychology of European Integration

    DEFF Research Database (Denmark)

    Manners, Ian James

    2015-01-01

    express for the EU and fellow Europeans, and the passion with which supporters of the EU argue for greater integration and enlargement are today central to understanding European integration. Being mindful of Europe - reflecting on the ways in which psychology and politics are deeply implicated in under......In an era of European crises over political legitimacy, economic austerity, and collapse of confidence in the EU the topic of European integration has be-come a very emotional subject. The anger which protestors demonstrate against economic austerity, the hate which nationalist far-right parties...

  3. The interdependence of major european stock markets: evidence for Greece

    OpenAIRE

    Καινούργιος, Δημήτριος Φ.; Σαμίτας, Αριστείδης Γ.

    2003-01-01

    This paper provides new evidence on the relationship between the Greek "blue chip" stock market and the six relative European markets by applying cointegration tests. The time period examined is 1998 to 2000, which marks the entry of Greece to the European Exchange Rates Mechanism II. The empirical results indicate that the Athens Stock Exchange has no considerable links, except for one case, with any other European developed markets examined. These findings have some significa...

  4. Market integration and market concentration in horizontally differentiated industries

    OpenAIRE

    Eckel, Carsten

    2001-01-01

    This paper derives the impact of market integration on equilibrium firm size and market concentration in horizontally differentiated industries. We show that market concentration (measured by the number of firms) can rise as a consequence of market integration if firms engage in R&D competition. We also demonstrate that whether concentration occurs or not depends on the R&D production function and on consumer preferences. This result implies that the welfare effects of market integration are ...

  5. Integration of liberalised energy market

    International Nuclear Information System (INIS)

    Klinge Jacobsen, H.; Fristrup, P.; Munksgaard, J.; Pade, L.L.; Henriksen, T.C.

    2004-03-01

    The markets for electricity, natural gas and district heating are inter-linked both with respect to the energy flows and with respect to ownership of supply sources and infrastructure. The extent and the possible consequences of these linkages are examined in this report. The options for public interventions in these markets are analysed to compare instruments with respect to their ability to provide the necessary incentives for an efficient functioning of the liberalised markets. Aspects of retail markets with households facing multi-product distribution companies and aspects of the production of combined heat and power based on natural gas has been covered. This project identifies some important aspects related to final consumers and the interaction of markets with different types of regulation and scope for liberalisation. From a Danish perspective the district heat market and the dependence on market conditions for natural gas is a specific concern. Consumer concerns also relate to the creation of multi-product energy distribution companies that are privately owned and possibly controlled by foreign interests. Such companies might use bundled sales of energy products to extent their dominant position in one market e.g. a regulated heat market to a market with considerable competition (electricity). Bundled sales would not necessarily result in a loss for the consumer due to economies of scope in supplying energy products. However, the regulatory authorities responsible for district heat prices will have a more complicated job in surveying the bundled price setting. Integration of activities within natural gas distribution and CHP production has been analysed with respect to incentives and welfare implications. Results of the project point to critical market conditions and identify areas of concern for regulatory policies. The analysis shows that there is a large welfare loss associated with having monopolies in both natural gas supplies and the CHP production

  6. Structural change in Europe's gas markets: three scenarios for the development of the European gas market to 2020

    International Nuclear Information System (INIS)

    Ellis, A.; Bowitz, E.; Roland, K.

    2000-01-01

    Against the background of the European Union's Gas Directive, and the emergence of new players and markets in Europe's gas sector, this paper explores how company actions could shape the future for the gas industry. Starting with an examination of company strategies this paper develops three scenarios for the future: a 'Gradual Transformation' scenario where a single European gas market develops that is essentially oligopolistic in nature; a 'Vertical Integration' scenario, where upstream and downstream gas companies merge to form a vertically integrated gas supplier; and a 'Pull the Plug' scenario, where the current market structure decomposes into a competitive market. These scenarios are examined in terms of their impact on gas prices, demand and the distribution of gas rent along the supply chain. The paper highlights the fact that the EU's gas Directive is not sufficient for the introduction of competition into Europe's gas markets, but that company actions will be the key determinant, and they may favour alternative market structures. (Author)

  7. New structures in the European gas market

    International Nuclear Information System (INIS)

    Tangen, Kristian

    1997-01-01

    The aim of this study is to provide a background for assessing elements of change in the European gas market that in the long run may produce new framework conditions for Norwegian gas exports. It will also serve as an empirical basis for further studies. The main question is: What can the extension of the pipeline network and the growing number of actors tell us about future competition in spite of the fact that both Russia, Algeria and Norway have non-contracted capacity in the pipelines they are building. A number of uncertainties make it hard to draw any clear conclusions about a totally different competitive situation than only a few years ago. In the Netherlands groups of former distribution companies are threatening Gasunies' monopoly while Ruhrgas' attempt to expand into Austria may lead to gas to gas competition there. Signs of a similar development are seen in Italy and Spain as well. Increasing competition can be explained partly by the growing number of actors downstream in the gas market - in trade, transmission and among the large consumers, the electricity producers, the consequence of direct volumes and of shorter duration which in itself promotes competition. Several large pipeline projects have been carried through in co-operation between several actors which indicates that new types of projects are being developed in order to reduce risks for each actor. These will be easier to realise in the absence of long-term ''take-or-pay'' contracts at company level, what we may call companies rhetoric and argumentation as a result of comprehensive market positioning. Furthermore it seems likely that a kind of spot market will develop. Even if we can expect that only small volumes will be traded through this channel at first. Such a development may have considerable influence on prices in the long run. 5 tabs, 29 refs

  8. The impact of European integration on U.S. companies

    International Nuclear Information System (INIS)

    Ludolph, C.M.

    1992-01-01

    This paper reports that the European Market for Minerals, particularly coal has been growing rapidly. The primary sources of demand are electrical production which for a variety of environmental and energy policy reasons has become the energy source of choice in the European community in the 1990s. The EC integration process will increase demand for electrical energy and coal in the north since this is the primary source of energy and alternatives like nuclear have stabilized for at least the next ten years. Coal and electricity demand in the south of Europe should increase even more rapidly because new markets are opening as electricity use intensifies

  9. Towards a single European electricity market. A structured approach to regulatory mode decision-making

    International Nuclear Information System (INIS)

    De Jong, H.M.

    2009-01-01

    This study focuses on the processes through which the rules and regulations that govern European electricity markets - and inherently, their integration process - are established. So far, European policy makers have largely followed a 'trial-and-error' approach to finding an appropriate regulatory mode (process) for dealing effectively with market integration issues. This unstructured approach to regulatory mode selection leads to several problems: - Today's trial-and-error strategy of shifting from one regulatory mode to another is time-consuming. - In the regulatory mode selection process, certain key principles of good governance are insufficiently considered. - European regulatory processes are experienced as vague, intransparent, and illegitimate by 'outside' stakeholders. This study develops a 'structured approach to regulatory mode decision-making' (STARMODE) based on the theory of decision modelling in policy management and a case study exploring three key market integration issues in the field of electricity markets: interconnector investment, congestion management and market transparency. The main objective is to present a systematic and comprehensive framework for analysing and improving regulatory mode decision-making in the context of the European Union, focusing on electricity market integration. The STARMODE approach is generally applicable to (and relevant for) European market integration issues in industries characterized by a natural monopoly and/or an essential service. The approach may also contribute to national regulatory mode decision-making and multi-state decision-making in other continents.

  10. Testing market integration for Kenyan pineapples. | Onyuma ...

    African Journals Online (AJOL)

    The market structure was found to be oligopsonistic in nature with aspects of collusion amongst the urban middlemen and local market traders thus barring further entry by other potential actors. There was little market integration between urban markets and producing markets, and very low or no integration between the ...

  11. The Marketing Plan: An Integrative Device for Teaching Marketing Management.

    Science.gov (United States)

    Berdine, W. R.; Petersen, James C.

    1980-01-01

    The importance of the marketing plan is stressed as an integrative device for teaching marketing management, and a structure is presented to assist students in designing a marketing plan. Components of this plan include marketing objectives, targeting market and buying motives, external environment and competition, product, price, and promotion.…

  12. Towards a single European electricity market : A structured approach to regulatory mode decision-making

    NARCIS (Netherlands)

    De Jong, H.M.

    2009-01-01

    This study focuses on the processes through which the rules and regulations that govern European electricity markets - and inherently, their integration process - are established. So far, European policy makers have largely followed a 'trial-and-error' approach to finding an appropriate regulatory

  13. Prospects of the European gas market

    International Nuclear Information System (INIS)

    Kjarstad, J.; Johnsson, F.

    2007-01-01

    This paper discusses prospects for increased consumption of natural gas within the European Union (EU) up to 2030. Particular emphasis is on the power generation sector, where the main growth in demand is expected to occur, on supply and infrastructural constraints and on future price of natural gas. It can be concluded that EU gas-import needs will increase substantially up to 2010, driven by a combination of rapid increase in demand in southern Europe and declining production in northern Europe. As a result there will be an increased import dependency which will affect security of supply, not only in the gas sector but also in the electricity sector. Gas demand after 2010 will partially depend on the level of continued CO 2 emission restrictions, a possible nuclear phase-out in the UK, Germany and Belgium and to what extent the option to store CO 2 in subsurface reservoirs will be applied. However, supplies of gas are plentiful, at least in the medium-term up to 2010/2015, and a number of new countries will emerge as substantial suppliers to the European gas market, increasing competition and possibly leading to a situation of oversupply between 2008 and 2012 which in turn may create a downward pressure on gas prices. In addition, the US market may, pending on demand and indigenous production, experience considerable oversupply between around 2008 and 2015, reducing the possibilities of conducting arbitrage between the two main markets in the Atlantic basin and further contributing to a downward pressure on the gas price. On the other hand, the oil price will continue to be a major determinant of the gas price and a tight oil supply/demand balance will create an upward pressure on the gas price. Global liquefaction and regasification capacity is expected to more than double between now and 2010 leading to a more flexible and global gas trading and increasing spot sales and although the cost of LNG has decreased substantially over the past three decades it is

  14. Centre of the European gas market. The European Autumn Gas Conference

    International Nuclear Information System (INIS)

    Van Hasselt, F.; Van der Wal, W.; Ruinen, H.

    1998-01-01

    From the results of the 1997 European Autumn Gas Conference in Barcelona, Spain, it appears that the European gas industry is mainly focused on the liberalization of the European energy market. The main topic of the Conference was 'dealing with surplus'. A brief overview is given of the natural gas trade developments in the European countries. 1 ill., 1 tab. 2 ills

  15. A GLANCE AT THE EUROPEAN ENERGY MARKET LIBERALIZATION

    Directory of Open Access Journals (Sweden)

    Delia Vasilica Rotaru

    2013-03-01

    Full Text Available This paper offers a presentation on the liberalization process on the energy markets that started two decades ago and takes place across Europe in the attempt to create a single European energy market. Several benefits are expected following the deregulation process such as higher competition, market transparency, lower prices, increased efficiency and product development in the clients favour. Three very different energy markets are analyzed before and after the liberalization process – UK, Germany and France – a short insight on the current Romanian energy market is also offered. The aim of this paper is to provide a better understanding on liberalizing European energy markets.

  16. European Integration and Outward FDI from Central and Eastern Europe

    DEFF Research Database (Denmark)

    Jindra, B.; Hassan, S. S.; Gunther, J.

    2015-01-01

    countries (CEECs) within the EU 27 (1996-2010). We find that the EU integration process is related with increasing importance of market access and less emphasis on labour cost advantages. We find heterogeneity in the valuation of foreign knowledge-related assets. The location probability within the EU15......The European Union (EU) Member States in central and eastern Europe (CEE) witnessed a surge in outward foreign direct investment (OFDI) between 2000 and the start of the global financial crisis. This article investigates whether the European integration process altered the relative importance...

  17. NATGAS. A Model of the European Natural Gas Market

    International Nuclear Information System (INIS)

    Mulder, M; Zwart, G.

    2006-02-01

    The NATural GAS model is an integrated model of the European wholesale gas market providing long-run projections of supply, transport, storage and consumption patterns in the model region, aggregated in 5-year periods, distinguishing two seasons (winter and summer). Model results include levels of investment in the various branches, output and consumption, depletion of reserves and price levels. The NATGAS model computes long-term effects of policy measures on future gas production and gas prices in Europe. NATGAS is an equilibrium model describing behaviour of gas producers, investors in infrastructure (pipeline, LNG capacity, as well as storage), traders and consumers. NATGAS covers the main European demand regions, including the United Kingdom, Germany, the Netherlands and Italy. Moreover, it covers the main origins of supply on the European market, such as Russia, Norway, Algeria, the Netherlands, the United Kingdom and LNG. In this memorandum, we first discuss the theoretical background as well as the model specifications. Afterwards, we describe the data we used, present some results and assess validity by computing sensitivities and comparing with current developments

  18. ''Polish parliament'' or European integration?

    International Nuclear Information System (INIS)

    Bertelsen, Torsten H.; Soerheim, Paul J.

    2003-01-01

    Exceedingly high prices on electricity have directed focus on the need for increased import of electricity to the Nordic countries from other power markets. In this connection Poland may be attractive because of this country's considerable capacity and cable to Sweden. But with extensive need of modernization, unclear political priorities and weak competition in the power market, the future is uncertain

  19. Adoption of the Objectives of the Monetary and Economic Union and European Financial Integration

    Directory of Open Access Journals (Sweden)

    MĂDĂLINA RĂDOI

    2014-05-01

    Full Text Available The European concerns, with old traditions in forming multinational financial markets, developed in the integration of the financial markets and of the European banking systems which allowed the investors from any European country to follow the orders on the best market, through the best beneficiary, benefitting from the most effective financial-banking services. This market offers sophisticated and modern financial tools, which cope with the needs of the invertors, portfolio managers, transnational companies and traders, having an impact over the balanced economic development of the European countries and unemployment reduction.

  20. European standards of the civil service integrity

    Directory of Open Access Journals (Sweden)

    L. V. Prudyus

    2016-09-01

    It was offered for further implementation of the European standards of integrity to develop a new Code of integrity for civil servants and take measures, which contain Anti-Corruption Strategy: adopt a law on the protection of persons who honestly reported regarding corruption offenses (denunciators, in particular a law concerning conducting the inspection of public servants on integrity.

  1. Organization and regulation of energy markets in the European Union

    International Nuclear Information System (INIS)

    Vasconcelos, J.

    2002-01-01

    The energy regulation policy and the organization of power matters in the European Union as well as the energy markets are discussed in this Keynote Paper. The Council of European Energy Regulators is introduced. The goal of the European Union regarding energy generation and consumption in the future are analyzed. (R.P.)

  2. The European gas market from a Belgian point of view

    International Nuclear Information System (INIS)

    Bouma, J.W.J.

    1993-01-01

    The European gas distribution industry will be faced with real challenges during the coming ten years. Additional import of natural gas from non-European Community countries will be required in view of the growing demand and the concomitant decrease in gas production in the European Community. This implies that facilities for the long-distance transport of gas will have to be built and that considerable investments are required. It is argued that the recommendation for the liberalization of the gas market by the Commission of the European Communities is unsuited to face future developments of the European gas market. (A.S.)

  3. The Integration of Corporate Non-Market and Market Strategies

    DEFF Research Database (Denmark)

    Xie, Peihong; Li, Xin; Xie, Xuemei

    2014-01-01

    Purpose: This paper aims to systematically examine the key notion of integration of non-market and market strategies in the increasingly popular study of corporate non-market strategies. Design/methodology/approach: This paper is based on a brief literature review of the non-market strategy (NMS...... explore how to seamlessly coordinate non-market and market strategies in order to gain maximal synergies. Originality/value: This paper is the first to examine the key notion of integration in a systematic manner. It is the first to propose a three-question solution to systematic understanding......) research that shows the existing literature does not offer a clear and systematic account of the key notion of integration. It suggests any systematic account of integration should address at least three interrelated questions, i.e. why, what and how to integrate non-market and market strategies? Findings...

  4. Integrated marketing communications in sport organizations

    OpenAIRE

    Gašović Milan

    2011-01-01

    Integrated marketing communications represent the unification of organization's marketing and communication activities. Sports organizations have the emphasized need for effective communication with their environment (the public, the media, advertisers, sponsors, and other subjects interested in their offer). Elements of the integrated marketing communications are: advertising, personal selling, sales promotion, publicity, public relations, direct marketing, Internet communications etc. Each ...

  5. The Integrative Dimension of the Economic Globalization in European Space

    Directory of Open Access Journals (Sweden)

    Daniela Mariana Alexandrache

    2010-06-01

    Full Text Available We believe that globalization and its socio-economic implications of the world and world economic crisis is one of the most debated issues from several years. The publication "The Economist’’ named globalization as the most used word of the century. The most relevant dimension of globalization is the economy with the more dynamic factors: technological development, the hegemony of liberal conceptions (closely linked to the triumph of the ideology of market economy and explosive development of countries or regions. Economic globalization has manifested a series of visible effects such as: the emergence of new markets and foreign trade (interconnected at global level, the appearance of: transnational companies, multilateral agreements on trade, broadening the scope of WTO, transformation of multinational companies in transnational companies and the emergence of global economic markets. Regionally, we noticed that the trendof concentration of economic activity is more pronounced and advanced in the European continent. Expanding globalization in Europe was achieved because of the fall of communism, and the neoliberal reformation which took place in Western European countries. Events like the fall of the Berlin Wall, followed by the fall of communism eradicated many political, economic, religious or cultural barriers. There were born new relations between state and market, public and private. European Union is, in our view, a regional office ofglobalization, representing the best performing integrative system in the world (by creating free trade area, customs union, common market, the Economic and Monetary Union. In terms of the European Commission,European model is a third way towards globalization, a middle path between protectionism and uncontrolled economy. To understand why the EU is an advanced approximation of globalization, perhaps a regional model of globalization, we must first understand the link between globalization and regional

  6. Time Varying Market Integration and Expected Rteurns in Emerging Markets

    NARCIS (Netherlands)

    de Jong, F.C.J.M.; de Roon, F.A.

    2001-01-01

    We use a simple model in which the expected returns in emerging markets depend on their systematic risk as measured by their beta relative to the world portfolio as well as on the level of integration in that market.The level of integration is a time-varying variable that depends on the market value

  7. Entomopathogenic nematodes in the European biocontrol market.

    Science.gov (United States)

    Ehlers, R U

    2003-01-01

    In Europe total revenues in the biocontrol market have reached approximately 200 million Euros. The sector with the highest turn-over is the market for beneficial invertebrates with a 55% share, followed by microbial agents with approximately 25%. Annual growth rates of up to 20% have been estimated. Besides microbial plant protection products that are currently in the process of re-registration, several microbial products have been registered or are in the process of registration, following the EU directive 91/414. Entomopathogenic nematodes (EPN) are exceptionally safe biocontrol agents. Until today, they are exempted from registration in most European countries, the reason why SMEs were able to offer economically reasonable nematode-based products. The development of technology for mass production in liquid media significantly reduced the product costs and accelerated the introduction of nematode products in tree nurseries, ornamentals, strawberries, mushrooms, citrus and turf. Progress in storage and formulation technology has resulted in high quality products which are more resistant to environmental extremes occurring during transportation to the user. The cooperation between science, industry and extension within the EU COST Action 819 has supported the development of quality control methods. Today four companies produce EPN in liquid culture, offering 8 different nematode species. Problems with soil insects are increasing. Grubs, like Melolontha melolontha and other scarabaeidae cause damage in orchards and turf. Since the introduction of the Western Corn Rootworm Diabrotica virgifera into Serbia in 1992, this pests as spread all over the Balkan Region and has reached Italy, France and Austria. These soil insect pests are potential targets for EPN. The development of insecticide resistance has opened another sector for EPN. Novel adjuvants used to improve formulation of EPN have enabled the foliar application against Western Flower Thrips and Plutella

  8. Kant's Theory of European Integration

    DEFF Research Database (Denmark)

    Harste, Gorm

      Abstract:Immanuel Kant developed a rather wide range of concepts to describe the process of an "ever broader union" of European states. Kant's theory posed a dilemma with two aspects. On the one hand republican states were free, and on the other they were obliged to follow rules of a union...

  9. European bond markets: do illiquidity and concentration aggravate price shocks?

    NARCIS (Netherlands)

    Boermans, M.A.; Frost, Jon; Steins Bisschop, Sophie

    2016-01-01

    We study the effects of market liquidity and ownership concentration of European bonds on price volatility during periods of market stress. Specifically, using security-by-security data from euro area investors we examine if market illiquidity and concentrated holdings explain the large price shocks

  10. The European gaseous market deregulation and its consequences for Russia

    International Nuclear Information System (INIS)

    Finon, D.; Locatelli, C.

    2002-07-01

    Russia, the first world producer of gas in 2001 is also the main producer in the european gas market. In this framework the evolution of its gas exportations market is a major stake for the russian gas industry and for the country economy. The consequences of this gas market deregulation are analyzed in this document. (A.L.B.)

  11. The liberalisation of the European electricity market : an unstructured restructuring process?

    International Nuclear Information System (INIS)

    Boisseleau, F.; Hakvoort, R.

    2005-01-01

    The European Union (EU) directive 96/92/EC defines common rules for the generation, transmission and distribution of electricity, paving the way for the liberalization of the electricity markets of EU member states. Member states are obliged to open their national electricity supply markets, meaning that eligible customers can choose their own suppliers. This paper discussed the process by which the countries of the EU have restructured their electricity markets, arguing that the process has focused on legal and organizational issues, rather than specific prescriptions for the economic design of the market. Although the objective of the EU directive was to create a competitive market, restructuring has led to 15 or more fragmented markets, each liberalized to a different degree and shaped following a wide range of different principles. Areas where the EU has failed to provide a coherent market view were discussed. Issues concerning short-term market arrangements, congestion management and long-term investment were examined. Section 1 of the paper focused on policy issues in the liberalization process, while section 2 emphasized the importance of market design. Section 3 addressed the need for market monitoring and the issue of market power. It was concluded that liberalization is only one step in the process that alone cannot deliver the expected benefits of single integrated European-wide market. At present, the European electricity market is hindered by a lack of proper design and sufficient transparency. 32 refs., 3 tabs., 4 figs

  12. Management and Marketing Elements in Maritime Cruises Industry. European Cruise Market

    Directory of Open Access Journals (Sweden)

    Romeo Boşneagu

    2015-05-01

    Full Text Available European cruises market has a major impact on all aspects of maritime industry: boarding ports, ports of call, shipbuilding, ship maintenance, supplies, sales and marketing, ship crews and administrative facilities. While in 2013, fiscal and economic conditions in Europe have continued to have a constraint to increasing demand for cruises, the number of passengers, Europeans or visitors of European ports, has grown moderately. For the next years, a higher growth of Europena market cruises is expected.

  13. The characteristic of marketing macro environment of European developing countries and Ukraine for company's marketing activity

    OpenAIRE

    Peresadko, Galina; Bakastov, Ihor

    2013-01-01

    Іn the report the comparative analysis of different European macro-marketing in developing countries and Ukraine. The analysis of the demographic, economic, natural, technological, political and cultural factors. Also the perspectives for Ukraine's marketing macro environment.

  14. Integrated marketing communications in sport organizations

    Directory of Open Access Journals (Sweden)

    Gašović Milan

    2011-01-01

    Full Text Available Integrated marketing communications represent the unification of organization's marketing and communication activities. Sports organizations have the emphasized need for effective communication with their environment (the public, the media, advertisers, sponsors, and other subjects interested in their offer. Elements of the integrated marketing communications are: advertising, personal selling, sales promotion, publicity, public relations, direct marketing, Internet communications etc. Each of these elements has some specifics which marketing specialists in sports organizations need to understand.

  15. Identifying Lead Markets in the European Automotive Industry

    DEFF Research Database (Denmark)

    Cleff, Thomas; Grimpe, Christoph; Rammer, Christian

    2015-01-01

    for automobiles and national markets differ considerably in their lead market potential. The German market is found to be most promising to serve as a lead market, while other European countries with a strong automotive tradition like France, Italy, the UK, and Sweden score lower. Our findings suggest that firms......This paper presents an indicator-based methodology to identify lead markets in the European automotive industry. The lead market approach tries to explain why certain countries are better positioned than others for developing and launching new products. While much research stresses the role...... of excellence in technology and interaction among users and producers, the lead market approach focuses on the role of demand characteristics. Based on the concept of innovation design, a lead market is defined as a country where customers prefer that design which subsequently becomes the globally dominant...

  16. A Market for Company Incorporations in the European Union?

    DEFF Research Database (Denmark)

    Birkmose, Hanne Søndergaard

    2005-01-01

    The article discuss the European market for company incorporation in light of the recent decisions of the European Court of Justice; Centros (1999 E.C.R. at I-1487), Überseering (2002 E.C.R. at I-9919) and Inspire Art (2003 E.C.R. at I-10155)......The article discuss the European market for company incorporation in light of the recent decisions of the European Court of Justice; Centros (1999 E.C.R. at I-1487), Überseering (2002 E.C.R. at I-9919) and Inspire Art (2003 E.C.R. at I-10155)...

  17. ANALYSIS OF LABOUR MARKET IN ROMANIA AND THE EUROPEAN UNION

    Directory of Open Access Journals (Sweden)

    Tanase Diana

    2013-07-01

    Full Text Available The paper aims at analysing the labour market, one of the most complex forms of market in economy. The present work forwards a comparative survey regarding the labour market in Romania and in the other European Union member states. The paper starts by highlighting general aspects related to labour market and continues by the presentation of the European Union countries’ ranking according to the labour market efficiency, top elaborated on the basis of the World Economic Forum data. Furthermore, the paper analyses labour productiveness, employment rate and unemployment rate both in Romania and in the other countries of the European Union. In the end the authors forward conclusions regarding the possibilities of increasing competitiveness on Romania’s labour market.

  18. European integration, energy and environment

    International Nuclear Information System (INIS)

    Nurmento, L.

    1993-01-01

    Today the creation of the internal market in EC is even reaching the field of energy although there are many difficulties caused by differences between the Member States. The Scandinavian Countries are advancing considerably further in liberating the energy market than the EC-outlines in evidence today. Environmental protection has gained more significance in EC recently. The most important regulations and directives are included in the EEA agreement. The directives are included in the EEA agreement. The implementation of the norms would not demand an increase in the level of environmental protection we have in Finland but it seems to be the target of enforcement to issue more strict limits than those in EC-directives. This kind of development can severely weaken Finland's ability to compete: especially as compliance with the directives is still a significant problem in EC

  19. European Regulatory Framework for Money Market Funds

    OpenAIRE

    Portuese, Aurelien; MacNeil, Iain

    2014-01-01

    Money market funds are widely used by all types of investors, including households, corporate treasurers, pension funds, or insurance companies, who regard money market funds as a ‘safe’ short-term liquid asset class for investing cash. In this case they are proxies to cash deposits. Money market funds are themselves key lenders to issuers of short dated high quality money market instruments. They provide an important source of funding for a variety of institutions such as sovereigns, banks, ...

  20. The European gas market at the 2008 prospects

    International Nuclear Information System (INIS)

    2004-11-01

    Because of the opening of European energy markets to competition and to the dynamism of gas consumption, the natural gas market has become very attractive. In parallel, the development of infrastructures (in particular for the LNG industry) offer setting up possibilities to newcomers. Moreover, the synergies linked to the gas/electricity convergence diminish the boundary between electricity and gas markets. In this context, the historical operators of European gas markets have to face the offensive of oil and electric power companies. This study tackles the following questions: what are the gas demand evolution prospects? What are the most attractive consumption areas? How gas prices will change in mid-term? What is the competitive intensity of national markets? Which commercial positioning is to be adopted? What future for dual offers? What is the advantage of regulated activities for operators? Who are the best positioned actors? What will be the mid-term role of Gazprom? What are the mid-term prospects of European market reconfiguration? This study analyses the strategy and positioning of the main European gas operators and shows their forces and weaknesses. It includes a financial comparison of the 20 main groups present in the European natural gas market. This analysis allows to propose 4 scenarios of mid-term evolution for this market. (J.S.)

  1. Natural gas and deregulation in the European Market

    International Nuclear Information System (INIS)

    Anon.

    2000-01-01

    The gas market is progressively moving towards new organizations under the effect of deregulation initiated in the United States, the United Kingdom and transposed to other countries, particularly in Europe, at least for the member countries of the European Union. Within the framework provided by this overall trend, Cedigaz proposes a study titled 'Natural Gas and Deregulation' in order to describe the main developments affecting these markets on account of deregulation. This report is structured on the basis of three main topics (market organization, marketing modes, pricing) which appears to be the most cogent in terms of deregulation. This grouping by major topics accordingly offers a relatively synthetic view of the main trends which could be observed in the European market, for example. The analysis is largely based on the example of the American market and, to a lesser extent, on the British situation. Incidentally, it has adapted the terms 'regulated market' to define conventional markets and 'deregulated market' to define markets which have incorporated the principle of Third Party Access (TPA). This is obviously a mere convention, since in both cases, the gas market, a network market, is regulated either by the State or by an independent agency. Also noteworthy is the diversity of the regulation methods for the network markets. While an underlying principle prevails throughout, particularly the introduction of TPA, political and energy considerations alike are liable to condition strongly the final structure of a given market. The apparently comparable British and American experience thus display substantial differences. In other words, one should not imagine a sudden transposition of either case to the European market. The different States preserve considerable leeway to guide market developments in one direction or another. On the whole, deregulation is not a frozen process, but has to adapt permanently to developments in a market stage-managed by

  2. European energy markets deregulation observatory. Winter 2002/2003 period

    International Nuclear Information System (INIS)

    Anon.

    2004-01-01

    Launched in 2002, the European energy markets deregulation observatory (EEMDO/OELME) aims at actualizing the main energy market indicators and at observing the advance of deregulation within the European countries. While for most of these markets, the deregulation of electricity has preceded the deregulation of gas, the natural gas market is at the evidence a key-market in Europe. For this reason, the 4. edition of the observatory (October 2003) takes into consideration for the first time the specific elements of gas markets, in addition to those of electricity markets. This article presents some excerpts of this last edition, published by Cap Gemini Ernst and Young, and synthesizes the present day situation of gas supplies and the conditions of network access by third parties. The informations reported in the EEMDO come from organizations like UCTE, Nordel, Eurelectric or from energy stock exchanges. (J.S.)

  3. DEEPENING SERVICES MARKET INTEGRATION - A CRITICAL ASSESSMENT

    Directory of Open Access Journals (Sweden)

    Jacques Pelkmans

    2007-12-01

    Full Text Available The greatest asset of the European Union is undoubtedly its internal market. However, the internal market is not completed: it suffers from a giant hole with respect to many services. The present contribution addresses the status of services in the internal market and, in particular, the horizontal liberalisation (or, the lack of it of services outside the two large sectors which greatly deepened market integration (6 modes of transport and 3 financial services markets. Because a horizontal perspective on services in the EU is still little understood, it is briefly summarized what services really are and how their regulatory logic in the internal market can help to classify them. The (strong economic case for deepening services market integration is built on recent empirical economic analysis as well as simulation. This is followed by a discussion, with flowchart, of the Bolkestein draft directive, against the backdrop of the frustrating lack of, or at best, selective progress on services for decades. A survey of economic impact studies of the draft directive is provided, too, underpinning its importance even when the infamous origin principle is taken out. Some light is subsequently shed on the tumultuous politicisation of the services debate. Emphasis is laid on the socio-economic context (which, it is submitted, sharpened the discussion at times into polarisation and a series of other factors such as the diversity of the national regulatory frameworks of services and the labour employed, the complexity of the draft directive, the potentially radical nature of the origin principle (especially for those not aware of the case law of the ECJ, the dominant role of the EP and the opportunism of leading national politicians. Finally, directive 2006/123 –meanwhile in force – is explained and briefly assessed. Apart from the conspicuous manifestation of 'Angst' in drafting the directive, the (de merits are set out. The conclusion is that a badly

  4. European Globalisation Adjustment Fund-Assistance in the Labour Market

    Directory of Open Access Journals (Sweden)

    Ramona Mariana CALINICA

    2016-12-01

    Full Text Available The intensification of globalization and through intense manifestation of the effects on recent economic and financial crisis, employment market has been affected, and at European Union level was considered increasingly necessary granting support for counter of the negative effects of the two phenomena on this market. European Globalisation Adjustment Fund is designed for a rapid reintegration of fired workers and increase of the employment potential of the workforce, after mass dismissals linked to the two phenomena mentioned above.

  5. Time Varying Market Integration and Expected Rteurns in Emerging Markets

    OpenAIRE

    Jong, F.C.J.M. de; Roon, F.A. de

    2001-01-01

    We use a simple model in which the expected returns in emerging markets depend on their systematic risk as measured by their beta relative to the world portfolio as well as on the level of integration in that market.The level of integration is a time-varying variable that depends on the market value of the assets that can be held by domestic investors only versus the market value of the assets that can be traded freely.Our empirical analysis for 30 emerging markets shows that there are strong...

  6. Registries in European post-marketing surveillance

    DEFF Research Database (Denmark)

    Bouvy, Jacoline C; Blake, Kevin; Slattery, Jim

    2017-01-01

    at gaining further insight into the European Medicines Agency's (EMA) requests for new registries and registry studies using existing registries and to review the experience gained in their conduct. METHODS: European Public Assessment Reports were consulted to identify products for which a request...

  7. The European Gas and Oil Market: The Role of Norway

    International Nuclear Information System (INIS)

    Harbo, F.

    2008-01-01

    The research question of this paper is related to the role of Norway in the European gas and oil market. This study aims to give a presentation of the energy policy in Norway and Norwegian participation at the European level. The first chapter will introduce Norwegian relations with Europe. For the purpose of my research, I will focus mainly on Norwegian energy policy in the second chapter, presenting Norway's oil industry in chapter 2.1.; Norwegian gas production in chapter 2.2.; and the Norwegian electrical power system in chapter 2.3. The sub-chapter 2.4. will analyse in detail the activity of the largest Norwegian oil and gas company, StatoilHydro. The third chapter will be dedicated to Norway's green energy policy (wind, sun and water), etc. The fourth chapter looks at the European perspective and will examine the European strategic gas and oil market in a globalized world. The fifth chapter will present Norway's participation in the European gas and oil market. Such strategic research must also include a look at the European Union's (EU) energy market development between Russia and Norway, which will be presented in chapter six. And finally, Norway's contribution to the development of an EU energy policy in fighting climate change will be emphasised in chapter seven. This research will analyse the following central issues: - Norwegian oil industry, - Norwegian gas production, - Norwegian electrical power system, - Norwegian challenges in the European gas and oil market. (author)

  8. The current situation and mid-term prospects for European electricity markets

    International Nuclear Information System (INIS)

    Helm, Dieter

    2013-01-01

    This analysis of the current situation and mid-term prospects for European electricity markets presents: the objectives of energy policy, the historical legacy, the attempts at European integration and the Internal Energy Market (IEM), the coming of the Climate Change Package, the impact of the world economic and Euro-zone crises, the impact of shale gas and the new world of fossil fuel abundance, the impact of renewables on emissions, the impact of renewables on electricity markets, the EU emissions trading system (EU ETS) and the renewables and the electricity markets, the coming of capacity crunch in some cases, the capacity markets, the return of central buyers and national energy policies, and what is to be done for the world electricity markets

  9. Cooperation or Localization in European Capacity Markets? A Coalitional Game over Graph Approach

    Directory of Open Access Journals (Sweden)

    Giorgos Stamtsis

    2018-06-01

    Full Text Available Capacity markets, as a means to address the capacity adequacy issue, are constantly becoming an important part of the European internal electricity market. The debate focuses on how the capacity markets will be smoothly integrated in one Pan-European power market, without resulting in multiple national fragmentations and consequently in economic efficiency losses. Cross-border participation and regional cooperation are considered as two sine qua non conditions in this respect. The present paper provides a coalitional game theoretical approach aiming to facilitate the cooperation of neighboring countries, when it comes to the security of electricity supply and the necessity of establishing a capacity market. Such an approach can support respective decisions about capacity markets cooperation as well as stress-test the benefits considering all cooperation possibilities.

  10. MULTIFRACTAL STRUCTURE OF CENTRAL AND EASTERN EUROPEAN FOREIGN EXCHANGE MARKETS

    Directory of Open Access Journals (Sweden)

    Cn#259;pun#351;an Rn#259;zvan

    2012-07-01

    Full Text Available It is well known that empirical data coming from financial markets, like stock market indices, commodities, interest rates, traded volumes and foreign exchange rates have a multifractal structure. Multifractals were introduced in the field of economics to surpass the shortcomings of classical models like the fractional Brownian motion or GARCH processes. In this paper we investigate the multifractal behavior of Central and Eastern European foreign exchange rates, namely the Czech koruna, Croatian kuna, Hungarian forint, Polish zlot, Romanian leu and Russian rouble with respect to euro from January 13, 2000 to February 29, 2012. The dynamics of exchange rates is of interest for investors and traders, monetary and fiscal authorities, economic agents or policy makers. The exchange rate movements affect the international balance of payments, trade flows, and allocation of the resources in national and international economy. The empirical results from the multifractal detrending fluctuation analysis algorithm show that the six exchange rate series analysed display significant multifractality. Moreover, generating shuffled and surrogate time series, we analyze the sources of multifractality, long-range correlations and heavy-tailed distributions, and we find that this multifractal behavior can be mainly attributed to the latter. Finally, we propose a foreign exchange market inefficiency ranking by considering the multifractality degree as a measure of inefficiency. The regulators, through policy instruments, aim to improve the informational inefficiency of the markets, to reduce the associated risks and to ensure economic stabilization. Evaluation of the degree of information efficiency of foreign exchange markets, for Central and Eastern Europe countries, is important to assess to what extent these countries are prepared for the transition towards fully monetary integration. The weak form efficiency implies that the past exchange rates cannot help to

  11. European networks in structural integrity

    International Nuclear Information System (INIS)

    Crutzen, S.; Davies, M.; Hemsworth, B.; Hurst, R.; Kussmaul, K.

    1994-01-01

    Several institutions and electrical utilities in Europe, including the Joint Research Centre (JRC) have the capability to deal problems posed by the operation and ageing of structural components and with their structural integrity assessment. These institutions and the JRC have developed cooperative programmes now organised in networks. They include utilities, engineering companies, R and D laboratories and Regulatory Bodies. Networks are organised and managed like the successful PISC programme: The Institute for Advanced Materials of JRC plays the role of Operating Agent and Manager of these networks: ENIQ, AMES, NESC, each of them dealing with a specific aspect of fitness for purpose of materials in structural components. There exist strong links between the networks and EC Working Groups on Structural Integrity Codes and Standards. (orig.)

  12. Integration of Capital Markets from Central and Eastern Europe: Implications for EU Investors

    Directory of Open Access Journals (Sweden)

    Alexandra HOROBET

    2014-04-01

    Full Text Available Our paper investigates the extent of capital market co-movements between three emerging markets Czech Republic, Hungary and Poland and three developed markets from the European Union – Austria, France and Germany. We test whether an increase in correlations between the six markets took place in recent years, as revealing higher integration of capital markets in the region. We find a statistically significant positive trend in cross-market correlations between 1999 and 2008, before the emergence of the global financial crisis. Movements in national stock markets are not fully synchronized, but increases in market volatilities lead to increases in cross-country correlations. There is a long-term relationship between some of these countries capital markets, and information is transmitted from one market to the other. Our findings confirm previous studies and lead to the conclusion that stock markets from Central and Eastern Europe became more integrated with the developed markets in European Union.

  13. European networks in industrial integrity

    International Nuclear Information System (INIS)

    Crutzen, S.

    1995-01-01

    Several institutions and electrical utilities in Europe, including the Joint Research Centre (JRC), have the capability to deal with several of the problems posed by the operation and aging of structural components and with their structural integrity assessment. These institutions and the JRC have developed cooperative programmes and organized themselves into networks. This article describes the structure and objective of the existing networks. 3 figs

  14. Russia's and the European union's gas interdependence. What balance between the market and geopolitics

    International Nuclear Information System (INIS)

    Finon, D.

    2006-01-01

    The purpose of this paper is to review the interdependence relation-ship between Russia and the European Union in the area of gas, by distinguishing the Russian seller's power risk from the issue of short term security, which are often mistaken one for the other The goal is to measure the economic risk associated with the seller's dominant position in the European market to appreciate the relevance of responses that can be made by European countries or the European Union. Firstly, the basically different nature of Russia and of the European Union is described, as well as the role played by its energy resources in the assertion of Russia's political power Secondly there is an analysis of the Russian seller's elements of dependence on the European market, before reviewing, thirdly, the risk of exercising Gazprom's market power in Europe. In closing is a review of the relevance of possible actions by the European Union and member countries to reduce that risk by facilitating the densification of the Pan-european Network, the establishment of entry points and market integration. (author)

  15. Secondary markets for transmission rights in the North West European Market. Position Paper of the North West European Market Parties Platform

    International Nuclear Information System (INIS)

    Van Haaster, G.

    2006-06-01

    The most important way to acquire cross border transmission rights in the North West European electricity market is through explicit auctions. Although market driven flexibility and therefore efficiency can be further enhanced. One way to this is to introduce a secondary market for transmission rights. In this paper the North West European Market Parties Platform (NWE MPP) proposes a model that is developed and preferred by the market parties. The paper will provide a converging contribution to the congestion management discussions in the North Western European region

  16. The European green electricity markets in 2010

    International Nuclear Information System (INIS)

    Meibom, Peter; Skytte, Klaus

    2003-01-01

    The market shares of different electricity producing renewable energy technologies in the green electricity markets in EU, and the size and prices obtained on these markets depends strongly on the market designs and support policies governing the development of these markets. These issues have been analysed with the use of the ADMIRE REBUS model. Costs data for all significant electricity producing renewable energy technologies and data on the sizes of the renewable energy resources in the EU are combined with different national development of the support policies for green electricity in the different EU countries towards a common EU market in 2010. The model simulates the operation of each green electricity market in EU and the interaction between the markets. Model results show that in a harmonized EU wide tradable green certificate system starting from 2010, i.e. in a system without technology-specific support, wind power will be the most competitive technology, but power plants using different types of biomass will also gain a large share of the market. To reach the indicative EU targets for RES-E production in 2010 a TGC price of 5.6 eurocents is necessary in addition to a physical power price of 2.2 eurocents. (au)

  17. Financial market development in the Central and Eastern European countries

    Czech Academy of Sciences Publication Activity Database

    Berglund, T.; Hanousek, Jan; Mramor, D.

    2006-01-01

    Roč. 7, č. 4 (2006), s. 280-282 ISSN 1566-0141. [ Financial market development in the Central and Eastern European countries. Prague, 26.05.2006-27.05.2006] Institutional research plan: CEZ:AV0Z70850503 Keywords : financial markets * Central and Eastern Europe Subject RIV: AH - Economics

  18. European Market Portfolio Diversification Strategies across the GFC

    NARCIS (Netherlands)

    D.E. Allen (David); M.J. McAleer (Michael); R.J. Powell (Robert); A.K. Singh (Abhay)

    2014-01-01

    markdownabstract__Abstract__ is paper features an analysis of the effectiveness of a range of portfolio diversification strategies as applied to a set of daily arithmetically compounded returns on a set of ten market indices representing the major European markets for a nine year period from the

  19. Priority for import capacity. The fear of the European Union for a free European energy market

    International Nuclear Information System (INIS)

    Roggen, M.

    2002-01-01

    Brussels (the seat of the European Union in Belgium) is worried about the performance of the liberalized European energy market. The natural gas and electricity networks are suffering from chronic congestion. Some areas are largely or even entirely cut off from the European energy infrastructure. Those problems must be addressed to realize the internal market. A package of reforms has been put forward by the European Commission the end of 2001 and 12 priority projects are identified and briefly discussed in this article [nl

  20. Dis-harmony in European natural gas market(s). Discussion of standards and definitions

    Energy Technology Data Exchange (ETDEWEB)

    Karasz, Michael [The Energy House GmbH, Muenchen (Germany); Pustisek, Andrej [Hochschule fuer Technik, Stuttgart (Germany); Drasdo, Peter

    2013-06-15

    The European Union attempts to harmonise the European natural gas market(s). In general, this is supported on national levels. Nevertheless, such harmonisation is not yet fully accomplished: neither for the rules nor for the quality specifications nor for the physical quantities and their units. Even if the current economic impact of such dis-harmony is negligible, i.e. that market participants for the time being do not have to bear additional costs caused by the lack of harmonisation, participants in the commodity market are exposed to contractual risks. Potentially, this might lead to reduced competition and reduced liquidity of each single and the European internal market for natural gas. However, as the costs for a potential harmonisation of European gas markets are estimated to be significant, the dilemma is evident and the 'political' solution of the 'harmonisation problem' will necessarily deviate from the traders' one. (orig.)

  1. Joint Efforts Towards European HF Radar Integration

    Science.gov (United States)

    Rubio, A.; Mader, J.; Griffa, A.; Mantovani, C.; Corgnati, L.; Novellino, A.; Schulz-Stellenfleth, J.; Quentin, C.; Wyatt, L.; Ruiz, M. I.; Lorente, P.; Hartnett, M.; Gorringe, P.

    2016-12-01

    During the past two years, significant steps have been made in Europe for achieving the needed accessibility to High Frequency Radar (HFR) data for a pan-European use. Since 2015, EuroGOOS Ocean Observing Task Teams (TT), such as HFR TT, are operational networks of observing platforms. The main goal is on the harmonization of systems requirements, systems design, data quality, improvement and proof of the readiness and standardization of HFR data access and tools. Particular attention is being paid by HFR TT to converge from different projects and programs toward those common objectives. First, JERICO-NEXT (Joint European Research Infrastructure network for Coastal Observatory - Novel European eXpertise for coastal observaTories, H2020 2015 Programme) will contribute on describing the status of the European network, on seeking harmonization through exchange of best practices and standardization, on developing and giving access to quality control procedures and new products, and finally on demonstrating the use of such technology in the general scientific strategy focused by the Coastal Observatory. Then, EMODnet (European Marine Observation and Data Network) Physics started to assemble HF radar metadata and data products within Europe in a uniform way. This long term program is providing a combined array of services and functionalities to users for obtaining free of charge data, meta-data and data products on the physical conditions of European sea basins and oceans. Additionally, the Copernicus Marine Environment Monitoring Service (CMEMS) delivers from 2015 a core information service to any user related to 4 areas of benefits: Maritime Safety, Coastal and Marine Environment, Marine Resources, and Weather, Seasonal Forecasting and Climate activities. INCREASE (Innovation and Networking for the integration of Coastal Radars into EuropeAn marine SErvices - CMEMS Service Evolution 2016) will set the necessary developments towards the integration of existing European

  2. Changing patterns of competition in European gas markets

    International Nuclear Information System (INIS)

    Heren, P.

    1996-01-01

    Despite a period of statism in the European natural gas market, the author argues that economic, political and regulatory pressures are approaching which will force dramatic change in the market, and identifies factors relating to pipeline capacity, competition, prices and market changes and fuel use which will drive the changes. A historical perspective is used as a framework to explain the inevitability of these changes. (UK)

  3. Reforming European electricity industries: to each, his own ''single market''

    International Nuclear Information System (INIS)

    Glachant, J.M.

    2000-01-01

    National transpositions of the European directive on domestic electricity markets have maintained a degree of diversity; and this also characterizes the other conditions for accessing national electricity markets (physical, commercial, industrial and capital access). As a look at the prices of electricity shows, these national markets do not operate in a single way Europe-wide. Furthermore, electricity companies - key actors in this competition - differ widely from each other in size, electrical potential, investment portfolios and strategies for growth. (authors)

  4. Product Market Integration, Comparative Advantages and Labour Market Performance

    DEFF Research Database (Denmark)

    Andersen, Torben M.; Rose Skaksen, Jan

    2003-01-01

    Product Market Integration, Comparative Advantages andLabour Market Performance@*In a two-country model with trade driven by comparative advantages, it is considered howimperfectly competitive labour markets are affected by lower frictions in international goodstrade. Easier goods trading...... is equivalent to increased mobility of employment acrosscountries and thus a change in the trade-off between wages and employment faced by wagesetters. While the effects of product market integration on the trade-off between wages andemployment in general is ambiguous, it is shown that product market...... integration works like ageneral improvement in productivity via the specialization it allows through trade.Unambiguously, real wages and employment and welfare improve upon reductions in tradefrictions, and therefore workers are better off irrespective of whether the market power ofunions is enhanced or muted...

  5. The European structural integrity research programme

    International Nuclear Information System (INIS)

    Townley, C.H.A.; Acker, D.; Laue, H.

    1990-01-01

    A thermal hydraulics evaluation of the European Fast Reactor (EFR) design followed by structural analysis is presented in this article to assess the structural integrity research programme to date. Improved design methods are being achieved as a result of the structural integrity programme for the EFR. Excellent collaboration between the nationally based research organizations and the design and construction companies has been important in achieving these improvements. (UK)

  6. Conceptions of "Nordic Democracy" and European Integration

    DEFF Research Database (Denmark)

    Jakobsen, Uffe

    Reluctance towards European integration in the Nordic countries is doubtlessly more connected to ideas on democracy than elsewhere. This goes not only for the (empirical) practicability of democracy but also for the (normative) desirability of democracy in the EU. After the Second World War, when...... and reborn after the Second World War as genuine democracy. However, a third narrative developed in which democracy was seen as having its roots in the Nordic countries dating back to the Viking Age or earlier. In the period from the 1940s to the 1980s, a number of Nordic anthologies contained articles...... the process of contemporary European integration was approaching, and the concept of democracy at the same time was heavily contested in public debates and among academics, two conceptions of democracy were struggling: On one hand, democracy was recognized as a European value developing in the form...

  7. The players on the European gas market - 2008 edition

    International Nuclear Information System (INIS)

    Lecarpentier, Armelle

    2008-02-01

    In a context of growing dependence on extra-European sources, a growth potential in gas use for power generation and the acceleration of the liberalization process, the 2008 Edition of 'The Players on the European Gas Market' offers a unique detailed review of the positioning of players in both the upstream (production, reserves) and downstream (wholesale and retail supply) sectors of the gas chain. This 140-pages report, includes 55 tables and 29 figures, and presents an in-depth description of the European gas industry by country. The Survey 'The Players on the European Gas Market' provides: - The analysis of new upstream areas and production growth prospects, - Company rankings in terms of reserve and production volumes, - The complete overview of the whole European gas market (market characteristics, supply sources, consuming outlets, effective competition), - Strategies and key facts of the wholesale suppliers to Europe, - An in-depth review of national market structures, - The detailed positioning and analysis of national market power of the numerous companies involved in gas supply

  8. Integrated marketing communications at solar energy equipment market

    OpenAIRE

    I.L. Litovchenko; I.A. Shkurupskaya

    2013-01-01

    The aim of the article. The article is devoted to the development of the concept of «integrated marketing communications», as well as its adaptation to a specific market of solar energy equipment. The theoretical development of foreign and domestic scholars in the field of IMC is considered. The aim of the article is to define the concept of «integrated marketing communications» and use them in the market of solar еnergy equipment in an information economy. The author's definition of the c...

  9. The beef market in the European Union

    DEFF Research Database (Denmark)

    Nielsen, Niels Asger

    small with the largest slaughtering company slaughtering only 3% of the total. 9. Relations between industry (slaughterhouses) and farmers tend to be much looser in the beef market than it is in other agricultural markets, eg the milk market. Cattle markets are still quite important although the share......'s share of total meat consumption 3. As a consequence of the consumers' demand for convenient shopping, butcher's share of total beef sales is rapidly decreasing in Europe. 4. Changes in meat consumption have traditionally been explained by relative price and per capita income, but these economic demand...... analyses can explain a rapidly decreasing share of the variation in beef consumption. 5. Studies show that beef consumption tends to increase with age; the heavy users are found among middle-aged men. Beef consumption also increases with income and social class. 6. The most important user-oriented quality...

  10. Roadmap towards a competitive European energy market

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2010-10-15

    With the financial crisis evolving into a severe, global economic recession, there have been growing doubts over whether energy markets can continue to operate efficiently under present conditions or whether the shift to non-market mechanisms would be a better choice. This question remains an ongoing source of debate in the recently liberalised electricity sector. Textbook wisdom says that the market is the most efficient place to allocate financial means for investments. Therefore, during a period of a crisis, it should follow that we actually need more market mechanisms, not fewer, if we want to stimulate investments in an economically efficient way. Regulated electricity prices and nationalistic thinking will not help to solve Europe's electricity challenges with regards to either the generation or the transportation of electricity.

  11. Russian natural gas policy and its possible effects on European gas markets

    International Nuclear Information System (INIS)

    Quast, O.; Locatelli, C.

    1997-01-01

    There is a growing perception among Western European gas experts that Russia has developed a considerable gas surplus - the Russian gas bubble. Thus, the question clearly arises how much gas is available for export and how much gas, over the next 15 to 20 years, can the Russian quasi-monopolist Gazprom market in Western Europe. We consider that Gazprom's export strategy mirrors the approach of Russia's natural gas policy towards the Western European market. In this paper, we will focus on the characteristics of Gazprom's export strategy, its underlying logic, and its impact on Western European gas markets. As a consequence of Gazprom's export strategy, the Russian gas company faces today a price quantity dilemma. Gazprom's problem is to place as much gas as possible in the growing Western European gas market, without destroying downstream gas prices. We argue that Gazprom has adopted a market share expansion and downstream vertical integration strategy, aimed at capturing a part of the downstream gas rent. Although this strategy appears to have initiated a form of gas to gas competition in a number of European consumer markets, this strategy is not based on an aggressive price policy. However, in order to live up to its ambitions, there is a chance that Gazprom will have to somewhat relax traditional contract clauses, such as contract length, indexation terms and take or pay conditions. (author)

  12. Opportunities for Pellet Trade - Towards a Single European Pellet Market

    International Nuclear Information System (INIS)

    Pigaht, Maurice; Janssen, Rainer; Rutz, Dominik; Boehm, Thorsten; Vasen, Norbert; Vegas, Laura; Karapanagiotis, Nicolas

    2006-01-01

    The potential for Pellets trade in Europe was researched and assessed. Such trade is of key importance for the development of a European pellet market of sufficient supply, demand, price and quality standards. Three target markets were taken as case studies for the trade assessment: Greece, Spain and Italy. All three markets stand to profit greatly from international trade. For these markets, pellet imports could supply the basis for the development of a domestic boiler market. At the same time, pellet exports would allow the planning of larger pellet production plants. Whilst these additional costs amount to some 10-20% of the Pellets price, they are financially acceptable, especially for new markets and 'peaks' in the demand/supply of established markets

  13. Integrating Ethics into the Marketing Curriculum.

    Science.gov (United States)

    Martin, James H.

    1990-01-01

    Describes how John Carroll University successfully integrated ethics into existing marketing courses. Provides a summary of the current literature on marketing ethics, discusses the educational goals that are met by integrating ethics into the curriculum, examines available curricular options, and details the design and implementation of a segment…

  14. A bargaining model of regulated markets' integration with an application to electricity supply market

    International Nuclear Information System (INIS)

    Wei Jingyuan; Smeers, Y.; Canon, E.

    1995-01-01

    An integrated market organized by regulated electric utilities is modelled. It is assumed that, given a price vector for the exchange of electricity between each pair of neighboring utilities, utilities independently maximize their own domestic social welfare subject to the zero profit constraint. An equilibrium price vector for exchanges among utilities is defined as the one which clears the exchanges for all pair of business partners. A single piecewise linear model is formulated for computing market equilibria. The model is used to simulate the electricity supply market organized by 11 western European countries

  15. The market microstructure of the European Climate Exchange

    OpenAIRE

    Mizrach, Bruce; Otsubo, Yoichi

    2011-01-01

    This paper analyzes the market microstructure of the European Climate Exchange, the largest EU ETS trading venue. The ECX captures 2/3 of the screen traded market in EUA and more than 90% in CER. 2009 Trading volumes total ?22 billion and are growing, with EUA transactions doubling, and CER volume up 61%. Spreads range from ?0:02 to ?0:06 for EUA and from ?0:07 to ?0:18 for CER. Market impact estimates imply that an average trade will move the EUA market by 1.08 euro centimes and the CER mark...

  16. Government intervention and market integration in Indonesian rice markets

    OpenAIRE

    Ismet, Mohammad; Barkley, Andrew P.; Llewelyn, Richard V.

    1998-01-01

    Long-run spatial price relationships in Indonesian rice markets and factors affecting the degree of market integration are evaluated using multivariate cointegration tests with weekly price data for the 1982-1993 period. The analysis includes evaluation of pre-self-sufficiency and post-self-sufficiency periods as well as for the entire period. The cointegration tests for entire Indonesian rice market, represented by the nine most relevant price series, indicate that relative to the pre-selfsu...

  17. Classifying Returns as Extreme: European Stock and Bond Markets

    DEFF Research Database (Denmark)

    Christiansen, Charlotte

    whereby a shorter sample period is needed. For the bond markets the simultaneous extreme return variable (used for analyzing integration and contagion of financial markets) is not statistically different for the two schemes. For the stock markets there are differences, but they are disappearing......I consider the stock and bond markets of 14 EU countries. I use two classification schemes for defining extreme returns: One, the existing univariate classification scheme which considers each market separately. Two, the new multivariate classification scheme that considers all the markets jointly...

  18. Integral marketing auditing: Basic features

    Directory of Open Access Journals (Sweden)

    Rakić Mira

    2006-01-01

    Full Text Available Instead of emphasize the "primacy of planning" in management process marketing control should be viewed as an activity that counterbalances marketing planning and strategy, and not as a "post hoc" adjunct to the planning function. Rather, it is a separate marketing function, which by continuously checking on the validity of plans, provides time and flexibility to an organization. Therefore, in this view, marketing planning and control are counterbalances processes which are performed simultaneously. The essence of feedback control is a measurement of the actual and desired states after action has been taken, and a subsequent correction of activities. In feedforward control the activities are corrected by predicting whether current activities would lead to desired states. The single most important reason why feedforward control is different from feedback control is that its use of information is prognostic. While feedback control tries to solve problems that have occurred, feedforward control tries to discover problems waiting to occur. It is also important to distinguish between financial non-financial and multiple control. Financial control of marketing activities involves control of sales revenue, profitability and return on marketing investment (ROMI. Non-financial control of marketing activities consists of control market share, customer satisfaction, customer loyalty, brand equity and customer equity. Key components of multiple control marketing activities are control of efficiency, effectiveness and marketing audit. Marketing performance measures have moved in three consistent directions over the years: from financial to non-financial output measures, from output to input measures and from undimensional to multidimensional measures.

  19. Labour Market Institutions and Labour Market Performance in the European Union

    OpenAIRE

    Michal, Tvrdon

    2008-01-01

    The presented article deals with labour market institutions and labour market performance in the European Union. The first chapter is devoted to theoretical and methodological background of labour market performance. Theoretical literature has created a set of institutional aspects such as employment protection legislation, structure of wage bargaining, taxation of labour, active labour market policy, the system of unemployment and social benefits. All these aspects determine the institutiona...

  20. Integrating gas and electric markets and regulation

    International Nuclear Information System (INIS)

    Whitmore, C.S.

    1998-01-01

    The issues determining what energy companies must do to compete in an increasingly competitive energy market and what regulators must do to ensure fairness in competition were discussed. The similarities of gas and electric markets, and the factors driving their integration were highlighted. The importance of communications and customer service in the energy market and the nature of market power in the gas and electric industries was described. Three reasons were given why gas/electric mergers will be beneficial: (1) operating efficiency, (2) applying gas experience to electric markets, and (3) opportunity to exercise market power. Potential regulatory problems were also reviewed

  1. Congestion management in the European electricity market; Engpassmanagement im Europaeischen Strommarkt

    Energy Technology Data Exchange (ETDEWEB)

    Dieckmann, Birgit

    2008-11-24

    The author of the contribution under consideration reports on an assessment of methods of congestion management employed in Europe with respect to their effectiveness and identify possible reasons for the misallocation of cross-border transmission capacity. For this, generation structures of European countries and the resulting prices and load flows are analysed. Different power plants and bottlenecks in the transmission network currently cause structural price differences due to a low degree of integration of European electricity markets. By means of congestion management, the formation of a uniform electricity market will be created.

  2. The Impact of Wind Power on European Natural Gas Markets

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2012-09-06

    Due to its clean burning properties, low investment costs and flexibility in production, natural gas is often put forward as the ideal partner fuel for wind power and other renewable sources of electricity generation with strongly variable output. This working paper examines three vital questions associated with this premise: 1) Is natural gas indeed the best partner fuel for wind power? 2) If so, to what extent will an increasing market share of wind power in European electricity generation affect demand for natural gas in the power sector? and 3) Considering the existing European natural gas markets, is natural gas capable of fulfilling this role of partner for renewable sources of electricity?.

  3. European health systems and the internal market: reshaping ideology?

    Science.gov (United States)

    da Costa Leite Borges, Danielle

    2011-12-01

    Departing from theories of distributive justice and their relation with the distribution of health care within society, especially egalitarianism and libertarianism, this paper aims at demonstrating that the approach taken by the European Court of Justice regarding the application of the Internal Market principles (or the market freedoms) to the field of health care services has introduced new values which are more concerned with a libertarian view of health care. Moreover, the paper also addresses the question of how these new values introduced by the Court may affect common principles of European health systems, such as equity and accessibility.

  4. The Scale and Geography of Collusion in the European Market

    DEFF Research Database (Denmark)

    Buch-Hansen, Hubert; Levallois, Clement

    2015-01-01

    Europe has a long history of cartels, but the changes in the scale and geography of collusion in the European market from the post-war decades until the present have not been systematically investigated. Using network analysis methods and an original dataset based on decisions in EU cartel cases......, this paper maps the developments in detected collusion in the European market from 1958 to 2008 and tentatively explains these developments. It appears that collusive activities increased during the 1960s and after the mid-1980s and that a long decline in the scale of collusion began in the mid-1990s...

  5. Price jumps on European stock markets

    Czech Academy of Sciences Publication Activity Database

    Hanousek, Jan; Kočenda, Evžen; Novotný, Jan

    2014-01-01

    Roč. 14, č. 1 (2014), s. 10-22 ISSN 2214-8450 R&D Projects: GA ČR(CZ) GAP403/11/0020; GA ČR(CZ) GBP402/12/G097 Grant - others:UK(CZ) UNCE 204005/2012 Institutional support: PRVOUK-P23 Keywords : stock markets * price jump indicators * non-parametric testing Subject RIV: AH - Economics

  6. The nuclear industry and its European markets

    International Nuclear Information System (INIS)

    1998-01-01

    This study gives an overview of the worldwide nuclear energy demand and reviews the different markets which are classified as 'mature' (uranium extraction, enrichment, conversion and reactors building), 'developing' (reprocessing, MOX fuel fabrication, maintenance and services) and 'emerging' (waste treatment and dismantling). Then, the study analyzes the evolution of demand and the answers of companies and presents the strategies and performances of nuclear industry leaders. (J.S.)

  7. Efficiency of European emissions markets: Lessons and implications

    International Nuclear Information System (INIS)

    Krishnamurti, Chandrasekhar; Hoque, Ariful

    2011-01-01

    While prior studies have shown that emission rights and futures contracts on emission rights are efficiently priced, there are no studies on the efficiency of the options market. Therefore, this study fills the gap. We examine empirical evidence regarding the efficiency of the options market for emissions rights in Europe. We employ the put-call parity approach to test the efficiency of options on emission rights traded in the European market. This implies that firms can trade options on emission rights in addition to other existing strategies in order to manage their greenhouse gas emissions. - Highlights: → Efficiency of the European options market for emissions. → Design implications for the development of emissions trading schemes in other countries. → Governance issues pertaining to emissions trading.

  8. ASPECTS REGARDING THE ORGANIC FOOD MARKET IN SEVERAL EUROPEAN COUNTRIES

    Directory of Open Access Journals (Sweden)

    MANUELA-DORA ORBOI

    2008-05-01

    Full Text Available The global organic market is increasing constantly, organic sales reaching over USD 5 billion per year. Organic Monitor estimates that international sales amounted to about USD 38.6 billion in 2006, more than the double of USD 18 billion in 2000. The organic demand is concentrated in North America and Europe, these two regions comprising 97% of the global revenues. The European organic food and beverage market is the largest and most complex in the world, evaluated at USD 20 billion in 2006. Many European countries offer grants to organic farms to support organic production. This production-oriented strategy will have guaranteed success if the market structures and the marketing channels will be able to face the rapidly increasing demand and if the sellers adapt their products, sales channels and prices to the consumers’ demand.

  9. Market liberalization in the European Natural Gas Market. The importance of capacity constraints and efficiency differences

    Energy Technology Data Exchange (ETDEWEB)

    Brakman, S. [University of Groningen, Faculty of Economics, Department of International Economics and Business, P.O. Box 800, 9700 AV Groningen (Netherlands); Van Marrewijk, C.; Van Witteloostuijn, A. [Utrecht University, Utrecht School of Economics, Janskerkhof 12, 3512 BL Utrecht (Netherlands)

    2009-06-15

    In the European Union, energy markets are increasingly being liberalized. A case in point is the European natural gas industry. The general expectation is that more competition will lead to lower prices and higher volumes, and hence higher welfare. This paper indicates that this might not happen for at least two reasons. First, energy markets, including the market for natural gas, are characterized by imperfect competition and increasing costs to develop new energy sources. As a result, new entrants in the market are less efficient than incumbent firms. Second, energy markets, again including the market for natural gas, are associated with capacity constraints. Prices are determined in residual markets where the least efficient firms are active. This is likely to lead to price increases, rather than decreases.

  10. A complementarity model for the European natural gas market

    International Nuclear Information System (INIS)

    Egging, Ruud; Gabriel, Steven A.; Holz, Franziska; Zhuang, Jifang

    2008-01-01

    In this paper, we present a detailed and comprehensive complementarity model for computing market equilibrium values in the European natural gas system. Market players include producers and their marketing arms which we call 'traders', pipeline and storage operators, marketers, LNG liquefiers, regasifiers, tankers, and three end-use consumption sectors. The economic behavior of producers, traders, pipeline and storage operators, liquefiers and regasifiers is modeled via optimization problems whose Karush-Kuhn-Tucker (KKT) optimality conditions in combination with market-clearing conditions form the complementarity system. The LNG tankers, marketers and consumption sectors are modeled implicitly via appropriate cost functions, aggregate demand curves, and ex post calculations, respectively. The model is run on several case studies that highlight its capabilities, including a simulation of a disruption of Russian supplies via Ukraine

  11. Product Market Integration, Comparative Advantages and Labour Market Performance

    DEFF Research Database (Denmark)

    Andersen, Torben M.; Rose Skaksen, Jan

    2004-01-01

    of the specialization gains are similar to anincrease in labour productivity, whereas the labour market reform effectis similar to an increase in the degree of competition in the labourmarket. Wages, employment and welfare increase as a result of furtherproduct market integration. It is interesting to note......In this paper, we set up a two-country general equilibrium modelwhere trade unions have wage bargaining power. We show that adecrease in trade distortions inducing further product market integrationgives rise to specialization gains as well as a labour market reformeffect. The implications...... that the labourmarket reform effect of product market integration is achieved despitean increase in the wage level.JEL Classification: F15, J30, J50.Keywords: Trade frictions, wage formation, employment, welfaregains....

  12. Capturing Talent: Generation Y and European Labor Markets

    OpenAIRE

    GAYLE ALLARD; Cristina Simón; RAQUEL MARTIN

    2007-01-01

    This study explores the challenge of capturing talent from both the political and the management level in Western Europe. It begins by identifying the special characteristics of Generation Y: those born since 1980 and recently joining national labor forces. It then evaluates the rigidity of labor markets in the European countries, dividing them into most and least regulated and exploring some of the labor-market characteristics that accompany those extremes. Finally, it identifies the employm...

  13. The strategy of players on the European gas market

    International Nuclear Information System (INIS)

    Lecarpentier, A.

    2006-01-01

    One result of opening up the European gas market to competition has been to increase the number and diversity of the players involved, whether producers, suppliers or electric utilities. However, while the gas on offer is still controlled by a handful of market players given the increasing importance of state-owned companies from exporting countries outside Europe, the downstream gas sector continues to show a strong concentration of incumbent operators seeking a dominant position in the supply of gas. (author)

  14. Patterns and Regularities in the European Marketing Academic Community

    DEFF Research Database (Denmark)

    Krystallis Krontalis, Athanasios; Ormrod, Robert P.; Christensen, Katrine

    2011-01-01

    Recent years have seen a growing interest in the nature of scientific collaboration, as researchers have become interested in how knowledge is generated in research communities. The aim of the current paper is to provide insights into the structure of the European Marketing Academy (EMAC...... partners is socio-cultural and geographical) proximity rather than marketing sub-discipline, pointing towards a very systematic tendency for EMAC members to be organised around institutions in the same or culturally related countries....

  15. The strategy of players on the European gas market

    Energy Technology Data Exchange (ETDEWEB)

    Lecarpentier, A

    2006-07-01

    One result of opening up the European gas market to competition has been to increase the number and diversity of the players involved, whether producers, suppliers or electric utilities. However, while the gas on offer is still controlled by a handful of market players given the increasing importance of state-owned companies from exporting countries outside Europe, the downstream gas sector continues to show a strong concentration of incumbent operators seeking a dominant position in the supply of gas. (author)

  16. European airlines enter the biofuels market. Business Project Report

    Energy Technology Data Exchange (ETDEWEB)

    Van den Heuvel, E.

    2011-06-15

    Biofuels might offer opportunities for achieving improved balance of power to the European airlines in their market environment. The aviation sector in Europe is a high competitive market. It faces high rivalry and increasing fuel costs due to rising oil prices. Moreover, from 2012 the sector will be subject to stringent rules with respect to maximum allowed carbon emissions. Investigating the competitive forces in the aviation sector and executing a strategic group analysis maps the competitors and the major players in the supply chain and the options they have for using alternative fuels for low carbon performance. Both the market and non-market strategies of several European airlines have been studied. It appears that airlines are aiming at first mover advantage by moving upstream in the biofuel value chain. They search for collaboration with other stakeholders to change government regulation to their benefit and influence public opinion and research agendas. Airlines are late entrants in the biofuels market. This research has shown that biofuels can improve the market power balance for European airlines. Biofuels are key to improve the carbon performance of airlines. However, this implies that airlines take position at the resource side of the value chain for biojetfuels. This has the advantage of controlling the security of supply and managing biofuels production complying to ruling sustainability criteria.

  17. European municipalities and the liberalized energy market

    International Nuclear Information System (INIS)

    2002-04-01

    Municipalities are directly affected by the liberalization of the energy markets. Because they all consume or even produce energy, whether it be for their own consumption or to resell it, they often distribute gas, electricity or heat, they plan urban areas and organize the energy networks on their territory, while in addition citizens expect municipalities to inform them and even protect them against the possible excesses of energy salesmen. Elected representatives administrations, local agencies, municipal companies, citizens' associations etc., all have to innovate. This supplement to Energie-Cites INFO is intended to provide you with practical information and further analyses of the liberalization process. (authors)

  18. Norway in a liberalized European energy market

    International Nuclear Information System (INIS)

    Aune, Finn Roar; Golombek, Rolf; Rosendahl, Knut Einar; Kittelsen, Sverre A.C.

    2000-01-01

    The authors study the short-term effects of a comprehensive liberalization of the gas and power markets in Europe. The analysis is based on a statically applied general equilibrium model which gives an overall and consistent treatment of the energy markets in Europe. The model preserves the structural features in the production, transport and consumption of gas and electricity in Europe, as well as the new competitive situation arising from the liberalization. It is found that the liberalization leads to a strong fall in the price of electricity. The fall in price reflects increased competition and that idle capacity in the power sector is used to increase the production of electricity. In comparison with the real observations in 1996 (the basis year of the model) the price to the end-user is cut in half. The liberalization also leads to a fall in the price of gas. The price fall reflects in part increased competition, in part the fact that falling prise of electricity reduces the demand for gas. However, the price reduction (in per cent) is not as great as for electricity. The model is also used to study the effects in Norway of increased gas production when the gas is either used in increased gas power production in Norway, or is exported. The main conclusion is that (1) the total emission of carbon dioxide goes down in Western Europe, (2) the reduction is greatest if the gas is burned as gas power in Norway

  19. Recent developments in European energy markets

    International Nuclear Information System (INIS)

    Schubert, E.

    1981-01-01

    The industrial development in Europe which has created a remarkable prosperity was originally based on the availability of indigenous energy. At a later stage Europe accepted the offer of low cost crude from the world market. Since a few years we have lost our influence to moderately adjust prises to the changing circumstances in the world market for primary energies since - the multinationally operating companies have lost their balancing power and - the direct dialogue between producing and consuming countries has so far not resulted in any success. The use of the flowery expression energy crisis pretends that we are suffering from a lack of available primary energy. But the actual situation is more to the contrary. At the privailing energy price level there is a manifold offer. Considerable efforts, however, are necessary to create the prerequisits for an utilization of the options among different primary energies. Infrastructures have to be changed requiring impulse on the part of the state. There is no reason to assume a limited availability of crude oil and petroleum products for the use in such sectors in which an early substitution would cause an excessive economic burden. Besides lignite only nuclear energy does offer for the time beeing a remarkable contribution for a reduction of the energy bill in Europe. Starting with the power plants of the first generation which are sufficiently tested and via the breeder technology nuclear power production will most probably approach the aime of the utilization of renewable energies at reasonable costs over the long term. (orig.) [de

  20. Market, Country and World Effects on Regional Equity Market Integration

    Directory of Open Access Journals (Sweden)

    Chee Wooi Hooy

    2014-08-01

    Full Text Available This study explores the fundamental driving forces of regional equity market integration in a trading bloc. The determinant factors are categorized into market attribute, economic fundamentals and world information. Our sample consists of 26 equity markets of ive regional trading blocs, namely AFTA, CER, EFTA, EU and NAFTA over the period of January 1999 to  August  2005.  We  measure  market  integration  based  on  pricing  errors  as  proposed  by Korajczyk (1996 and Levine and Zervos (1998. Using panel regressions, our results show that  equity  integration  in  these  trading  blocs  is  driven  internally,  where  only  individual-market  volatility  and  economic  fundamentals  play  a  signiicant  role  in  the  process.  Intra-bloc  trade  is  found  to  enhance  regional  equity  market  integration,  supporting  the  notion that  regional  convergence  extends  beyond  the  trade  sector  that  is  promoted  in  the  trade agreements.  We  also  document  regime  shifting  effects  during  stock  market  crises,  where most  of  these  markets  became  strongly  integrated  after  a  regional  crisis,  but  integration was signiicantly weakened during a crisis that affected the world markets. Also, the level of equity market integration differs across trading blocs, where the blocs with a smaller number of country members are relatively more integrated. ";} // -->activate javascript

  1. Risk-Return Trade-Off for European Stock Markets

    DEFF Research Database (Denmark)

    Aslanidis, Nektarios; Christiansen, Charlotte; Savva, Christos S.

    This paper adopts dynamic factor models with macro-finance predictors to revisit the intertemporal risk-return relation in five large European stock markets. We identify country specific, Euro area, and global factors to determine the conditional moments of returns considering the role of higher...

  2. Foreign news and spillovers in emerging European stock markets

    Czech Academy of Sciences Publication Activity Database

    Hanousek, Jan; Kočenda, E.

    2011-01-01

    Roč. 19, č. 1 (2011), s. 170-188 ISSN 0965-7576 R&D Projects: GA ČR(CZ) GAP403/11/0020; GA MŠk LC542 Institutional research plan: CEZ:MSM0021620846 Keywords : emerging European stock market s * foreign news * intraday data Subject RIV: AH - Economics Impact factor: 0.631, year: 2011

  3. Foreign news and spillovers in emerging European stock markets

    Czech Academy of Sciences Publication Activity Database

    Hanousek, J.; Kočenda, Evžen

    2011-01-01

    Roč. 19, č. 1 (2011), s. 170-188 ISSN 0965-7576 Institutional research plan: CEZ:AV0Z70850503 Keywords : emerging European stock market s * foreign news * intraday data Subject RIV: AH - Economics Impact factor: 0.631, year: 2011

  4. Labour Market Effects of Parental Leave: A European Perspective

    NARCIS (Netherlands)

    Akgündüz, Y.E.; Plantenga, J.

    2011-01-01

    We investigate the aggregate-level effects of parental leave legislation on various labour market outcomes of women in 16 European countries for the period since 1970. The paper updates and extends previous findings in the literature. Results show increases in participation rates that diminish with

  5. Gas transportation tariffs in the european union market

    International Nuclear Information System (INIS)

    Bianchi, A.

    2001-01-01

    In a liberalised market, it is an indubitable competitive advantage for a firm to accede at the gas grid with a low cost. The comparison among gas transportation tariffs of 18 European gas transportation companies for a big industrial consumer, shows that Italy is in the medium-high position of the ranking [it

  6. EUROPEAN INTEGRATION: A MULTILEVEL PROCESS THAT REQUIRES A MULTILEVEL STATISTICAL ANALYSIS

    Directory of Open Access Journals (Sweden)

    Roxana-Otilia-Sonia HRITCU

    2015-11-01

    Full Text Available A process of market regulation and a system of multi-level governance and several supranational, national and subnational levels of decision making, European integration subscribes to being a multilevel phenomenon. The individual characteristics of citizens, as well as the environment where the integration process takes place, are important. To understand the European integration and its consequences it is important to develop and test multi-level theories that consider individual-level characteristics, as well as the overall context where individuals act and express their characteristics. A central argument of this paper is that support for European integration is influenced by factors operating at different levels. We review and present theories and related research on the use of multilevel analysis in the European area. This paper draws insights on various aspects and consequences of the European integration to take stock of what we know about how and why to use multilevel modeling.

  7. Investing in European market real property through reits

    Science.gov (United States)

    Adamuscin, A.

    2010-03-01

    For institutional and private investors, investing in real estate represents an attractive form of the consignment of their money. Real estate provides a regular source of income in the form of the rent from or interest on the credit provided. At the same time, real estate is a good investment instrument, because it provides diversified contributions and security against inflation for investors. In their efforts to diversify risk, investors are expressing growing interest in investing in the whole European Union. The success of Real Estate Investment Trusts (REITs) in the U.S. also opened the door for investing in this market for small investors, which is the reason for the development of this type of investment company in the European arena. One problem concerning the development of European real estate investment funds is the unsolved issue of the harmonization of the legislation and regulatory safety measures, which would enable the creation of a common market for new investment products in Europe.

  8. Integração européia e políticas de saúde: repercussões do mercado interno europeu no acesso aos serviços de saúde European integration and health policies: repercussions of the internal European Market on access to health services

    Directory of Open Access Journals (Sweden)

    Luisa Guimarães

    2006-09-01

    Full Text Available Com base em revisão, o artigo explora repercussões nas políticas de saúde da integração regional entre países na União Européia. O objetivo é revisar a regulação do acesso em outro país, com a efetivação do mercado único e da livre circulação (de pessoas, produtos, serviços e capital. Inicia-se com revisão de modalidades de integração e descreve-se o alargamento e a institucionalização de organismos comunitários. As repercussões da integração européia nas políticas e na regulamentação do acesso à saúde foram analisadas. Impactos do mercado na saúde resultam de diretivas dos Tratados e de ajustes de políticas decorrentes da livre circulação. O acesso às ações assistenciais é regulamentado gradualmente e garantido por jurisprudências. Projetos nas fronteiras ilustram dinâmicas em que disparidades são utilizadas a favor do cuidado integral. Na mais antiga experiência de integração, a regulamentação do mercado gerou impactos intencionais e não intencionais nas políticas de saúde dos Estados-Membros, independentemente do modelo de organização. O conhecimento e a análise desta trajetória sinaliza desafios ao Mercosul e contribui para o debate e decisões futuras.This article explores the health policy repercussions of countries' regional integration into the European Union. The aim is to review the regulation of access in other countries, with the conclusion of the single European market and the free circulation of persons, services, goods, and capital. The article begins by reviewing the various forms of integration and describes the expansion and institutionalization of Community agencies. The repercussions of European integration on health policies and regulation of access are analyzed. Market impacts on health result from Treaty directives and internal policy adjustments to free circulation. Health services access is gradually regulated and granted by rulings. Projects along borders

  9. Defining European Wholesale Electricity Markets. An 'And/Or' Approach

    International Nuclear Information System (INIS)

    Dijkgraaf, E.; Janssen, M.C.W.

    2009-09-01

    An important question in the dynamic European wholesale markets for electricity is whether to define the geographical market at the level of an individual member state or more broadly. We show that if we currently take the traditional approach by considering for each member state whether there is one single other country that provides a substitute for domestic production, the market in each separate member state has still to be considered a separate market. However, if we allow for the possibility that at different moments in time there is another country that provides a substitute for domestic production, then the conclusion should be that certain member states do not constitute a separate geographical market. This is in particular true for Belgium, but also for The Netherlands, France, and to some extent also for Germany and Austria. We call this alternative approach the 'and/or' approach.

  10. The European Gas Market Looking for its Golden Age?

    International Nuclear Information System (INIS)

    Aoun, Marie-Claire; Cornot-Gandolphe, Sylvie

    2015-10-01

    The EU gas policy has to deal with a new landscape on the supply and demand sides. This study examines five major recent evolutions of the EU gas market: the relations with Russia, LNG coming back to Europe, the decrease of Groningen production, the contrasted evolutions of shale gas and the perspectives of EU natural gas demand. The European energy market has to face numerous challenges to achieve a successful energy transition, preserve its competitiveness and ensure its security of supply. While the EU Communication on Energy Union published in February 2015 has today given new impetus to Europe's gas policy, this policy has to deal with a new environment both in terms of supply and demand. On the supply side, the new strategy must henceforth deal with complex relations with Russia. Tensions between Russia and Ukraine along with economic sanctions against Russia have led Gazprom - the EU's leading supplier - to review its strategy towards Europe. While the 'Power of Siberia' project is already underway, Russia's own pivot towards Asia as announced by Vladimir Putin is turning out to be more difficult than expected: China and Russia have still not been able to find an agreement on the Western route. For some time, Gazprom seemed to want to cut its involvement in European gas assets significantly, due to problems with market liberalization rules. Today, Moscow is sending mixed messages to Europe, first by announcing the Turkish Stream project to deliver gas to Europe's gates, and then by extending the Nord Stream pipeline. The renewed interest in the EU market by Gazprom is indicative of the importance of this market, which provides the Russian company with the bulk of its gas revenues. Europe also has to deal with faster than expected declines in its own output. The Groningen field in the Netherlands, the EU's main gas producer, has suffered major restrictions since January 2014, due to significant earthquake risks. The Dutch government has to ensure the safety

  11. Integrating Strategic Marketing on an Institutional Level.

    Science.gov (United States)

    Liu, Sandra S.

    1998-01-01

    Higher education differs from other service enterprises in its social responsibility and the context for decision making. An integrated marketing strategy based on the identified positioning of the institution plays a crucial role in successful enrollment and long-term institutional development. Marketing can make a significant contribution to…

  12. Merging Advertising and PR: Integrated Marketing Communications.

    Science.gov (United States)

    Rose, Patricia B.; Miller, Debra A.

    1994-01-01

    Identifies and compares the perceived educational needs of advertising and public relations practitioners. Explores differences between practitioners in small versus large markets, and assesses practitioners' beliefs about integrated marketing communications (the merger of advertising and public relations under a single organizational unit). (SR)

  13. Integrating Sustainability Education into International Marketing Curricula

    Science.gov (United States)

    Perera, Chamila Roshani; Hewege, Chandana Rathnasiri

    2016-01-01

    Purpose: The purpose of this study is to extend the current knowledge of curriculum developments in international business and marketing curricula. Integrating sustainability into business and marketing curricula of the universities are widely debated in previous literature. Sustainability is a global phenomenon; however, curriculum development…

  14. International market integration for natural gas? A cointegration analysis of prices in Europe, North America and Japan

    International Nuclear Information System (INIS)

    Siliverstovs, Boriss; L'Hegaret, Guillaume; Neumann, Anne; Hirschlausen, Christian von

    2005-01-01

    This paper investigates the degree of integration of natural gas markets in Europe, North America and Japan in the time period between the early 1990s and 2004. The relationship between international gas market prices and their relation to the oil price are explored through principal components analysis and Johansen likelihood-based cointegration procedure. Both of them show a high level of natural gas market integration within Europe, between the European and Japanese markets as well as within the North American market. At the same time the obtained results suggest that the European (respectively, Japanese) and the North American markets were not integrated. (Author)

  15. Market Integration, Choice of Technology and Welfare

    DEFF Research Database (Denmark)

    Hansen, Jørgen Drud; Nielsen, Jørgen Ulff-Møller

    2010-01-01

    technologies. Market integration may induce a technological restructuring where firms either diversify their technologies or switch to a homogeneous technology. In general, market integration improves welfare. However, a small decrease of trade costs which induces a switch from heterogeneous technologies...... to a homogeneous technology may locally reduce global welfare. The model also shows that productivity differences lead to intra-industry firm heterogeneity in size and exports similar to the "new-new" trade models with monopolistic competition....

  16. SUSTAINABILITY OF SUSTAINABLE PALM OIL: A MARKET INTEGRATION ANALYSIS

    Directory of Open Access Journals (Sweden)

    Diana Chalil

    2016-07-01

    Full Text Available Crude Palm Oil (CPO is the biggest consumed vegetable oil in the world. The increase in CPO production raises concern on the environmental impact even outside the producing countries. As a response to this matter, the EU has made a requirement to only import certified CPO (CSPO. India and China, the two biggest importers in the world, are less restrictive to the environmental issues, and their demands are more influenced by CPO price levels. These countries are the main export markets for Indonesia and Malaysia, the two biggest CPO exporters in the world. This research using monthly price data from the Netherlands, Germany, Italy, EU28, India, China, Indonesia and Malaysia. Market integrations are tested with Cointegration Test, Vector Error Correction Model and Seemingly Unrelated Regression. The results show that these markets are integrated, but European countries are unlikely to lead the price movement. Therefore, the concern on sustainable certification from the European countries still slowly spreads to other main importers, resulting in low absorption of CSPO. Keywords: market integration; sustainable palm oil; seemingly unrelated regression; vector Error correction model

  17. Relevant Market in Commercial Aviation of the European Union

    Directory of Open Access Journals (Sweden)

    Jakub Kociubiński

    2011-06-01

    Full Text Available The purpose of this paper is to provide a brief overview of the issue of definition of relevant market in civil aviation within the European Union. The liberalization of the market since the early 1990s has led to a rapid increase in the number of airlines operating in the EU. The increase in the competitiveness of the market has brought many positive changes for passengers, such as lower fares and a better network of connections. At the same time it has created a risk that the airlines, in order to gain a competitive edge, would infringe the rules of competition. This is especially important in the context of the phenomenon that is the development of the airline alliances, which could lead to an abuse of a dominant position. A clear definition of the relevant market is a first step in an assessment of whether such an abuse occurred. This paper focus on the elements that Internal Market regulator, the European Commission, takes into consideration when defining relevant market in the airline industry.

  18. Integration of the Romanian Industry into the European One

    Directory of Open Access Journals (Sweden)

    Codruţa Ligia Butucescu

    2007-10-01

    Full Text Available Romania’s integration into the European Union is an extremely complex process which has effects upon all sectors of the RomanianEconomy. Among the main principles that are at the basis of the development of economy and the reform in the present stage, the most importantposition is held by the restructuring and modernization of the Romanian industry, its reorganization and privatization with a view to ensuring adurable economic progress. The industrial policy of Romania has in view to create a framework which can ensure the development of a competitiveindustry, in accordance with the industrial structures of the European Union, which will lead to the reduction of the gap between Romania and theother countries of the European Union. The industry, as an important branch of the Romanian Economy, produces approximately 27% of the nationalraw produce and contributes by 1, 2-1,5 rate to its growth annually. The Government of Romania has approved of the document of the IndustrialPolicy of Romania between 2005 and 2008, stating that it is essential for the three basic parts of the durable development: the economic, social andenvironmental one, to be interconnected and to progress harmoniously. The main goals of the industrial policy of Romania are: the growth ofcompetition, the growth of the role of research, development and innovation, the promotion of a durable management of the resources and protectionof environment; the improvement of the professional training and occupation of labour. The post-integration strategy in the industrial sector will havein view, among others, the ending of the process of privatization of the commercial companies of the industry, the presentation of the remainingindustrial companies of the public property on the market, the promotion of the strategical cooperation of the holding type structures and of theeconomic groups with a view to connecting the Romanian industry to the process of globalization, the growth of the

  19. European Union gas market liberalization: a windfall effect for Russia?

    International Nuclear Information System (INIS)

    Riviere, Nicolas

    2013-01-01

    Natural gas has a growing importance in the European Union energy. However, because of the lack of resources in its territory, the EU is highly dependent on imports to meet its gas needs. In parallel, since 1998 the EU seeks the creation of a single and liberalized natural gas market. The aim of this thesis is to investigate whether the gas market liberalization can create a risk for importers' bargaining power and more widely to the gas security of supply of the EU. The first chapter provides an overview of the European gas market. It deals with the implementation of the process of gas market liberalization, the external dependency of the EU and the weakness of gas supply diversity. Using findings from the previous chapter, the second one proposes a model from the cooperative game theory to analyze the effects of the EU natural gas market liberalization on importers' bargaining power. It shows that the liberalization weakens importers' bargaining power vis-a-vis external suppliers, where Russia is the leader. It also shows that the implementation of a European gas purchasing agency offers a counter-power to the EU that balances bargaining power. The third chapter focuses on the development of LNG in the world and more specifically in the EU market. The development of LNG in Europe allows the entry of new operators on the upstream and, thus, increases competition among the EU's suppliers for the benefit of importers' bargaining power. The last chapter analyzes the impact of US shale gas development on the EU gas market. Thus, it shows that development is accompanied by an uncertainty about the future gas demand in the EU and by a reconsideration of the EU's long-term contracts. (author)

  20. Extreme negative coexceedances in South Eastern European stock markets

    DEFF Research Database (Denmark)

    Tevdovski, Dragan

    The aim of this paper is to analyze the financial integration of the South Eastern Europe (SEE) stock markets. We use a multinomial logistic regression to analyze how persistence, asset class and volatility effects are related with negative coexceedances in SEE markets. We find evidence in favor...... of the continuation hypothesis in SEE stock markets. However, the factors associated with the coexceedances differ between the EU member countries from SEE and EU accession countries from SEE stock markets.The EU member countries are more dependent from the signals from major EU economies, while the accession...

  1. Product market integration, rents and wage inequality

    DEFF Research Database (Denmark)

    Andersen, Torben M.; Sørensen, Allan

    "protection" and "specialization" rents. In particular, wage inequality among similar workers (residual wage inequality) may be U-shaped, at first decreasing and then increasing in the process of product market integration. Consequently, there may be gains in both the efficiency and the equity dimension until......Globalization in the form of product market integration affects labour markets and produces winners and losers. While there are aggregate gains, it is in general ambiguous how inequality is affected. We explore this issue in a Ricardian model and show that it depends on the balance between...

  2. Multiple Hub Network Choice in the Liberalized European Market

    Science.gov (United States)

    Berechman, Joseph; deWit, Jaap

    1997-01-01

    A key question that so far has received relatively little attention in the germane literature is that of the changes at various airports as a result of the EU liberalization policies. That is, presently, most major European airports still benefit from the so-called home-carrier phenomenon where the country's publicly or semi-publicly owned carrier uses the country's main airport as its gateway hub and, consequently, the home-carrier is also the principal user of this airport (in terms of proportion of total aircraft movements, number of passengers transported, connections, slots ownership, etc.). The country's main airport has substantially benefited from these monopoly conditions of airline captivity, strongly determined by the bilateral system of international air transport regulation. Therefore, European major airports were used to operate in essentially different markets, compared to the increasingly competitive markets of their home based carriers. This partly explains relative stability of transport volumes and financial results of European major airports compared to the relatively volatile financial results of most European national airlines. However, the liberalization of European aviation is likely to change this situation. Market access is open now to all community carriers, i.e. carriers with majority ownership and effective control in the hands of EU citizens. Ticket prices are free, governments can only intervene in case of dumping or excessive pricing. A community airline can choose its seat in any of the 15 member states. Licensing procedures are harmonized between member states. In the last few months community carriers have had unrestricted route access within the EU. Most probably this development will be extended to countries inside and outside Europe. Last year the European Commission got the mandate to start negotiations with 10 other European countries. In the meantime the EC has also started negotiations with the USA on so-called soft rights

  3. DEBATE ON ROMANIA INTEGRATION IN EUROPEAN UNION

    Directory of Open Access Journals (Sweden)

    Roxana M. SÎRBU

    2014-04-01

    Full Text Available The purpose of this paper is to analyze the current state of Romanian integration into the European Union through the analysis of statistical data related to the absorption way of structural and cohesion funds available in 2007-2013 (absorption indicators and economic competitiveness indicators: Gross Domestic Product, employment rate, unemployment, population. In addition there are analyzed the structural and cohesion funds available for Romania in 2014-2020, for each category of available operational program and also the measures that must be implemented for Romania to adapt in a performance way to Europe 2020. The analysis results are considered as prerequisites for the development of an underlying model of investment decisions in the integrated sustainable development of Romania.

  4. INTEGRATION OF ROMANIAN INSURANCES MARKET IN EU

    Directory of Open Access Journals (Sweden)

    Gheorghe MOROŞAN

    2015-08-01

    Full Text Available One of the most important phenomena of the last decade has been the convergence of the financial services industry, especially the capital and insurance markets. The convergence in the insurance industry was determined by the increased frequency and the severity of catastrophic risks, market inefficiency in the past, and the new technologies in IT and communications. These globally developments can be observed much better at EU level, one of the most integrated areas of the world, which aimed the convergence of financial market, including an important component such as insurance market. As part of the EU, Romania also aims to financial market convergence with the EU countries. The article offers an overview and an analysis of the insurance market in the EU and Romania. Through a wide series of indicators such as: the amount of insurance premiums, degree of penetration, number of employees or number of insurance companies, it will analyze the evolution of this market convergence, as per all EU countries and Romania. It will identify the stage in which the insurance market in Romania is, regarding the requirements of full integration. Finally, there will be identified factors encouraging and particularly those who are impediments to insurance market convergence in Romania.

  5. Norwegian Natural Gas. Liberalization of the European Gas Market

    International Nuclear Information System (INIS)

    Austvik, Ole Gunnar

    2003-01-01

    Leading abstract. This book focuses on issues that are important for Norway as a major gas exporter and to the development of a liberalized European market. Chapter 2 explains main features of the European gas market. Natural gas is sold in regional markets with independent pricing structure and particularities. In Europe, this has led to large investments for the producers and long-term contracts. The strong market growth and EU's actions to liberalize the market may change this. The organization of the Norwegian gas production and sale is discussed, as well as the reorganization taking place in 2001. Pricing mechanisms are discussed in Chapter 3, both in the ''old'' / existing structure and how a liberalization of the market may change price formation. The increased importance of energy taxation in EU countries is covered in Chapter 4. Even though natural gas is the most environmentally friendly of the fossil fuels, the use of natural gas may be taxed far harder in the future. The report discusses price effects of such a development. Chapter 5 discusses whether or not a gas producer, like Norway, necessarily must earn a resource rent. With the use of economic theory for exhaustible resources it is shown how prices to consumers may increase at the same time as prices to producers drop, where the difference is made up by higher gas taxes to the consuming countries. Transportation of natural gas involves considerable scale advantages and there are often scope advantages from production, storage and sale, as well. Chapter 6 discusses how competition and regulation may influence the functioning and social efficiency of the market, and the concentration of market power. When companies become large, they may exploit market power, supported by the authorities of their respective countries. Chapter 7 focuses on regulatory challenges for the EU, and how the transporters may change between conflicting and cooperation with the EU. Chapter 8 focuses on schedules for

  6. The Microstructure of the European Sovereign Bond Market

    DEFF Research Database (Denmark)

    Pelizzon, Loriana; Subrahmanyam, Marti G.; Tomio, Davide

    We explore the interaction between credit risk and liquidity, during the Euro-zone crisis, in the Italian sovereign bond market, using a unique tick-by-tick dataset, from the period June 2011-December 2012. We document a strong, dynamic relationship between changes in sovereign credit risk...... and market liquidity, conditional on the credit default swap (CDS) spread: When the CDS is above 500 basis points (bp), market liquidity adjusts more rapidly and signicantly to changes in the credit risk. Other global systemic factors also aect market liquidity, while, surprisingly, the specic credit risk...... of primary dealers plays only a modest role, especially under conditions of stress. Further, the Long-Term Renancing Operations (LTRO) by the European Central Bank (ECB) on December 8, 2012, clearly attenuated the relationship between credit risk and liquidity....

  7. Meat export competitiveness of European Union countries on global markets

    Directory of Open Access Journals (Sweden)

    Štefan Bojnec

    2014-10-01

    Full Text Available The purpose of this research is to provide insight into the export competitiveness of meat products of the European Union (EU-27 member states on global markets. The revealed comparative advantage index is used to analyze the levels, compositions, and evolutions in patterns of development in the export competitiveness of meat products and their levels of stability at the product level. Except for some niche meat products, a larger number of the EU-27 member states have experienced comparative disadvantages on global markets over the analysed years of 2000 to 2011. The revealed comparative advantages on the global markets are the most robust for Ireland, Spain, the Netherlands, France, Belgium, Denmark, Poland, Cyprus and Hungary. The revealed comparative advantage indices and their survival rates differ across the meat product groups. The heterogeneity in export competitiveness of the EU-27 member states suggests the importance of the differentiation of meat products in competitive export specialization on global markets.

  8. Projected developments in the US and European LWR fabrication market

    International Nuclear Information System (INIS)

    Anderson, C.K.; Varley, G.

    1996-01-01

    There are several important factors influencing change in the fuel fabrication supply industry in Western Europe today. The most important is the changing supply relationships resulting from lower costs in the USA. With US fabrication prices substantially lower than in Western Europe, a situation which is sustainable based on production costs, a major force for change prevails which will have significant implications for the commercial development of both markets over the next decade. The extent to which supply from the USA will drive the Western Europe market will depend, to some extent, on three other factors: the new US-Euratom agreement on nuclear trade; electricity market deregulation in the European Union (EU); near term MOX fuel fabrication capacity. The main purpose of this paper is to discuss the current situation in the USA and Europe, and the manner in which this will lead to changing fuel fabrication supply dynamics in both markets. (author)

  9. Market opening: how will European gas supply evolve?

    International Nuclear Information System (INIS)

    Delon, Ch.

    1999-01-01

    With the implementation of the gas directive, European gas companies are facing many new challenges. Some concern the upstream gas sector in particular, notably with the new rules of competition in Europe, the changes in the structure of gas industries and their adaptation to the new Europe-wide market. For this first round table to the 116. gas conference, chaired by Sophie Mayeux, journalist and editor of the Est Eco journal, four representatives of major European companies and one representative of the banking sector examined the possible future scenarios for gas supply in Europe. (authors)

  10. Strategic marketing types: Evidence from the European meat processing industry

    DEFF Research Database (Denmark)

    Strandskov, Jesper; Hundahl, Lone; Laursen, Christina

    performance might differ between firms pursuing any strategy type has a strong academic and practical business interest. There is still a need to explore the basic question of whether generic types of mark strategies exist. Also there is a lack of empirical evidence which examines a wide range of strategic...... marketing strategies, (2) places these clusters in a strategic typology in order to better understand their position in the marketplace, and (3) analyses these strategic marketing types in terms of performance outcomes and differences in corporate attitudes and goals. 3. The meat processing sector in Europe....... Integrating previous definitions and findings on key strategy dimensions, three main marketing strategy components are used in the analysis: Strategic focus/objective marketing targeting and marketing positioning. The variables are split up in the following main groups: Marketing strategy variables, Corporate...

  11. European Schemes for Promoting Renewables in Liberalised Markets

    DEFF Research Database (Denmark)

    Meyer, Niels I.

    2003-01-01

    The paper describes possibilities and problems for penetration of supply systems based on renewable energy sources in liberalised markets. The analysis is based on recent development in EU with different models for support of installations based on renewable energy. These include feed-in models...... with guaranteed minimum tariffs, tender models for different bands of technologies, and green certificates trading models with obligatory consumer quota. The paper describes the market situation in selected European countries, including Germany, the UK, Holland and Denmark.An EU directive from September 2001 has...

  12. A game theoretic model of the Northwestern European electricity market-market power and the environment

    International Nuclear Information System (INIS)

    Lise, Wietze; Linderhof, Vincent; Kuik, Onno; Kemfert, Claudia; Ostling, Robert; Heinzow, Thomas

    2006-01-01

    This paper develops a static computational game theoretic model. Illustrative results for the liberalising European electricity market are given to demonstrate the type of economic and environmental results that can be generated with the model. The model is empirically calibrated to eight Northwestern European countries, namely Belgium, Denmark, Finland, France, Germany, The Netherlands, Norway, and Sweden. Different market structures are compared, depending on the ability of firms to exercise market power, ranging from perfect competition without market power to strategic competition where large firms exercise market power. In addition, a market power reduction policy is studied where the near-monopolies in France and Belgium are demerged into smaller firms. To analyse environmental impacts, a fixed greenhouse gas emission reduction target is introduced under different market structures. The results indicate that the effects of liberalisation depend on the resulting market structure, but that a reduction in market power of large producers may be beneficial for both the consumer (i.e. lower prices) and the environment (i.e. lower greenhouse gas permit price and lower acidifying and smog emissions)

  13. Dynamics of Timber Market Integration in Sweden

    Directory of Open Access Journals (Sweden)

    Vishal Chandr Jaunky

    2015-12-01

    Full Text Available This paper addresses the performance of the timber markets (Scots pine, Pinus silvestris L. and Norway spruce, Picea abies (L. Karst. by evaluating the order of market integration in three Swedish regions (Central, Northern, and Southern. Quarterly data of delivery prices are employed over the period 1999Q1–2012Q4. Various unit root and cointegration tests have been computed. The results indicate that the variables are integrated of first order and co-integrated, especially after controlling for structural breaks. This supports the law-of-one-price hypothesis (LOP. However, the effects of structural shocks on forestry are arguably significant and these are controlled for while performing a vector error-correction mechanism (VECM-based Granger-causality test. Bi-directional causality between the Northern and central markets is uncovered in the short-run. In the long-run, a similar causal effect is detected between Northern and Southern markets while the central market emerges as the price leader. Further investigation is carried out using variance decompositions and impulse response functions and these approaches also tend to confirm the existence of a single market well, as price interdependence between markets.

  14. Shale gas. Opportunities and challenges for European energy markets

    Energy Technology Data Exchange (ETDEWEB)

    De Joode, J.; Plomp, A.J.; Ozdemir, O. [ECN Policy Studies, Petten (Netherlands)

    2013-02-15

    The outline of the presentation shows the following elements: Introduction (Shale gas revolution in US and the situation in the EU); What could be the impact of potential shale gas developments on the European gas market?; How may shale gas developments affect the role of gas in the transition of the power sector?; and Key messages. The key messages are (1) Prospects for European shale gas widely differ from US case (different reserve potential, different competition, different market dynamics); (2) Shale gas is unlikely to be a game changer in Europe; and (3) Impact of shale gas on energy transition in the medium and long term crucially depends on gas vs. coal prices and the 'penalty' on CO2 emissions.

  15. The European market of renewable energies; Le marche europeen des energies renouvelables

    Energy Technology Data Exchange (ETDEWEB)

    Anon.

    2011-09-15

    This market study on renewable energies presents: 1 - the different renewable energy industries for power generation: the field of renewable energies (hydropower, wind power, solar energy, geothermal energy and biomass power plants) and their common points, their characteristics, advantages and constraints; 2 - the political and regulatory context with its ambitious goals: main steps of worldwide negotiations, Europe and the management of CO{sub 2} emissions, stiffening of the environmental regulation, the energy/climate package and the efforts to be borne by the different member states; 3 - Economy of the sector and the necessary public support: investment and production costs by industry, wholesale prices and competitiveness of the different power generation means, government's incentives for projects profitability; 4 - dynamics of the European market of renewable energies: energy-mix and evolution of the renewable energies contribution in the world and in the European Union, key-figures by country and by industry (installed capacity, production, turnover, employment); 5 - medium-term development perspectives: 2020 prospect scenarios, evolution of the energy mix, perspectives of development for each industry; 6 - the strengths in presence in the domain of facilities: main manufacturers, market shares, innovations, vertical integration, external growth; 7 - the strengths in presence in the domain of power facilities operation: main European operators, position and ranking, installed capacities, projects portfolio; 8 - medium-term perspectives of reconfiguration: best-positioned operators in a developing market, future of European manufacturers with respect to Asian ones, inevitable concentration in the operation sector. (J.S.)

  16. Analysis and modelling of the fuels european market; Analyse et modelisation des prix des produits petroliers combustibles en europe

    Energy Technology Data Exchange (ETDEWEB)

    Simon, V

    1999-04-01

    The research focus on the European fuel market prices referring to the Rotterdam and Genoa spot markets as well the German, Italian and French domestic markets. The thesis try to explain the impact of the London IPE future market on spot prices too. The mainstream research has demonstrated that co-integration seems to be the best theoretical approach to investigate the long run equilibrium relations. A particular attention will be devoted to the structural change in the econometric modelling on these equilibriums. A deep analysis of the main European petroleum products markets permit a better model specification concerning each of these markets. Further, we will test if any evidence of relations between spot and domestic prices could be confirmed. Finally, alternative scenarios will be depicted to forecast prices in the petroleum products markets. The objective is to observe the model reaction to changes crude oil prices. (author)

  17. Bank Insolvency Procedures and Market Discipline in European Banking

    OpenAIRE

    Angkinand, Apanard; Wihlborg, Clas

    2005-01-01

    Market discipline in banking requires that explicit and implicit insurance schemes for financial sector firms are limited, and that the lack of insurance of important stakeholders is credible. This credibility cannot be achieved without transparent, predictable procedures for distress resolution for banks, including explicit rules for the liquidation of insolvent banks. We find that very few European countries have explicit procedures for dealing with problem banks. The propositions tested in...

  18. Meat export competitiveness of European Union countries on global markets

    OpenAIRE

    Štefan Bojnec; Imre Fertő

    2014-01-01

    The purpose of this research is to provide insight into the export competitiveness of meat products of the European Union (EU-27) member states on global markets. The revealed comparative advantage index is used to analyze the levels, compositions, and evolutions in patterns of development in the export competitiveness of meat products and their levels of stability at the product level. Except for some niche meat products, a larger number of the EU-27 member states have experienced comparativ...

  19. Intraday price discovery in emerging European stock markets

    Czech Academy of Sciences Publication Activity Database

    Hanousek, Jan; Kočenda, Evžen

    -, č. 382 (2009), s. 1-35 ISSN 1211-3298 R&D Projects: GA ČR(CZ) GA402/08/1376; GA MŠk LC542 Institutional research plan: CEZ:MSM0021620846 Keywords : price discovery * stock markets * intra-day data * European Union * macroeconomic news Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp382.pdf

  20. Risk-Return Trade-Off for European Stock Markets

    OpenAIRE

    Aslanidis, Nektarios; Christiansen, Charlotte; Savva, Christos S.

    2015-01-01

    This paper adopts dynamic factor models with macro-finance predictors to revisit the intertemporal risk-return relation in five large European stock markets. We identify country specific, Euro area, and global factors to determine the conditional moments of returns considering the role of higher-order moments as additional measures of risk. The preferred combination of factors varies across countries. In the linear model, there is a strong but negative relation between conditional returns and...

  1. Implementing transparency in an Eastern European office market: preparing Warsaw for global investments

    Directory of Open Access Journals (Sweden)

    Nadine Bitterer

    2012-11-01

    Full Text Available In the aftermath of an increasing integration of property and financial markets, the real estate industry is subject to soaring internationalization processes. Since international institutional investors appeared, transnational real estate investments have increased tremendously. In recent years, Central and Eastern European countries have been becoming more attractive to institutional investors and are therefore being integrated into international market structures. Within these countries, Warsaw emerged as the most dynamic and important real estate market. But what are the mechanisms and practices through which the real estate market of Warsaw becomes international? Which networks, intermediaries and frames are necessary to constitute a mature real estate market? The article argues that international real estate consultants are playing a crucial role in the underlying internationalization process. They are acting at the interface between investors, developers, construction companies and tenants and are therefore becoming a crucial hinge between real estate actors. With the example of the Warsaw real estate market we argue that international real estate consultancies are key drivers of the transformation process from a local to a global market. They transfer global knowledge, competence and practices and implement transparent and professional structures in the emerging Warsaw real estate market.

  2. Natural gas market - Market opening in Switzerland and a selection of European Union countries

    International Nuclear Information System (INIS)

    Wild, J.; Vaterlaus, S.; Worm, H.; Spielmann, Ch.; Finger, M.

    2007-02-01

    This comprehensive report for the Swiss Federal Office of Energy (SFOE) takes a look at the situation in Switzerland and Europe as far as the liberalisation of the natural gas market is concerned. Comparisons are made between the situation for natural gas and electricity markets. The report discusses the economical and technical characteristics of the gas business such as gas sources, transport, storage and trading as well as the associated investment risks. The gas and electricity supply systems are compared from the supply and demand viewpoints and as far as trading and the increasing of efficiency are concerned. The Swiss gas market is compared with those of selected European countries. Market structures and regulatory aspects are examined and the resulting effects on the market and gas prices are reviewed. The effects of market opening are discussed from both the supplier and consumer points of view

  3. Price transmission and market integration: a test of the central ...

    African Journals Online (AJOL)

    Price transmission and market integration: a test of the central market ... cassava production but to improvements in marketing efficiency of the traditional food market ... Improvements in road network and other communication infrastructure will ...

  4. Renewable energy and energy efficiency in liberalized European electricity markets

    International Nuclear Information System (INIS)

    Wohlgemuth, Norbert

    2000-01-01

    Given the projected growth in global energy demand, renewable energy (RE) and energy efficiency (EE) play a crucial role in the attainment of the environmental dimension of sustainable development. Policy mechanisms to promote RE and EE have been justified on the rationale of market failure, which prevents price signals alone from being sufficient to induce consumers to implement the socially optimal level. The paper shows driving forces for increasing competition in the electricity supply industry and discusses the implication of electricity industry liberalisation on RE/EE activities. Policies of the European Commission to promote RE/EE are presented, including a more detailed description of the experience made in the United Kingdom. Conclusions are that the new market structure may be too short sighted to stimulate RE and EE activities and that the design of policies should be compatible with the new market-orientated structure of the electricity industry. If implemented properly, and compatible with the competitive market organisation, electricity supply liberalisation could pave the way for 'sustainable electricity' in the European Union. (Author)

  5. East Asian Capital Markets: Integration and Convergence

    Directory of Open Access Journals (Sweden)

    Yana Valeryevna Dyomina

    2016-09-01

    Full Text Available The article examines the interdependence of East Asian stock and bond markets. Hierarchical cluster analysis of bond markets of ten regional countries shows that the most similar ones are the following: Indonesia, Malaysia, the Philippines and Singapore. In 2006-2009 Thailand also belonged with this group, however, since 2010 it is a separate cluster. The second cluster includes Hong Kong, the Republic of Korea and China, the third one - Japan, the fourth one - Vietnam. As for regional equity markets, the study shows that regional stock indices respond to the dynamics of American ones to a greater extent than to the dynamics of each other. In addition, Asian indices’ interconnection is chiefly negative. To assess stock indices’ convergence the author employs cluster analysis which divides 16 studied stock exchanges in 7 different groups. According to the obtained results, the author concludes that integration of regional capital markets is the long-term goal. Besides, markets’ integration will be easier and faster within clusters; inter-cluster mergers will be the next step. The basic problem here arises from the Japanese market, which, in the case of forced or ill-conceived program of events, will absorb all other markets or end up outside the integration processes

  6. What will become of the european nuclear power plant market

    International Nuclear Information System (INIS)

    Goulden, O.A.

    1976-01-01

    In a forecast of the development of the future market for power plants and components in Europe a British consultant comes to the conclusion that the nuclear power programs established in various countries in 1974 are oversized in the light of the reduction in the increment of electricity consumption, which is expected to continue, if they are implemented in addition to existing and planned conventional thermal power stations, and that these programs are too costly if they are intended more or less only to substitute for other sources of energy. A streamlining process, which is deemed to be inescapable, is bound to result in a major cutback of the nuclear power station market in Europe and in a hard fight for survival among the power plant manufacturers now in the market. In the author's opinion, the only way out would be a uniform European electricity generation, transmission and distribution system with all the rationalization effects this would entail. (orig.) [de

  7. 2nd European Conference on Green Power Marketing 2002

    International Nuclear Information System (INIS)

    2002-01-01

    This report summarises the information presented at the European Conference on Green Power Marketing held in 2002 in St. Moritz, Switzerland. It takes a look at the market chances of ecologically produced electricity for use in Switzerland and for export. The opinions of experts from the areas of research, business, politics, marketing and non-governmental organisations that were presented at the meeting are summarised. International perspectives and trends are discussed and strategies and management issues are examined. Product and price policies are discussed, as are instruments for the communication of 'Green Power' issues. Also, issues concerning customer needs, renewable energy sources, climate change and sustainability are dealt with and the situation in Australia is looked at

  8. Big Data and Insurance: Advantageous Selection in European Markets

    Directory of Open Access Journals (Sweden)

    Francesco Corea

    2017-06-01

    Full Text Available Rothschild and Stiglitz (1976 argued that people signal their risk profile through their insurance demand, i.e. individuals with a high risk profile would buy insurance as much as they can, while people who are not going to buy any insurance are the ones with a lower risk profile. This issue is commonly known as adverse selection. Even if their prediction seems to work quite well in a lot of different markets, Cutler et al. (2008 proved that there exist some insurance markets in United States in which the expected result is completely different. In the wake of this study, we provide empirical evidences that there are some European insurance markets in which the low risk profile agents are the ones who buy more insurance.

  9. European Europart integrated project on actinide partitioning

    International Nuclear Information System (INIS)

    Madic, C.; Hudson, M.J.

    2005-01-01

    This poster presents the objectives of EUROPART, a scientific integrated project between 24 European partners, mostly funded by the European Community within the FP6. EUROPART aims at developing chemical partitioning processes for the so-called minor actinides (MA) contained in nuclear wastes, i.e. from Am to Cf. In the case of dedicated spent fuels or targets, the actinides to be separated also include U, Pu and Np. The techniques considered for the separation of these radionuclides belong to the fields of hydrometallurgy and pyrometallurgy, as in the previous FP5 programs named PARTNEW and PYROREP. The two main axes of research within EUROPART will be: The partitioning of MA (from Am to Cf) from high burn-up UO x fuels and multi-recycled MOx fuels; the partitioning of the whole actinide family for recycling, as an option for advanced dedicated fuel cycles (and in connection with the studies to be performed in the EUROTRANS integrated project). In hydrometallurgy, the research is organised into five Work Packages (WP). Four WP are dedicated to the study of partitioning methods mainly based on the use of solvent extraction methods, one WP is dedicated to the development of actinide co-conversion methods for fuel or target preparation. The research in pyrometallurgy is organized into four WP, listed hereafter: development of actinide partitioning methods, study of the basic chemistry of trans-curium elements in molten salts, study of the conditioning of the wastes, some system studies. Moreover, a strong management team will be concerned not only with the technical and financial issues arising from EUROPART, but also with information, communication and benefits for Europe. Training and education of young researchers will also pertain to the project. EUROPART has also established collaboration with US DOE and Japanese CRIEPI. (authors)

  10. Effects of internalising external production costs in a North European power market

    International Nuclear Information System (INIS)

    Munksgaard, J.; Ramskov, J.

    2002-01-01

    The aim of integrating national power markets is to improve the overall efficiency thereby making a potential for reducing electricity prices. However, efficiency is not necessarily improved if external environmental protection costs are neglected. In this paper, we analyse the effects of regulating an integrated power market by using environmental producer taxes based on external production costs. The analysis is based on an empirical equilibrium model for the North European power market. The results show that internalising costs will increase electricity producer prices by 40-50% in the period from 1995 to 2020. Further, demand for electricity will be reduced by 10%. We conclude, however, that in order to achieve the national Kyoto targets of reducing CO 2 emissions, further regulation is needed, such as national CO 2 taxes or cost efficient mechanisms like tradeable permits and joint implementation. (author)

  11. Time-zero efficiency of European power derivatives markets

    International Nuclear Information System (INIS)

    Peña, Juan Ignacio; Rodriguez, Rosa

    2016-01-01

    We study time-zero efficiency of electricity derivatives markets. By time-zero efficiency is meant a sequence of prices of derivatives contracts having the same underlying asset but different times to maturity which implies that prices comply with a set of efficiency conditions that prevent profitable time-zero arbitrage opportunities. We investigate whether statistical tests, based on the law of one price, and trading rules, based on price differentials and no-arbitrage violations, are useful for assessing time-zero efficiency. We apply tests and trading rules to daily data of three European power markets: Germany, France and Spain. In the case of the German market, after considering liquidity availability and transaction costs, results are not inconsistent with time-zero efficiency. However, in the case of the French and Spanish markets, limitations in liquidity and representativeness are challenges that prevent definite conclusions. Liquidity in French and Spanish markets should improve by using pricing and marketing incentives. These incentives should attract more participants into the electricity derivatives exchanges and should encourage them to settle OTC trades in clearinghouses. Publication of statistics on prices, volumes and open interest per type of participant should be promoted. - Highlights: •We test time-zero efficiency of derivatives power markets in Germany, France and Spain. •Prices in Germany, considering liquidity and transaction costs, are time-zero efficient. •In France and Spain, limitations in liquidity and representativeness prevent conclusions. •Liquidity in France and Spain should improve by using pricing and marketing incentives. •Incentives attract participants to exchanges and encourage them to settle OTC trades in clearinghouses.

  12. European Sugar Market – Impact of Quota System

    Directory of Open Access Journals (Sweden)

    Irena Benešová

    2015-01-01

    Full Text Available The European agricultural market has been criticized for its heavy regulations and subsidization. The sugar market is one of the most regulated ones; however, this will change radically in 2017 when the current system of production quotas will end. The aim of this paper is to present the basic characteristics of the EU quota sugar market. The analysis identifies the main drivers of EU sugar market and their position within the EU sugar market. The paper identifies especially those drivers/companies/alliances which take control over the EU sugar production realized under the quota production system. The paper also highlights the level of EU sugar market concentration and also identifies those countries and companies which are the main leaders in the sugar production area realized under the quota system. Based on the results deriving from the paper, it is possible to characterize the EU sugar market as a heavily concentrated one – nearly 75% (10 mil. tonnes of the quota is controlled by five multinational companies only; these companies are operating more than 50% of all the available sugar plants located in the EU. These multinational alliances are also in control of the production capacities of their subsidiaries. In most countries, this causes serious problems as the given quota is controlled by one or two producers only. The EU sugar market is extremely concentrated especially if we take into consideration the location of each alliance’s headquarters. The majority of production capacities are under (the control of especially German and French companies. These two countries are also the main beneficiaries in relation to the EU sugar production quota system.

  13. A game theoretic model of the Northwestern European electricity market-market power and the environment

    NARCIS (Netherlands)

    Lise, W.; Linderhof, V.G.M.; Kuik, O.; Kemfert, C.; Ostling, R.; Heinzow, T.

    2006-01-01

    This paper develops a static computational game theoretic model. Illustrative results for the liberalising European electricity market are given to demonstrate the type of economic and environmental results that can be generated with the model. The model is empirically calibrated to eight

  14. Competition for transparency as a carrier of competition. Transparency needs in the European wholesale electricity markets

    International Nuclear Information System (INIS)

    Jong, Hanneke de; Hakvoort, Rudi

    2005-01-01

    This paper analyses different transparency aspects regarding European wholesale electricity markets and discusses transparency issues to be solved. In Europe, currently some progress has been made with respect to market transparency but transparency issues related to transmission, system operation and regulation have received little attention so far. Transmission system operators (TSOs) and regulatory authorities need certain market information in order to secure efficient competition. However, TSOs and regulatory authorities need to communicate themselves in order to facilitate competition and decrease uncertainty among market participants. Furthermore, considering ongoing market integration both TSOs and regulatory authorities must exchange information amongst themselves in order to facilitate coordination and monitoring activities. The effect of a higher level of transparency on effective competition is depended on two categories of transparency aspects: aspects that are related to transparency in the sense of open and adequate communication (perspicuity) and aspects that are related to the easiness to understand (clarity). Transparency includes both aspects. Pursuing overall harmonization of the European transparency level is important to fully profit from a higher level of (international) harmonization. Effective harmonization requires harmonization on all communication aspects. For Europe, with its many immature markets, the dilemma remains whether it is preferable to have less transparency with a high level of harmonization or to have a higher level of transparency but a lower level of harmonization. (Author)

  15. Migration and European integration of Serbia

    Directory of Open Access Journals (Sweden)

    Lutovac Zoran

    2016-01-01

    Full Text Available This paper focuses on migration in the context of European integration which implies, on the one hand, internal integration, integration within the EU and, on the other hand, the enlargement process related to the countries that have applied to join the EU. The aim is to determine in which way the migration, especially refugee crisis in 2015, had influence on the EU, as a supranational political community, and what was the impact on Serbia which is in the process of integration into the European Union. Migrant crisis has shown that the EU has to confront many different issues including several issues of great importance for its survival and strengthening: how to influence on global processes to a greater extent instead of dealing with the consequences of the global politics of others; how to preserve and keep the values that the EU itself is founded and the values on which should be built upon further construction of the political community and, finally, weather the EU can be transformed in the direction of the United European States, in both the functional and in terms of values, or the EU will move towards deepening of Europe of concentric circles. Faced with extremely complex migration situation, Serbia does not have the appropriate institutional and regulatory framework, nor a political response to a series of complex issues in the area of migration and migration-related issues, such as asylum system, irregular migration, sustainable return of our citizens asylum seekers in EU member states, implementation of the agreement on readmission, the departure of highly educated - brain drain, migration and development, the fight against human trafficking (protection of victims, prevention, criminal prosecution of traffickers, and smuggling of migrants, issues of border management, demarcation and boundary determination (as well as the agreement that should be concluded. Some of these problems migrant crisis has made visible by encouraging coping

  16. Market power in the European electricity market - The impacts of dry weather and additional transmission capacity

    International Nuclear Information System (INIS)

    Lise, Wietze; Hobbs, Benjamin F.; Hers, Sebastiaan

    2008-01-01

    This paper uses a static computational game theoretic model of a fully opened European electricity market and can take strategic interaction among electricity-producing firms into account. The model is run for a number of scenarios: first, in the baseline under perfect competition, the prices differ due to the presence of various generation technologies and a limited ability to exchange electricity among countries. In addition, when large firms exercise market power, the model runs indicate that prices are the highest in countries where the number of firms is low. Second, dry weather would increase the prices in the hydro-rich Nordic countries followed by the Alpine countries. The price response would be about 20% higher with market power. Third, more transmission capacity would lower the prices in countries with high prices and it also reduces the impact of market power. Hence, more transmission capacity can improve market competitiveness. (author)

  17. Market power in the European electricity market - The impacts of dry weather and additional transmission capacity

    Energy Technology Data Exchange (ETDEWEB)

    Lise, Wietze [IBS Research and Consultancy, Agahamami Cadessi 1/6, Aga Han, Cihangir, 34433 Beyoglu, Istanbul (Turkey); Energy Markets and International Environmental Policy Group, ECN Policy Studies, Energy Research Centre of the Netherlands, Amsterdam (Netherlands); Hobbs, Benjamin F. [Department of Geography and Environmental Engineering, Johns Hopkins University, Baltimore, MD 21218 (United States); Hers, Sebastiaan [Energy Markets and International Environmental Policy Group, ECN Policy Studies, Energy Research Centre of the Netherlands, Amsterdam (Netherlands)

    2008-04-15

    This paper uses a static computational game theoretic model of a fully opened European electricity market and can take strategic interaction among electricity-producing firms into account. The model is run for a number of scenarios: first, in the baseline under perfect competition, the prices differ due to the presence of various generation technologies and a limited ability to exchange electricity among countries. In addition, when large firms exercise market power, the model runs indicate that prices are the highest in countries where the number of firms is low. Second, dry weather would increase the prices in the hydro-rich Nordic countries followed by the Alpine countries. The price response would be about 20% higher with market power. Third, more transmission capacity would lower the prices in countries with high prices and it also reduces the impact of market power. Hence, more transmission capacity can improve market competitiveness. (author)

  18. HOUSING MARKETS IN SELECTED EUROPEAN COUNTRIES AND THE USA

    Directory of Open Access Journals (Sweden)

    Magdalena Gostkowska-Drzewicka

    2012-04-01

    Full Text Available The aim of this article is to present the changes taking place in housing markets in selected European countries and in the USA. The basic research period covers the years 1998-2009. However, wherever availability of data allowed so, we covered with our research also the years 1963-2010. The development of domestic housing markets is determined both by specific features of local markets and by macroeconomic factors influencing the economic situation. The availability of capital to finance investment is of primary importance for the changes taking place in housing markets. This factor can be expressed by the volume of mortgage debt related to GDP and inflation and the level of interest rates on mortgage loans. The evaluation of the changes occurring in domestic housing markets was based on the identification of such structural characteristics as: the volume of the housing stock, the number of ready-to-use flats, the number of issued building permits, the indices of housing prices, and the number of transactions concerning purchase of flats or houses.

  19. On Chaotic Nature of the Emerging European Forex Markets

    Directory of Open Access Journals (Sweden)

    Anoop S Kumar

    2014-06-01

    Full Text Available This study attempts to analyze the presence deterministic chaos in the forex markets of select European countries namely Bulgaria, Croatia, Czech Republic, Hungary Poland, Romania, Russia, Slovakia and Slovenia. Monthly NEER data ranging from jan-1994 to Dec-2013 is used for the purpose of analysis. A two step methodology is employed where in the first step, non-linear dependence structure in the underlying time series is verified using BDS test. The results show that all the markets under study exhibit non-linear dependence. In the next stage, it is enquired whether this non-linear behavior is due to the presence of chaotic dynamics in the markets. This is achieved by estimating Lyapunov exponents for the time series under analysis. An EGARCH (1, 1 filter is applied to see if the non-linearity could be explained by a GARCH process. From the Lyapunov exponent values, it is found that the GARCH process is unable to explain the forex markets behavior in a satisfying manner. It is concluded that the forex markets under study exhibit deterministic chaotic behavior.

  20. The competitiveness of Slovak foreign trade in the European market

    Directory of Open Access Journals (Sweden)

    Pavličková Viera

    2013-01-01

    Full Text Available The paper deals with the competitiveness of the Slovak Republic in its ability to succeed in foreign markets. It provides a complex view of Slovak foreign trade within the European Union using a sectoral classification of products. Several appropriate methods (Constant Market Share Analysis, Revealed Comparative Advantage, Michaely Index, and unit export and import values are applied to quantify the competitiveness of Slovak foreign trade and to identify the level and trend of its specialisation. The analysis uses the data provided by the Eurostat Comext database for the period 1999-2011. The results confirmed Slovakia as a former transition country to be a fast developing open economy. Its production is competitive in the European market, although mainly with prices. Labour- and capital-intensive commodities, along with the automotive industry, dominate Slovak foreign trade. Technology- and R&D-driven goods have a comparative disadvantage as a consequence of several factors, such as lack of innovation and creativity in the business sphere. A shift towards export of more sophisticated products would be beneficial in supporting long-term sustainable development; however, no significant change in Slovak commodity structure has occurred over the past years.

  1. Stumpage market integration in western national forests

    Science.gov (United States)

    Jean M. Daniels

    2011-01-01

    This study presents results of statistical tests for stumpage market integration on 62 national forests in the Western United States. Quarterly stumpage prices from 1984 to 2007 obtained from cut and sold reports for USDA Forest Service Regions 1, 4, 5, and 6 (Northern, Intermountain, Pacific Southwest, and Pacific Northwest, respectively) were analyzed to establish...

  2. Are Stock and Corporate Bond Markets Integrated?

    NARCIS (Netherlands)

    van Zundert, J.; Driessen, Joost

    2017-01-01

    This study explores the cross-sectional integration of stock and corporate bond markets by comparing a firm’s expected stock return, as implied by corporate bond spreads, to its realized stock return. We compute expected corporate bond returns by correcting credit spreads for expected losses due to

  3. Institutions in European and Asian energy markets: A methodological overview

    International Nuclear Information System (INIS)

    Aalto, Pami

    2014-01-01

    This article introduces a methodological framework to study institutions in European and Asian energy markets with a comparative case study on the EU and east Asia. A distinction is made between informal and three types of formal institutions; and their transaction cost reducing, order creating and ecological/climatic functions. The operation of energy markets is explained through the structure of institutions, their types and functions. It is found that order-creating institutions guarantee enough stability, (mutual) trust and solidarity among EU Member States to support the competitive markets institution and supranational formal institutions as the underpinnings of trade in the internal energy market, which nevertheless retains some corporatist features. In the east Asian markets the nature of order-creating institutions sovereignty, energy diplomacy and great power management prevents the emergence of supranational formal institutions and a shared idea of trade. The prevailing structure has a large number of sub-regional organisations with overlapping tasks and few powers. In both markets the functions of institutions signify more than their number; transaction cost reducing institutions are dependent on order-creating institutions, while both of these functions are better realised on the regional level than ecological/climatic functions; ultimately informal institutions are most influential. - Highlights: • Institutions include informal types and three formal types. • The functions of institutions relate to transaction costs, order and ecology. • Transaction cost reduction depends on order creating institutions. • Ecological functions are the most difficult to realise regionally. • Informal institutions are most influential in the EU and east Asian markets

  4. The relationship between the political authorities and the commercial actors in the European natural gas market

    International Nuclear Information System (INIS)

    Mjelde, Jarle Christian

    1998-01-01

    In summarizing the reasons for the fall of the Roman empire one has found about 210 significant ones. Without too much comparison the Roman empire and the EU natural gas market have similarities in connections between political authorities and the commercial actors in the European natural gas market. The area has consisted of several independent markets with different solutions that from 1988 has been tried integrated in an inner energy market. Several governmental and private actors have interest in this sector and both inhabitants and businesses are affected by alterations in a national natural gas market. This process is not yet finished. The thesis gives a broad description of the topic by including as many as possible of the EU member states. The topic is large and complex and the author has had to make a choice which parts to emphasize. There are chapters on the theoretical basis, the natural gas industry, what factors may explain the relationship between the political authorities and the commercial actors in the national natural gas market in each EU member and how does the EU Commission goals regarding free competition in the energy market affect the relationship between the political authorities and commercial actors in the national natural gas market

  5. The European Energy Regulators Group and the realization of the internal energy market

    International Nuclear Information System (INIS)

    Lavrijssen, S.A.C.M.

    2006-01-01

    The role of the European Energy Regulators Group (ERGEG) in the realization of the internal energy market is discussed. It is concluded that the ERGEG has already achieved significant results in dealing with several complex technical and legal problems that hamper market integration in the energy sector. However, it is a fundamental problem that the ERGEG is neither an EU institution nor a national institution, resulting in a lack of its democratic accountability and in the legal protection against the actions taken by the ERGEG. Therefore, the future success of the ERGEG will depend on the ability of the European legislator to find answers to the question how to ensure that the ERGEG fulfils its tasks in a legitimate way [nl

  6. Dossier for marketing authorization in the European union

    Directory of Open Access Journals (Sweden)

    Maida Todić

    2003-02-01

    Full Text Available Extensive and complete documentation must be presented for marketing authorization of a medicinal product in the EU. Presented documentation should prove quality, safety and efficacy of the medicinal product. It is ensured that the applicant supplies the authorities with complete information. The legislation in Federation of Bosnia and Herzegovina has also taken more steps towards those European directions.The presentation and content of the dossier in the European Union has been redefined. The “old” EU format will be replaced with the Common Technical Document (EU CTD format agreed in 2000, within the International Conference on Harmonization framework. These two formats are intended to coexist during the transition period until July 2003. The CTD is an internationally agreed upon format for the preparation of a well structured presentation for applications to be submitted to regulatory authorities in the three ICH regions of Europe, US and Japan.

  7. Ownership Concentration and Market Value of European Banks

    DEFF Research Database (Denmark)

    Busta, Ildura; Sinani, Evis; Thomsen, Steen

    2014-01-01

    This paper investigates the relationship between ownership concentration and market value of European banks, and the role of the institutional environment in shaping this relationship. Using GMM dynamic estimator on a sample of European banks over a 13-year period (1993–2005) we find on average...... concentration is positive in Scandinavia. We propose that, besides the legal protection of small investors, the differences in the impact of ownership concentration across the countries could be due to the identity of the predominant owners, i.e. financial institutions in Germany and trusts and foundations...... a negative effect of ownership concentration on bank value, measured by Tobin's Q. However, this effect varies across different institutional settings; while higher ownership concentration results in a lower bank value particularly in the countries belonging to German legal family, the impact of ownership...

  8. Polskie Gornictwo Naftowe i Gazownictwo in a liberalized european market

    International Nuclear Information System (INIS)

    Kaminski, P.

    2004-01-01

    Polskie Gornictwo Naftowe i Gaxownictwo (PGNiG) is the leading operator in the Polish natural gas market. Following Poland's membership of the European Union, the company must now face up to the new challenges of a liberalized gas market. The firm is currently changing its organisational methods in order to adapt its company structure to the requirements of gas directive No. 2003/55/CE. In conformity with the European recommendations, the transportation activities have been separated off from the company structure. Work is being carried out in order to separate the company PGNiG Przesyl which is the operator of the transport system. Preparatory measures are underway in order to facilitate PGNiG's flotation on the stock market. A successful privatisation will enable the company to continue its expansion and to obtain the capital it needs to face up to its investment related expenditure. PGNiG aims to be a highly competitive company, not only in Poland but also in Europe. To achieve this, investments are being made aimed at boosting national gas extraction, which will make it possible to improve the company's competitiveness. The firm seeks to be a key player to discussions focusing on infrastructure for the transportation of natural gas towards Europe and is carrying out negotiations with partners concerning the construction of connections known as 'interconnections' between the gas pipeline systems of the respective European countries. The company's participation in the planned construction of the Bernau-Szczecin pipeline is similar in nature to the project for the delivery of compressed natural gas. (author)

  9. Stock Market Integration: Are Risk Premiums of International Assets Equal?

    Directory of Open Access Journals (Sweden)

    Kusdhianto Setiawan

    2014-02-01

    Full Text Available This paper studies previous research on capital market integration and applies a simple international capital asset pricing model by considering the incompleteness in market integration and heteroscedasticity of the market returns. When we disregarded those two factors, we found that stock markets were integrated and the law of one price on risk premiums prevails. However, when the factors were considered, the markets were just partially integrated.

  10. Editorial European conference on integrated optics (ECIO'10)

    NARCIS (Netherlands)

    Williams, K.A.

    2011-01-01

    This Special Issue contains a selection of extended papers from the Fifteenth European Conference on Integrated Optics held on 7-9 April 2010. The First European Conference on Integrated Optics in the series was held in London, UK thirty years ago, and the conference has been held biannually across

  11. European electricity markets reforms: the 'visible hand' of public coordination

    International Nuclear Information System (INIS)

    Finon, Dominique; Roques, Fabien

    2013-01-01

    The paper investigates how proposed reforms on policies to maintain generation adequacy and encourage clean technology investments in a number of European countries modify the role of the market. In these reforms the government, regulator and system operator take on explicit planning and coordination responsibilities with the introduction of capacity mechanisms and long-term support for clean technologies. We highlight the interactions of these mechanisms with the electricity market and how they reallocate risks between generators, government and consumers. The different mechanisms offer varying degrees of autonomy to generators with regards to investment decisions. In a prospective way, the paper also explores how designs of these different mechanisms might converge towards a unified technology neutral mechanism in the long-run. This could involve auctioning of long-term contracts for all types of existing and new capacities, whether it is low carbon or fossil fueled. (authors)

  12. Switzerland - its position within a liberalised European power market

    International Nuclear Information System (INIS)

    Kiener, E.

    2005-01-01

    This article takes a look at the situation in Switzerland shortly before parliamentary discussions on the liberalisation of Switzerland's electricity market. In particular the interconnection of Switzerland's electricity supply system with that of the rest of Europe is discussed. The power black-out that occurred in Italy in September 2003 is looked at. In particular, its relevance to power supply infrastructures is discussed and the fast-changing international configurations that are resulting from the liberalisation of electricity markets are looked at. Questions of international power transfer capacities and their allocation are looked at in detail in the light of the occurrences in 2003. The lessons that must be learned from the blackout are discussed and Switzerland's geographical position as an important hub of the European power transfer system are considered

  13. Technology and labour market in the European Union

    Directory of Open Access Journals (Sweden)

    Andreea Burciu

    2017-05-01

    Full Text Available Nowadays, the digital economy represents the main engine of innovation, competitiveness and growth potential at European level, being a real opportunity for entrepreneurs and Small and Medium Enterprises (SMEs. The faster a company embraces technology, the more successful it can become. Technology dominates the present times more and more, preparing new and challenging horizons, leading the world to a new dimension, improving our lives in all the possible ways. Technology holds a real challenge for the labour market which, on the one hand, should adapt to the new pace imposed by computers and smart devices. On the other hand, there is an increasing and stringent demand of highly qualified personnel to get further the current “tech revolution”. In this context, it is interesting to study how the EU Member States have developed their infrastructure, education and which is the status of labour market in IT&C, using a cluster analysis applied on 2014 data obtained from Eurostat.

  14. Black Sea Traffic and European Integration

    Directory of Open Access Journals (Sweden)

    Veselina Urucu

    2012-10-01

    Full Text Available The Black Sea is a major component of the MeditetmneanSea. It is a bridge between two continents and a factor of cohesionamong ancient neighbouring spaces of civilisation. Someof its geographical peculiatities make of it a half-closed sea betweenEurope and Asia. Its link with the Mediterranean is securedby the Bosphorus and the Dardanelles Straits and thencewith the planetaty ocean. So, the Black Sea ports represent actualgateways to the world for its tiverain countries. These portsboomed or waned in terms of the riverain regions' hist01y. After1990, and moreover after the Soviet Union fell apatt and newsovereign states came into being, the Pontic space has been undergoingmajor geopolitical changes. Traffic suffered radicalchanges, being governed by fresh criteria and directions. Thereis growing competition among the city-ports and, under the1992 Black Sea Economic Co-operation Treaty, new regionaldevelopment opportunities have been cropping up for the individualstates. Viewed at global scale, the Black Sea might play,if integrated into an adequate programme, an essential role ofcohesion and stability in a complex European zone with a histOtyfull of turmoil.

  15. The role of Liquefied Natural Gas (LNG) in the European gas market

    International Nuclear Information System (INIS)

    Mahan, A.

    2003-06-01

    The purpose of this paper is to discuss the role that Liquefied Natural Gas (LNG) might play in the future EU gas market. LNG imports are not likely to have a place in the Netherlands soon, but they could make an important contribution to the volume and diversity of Europe's gas supplies. An important characteristic of LNG is its inherently high costs, throughout the whole chain, from the wellhead to the market. These costs are considerably higher than the costs of bringing oil to the market. Cost considerations, in combination with the rigidity of the gas market, have led to the use of long-term contracts as a basis for the business, as is the case for the long haul pipeline gas business. Costs have come down considerably and further cost reductions are 'in the pipeline'. While this does not alter the fundamentals of the business it has nonetheless helped to extend the reach of LNG. LNG from the Middle East to Europe has now become economically feasible. The high gas prices of recent years have further fuelled the expansion of the LNG business. Supported by a rapidly growing global economy at the turn of this century, many prospects are under development. The positive economic outlook has seen more speculative positioning in every segment of the LNG chain, while more vertical integration has been industry's response to market liberalisation. The more recent slowdown of the market economies has created a surplus of LNG, which is finding its way onto the markets through short-term and spot transactions. The short-term business will grow over the next few years as more LNG and shipping capacity comes on-stream. However, given underlying high costs and limited flexibility, it should be expected that new projects, currently under consideration, will only be developed on the basis of long-term contracts, thus returning to a balance between supply and demand. For these same reasons, LNG will not likely develop the same the liquidity as that of the oil market. The global

  16. European integration dimension of Republic of Moldova as development path in a globalization setting

    Directory of Open Access Journals (Sweden)

    Natalia ANTOCI

    2015-12-01

    Full Text Available In a global market economy, the opening towards outward, standard harmonization and convergence of national economies can create the necessary synergy in order to address the challenges of globalization. Republic of Moldova needs to develop partnership relations with European Union (EU countries, which have experience in relation to commodity markets, and without which it is difficult to modernize the economy and diversify its export. Moldova's integration into the European Union allows increasing dynamism and sustainability of the economic system of our country and allows implementing a new model of economic growth according to EU Member States' experience.

  17. The development of European gas markets. Environmental, economic and political perspectives

    International Nuclear Information System (INIS)

    Estrada, J.; Moe, A.; Martinsen, K.D.

    1996-01-01

    By reviewing past history and developments in the European gas markets and European energy policy, this book identifies the driving forces for future market development. Topics covered include future gas demand and potential supplies, inter-fuel competition and the likely structure of gas markets in Europe in the future. (UK)

  18. Multi-agent simulation of competitive electricity markets: Autonomous systems cooperation for European market modeling

    DEFF Research Database (Denmark)

    Santos, Gabriel; Pinto, Tiago; Morais, Hugo

    2015-01-01

    The electricity market restructuring, and its worldwide evolution into regional and even continental scales, along with the increasing necessity for an adequate integration of renewable energy sources, is resulting in a rising complexity in power systems operation. Several power system simulators...... have been developed in recent years with the purpose of helping operators, regulators, and involved players to understand and deal with this complex and constantly changing environment. The main contribution of this paper is given by the integration of several electricity market and power system models......, respecting to the reality of different countries. This integration is done through the development of an upper ontology which integrates the essential concepts necessary to interpret all the available information. The continuous development of Multi-Agent System for Competitive Electricity Markets platform...

  19. Speculative and hedging activities in the European carbon market

    International Nuclear Information System (INIS)

    Lucia, Julio J.; Mansanet-Bataller, Maria; Pardo, Ángel

    2015-01-01

    We explore the dynamics of the speculative and hedging activities in European futures carbon markets by using volume and open interest data. A comparison of the three phases in the European Union Emission Trading Scheme (EU ETS) reveals that (i) Phase II of the EU ETS seems to be the most speculative phase to date and (ii) the highest degree of speculative activity for every single phase occurs at the moment of listing the contracts for the first time. A seasonality analysis identifies a higher level of speculation in the first quarter of each year, related to the schedule of deadlines of the EU ETS. In addition, a time series analysis confirms that most of the speculative activity each year occurs in the front contract, whereas the hedging demand concentrates in the second-to-deliver futures contract. -- Highlights: •This study explores the evolution of speculative and hedging activities in futures carbon markets by using volume and open interest data. •Phase II of the EU ETS seems to be the most speculative phase to date. •A seasonality analysis identifies a higher level of speculation in the first quarter of each year. •Most of the speculative activity occurs in the front contract. •The hedging demand concentrates in the second-to-deliver futures contract

  20. THE IMPACT OF ACCESSION TO THE EUROPEAN UNION ON THE ROMANIAN CAPITAL MARKET

    OpenAIRE

    Dragoş Mînjină; Andrei Stănculescu

    2007-01-01

    The accession to the European Union has had a significant impact on the Romanian capital market. In this paper are presented some aspects of the capital market which are influenced by the mentioned event, such as a harmonized legislation with EU legislation and restructured capital market architecture. In order to synthesize the accession effect on the Romanian capital market, we have analyzed the specific market indicators (such as market value, turnover, market indexes etc.), computed for t...

  1. European Gas Market Liberalisation. Competition versus security of supply?

    International Nuclear Information System (INIS)

    Haase, N.

    2009-01-01

    The problem statement encompasses two basic questions: (1) Which variables determine regulatory regimes and economic performance in European gas markets?; and (2) Can we empirically determine the effect of regulation-for-competition, as applied in the European Union, on the economic performance in the European gas markets? In the first part (chapters 1-5), the theoretical groundwork is laid out and conceptual clarifications are provided. In chapter 2, the main concepts such as governance and regulation, and their interrelations, are determined and the public regulation approach to be followed is outlined. The third chapter discusses our theoretical framework and the support required from other New Institutional approaches to deduce expectations regarding the convergence of regulatory regimes and its effect on economic performance. The fourth chapter contributes to answering our first research question by displaying the relevant variables and outlining how these can be operationalised. Based on the concepts of regulatory comprehensiveness and policy convergence, in chapter 5, a methodology is developed to measure best-practice in terms of regulation-for-competition. The second part (chapters 6-9) covers the first empirical analysis which is quantitative in design and emphasises effects originating at the Community level. Chapter 6 summarises the evolution of European gas policy at the Community level and searches for major changes in general or energy policy objectives and examines their prioritisation. Chapter 7 addresses the formal institutions on the second layer of the fourlayer model. Chapter 8 analyses converging and diverging trends within regulatory regimes in European gas markets. Chapter 9 sets out to assess the extent to which regulation-for-competition, as prescribed by the European provisions, can be empirically studied for its effect on economic performance in the European gas sector. To answer our second main research question, we discuss the effects

  2. Analysis of Price Variation and Market Integration of Prosopis ...

    African Journals Online (AJOL)

    Analysis of Price Variation and Market Integration of Prosopis Africana (guill. ... select five markets based on the presence of traders selling the commodity in the markets ... T- test result showed that Prosopis africana seed trade is profitable and ...

  3. Towards a Pan-European energy balancing market : exercise on coupling the United Kingdom and continental Europe

    NARCIS (Netherlands)

    Escudero Concha, C.; Haan, de J.E.S.; Virag, A.; Gibescu, M.; Kling, W.L.

    2014-01-01

    Increasing levels of wind power generation in the coming years will displace conventional generation, impacting the need for balancing reserves. The upcoming integration of pan-European balancing markets seeks to increase collaboration between areas for optimal provision of services. The challenge

  4. Energy market integration in South America

    International Nuclear Information System (INIS)

    Hammons, T.J.; Franco, N. de; Sbertoli, L.V.; Khelil, C.; Rudnick, H.; Clerici, A.; Longhi, A.

    1997-01-01

    This article is a summary of presentations made during the 1997 Winter Meeting panel session on Power and Natural Gas in Latin America: Towards an Integrated Market. Reregulation and demand for energy resources to support economic growth are driving international natural gas and electricity exchange initiatives. Panelists focused on the gas and electric power industry in Latin America in terms of the: transport of gas or transmission of electricity; energy market integration in the southern cone of South America; and issues on gas use for electricity generation in South America countries. Countries such as Argentina, Bolivia, and Peru will export natural gas to Brazil, Uruguay, Paraguay and Chile, an the energy matrices of these countries will change

  5. Market Integration Dynamics and Asymptotic Price Convergence in Distribution

    NARCIS (Netherlands)

    A. García-Hiernaux (Alfredo); D.E. Guerrero (David); M.J. McAleer (Michael)

    2015-01-01

    textabstractThis paper analyzes the market integration process of nominal prices, develops a model to analyze market integration, and presents a test of increasing market integration. A distinction is made between the economic concepts of price conver- gence in mean and variance. When both types of

  6. Market Integration Dynamics and Asymptotic Price Convergence in Distribution

    NARCIS (Netherlands)

    A. García-Hiernaux (Alfredo); D.E. Guerrero (David); M.J. McAleer (Michael)

    2013-01-01

    textabstractIn this paper we analyse the market integration process of the relative price distribution, develop a model to analyze market integration, and present a formal test of increasing market integration. We distinguish between the economic concepts of price convergence in mean and in

  7. The European gen-set market: growth and consolidation mean joy and pain

    International Nuclear Information System (INIS)

    French, Ian

    2000-01-01

    The changes in the European gen-set market are discussed. In recent years the market has undergone a period of increasing consolidation: prices fell and some companies folded. However, the market is not dead and continued growth is expected over the next five years although the compound rate is forecast to be only 1.5%. The article is presented under the sub-headings of (i) current market situation; (ii) product lifecycle; (iii) shipments by technology; (iv) market deregulation; (v) technology overview (spark ignition, compression ignition and gas turbines) (vi) European market: national overview and (vii) key market challenges (competition, emissions and over capacity)

  8. The theoretical arsenal of the European industrial integration

    Directory of Open Access Journals (Sweden)

    Yevhenii Machok

    2009-03-01

    Full Text Available In this article there was researched the key theories of the European industrial integration, made a comparative analysis. There has been done a detailed analysis of the main approaches to study and explanation of the industrial complexes integration of the European Union member states. There were described the key principles of the following concepts: functionalism, neofunctionalism, federalism, functional confederalism, theory federalism, of transactionalism, international regime, interdependency theory, agreement system, dynamism theory of the European industrial policy, intergovernmentalism, theory of multilevel management, theory of networks policy, government-centrism, neoinstitutionalism, comparativism and others. The obtained results can be used as a theoretical basis for the further study of the industrial policies among European Union member states; their approximation in the context of the formation of the common European economic complex and integration process of the member states.

  9. Orion European Service Module (ESM) Development, Integration and Qualification Status

    Science.gov (United States)

    Berthe, Philippe; Over, Ann P.; Picardo, Michelle; Byers, Anthony W.

    2017-01-01

    ESA and the European Industry are supplying the European Service Module for Orion. An overview of the system and subsystem configuration of the Orion European Service Module (ESM) as designed and built for the EM-1 mission is provided as well as an outline of its development, assembly, integration and verification process performed by ESA and NASA in coordination with their respective Industrial prime contractors, Airbus Defence and Space and Lockheed Martin.

  10. A Marketing Perspective on Mergers and Acquisitions : How Marketing Integration Affects Postmerger Performance

    OpenAIRE

    Homburg, Christian; Bucerius, Matthias

    2004-01-01

    Previous research on mergers and acquisitions (M&A) has neglected marketing issues by and large. This paper examines the effects of post merger integration (PMI) in marketing (ex tent and speed of marketing integration) on M&A performance mediated by integration outcomes (magnitude of cost savings and market-related performance). Results from a survey of 232 horizontal mergers and acquisitions show that market-related performance after the merger or acquisition has a much stronger impac...

  11. Energy efficiency and performance indicators of European electricity market

    Directory of Open Access Journals (Sweden)

    Constantin DUGULEANĂ

    2015-06-01

    Full Text Available The electric power system plays a vital role in the development of every country, ensuring the “fuel” which feeds its economic motor. The efficient functioning of this motor is essential for economy. The efficiency and the performances of electric power systems are reflected on the living level of population, through the money spent and the satisfaction level of their needs. The continuity of power distribution process, the good communication between the suppliers and consumers, the promptitude of interventions, the environment protection - all these are aspects characterizing the performance level of power distribution systems. The paper analyzes the evolution of quality indicators of power distribution systems both for countries’ level and for population on European market of electricity.

  12. The foreign exchange market interventions of the European Central Bank

    Directory of Open Access Journals (Sweden)

    M. Frenkel

    2001-09-01

    Full Text Available We analyze the effectiveness of the foreign exchange market interventionsconducted by the European Central Bank (ECB in the fall of 2000 to support the external stability of the euro. To this end, we discuss different channels through whichinterventions may influence exchange rate dynamics. We use the insights provided by the theoretical and empirical literature to evaluate the effectiveness of theintervention policy of the ECB. In addition, we present an empirical analysis in which we use intra-daily exchange rate data to examine in detail the effects of theinterventions. We find that the interventions only had a rather short-term impact on the exchange rate path and had no effects beyond the short term. Therefore, our results suggest that the intervention policy of the ECB was not effective.

  13. Implementation of the European directive for the market of negotiable CO2 emission permits

    International Nuclear Information System (INIS)

    Coussy, P.

    2004-01-01

    The European directive 87/2003/CE, establishing a system of exchange of greenhouse gas emission quotas, was adopted on July 22, 2003. Before the opening of the gas market on July 1, 2005, the industrialists will have to integrate in their strategic development plan the existence of a new financial asset: the CO 2 quota. At a time when all member states are preparing their 'climate plan', a given number of CO 2 emission quotas will be assigned to industrialists. They will have to stay below these quotas otherwise financial sanctions will be imposed. (J.S.)

  14. LABOUR MARKET INTEGRATION ISSUES RELATED TO MIGRANTS ARRIVING TO HUNGARY

    Directory of Open Access Journals (Sweden)

    Peter Miklos Komives

    2016-07-01

    Full Text Available The migration flows appearing in the recent years have gained central relevance in Hungary. Previously people were having no opinion about the current situation of issues related to migration but the increased media attention lead to the development of mixed attitudes among people. Some people feel sorry for the families who are coming from the war zones and lost their homes, others have fear of losing their position at work, or their families because of the acts they have heard from the media and they are hostile to the issue of integration whether it is about education or the labour market. According to the statistical data; in the third quarter of 2015, more than hundred thousand asylum-seekers arrived to Hungary, which dropped drastically in the fourth quarter caused by the significant transformation of the asylum process. This study is intended to serve two objectives: first describe the comprehensive picture of labour market attitudes towards migrants and secondly to identify factors that affect the employment of foreigners in Hungary using secondary data sources. Based on this analysis those questions can be formulated, which may constitute a basis for further labour market researches for the integration of migrants. From our point of view there are vital aspects of the migrants’ successful social integration; we have to integrate the migrants who are coming to our country and plan to stay for a longer time to the field of education and the labour market. The social integration of migrants in a country is closely linked to employment, to the integration into the labour market, and in many cases one of the obstacles in this regard is the prejudiced behaviour and negative attitudes towards migrants which manifests itself as the discrimination in the labour market. The results of the European Commission confirm that in Hungary the ethnicity as a variable appears to be the second on the list of the most serious discrimination factors

  15. The European electricity market. What are the effects of market power on prices and the environment? Keywords: Electricity market; liberalisation; market power; game theory; environmental impacts; Northwestern Europe

    International Nuclear Information System (INIS)

    Lise, W.

    2005-07-01

    This paper presents a static computational game theoretic COMPETES model. This model is used to study the economic and environmental effects of the liberalisation of the European electricity market. The COMPETES model takes strategic interaction into account. The model is calibrated to four European countries: Belgium, France, Germany and the Netherlands. To analyse the impact of emission trading, a fixed permit price per tonne CO2 emissions is introduced. The effects are studied under different market structures depending on the ability of firms to exercise market power. The results indicate that the effects of liberalisation depend on the resulting market structure, while a reduction in market power of large producers may be beneficial for the consumer (i.e. lower prices), this is not necessarily true for the environment (i.e. lower reduction in CO2 emissions)

  16. Thesis: the ''evolutions of the long term European gas market - organisation and costs''

    International Nuclear Information System (INIS)

    Ouvry, V.

    1998-01-01

    This paper presents the main conclusions of the thesis defended by the author on January 30, 1998: recalls of some characteristics of the European gas market, the stakes of the gas market liberation, the regulatory aspects, the tariffs problem, the competition in the gas marketing segment, and different possible modeling of the gas market evolution (contracts, costs, competition). (J.S.)

  17. EMPIRICAL DISTRIBUTION OF STOCK RETURNS OF SOUTHEAST EUROPEAN EMERGING MARKETS

    Directory of Open Access Journals (Sweden)

    Aleksandar Naumoski

    2017-06-01

    Full Text Available The assumption that equity returns follow the normal distribution, most commonly made in financial economics theory and applications, is strongly rejected by empirical evidence presented in this paper. As it was found in many other studies, we confirm that stock returns follow a leptokurtic distribution and skewness, which in most of the Southeast European (SEE markets is negative. This paper investigates further whether there is any distribution that may be considered an optimal fit for stock returns in the SEE region. Using daily, weekly and monthly data samples for a period of five years from ten Southeast European emerging countries, we applied the Anderson-Darling test of Goodness-of-fit. We strongly rejected the aforementioned assumption of normality for all considered data samples and found that the daily stock returns are best fitted by the Johnson SU distribution whereas for the weekly and monthly stock returns there was not one predominant, but many distributions that can be considered a best fit.

  18. THE QUANTIFICATION OF THE EUROPEAN INTEGRATION DEGREE OF ROMANIA’S BANKING SYSTEM

    Directory of Open Access Journals (Sweden)

    Mădălina RĂDOI

    2014-05-01

    Full Text Available There are many methodologies described in the literature for approaching the integration process of financial markets in a given area (a comprehensive study of this subject can be found in Adam K, Jappelli T, Menichini A, Padula M, Pagano M (2002. Financists Emiris (1, Stulz (2, Ferson and Harvey (3 focus their work on the integration of capital markets. Other works look at financial integration from the angle of benefit and cost (4, from a legislative perspective (5, 6, or studying various segments of financial markets (7. In this paper, the subject of convergence is approached first of all by analysing interest rates in the Romanian interbank market, which are on a converging trend to similar values in the EU. In the second part, we propose a model for testing both the mobility of Romanian banking capitals and the European integration process of Romania’s banking sector. The model is based on the idea of maximising the Sharpe index in the portfolio theory. Furthermore, knowing that the Romanian economy and its macroeconomic variables have been a function of the American currency more than the European one, we deemed it useful to study whether and to which extent the Romanian banking sector has any converging trend to the American currency market.

  19. Milestones of European Integration: Which matters most for Export Openness?

    DEFF Research Database (Denmark)

    Hiller, Sanne; Kruse, Robinson

    The European integration process has removed barriers to trade within Europe. We analyze which integration step has most profoundly influenced the trending behavior of export openness. We endogenously determine the single most decisive break in the trend, account for strong cross-country heteroge......The European integration process has removed barriers to trade within Europe. We analyze which integration step has most profoundly influenced the trending behavior of export openness. We endogenously determine the single most decisive break in the trend, account for strong cross...... and the Netherlands are the Euro introduction, the Maastricht Treaty, the Exchange Rate Mechanism I and the merge of EFTA and EEC to the European Economic Area, respectively. Our empirical results have important implications for inner-European economic development, as export openness feeds back into growth...

  20. Competition in the European electricity markets – outcomes of a Delphi study

    International Nuclear Information System (INIS)

    Makkonen, Mari; Pätäri, Satu; Jantunen, Ari; Viljainen, Satu

    2012-01-01

    Internal European electricity markets are a target set by the European Union (EU) and under development at present. This article presents the findings of a Delphi study focusing on the prospects of European electricity markets. The main aim is to report the obstacles that participants in the survey felt were the most critical ones affecting competition in the European electricity markets of the future. The respondents were European electricity market specialists, and the themes of the survey ranged from transmission networks and electricity trade to demand flexibility. One of the key findings was shared concern over the adequacy of transmission network capacity in Europe. It was considered that technical issues, such as existing transmission network bottlenecks, are most likely to form obstacles to creating common European electricity markets if new capacity is not built quickly enough. It was seen by the panellists that electricity trading arrangements, whilst important, are unlikely to form a barrier to the development of an internal electricity market. It was noted that electricity trading issues have recently been the subject of development work in the EU. - Highlights: ► The internal electricity market is a priority of the European Union. ► The Delphi method was used to study competition in the European electricity markets. ► The congested grid hampers the development of internal electricity markets in Europe. ► The significance of a transmission network will be emphasised in the future. ► Electricity trading arrangements are likely to be solved.

  1. European schemes for promoting renewables in liberalised markets

    International Nuclear Information System (INIS)

    Meyer, Niels I.

    2003-01-01

    The paper describes possibilities and problems for penetration of supply systems based on renewable energy sources in liberalised markets. The analysis is based on recent development in EU with different models for support of installations based on renewable energy. These include feed-in models with guaranteed minimum tariffs, tender models for different bands of technologies, and green certificates trading models with obligatory consumer quota. The paper describes the market situation in selected European countries, including Germany, the UK, Holland and Denmark. An EU directive from September 2001 has postponed the decision on a possible harmonisation of promotional models until at least 2005 in order to obtain more practical experience with the different support schemes. A critical evaluation is given in this paper of the different models with proposals for a balanced development between environmental and trading concerns. It is argued that too much emphasis is presently given to the side of free trade at the expense of long range planning for a sustainable energy development

  2. MEASURING THE SENSITIVITY OF TURKISH AND ROMANIAN STOCK MARKETS TO EUROPEAN STOCK MARKETS: A COMPARATIVE ANALYSIS

    Directory of Open Access Journals (Sweden)

    Ismet ATES

    2009-05-01

    Full Text Available Since the process of globalization accelerates all over the world, trade and economic relations among countries become very intensive and the stock markets in these countries started to integrate to each other quickly. As a result of this, world wide stoc

  3. Market power across the Channel: Are Continental European gas markets isolated?

    International Nuclear Information System (INIS)

    Massol, Olivier; Banal-Estanol, Albert

    2014-01-01

    This paper examines the efficiency of the arbitrages performed between two regional markets for wholesale natural gas linked by a capacity-constrained pipeline system. We develop a switching regime specification to (i) detect if the observed spatial arbitrages satisfy the integration notion that all arbitrage opportunities between the two markets are being exploited, and (ii) decompose the observed spatial price differences into factors such as transportation costs, transportation bottlenecks, and the oligopolistic behavior of the arbitrageurs. Our framework incorporates a test for the presence of market power and it is thus able to distinguish between the physical and behavioral constraints to marginal cost pricing. We use the case of the 'Interconnector' pipeline as an application, linking Belgium and the UK. Our empirical findings show that all the arbitrage opportunities between the two zones are being exploited but confirm the presence of market power. (authors)

  4. European Transition into a Socio-ecological Market Economy

    Directory of Open Access Journals (Sweden)

    Erich Hoedl

    2014-10-01

    Full Text Available The European Union has introduced the Europe 2020 Strategy and Horizon 2020, which contain several elements for a transition into a Socio-ecological Market Economy. But their implementations are mainly hampered by the unduly large financial sector and the political striving for high economic growth. A turn into low growth equilibrium needs a reduction of total capital inputs, which are composed of financial, man-made and natural capital. Whereas the reduction of financial capital needs a strong, but actually lacking political will, the reduction of man-made and natural capital depends on a real capital saving innovation system, which should partly be financed by a transfer of financial capital to the real productive sector. Beyond a strong reduction of financial capital and depending on existing ecological, social and economic problems, the innovation system should save man-made and natural capital accordingly. In all cases these innovations need higher qualification by means of a human-centered educational system. Higher educational investments, i.e. augmented “human capital,” are decisive for a transition into a Socio-ecological Market Economy for two reasons: First, higher qualification will augment the wage-profit relation and second, capital saving innovations will reduce productive capital inputs without reducing the profit rate on the reduced real capital stock. Increasing “human capital” intensity will accelerate the transition into low growth equilibrium with a higher consumption-investment relation, which creates more domestic final demand and needs lower export surpluses. Starting from existing high productive and financial capital intensity, during the transition saving surpluses in Europe will decline only step by step; they should not be allocated in financial markets, but for a considerably more human-centered education and real investments in Europe and the Third World.

  5. ROMANIAN SME-S AFTER INTEGRATION IN EUROPEAN UNION

    Directory of Open Access Journals (Sweden)

    Corina Ana BORCOŞI

    2010-03-01

    Full Text Available According with the White Charter of Romanian SME-s 2007, Romanian integration in European Union was considered a great opportunity for the 46,67% of SME-s, just 9,18% of SME-s consider it like a major threatening. Romanian integration in European Union gave us much benefits and big responsibilities for all participants to this complex and long action, which is integration. The influence of integration in EU for SME-s was manifested in some special directions like: human resource, quality and competitiveness, ethics in business.

  6. European Energy Markets Observatory. 2007 and Winter 2007/2008 Data Set

    International Nuclear Information System (INIS)

    2008-11-01

    Launched in 2002, with the primary objective to assess the progress of deregulation in the European Member States, the report now tackles all the major issues faced by the Utilities industry and analyses its main indicators. This allows to monitor the supply and demand balance, measure the progress in establishing a European integrated market and follow the advancement of competition. The report scans all the segments of the value chain and analyses the hot topics of the moment (impact of the crisis on the sector, increase of the energy prices, nuclear, security of supply, renewables, climate change issues, CO2 emissions, end-users' tariffs, etc.), to identify the key trends of the electricity and gas industries. This is the 10th edition.

  7. European Energy Markets Observatory. 2008 and Winter 2008/2009 Data Set

    International Nuclear Information System (INIS)

    2009-11-01

    Launched in 2002, with the primary objective to assess the progress of deregulation in the European Member States, the report now tackles all the major issues faced by the Utilities industry and analyses its main indicators. This allows to monitor the supply and demand balance, measure the progress in establishing a European integrated market and follow the advancement of competition. The report scans all the segments of the value chain and analyses the hot topics of the moment (impact of the crisis on the sector, increase of the energy prices, nuclear, security of supply, renewables, climate change issues, CO2 emissions, end-users' tariffs, etc.), to identify the key trends of the electricity and gas industries. This is the 11th edition.

  8. European Energy Markets Observatory. 2009 and Winter 2009/2010 Data Set

    International Nuclear Information System (INIS)

    2010-11-01

    Launched in 2002, with the primary objective to assess the progress of deregulation in the European Member States, the report now tackles all the major issues faced by the Utilities industry and analyses its main indicators. This allows to monitor the supply and demand balance, measure the progress in establishing a European integrated market and follow the advancement of competition. The report scans all the segments of the value chain and analyses the hot topics of the moment (impact of the crisis on the sector, increase of the energy prices, nuclear, security of supply, renewables, climate change issues, CO2 emissions, end-users' tariffs, etc.), to identify the key trends of the electricity and gas industries. This is the 12th edition.

  9. European conferences. Integration of renewable energies in buildings; Conferences europeennes. Integration des energies renouvelables dans le batiment

    Energy Technology Data Exchange (ETDEWEB)

    Bal, J.L. [ADEME, Agence de l' Environnement et de la Maitrise de l' Energie, 75 - Paris (France); Letz, T. [Asder, 73 - Saint Alban Leysse (France); Tuille, F. [Observ' er, 75 - Paris (France)] [and others

    2001-07-01

    This document comprises 2 parts. First part is a detailed program of the exhibition with a press dossier which presents the different topics discussed during conferences and round tables, the market of renewable energies, and a list of agencies and companies involved in renewable energies development and products. The second part is the abstracts of the lectures presented during the European conferences on the integration of renewable energies in buildings (solar-thermal and photovoltaic systems, wood fuel and biomass). (J.S.)

  10. [Is vocational integration in the competitive labor market a realistic goal for the chronically mentally ill?].

    Science.gov (United States)

    Hoffmann, H

    1999-09-01

    A wide range of sheltered jobs has been created in the second or special labour market with the aim of enabling the chronically mentally ill to participate in working life. However, having a job in the special labour market often precludes the chance of obtain-ing employment in the competitive labour market. To date, vocational integration programs enable only a small number of persons with psychiatric disabilities to attain reintegration into competitive employment. The predictors of successful vocational integration are subsequently discussed. A substantial increase in both sheltered and competitive jobs on the common labour market could be achieved for mentally ill and disabled people by adapting the "supported employment" model, as widely practised in the USA, to European labour market standards and appropriately funding its implementation. The utilisation of this model could serve to reduce the necessity of further expansion in the special labour market.

  11. The emergence of distributed generation in a liberalizing european electricity market

    International Nuclear Information System (INIS)

    Habay, P.; Pariente David, S.

    1999-01-01

    The liberalization, of the European electricity market accelerates the market entry of innovative small scale power generation and communication technologies applicable for a competitive power supply offering. The pressure of competition will push incumbent utilities as well as new entrants to tap any source of economic efficiencies in order to secure a competitive advantage and sufficient margins. The integration of a power generation unit on site or close to end-user premises without additional constraint for end-user is a potential source of economic efficiency. These systems enable to meet the needs of end-users at an attractive price and, beyond this, to free capacities for power exchange through the grid. These new practices lay the basis for distributed generation business which should experience significant growth in Europe over the next decade assuming that technologies meet efficiencies as announced. (authors)

  12. HERDING BEHAVIOR UNDER MARKETS CONDITION: EMPIRICAL EVIDENCE ON THE EUROPEAN FINANCIAL MARKETS

    Directory of Open Access Journals (Sweden)

    Moatemri Ouarda

    2013-01-01

    Full Text Available This study presents four main contributions to the literature of behavior herding. Firstly, it extends the behavioral researches of herding of the investors on a developed market and mainly on a European market as a whole. Secondly, we are interested in examination of herding behavior at the level of sectors by using data at the levels of companies. Thirdly, this document estimates the implications of herding behavior in terms of returns, volatility and volume of transaction. Fourthly, the herding behavior is revealed as well during the period of the recent global financial crisis in 2007-2008 and of Asian crisis. Our results reveal a strong evidence of herding behavior sharply contributed to a bearish situation characterized by a strong volatility and a trading volume. The repercussion of herding during the period of the recent financial crisis is clearly revealed for the sectors of the finance and the technology.

  13. Flexible reserve markets for wind integration

    Science.gov (United States)

    Fernandez, Alisha R.

    The increased interconnection of variable generation has motivated the use of improved forecasting to more accurately predict future production with the purpose to lower total system costs for balancing when the expected output exceeds or falls short of the actual output. Forecasts are imperfect, and the forecast errors associated with utility-scale generation from variable generators need new balancing capabilities that cannot be handled by existing ancillary services. Our work focuses on strategies for integrating large amounts of wind generation under the flex reserve market, a market that would called upon for short-term energy services during an under or oversupply of wind generation to maintain electric grid reliability. The flex reserve market would be utilized for time intervals that fall in-between the current ancillary services markets that would be longer than second-to-second energy services for maintaining system frequency and shorter than reserve capacity services that are called upon for several minutes up to an hour during an unexpected contingency on the grid. In our work, the wind operator would access the flex reserve market as an energy service to correct for unanticipated forecast errors, akin to paying the generators participating in the market to increase generation during a shortfall or paying the other generators to decrease generation during an excess of wind generation. Such a market does not currently exist in the Mid-Atlantic United States. The Pennsylvania-New Jersey-Maryland Interconnection (PJM) is the Mid-Atlantic electric grid case study that was used to examine if a flex reserve market can be utilized for integrating large capacities of wind generation in a lowcost manner for those providing, purchasing and dispatching these short-term balancing services. The following work consists of three studies. The first examines the ability of a hydroelectric facility to provide short-term forecast error balancing services via a flex

  14. Prices vs. quantities. Incentives for renewable power generation. Numerical analysis for the European power market

    Energy Technology Data Exchange (ETDEWEB)

    Nagl, Stephan

    2013-02-15

    In recent years, many countries have implemented policies to incentivize renewable power generation. This paper outlines the effects of weather uncertainty on investment and operation decisions of electricity producers under a feed-in tariff and renewable quota obligation. Furthermore, this paper tries to quantify the sectoral welfare and investments risks under the different policies. For this purpose, a spatial stochastic equilibrium model is introduced for the European electricity market. The numerical analysis suggests that including the electricity market price in renewable policies (wholesale price + x) reduces the loss of sectoral welfare due to a renewable policy by 11-20 %. Moreover, investors face an only slightly higher risk than under fixed price compensations. However, electricity producers face a substantially larger investment risk when introducing a renewable quota obligation without the option of banking and borrowing of green certificates. Given the scenario results, an integration of the hourly market price in renewable support mechanisms is mandatory to keep the financial burden to electricity consumers at a minimum. Additionally, following the discussion of a European renewable quota after 2020, the analysis indicates the importance of an appropriate banking and borrowing mechanism in light of stochastic wind and solar generation.

  15. The new populism. Transnational governance and European integration

    NARCIS (Netherlands)

    Holman, O.H.

    2003-01-01

    In this paper it will be argued that the asymmetrical form of (regional) regulation in the European Union - i.e. strong on economic and monetary free market regulation and weak on social regulation - is forming part of a more comprehensive hegemonic discourse coming to the fore in concomitance with

  16. Fiscal aspects of the European monetary integration

    Directory of Open Access Journals (Sweden)

    Golubović Srđan

    2014-01-01

    Full Text Available Along with the introduction of the euro as a single currency, importance of respecting the fiscal aspects which determine longevity of the monetary arrangement is recognized. For this reason, although underdeveloped, the EU fiscal system provides mechanisms to ensure fiscal discipline among member states. In addition to the fulfillment of the convergence criteria which is a precondition for joining the monetary union, they include no bailout clause and monetary financing prohibition. Sovereign debt that escalated in 2010 showed all the imperfections of these arrangements and pointed to the need for introduction of new and more effective fiscal rules. With fiscal system of the European Union as a starting point, the paper analyzes instruments defined by the fiscal system of the Union, which purpose is to ensure fiscal discipline of the European Monetary Union member states. Last part of the paper analyze new fiscal rules introduced as a response to the debt crisis in the Eurozone.

  17. Stock Market Integration Measurement: Investigation of Malaysia and Singapore Stock Markets

    OpenAIRE

    B. K. Yeoh; Z. Arsad; C. W. Hooy

    2010-01-01

    This paper tests the level of market integration between Malaysia and Singapore stock markets with the world market. Kalman Filter (KF) methodology is used on the International Capital Asset Pricing Model (ICAPM) and the pricing errors estimated within the framework of ICAPM are used as a measure of market integration or segmentation. The advantage of the KF technique is that it allows for time-varying coefficients in estimating ICAPM and hence able to capture the varying degree of market int...

  18. Integrated Marketing in Higher Education. Research Report 01-01.

    Science.gov (United States)

    Morris, L. Michelle; Cejda, Brent D.

    Integrated marketing deals with aspects often referred to as the "4 Ps": product, price, place, and promotion. These aspects have also been described as the "4 Cs": customer, cost, convenience, and communication. Integrated marketing has been defined as "a listening-first, database-dependent approach to marketing that includes both a willingness…

  19. The French electricity policy facing European integration and environmental law

    International Nuclear Information System (INIS)

    Begue, M.C.

    2004-02-01

    The french electricity policy is traditionally defined by public authorities. The preference for nuclear power implies great risk and severe damage to the environment. These features of french electricity policy are however questioned by the increasing influence of european law and the (relatively) recent recognition of the environmental issues of such policy. This thesis intends to study the consequences of two 'new' tendencies that seem to be inevitable in the field of electricity policy: the decreasing role of national public authorities and the diffusion of the concept of sustainable development. The theoretical model which underlies the organization of commercial exchanges is replacing the traditional intervention of the State. regarding of this basic good. The adoption of legal rules to organize the electricity market has involved the development of many economic instruments. Those instruments aim at modifying the electricity policy in accordance with the principle of integration of environmental dimension in sectoral policies. The main object of our work is to analyse the consequences of these changes in the concept of public utility as well as in the importance given to environmental protection in the new forms of electricity policies. (author)

  20. Distributed generation in European electricity markets. Current challenges and future opportunities

    Energy Technology Data Exchange (ETDEWEB)

    Ropenus, S. (Technical Univ. of Denmark, Risoe National Lab. for Sustainable Energy. Systems Analysis Div., Roskilde (Denmark))

    2010-07-01

    This Ph.D. thesis studies the role of distributed generation in European electricity markets. It focuses primarily on the interactions of economics and policy with the aim of contributing to the understanding of how distributed generation is embedded in the present regulatory and market framework, which barriers exist, and which role it may possibly play in the future. To capture the interdisciplinarity of the topic, a combination of qualitative and quantitative methods is applied. Subsequent to the identification of barriers, this thesis turns to the microeconomic perspective on the interplay of vertical structure, regulation and distributed generation. This is done through the application of quantitative methods in the form of partial equilibrium models focusing on the effects induced by the vertical structure of the network operator, either a combined operator or a distribution system operator, in a market with small distributed producers. In areas where the promotion of renewable energy sources and combined heat and power has induced a substantial increase in distributed generation, new challenges in system integration arise. In particular, high levels of generation from intermittent energy sources, such as wind, add to the complexity of network operation and control, which can hardly be tackled with the present 'fit and forget' approach. The conclusion is that distributed generation has great potential to enhance competitiveness, sustainability and security of supply in European electricity markets. A prerequisite is the removal of market and regulatory barriers, taking the interdependencies of vertical structure, support mechanisms and network access into account. In the future, higher penetration levels of distributed generation necessitate changes in the power system and the adoption of new technologies, where hydrogen production by grid connected electrolysis constitutes one example. (LN)

  1. Renewable Energies and European Union Law: between (internal) market and general interest

    International Nuclear Information System (INIS)

    Alvesdu, Carlos Manuel

    2014-01-01

    The various legislative instruments of the European Union related to renewable energy illustrate the complex relationship between the market and the public interest in the EU. How does the European public power articulate the public interest and the market? Such European laws are united by the way of a dialectical common approach. Firstly, it is about using the market to achieve the public interest, namely the protection of the environment. Therefore, the promotion of renewable energies, as a public interest goal, largely depends on the market. However, the market can do wrong. When the market is insufficient, fallible, the European Union will not hesitate to intervene to inflect it, in the name of the public interest

  2. Financial integration in the European Union. Measurement and determination

    NARCIS (Netherlands)

    Lemmen, J.J.G.

    1996-01-01

    The first part of this study addresses the measurement of financial integration in the European Union (EU). First, we present empirical evidence on the degree of financial integration as measured with interest parity conditions. Second, the study applies an error-correction model of

  3. Financing Renewable Energy in the European Energy Market

    Energy Technology Data Exchange (ETDEWEB)

    De Jager, D.; Klessmann, C.; Stricker, E.; Winkel, T.; De Visser, E.; Koper, M. [Ecofys, Utrecht (Netherlands); Ragwitz, M.; Held, A. [Fraunhofer ISI, Karlsruhe (Germany); Resch, G.; Busch, S.; Panzer, C. [Energy Economics Group EEG, Vienna University of Technology, Vienna (Austria); Gazzo, A.; Roulleau, T.; Gousseland, P.; Henriet, M.; Bouille, A. [Ernst and Young, London (United Kingdom)

    2011-01-15

    The Directive 2009/28/EC on the promotion of the use of energy from renewable sources (RES) sets the overall target to reach 20% renewable energy in gross final energy consumption in 2020. This target is broken down into binding individual Member State targets. Reaching these targets will require a huge mobilization of investments in renewable energies in the coming decade. In order to improve financing and coordination with a view to the achievement of the 20 % target, Article 23 (7) of the Directive requires the Commission to present an analysis and action plan with a view to: (a) The better use of structural funds and framework programmes; (b) The better and increased use of funds from the European Investment Bank and other public finance institutions; (c) Better access to risk capital; (d) The better coordination of Community and national funding and other forms of support; (e) The better coordination in support of renewable energy initiatives whose success depends on action by actors in several Member States. This report presents the results of the title project. The study provides an up to date and thorough assessment of the costs of renewable energy and the support and financing instruments available for renewable energy R and D, demonstration projects and large-scale deployment. This includes details of each Member State's expenditure (via grants, support schemes, loans etc.) and use of Community funds, including loans of the EIB (European Investment Bank) and the EBRD (European Bank for Reconstruction and Development). It also explores the possible instruments for use in the future and constraints in the capital market, which hinder the development of renewable energy. Finally, it develops recommendations for improving financing and support instruments, improving the sector's access to capital, and closing the financing gap for reaching the 2020 targets. The chapters of the report represent separate tasks: (1) Costs of renewable energy

  4. Integration, Trade Policy and European Footwear Trade

    OpenAIRE

    Winters, L. Alan

    1992-01-01

    This paper constructs a simulation model of the EC footwear market with which to consider the effects of EC trade policies. It examines the Southern enlargement of the EC, the quotas imposed on Korean and Taiwanese sales - initially in France and Italy and subsequently, in line with the `1992' programme, EC-wide - and the liberalization of imports from Eastern Europe. Import restrictions are shown to be costly - especially those against Eastern Europe.

  5. City Marketing: Towards an Integrated Approach

    NARCIS (Netherlands)

    E. Braun (Erik)

    2008-01-01

    textabstractThis PhD thesis deals with city marketing: cities making use of marketing ideas, concepts and tools. Marketing has proved its value in the business environment, but what about applying marketing in the context of cities? How can cities make effective use of the potential of marketing?

  6. Industrial Citizenship, Cosmopolitanism and European Integration

    DEFF Research Database (Denmark)

    Zhang, Chenchen; Lillie, Nathan

    2015-01-01

    There has been an explosion of interest in the idea of European Union citizenship in recent years, as a defining example of postnational cosmopolitan citizenship potentially replacing or layered on top of national citizenships. We argue that this form of EU citizenship undermines industrial...... citizenship in its current ‘postnational’ form is realized through practices of mobility, placing it at tension with bounded class-based collectivities. Though practices of working class cosmopolitanism may eventually give rise to a working class consciousness, the fragmented nature of this vision impedes...

  7. Integration of the North American energy market

    International Nuclear Information System (INIS)

    Lapointe, A.

    2002-07-01

    The US energy policy of President Bush administration proposes to develop a North American energy framework with a greater energy integration between Canada, the USA and Mexico in the respect of the sovereignty of each country. This article tries to evaluate the integration status of the energy sector in Northern America with respect to the North American free-exchange agreement and to the deregulation process observed in the natural gas and electric power sectors. The commercial energy fluxes between Canada, Mexico and the US show that the integration is a reality and that it is in constant progress. This integration is particularly important in the case of Canada and the USA while major constraints remain in Mexico where the property and exploitation of natural resources is a government monopoly. For this reason, Mexico could never exploit the full potentialities of its resources and suffers from a chronical under-investment in its energy infrastructures which limits the energy trade. Despite this, there is a strong will from the Mexican authorities to ensure the modernization of its energy sector and to contribute more to the integration process of the north American energy market. A series of reforms, and in particular the fiscal reform started by the government should reduce the excessive dependence of the government incomes with the dividends from the energy sector. This should allow the different government companies to reinvest more its benefits in order to improve the existing infrastructures and to increase the capacities (in particular in the gas and electricity sectors). Finally, the recent will of the government to open the gas sector should allow the development of this energy source. (J.S.)

  8. On market integration of renewable energies

    Energy Technology Data Exchange (ETDEWEB)

    Schroeer, Sebastian

    2014-12-05

    Since the liberalization of electricity and gas markets in Europe, the energy sector has changed in every respect with one constant: most actors have underestimated renewable energies with regard to their growth, their economies of scale and their impact on existing energy markets. If that trend continues, the urgency for policy measures will increase. Given the security of supply, integration of renewables into energy markets is necessary to replace fossil and nuclear capacities. However, the further development of renewable energies plays a crucial role in the ability to meet the energy and climate policy targets. Thus, it increases the need for regulation to achieve societally desirable outcomes. This thesis has examined the effects of renewable energies on existing energy markets. It has also investigated the various other cost-efficient options that policy makers have in striving to reach energy and climate policy targets. We assumed that cost efficiency is a relevant side condition. In the past, this has not always been the case. Today, cost efficiency is definitely relevant and might also be an essential target in the future (see Bundesregierung 2013, p. 50). We contributed to the analysis of power prices as a result of increasing shares of renewables by showing that shutting down conventional capacities will have a merit order effect. This is necessary if renewable energies are to replace fossil and nuclear capacities. Any discussion of a change of market design should make mention of this effect, since spot market revenues impact a company's behaviour within potential capacity markets. From a consumer perspective, we have shown that there is a substantial need for secured capacity with low marginal costs to keep spot prices stable. This outcome has important implications for policy makers if they are to provide consumers with low-cost renewable market integration. Policy makers have numerous ways to reach policy targets than rapidly expanding

  9. On market integration of renewable energies

    International Nuclear Information System (INIS)

    Schroeer, Sebastian

    2014-01-01

    Since the liberalization of electricity and gas markets in Europe, the energy sector has changed in every respect with one constant: most actors have underestimated renewable energies with regard to their growth, their economies of scale and their impact on existing energy markets. If that trend continues, the urgency for policy measures will increase. Given the security of supply, integration of renewables into energy markets is necessary to replace fossil and nuclear capacities. However, the further development of renewable energies plays a crucial role in the ability to meet the energy and climate policy targets. Thus, it increases the need for regulation to achieve societally desirable outcomes. This thesis has examined the effects of renewable energies on existing energy markets. It has also investigated the various other cost-efficient options that policy makers have in striving to reach energy and climate policy targets. We assumed that cost efficiency is a relevant side condition. In the past, this has not always been the case. Today, cost efficiency is definitely relevant and might also be an essential target in the future (see Bundesregierung 2013, p. 50). We contributed to the analysis of power prices as a result of increasing shares of renewables by showing that shutting down conventional capacities will have a merit order effect. This is necessary if renewable energies are to replace fossil and nuclear capacities. Any discussion of a change of market design should make mention of this effect, since spot market revenues impact a company's behaviour within potential capacity markets. From a consumer perspective, we have shown that there is a substantial need for secured capacity with low marginal costs to keep spot prices stable. This outcome has important implications for policy makers if they are to provide consumers with low-cost renewable market integration. Policy makers have numerous ways to reach policy targets than rapidly expanding

  10. Increased competition on the supply side of the Western European natural gas market

    International Nuclear Information System (INIS)

    Golombek, R.; Gjelsvik, E.; Rosendahl, K.E.

    1998-01-01

    This paper analyzes how the supply side of the Western European natural gas market may react if the demand side becomes competitive. The authors show--using a numerical model of the Western European natural gas market--that once the demand side of the market is liberalized, each gas-producing country has an incentive to break up its gas sellers. The model therefore suggests that there may be numerous producers in a liberalized natural gas market. Hence, in a liberalized market consumers will not be exploited by suppliers

  11. Th european market of the electric power; Le marche europeen de l'electricite

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-07-01

    This document presents the CRE (commission of the Electric power Control) progress report concerning the first july 2000 to the 30 june 2001. Three main subjects are discussed, illustrated by economic data and graphs: the electric power european market, the french market control and the CRE. A special interest is given to the deregulation of the market and its consequences. (A.L.B.)

  12. Th european market of the electric power; Le marche europeen de l'electricite

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-07-01

    This document presents the CRE (commission of the Electric power Control) progress report concerning the first july 2000 to the 30 june 2001. Three main subjects are discussed, illustrated by economic data and graphs: the electric power european market, the french market control and the CRE. A special interest is given to the deregulation of the market and its consequences. (A.L.B.)

  13. Intercultural aspects and success factors of European companies entering the Indian market

    OpenAIRE

    Pilný, Ondřej

    2015-01-01

    This bachelor thesis focuses on the Intercultural aspects and success factors of European companies entering the Indian market. Its main objective is to evaluate Intercultural aspects and success factors. Partial aims are to evaluate attractive-ness of chosen emerging segments in Indian market. Analyse external business environment in India. Recommend market entry strategy, business communica-tion and Intercultural management.

  14. A new era of European Integration?

    DEFF Research Database (Denmark)

    de la Porte, Caroline; Heins, Elke

    2015-01-01

    . On this basis, we show first that new instruments - the Six-Pack, Fiscal Compact and Two-Pack - have been layered onto the existing institutional framework governing the Economic and Monetary Union (EMU). Furthermore, we show that the instruments strengthening budgetary discipline to improve the functioning...... of European Monetary Union have become more explicit in terms of policy objectives, particularly specifying new benchmarks to obtain fiscal discipline. They are also stricter in terms of surveillance and enforcement. Second, we show that there are initiatives to address and improve the social dimension...... of the EU - Europe 2020, the Social Investment Package and the Youth Guarantee - and that these have also emerged through a process of institutional layering. However, the aims around Europe 2020 and Social Investment continue to be based on the voluntary Open Method of Coordination, with comparatively weak...

  15. Commercial Aquaponics Approaching the European Market: To Consumers’ Perceptions of Aquaponics Products in Europe

    Directory of Open Access Journals (Sweden)

    Vesna Miličić

    2017-01-01

    Full Text Available The first commercial aquaponics companies are starting up in Europe. The main focus has been on solving technology issues and optimizing production. However, increasing attention is now being paid to certification and regulations linked to aquaponics, as well as the marketing of products and services. The paper presents the results of a study whose main aim was to estimate consumers’ knowledge about aquaponics and their acceptance of aquaponics products in different European regions. An on-line questionnaire was administered to the general public through the aquaponics network of Food and Agriculture COST (European Cooperation in Science and Technology Action FA1305 “The EU Aquaponics Hub—Realising Sustainable Integrated Fish and Vegetable Production for the EU” in 16 European countries. The methodology includes univariate and multivariate statistical techniques. The results show that, on average, attitudes towards aquaponics were positive, showing no significant differences between those who already knew about aquaponics and those who only heard about it through the survey. More than 50% of respondents had never heard of aquaponics, whilst more than 70% had already heard of hydroponics. No more than 17% of respondents were willing to pay more for aquaponically produced products and no more than 40% more when compared to the price of products from conventional farming. The results confirm three different clusters of potential consumers of aquaponics products. They also suggest an urgent need for implementing integrated and holistic approaches involving all stakeholders in aquaponics, in order to define a marketing plan and efficient communication strategies. This COST action, other projects and public decision makers must invest in educating consumers about aquaponics through the organization of guided tours, thematic workshops and tastings of aquaponics products in order to raise their awareness about this new technology. It is

  16. The Balkans: Between Economic Crisis And European Integration

    Directory of Open Access Journals (Sweden)

    Andrei RĂDULESCU

    2012-06-01

    Full Text Available The Balkans region (also known as the „Powder keg of Europe” has always been an European question, a Western question, as underlined by Arnold Toynbee, in 1922. At present, European Union is confronted with the fifth enlargement, also known as the “post-conflict” enlargement – the integration of Balkan states. Bulgaria joined European Union in 2007. Croatia signed the Accession Treaty in 2011 and is expected to become an EU member in 2013. The other countries encounter in different stages of European integration. However, this process presents several challenges and dilemmas, either for European Union, or for the Balkan enclave. The main challenge in the case of this enlargement is to reconcile the nation-state building and the European integration. From the economic point of view, the Balkans region is underdeveloped. Several factors determined this stance of the region: the poor endowment in terms of natural resources, the political situation over the centuries (the military conflicts – impeding the economic development, the cultural factors. At present, the region is confronted with the consequences of the worst economic and financial crisis o global economy since the end of World War II.

  17. Research network on capital markets and financial integration in Europe : results and experience after two years

    OpenAIRE

    European Central Bank ; Center for Financial Studies (CFS)

    2008-01-01

    In April 2002 the European Central Bank (ECB) and the Center for Financial Studies (CFS) launched the ECB-CFS Research Network to promote research on “Capital Markets and Financial Integration in Europe”. The ECB-CFS research network aims at stimulating top-level and policy-relevant research, significantly contributing to the understanding of the current and future structure and integration of the financial system in Europe and its international linkages with the United States and Japan. This...

  18. Financial Contagion in the BRICS Stock Markets: An empirical analysis of the Lehman Brothers Collapse and European Sovereign Debt Crisis

    Directory of Open Access Journals (Sweden)

    DIRCEU PEREIRA

    2018-01-01

    Full Text Available This research analyzes and extends the study of contagion for BRICS emerging stock markets in the context of the last two international financial crises: the Lehman Brothers Bankruptcy Crisis and the European Sovereign Debt Crisis. We investigate changes in the relationship and the co-movements between BRICS markets in response to international shocks that are originated in advanced markets like USA and Europe. Employing data of daily stock market indices of BRICS countries, this research tests for contagion, examining the interactions and characteristics of price movements of BRICS stock markets by applying cointegration, causality and VECM/Gonzalo-Granger statistic and variance decomposition methodology on stock returns as a measure of perceived country risk. The results exhibit that both long-run and short-run relationships patterns exist between BRICS stock markets and have drastically changed during turbulent periods compared with tranquil period, pointing towards the occurrence of contagion phenomenon among BRICS markets during the last two crises. These findings also indicate that changes in the USA and the Euro Zone indices affect BRICS stock markets in the short-run, acting as a leading indicator for investing in BRICS markets. Also imply an increasing degree of global market integration, bringing major implications for portfolio diversification and policy makers.

  19. Market integration of Virtual Power Plants

    DEFF Research Database (Denmark)

    Petersen, Mette Kirschmeyer; Hansen, Lars Henrik; Bendtsen, Jan Dimon

    2013-01-01

    develop a three stage market model, which includes Day-Ahead (Spot), Intra-Day and Regulating Power Markets. This allows us to test the hypothesis that the Virtual Power Plant can generate additional profit by trading across several markets. We find that even though profits do increase as more markets...

  20. European Union energy policy integration: A case of European Commission policy entrepreneurship and increasing supranationalism

    International Nuclear Information System (INIS)

    Maltby, Tomas

    2013-01-01

    Focusing on gas, this article explores the role of the European Commission in the process of European Union energy security policy development, and the extent to which the policy area is becoming increasingly supranational. Situating the article within the literature on agenda-setting and framing, it is argued that a policy window was opened as a result of: enlargement to include more energy import dependent states, a trend of increasing energy imports and prices, and gas supply disruptions. From the mid-2000s, the Commission contributed to a shift in political norms, successfully framing import dependency as a problem requiring an EU-level solution, based on the institution’s pre-existing preferences for a diversified energy supply and internal energy market. Whilst Member States retain significant sovereignty, the Commission has achieved since 2006 creeping competencies in the internal, and to a lesser extent external, dimensions of EU energy policy. - Highlights: ► We examine the development of EU energy security policy, focusing on gas. ► We examine changes in European Commission competence in energy policy. ► The European Commission has gained increased competence in the internal market. ► In the external dimension of EU energy policy Member States retain competence. ► The European Commission has had qualified success as a policy entrepreneur

  1. Co-Movements Of U.S. And European Stock Markets Before And After The 2008 Gloal Stock Market Crash

    Directory of Open Access Journals (Sweden)

    Meric Ilhan

    2015-08-01

    Full Text Available Empirical studies show that correlation between national stock markets increased and the benefits of global portfolio diversification decreased significantly after the global stock market crash of 1987. The 1987 and 2008 crashes are the two most important global stock market crashes since the 1929 Great depression. Although the effects of the 1987 crash on the comovements of national stock markets have been investigated extensively, the effects of the 2008 crash have not been studied sufficiently. In this paper we study this issue with a research sample that includes the U.S stock market and twenty European stock markets. We find that correlation between the twenty-one stock markets increased and the benefits of portfolio diversification decreased significantly after the 2008 stock market crash.

  2. Market integration of cold and warmwater shrimp in Europe

    DEFF Research Database (Denmark)

    Ankamah-Yeboah, Isaac; Ståhl, Lisa; Nielsen, Max

    2017-01-01

    ) holds in three of the five cases. For processed shrimp, the LOP holds in three of four integrated cases, and for retail sales in the UK and Denmark, the LOP fails to hold in the presence of market integration. Unprocessed coldwater shrimp leads the market in northern Europe. Downstream, prices adjust......This study examines market integration between the cold and warmwater shrimp value chain in the UK, Denmark, Italy, Sweden, and Norway using cointegration methods. For all countries, market integration exists between cold and warmwater unprocessed shrimp imports, where the law of one price (LOP...

  3. International Product Market Integration, Rents and Wage Formation

    DEFF Research Database (Denmark)

    Sørensen, Allan

    including product market rents and the possibility that jobs may be relocated across national labour markets. Possibilities and threats, however, will not in general be uniformly distributed across firms and therefore groups in the labour market. These issues are explored in a Ricardian trade model......International product market integration enhances both export possibilities through easier access to foreign markets, but also the import threat arising from foreign firms penetrating into the domestic market. These mechanisms affect wage formation and employment creation through many channels...... with imperfect competition, heterogeneity in the labour market, and decentralized wage-bargaining. The Paper analyses how product market integration affects wage formation, and identifies characteristics of winners and losers in the integration process....

  4. HISTORY AND CRITERIA OF THE EUROPEAN MONETARY INTEGRATION

    Directory of Open Access Journals (Sweden)

    Dorel Dumitru Chiriţescu

    2013-04-01

    Full Text Available The Romanian economy missed the transition to the euro, as authorities had planned originally for 2015. There is a pronounced economic and political context unfavorable underlined by the economic crisis from 2008. A new project that politics and NBR build and pursue in practical application is required. The history of European integration is, ultimately, the history of compatibility between European economies and societies. The single currency is the final point of these efforts. Only by knowing this history we can act effectively to meet the standards of economic and monetary integration.

  5. A Sociology of Knowledge Approach to European Integration

    DEFF Research Database (Denmark)

    Adler-Nissen, Rebecca; Kropp, Kristoffer

    2015-01-01

    Scholars are deeply involved in the process of European integration, but we lack systematic understanding of this involvement. On the one hand, scholars, academic ideas and ideologies shape European integration and policies (e.g. the Economic and Monetary Union and the free movement of people......). On the other hand, EU institutions, policies and practitioners produce particular forms of knowledge (e.g. the Eurobarometer and benchmarking of national performances) that inform social scientific choices of theories, methods and research topics. Drawing on the new sociology of knowledge as well as Science...

  6. The liberalization of the European gas market and its consequences for Russia

    International Nuclear Information System (INIS)

    Finon, D.; Locatelli, C.

    2002-01-01

    Russia is the world biggest natural gas producer, with output of 581 bn m 3 in 2001, and is also a key supplier of the European gas market (around 30% of current European Union gas imports). Therefore gas exports rank with oil exports as an essential variable of Russian economic policy, and any institutional evolution of its gas export markets is crucial for Russia's economy as well as its gas industry. Liberalization of the European gas market will have major consequences for main suppliers, and therefore for Russia. (author)

  7. The liberalization of the European gas market and its consequences for Russia

    Energy Technology Data Exchange (ETDEWEB)

    Finon, D.; Locatelli, C

    2002-07-01

    Russia is the world biggest natural gas producer, with output of 581 bn m{sup 3} in 2001, and is also a key supplier of the European gas market (around 30% of current European Union gas imports). Therefore gas exports rank with oil exports as an essential variable of Russian economic policy, and any institutional evolution of its gas export markets is crucial for Russia's economy as well as its gas industry. Liberalization of the European gas market will have major consequences for main suppliers, and therefore for Russia. (author)

  8. European Energy Markets Deregulation Observatory (EEMDO). Fourth Edition. Winter 2002/2003 data set

    International Nuclear Information System (INIS)

    2003-10-01

    In this research publication (European Energy Markets Deregulation Observatory or EEMDO) the levels of deregulation across 17 European countries are assessed. Based upon publicly available quantitative data, analysed and commented, EEMDO provides an accurate overview of European energy markets. Short-term indicators such as liquidity, market volatility, fragmentation, availability of the offer or nature of the demand as well as long-term indicators such as present and future market impacts relative to generation and physical transportation capacities have been examined to provide a clearer picture of the electricity industry across Europe. The 4th edition of EEMDO covers the winter 2002/2003 period (October 2002 - March 2003), when we saw markets entering maturity as factors other than competition start to drive prices. In this edition attention is paid to the evolution of the main indicators designed for EEMDO and for the first time, gas data are included in addition to the traditional data on the electricity market

  9. Analysis of stock market returns of American and European stock market from the view of an American and a European investor

    Directory of Open Access Journals (Sweden)

    Oldřich Šoba

    2005-01-01

    Full Text Available The paper is focused on the analysis of stock market returns of American and European stock market for different investment horizon from the view of an American and European investor. The paper also partly resumes, in the part of analysis of USD/EUR exchange rate influence on market returns of mentioned stock market, research paper REJNUŠ, O., ŠOBA, O.: Changes in the USD/EUR exchange rate and their impact on the return of stock indexes from the viewpoint of a European and of an American investor. ACTA UNIVERSITATIS AGRICULTURAE ET SILVICULTURAE MENDELIANAE BRU- NENSIS, Vol. LII, No. 6, 2004, pg. 145–159, ISSN 1211-8516.The development of both American and European stock market is put on the development of two, structure-similar Standard & Poor’s exchange indexes, particularly S&P 500 and S&P Europe 350. According to the USD/EUR exchange rate, there were used the values published by FED, with the oldest data there were accepted the count ECU to EUR. The data were taken both from the weekly closing values of mentioned stock indexes and weekly closing values of USD/EUR exchange rate.The analysis was done with using the methods of quantification of „running market returns“ (recount to the average annual values of indexes from the view of both investors within the set investment horizon. The elemental statistical level characteristic – simple average, median and statistical characteristic of variability – standard deviation and variation coefficient were quantified from this time series of annual running market returns. The analysis, which was purposely oriented to six basic different long investment horizon (1 year, 2 years, 3 years, 5 years, 7 years, 10 years, has approved that in focused term of 1980–2004 the market returns of picked stock market from the view of both investors (American and European was generally higher in longer investment horizon than in the shorter investment horizon. The values of variation coefficient in

  10. City Marketing: Towards an Integrated Approach

    OpenAIRE

    Braun, Erik

    2008-01-01

    textabstractThis PhD thesis deals with city marketing: cities making use of marketing ideas, concepts and tools. Marketing has proved its value in the business environment, but what about applying marketing in the context of cities? How can cities make effective use of the potential of marketing? The first contribution of this study is the development of a clear concept of city marketing that is based on a customer-oriented perspective, acknowledges the important of perceptions of places in t...

  11. Germany's nuclear power plant closures and the integration of electricity markets in Europe

    International Nuclear Information System (INIS)

    Menezes, Lilian M. de; Houllier, Melanie A.

    2015-01-01

    This paper examines the potential implications of national policies that lead to a sudden increase of wind power in the electricity mix for interconnected European electricity markets. More specifically, it examines market integration before and after the closures of eight nuclear power plants that occurred within a period of a few months in Germany during 2011. The short- and- long run interrelationships of daily electricity spot prices, from November 2009 to October 2012, in: APX-ENDEX, BELPEX, EPEX-DE, EPEX-FR, NORDPOOL, OMEL and SWISSIX; and wind power in the German system are analysed. Two MGARCH (Multivariate Generalized Autoregressive Conditional Heteroscedasticity) models with dynamic correlations are used to assess spot market behaviour in the short run, and a fractional cointegration analysis is conducted to investigate changes in the long-run behaviour of electricity spot prices. Results show: positive time-varying correlations between spot prices in markets with substantial shared interconnector capacity; a negative association between wind power penetration in Germany and electricity spot prices in the German and neighbouring markets; and, for most markets, a decreasing speed in mean reversion. -- Highlights: •Associations between spot prices and wind power are time-varying. •Greater spot price and volatility associations across markets are observed. •In the long run, the German market is less integrated with neighbouring markets. •Policies on a local electricity mix can affect spot prices in connected markets

  12. A snapshot of the European energy service market in 2010 and policy recommendations to foster a further market development

    International Nuclear Information System (INIS)

    Marino, Angelica; Bertoldi, Paolo; Rezessy, Silvia; Boza-Kiss, Benigna

    2011-01-01

    As of 2010, the energy service market in Europe is still far from utilising its full potential. Wide-scale peer-reviewed studies investigating the development and up-to-date status of the European ESCo market are scarce. This article presents a comprehensive insight of the European ESCo industry based on the results from a large-scale survey carried out 2009-2010 in 39 European countries. The observed market development during the period 2007-2010, trends in business practices, and factors influencing the ESCo industry evolution are described. Finally, having considered the remaining barriers and the supporting factors as well as the successful experiences in Europe, policy measures that could further promote ESCo activities are proposed. - Highlights: → ESCo markets in Europe continue to show diverse stages of development. → Between 2007 and 2010 the European ESCo market underwent a slow growth. → European states have introduced favourable legislative framework for energy conservation. → Loan guarantees recognising the ESCo contractual model increase the access to finance. → Establishment of quality standards and certification schemes for ESCos are essential.

  13. From the ecological niche to the mass market with 'Green Power Marketing' - 1st European Conference on Green Power Marketing 2001

    International Nuclear Information System (INIS)

    2001-01-01

    This report summarises the information presented at the European Conference on Green Power Marketing held in 2001 in St. Moritz, Switzerland. It takes a look at the market chances of ecologically produced electricity for use in Switzerland and for export. The opinions of experts from the areas of research, business, politics, marketing and non-governmental organisations that were presented at the meeting are summarised. European perspectives and trends in the USA are discussed and examples of green power marketing in the USA and Holland are given. Marketing issues and price policies are discussed, as are labelling strategies and customer perception of 'Green Power' issues. Also, sales issues including e-marketing, power-market rules and certificate trading are dealt with

  14. Interrelations between Gender, Diversity, and European Integration

    DEFF Research Database (Denmark)

    Pristed Nielsen, Helene; Mokre, Monika

    respondents’ conception of diversity, we focus particularly on how they articulate their notions of gender equality in connection with diversity. This is done both because the Eurosphere data contains comprehensive information about respondents’ conceptions of both, but also because gender serves......The empirical question we want to address in this paper is two-fold. First, while we as social scientists may consider diversity a complex phenomenon, where multiple identifications are likely to co-exist and overlap, how do opinion makers within Europe conceive of and speak about diversity......? Specifically, we assess to what extent they show awareness of the possibilities for multiple co-existing identifications. Secondly, building from the basis of conceptions of diversity, what are the future prospects for complex diversity in a Europe becoming increasingly integrated? As a part of assessing...

  15. Electricity market models and RES integration: The Greek case

    International Nuclear Information System (INIS)

    Simoglou, Christos K.; Biskas, Pandelis N.; Vagropoulos, Stylianos I.; Bakirtzis, Anastasios G.

    2014-01-01

    This paper presents an extensive analysis of the Greek electricity market for the next 7-year period (2014–2020) based on an hour-by-hour simulation considering five different RES technologies, namely wind, PV, small hydro, biomass and CHP with emphasis on PV integration. The impact of RES penetration on the electricity market operation is evaluated under two different models regarding the organization of the Greek wholesale day-ahead electricity market: a mandatory power pool for year 2014 (current market design) and a power exchange for the period 2015–2020 (Target Model). An integrated software tool is used for the simulation of the current and the future day-ahead market clearing algorithm of the Greek wholesale electricity market. Simulation results indicate the impact of the anticipated large-scale RES integration, in conjunction with each market model, on specific indicators of the Greek electricity market in the long-term. - Highlights: • Analysis of the Greek electricity market for the next 7-year period (2014–2020) based on hour-by-hour simulation. • Five different RES technologies are considered with emphasis on PV integration. • A power pool (for 2014) and a power exchange (for 2015–2020) are considered. • Various market indicators are used for the analysis of the impact of the RES integration on the Greek electricity market. • Two alternative tariff schemes for the compensation of the new ground-mounted PV units from 2015 onwards are investigated

  16. Business Analytics in the Marketing Curriculum: A Call for Integration

    Science.gov (United States)

    Mintu-Wimsatt, Alma; Lozada, Héctor R.

    2018-01-01

    Marketing education has responded, to some extent, to the academic challenges emanating from the Big Data revolution. To provide a forum to specifically discuss how business analytics has been integrated into the marketing curriculum, we developed a Special Issue for "Marketing Education Review." We start with a call to action that…

  17. Integrating rather than juxtaposing environmental policy and the internal market

    NARCIS (Netherlands)

    Vedder, Hans; Koutrakos, Panos; Snell, Jukka

    2017-01-01

    This contribution to the research handbook on the internal market describes and analyses the case law on environmental measures that impact the internal market and notably the free movement of goods. It argues that an integration may be better for both environmental protection and market

  18. MASCEM: EPEX SPOT Day-Ahead market integration and simulation

    DEFF Research Database (Denmark)

    Santos, Gabriel; Fernandes, Ricardo; Pinto, Tiago

    2015-01-01

    . It is crucial to MASCEM to have the ability to simulate as many market models and player types as possible, thus enhancing the ability to recreate the electricity markets reality in its maximum possible extent. This paper presents the EPEX Spot Day-Ahead market integration in MASCEM. EPEX Spot SE's mission...

  19. Integrated marketing communications and their role in economy and education

    OpenAIRE

    Melnikova Nadezhda; Naumenko Tamara; Smakotina Natalia

    2016-01-01

    The article is devoted to the analysis of marketing, its role and significance in the modern education system and economy. The authors review the advantages of integrated marketing communications which include, apart from marketing, organizational culture, advertising, public relations (PR), branding, image making and other types of communication influencing the formation and functions of social processes and institutions, including the economic and education sphere.

  20. The legacy of legal culture and Serbia's European integration

    Directory of Open Access Journals (Sweden)

    Kovačević Slaviša

    2014-01-01

    the public interest is defined and normatively framed in line with these interests, there are diverse quasi-techniques which reflect the arbitrary application of law. The recent state-building legal history is characterized by a prominent legal discontinuity, which has two forms of expression: first, legal discontinuity is a result of frequent changes of different and often conflicting socio-political systems of government, which are necessarily accompanied by respective changes in the positive legislation; second, discontinuity may also be a result of frequent legislative changes within a specific type of legal system. Such practices give rise to contradictions and polarizations in the legal culture and legal socialization. The common feature of all legal systems (thus far is the problem of applying the law, or the applicability of the normative framework. The normative legal tradition is not accompanied by the consistent factual application of the envisaged norms. Frequently, there is a prominent incongruity between the norm and the actual state of affairs. In addition to undermining the important function of law, this phenomenon shows the prevalence of traditional legal heritage in Serbian social relations. In comparison to transition countries which have meanwhile been integrated into the European Union, the Serbian society is poverty-stricken, economically devastated, inadequately structured in terms of public/private interests, normatively underdeveloped and value-barren; as such, it is difficult to administer and hard to change. The heritage of socio-economic relations slows down the reception of the liberal-democratic system and the adjustment to the model of competitive market economy. The former model of irrational authority of a powerful leader and a single-party system has been transformed into the party-state system (partocracy involving the dominant role of the authoritarian party leadership, which slows down the development of independent, autonomous

  1. European Universities' Guidance on Research Integrity and Misconduct.

    Science.gov (United States)

    Aubert Bonn, Noémie; Godecharle, Simon; Dierickx, Kris

    2017-02-01

    Research integrity is imperative to good science. Nonetheless, many countries and institutions develop their own integrity guidance, thereby risking incompatibilities with guidance of collaborating institutions. We retrieved guidance for academic integrity and misconduct of 18 universities from 10 European countries and investigated accessibility, general content, principles endorsed, and definitions of misconduct. Accessibility and content differ substantially between institutions. There are general trends of common principles of integrity and definitions of misconduct, yet differences remain. Parallel with previous research, we distinguish different approaches in integrity guidance; one emphasizes broad values of integrity, and the other details negative behaviors of misconduct. We propose that a balance between both approaches is necessary to preserve trust, meaning, and realism of guidance on research integrity.

  2. The Direct Results of Integrated Marketing

    Science.gov (United States)

    Sevier, Robert A.

    2004-01-01

    Discussions among college and university administrators on improving marketing efforts often revolve around questions about whether the marketing function should be centralized or decentralized. An impetus of these discussions is the increased marketing sophistication of many boards. Many trustees are strongly urging their institutions to apply…

  3. European water law in transition: the challenge of integration

    NARCIS (Netherlands)

    Rijswick, H.F.M.W. van

    2005-01-01

    European and domestic national water law have witnessed a number of developments, which can be described as the development from a national territorial approach towards a transnational integrated approach. Initially, Dutch water law for example, sought to offer protection against flooding. More

  4. The fundamental determinants of financial integration in the European Union

    NARCIS (Netherlands)

    Lemmen, J.J.G.; Eijffinger, S.C.W.

    1995-01-01

    This paper focuses on the fundamental determinants of the degree of financial integration in the European Union over the period 1973-1993. Using closed interest differentials to measure the intensity of capital controls and applying a panel data approach, we find realized inflation rates, government

  5. Leadership in the Big Bangs of European Integration

    DEFF Research Database (Denmark)

    ? and, more importantly, what factors allowed specific actors to provide leadership in a given context? These conclusions provide a major step forward in the literature on the history-making bargains in the EU, allowing us to answer with more confidence the question of which actors have guided the big...... bangs in the European integration process in the past two decades, and why.  ...

  6. The unknown story of the European carbon market: an archaeology of the electrical sector

    International Nuclear Information System (INIS)

    Cartel, Melodie; Aggeri, Franck; Caneill, Jean-Yves

    2017-01-01

    In economic literature, the creation of the European carbon market is presented as a major institutional innovation that can be viewed as a direct application of economic theory. In this article, we propose another version of how the European carbon market came about that emphasizes the active role played by companies. For a period of three years, these companies designed and tested a prototype carbon market, while being observed by European experts. Drawing on archive documents, we analyze this experimentation process and examine in detail its influence on the European carbon market. We then discuss the role of companies in the processes of institutional innovation, a process that generally remains invisible. Finally it is explained how such experiments, conducted in protected spaces, can facilitate the design and testing of new concepts

  7. Price and Volatility Spillovers across North American, European and Asian Stock Markets: With Special Focus on Indian Stock Market

    OpenAIRE

    Priyanka Singh; Brajesh Kumar; Pandey, Ajay

    2008-01-01

    This paper investigates interdependence of fifteen world indices including an Indian market index in terms of return and volatility spillover effect. Interdependence of Indian stock market with other fourteen world markets in terms of long run integration, short run dependence (return spillover) and volatility spillover are investigated. These markets are that of are Canada, China, France, Germany, Hong-Kong, Indonesia, Japan, Korea, Malaysia, Pakistan, Singapore, Taiwan, United Kingdom and U...

  8. The Underreported Use of Integrated Marketing Communication by Smaller Businesses.

    Science.gov (United States)

    Johnson, Ed

    This research suggests integrated marketing communication (IMC) is widely used by small business. In a survey of Midwest businesses, it was found that smaller business tend to integrate their marketing communication to the same extent as do larger businesses. Their advertising, P.R., and sales promotion are as likely to present a unified message,…

  9. A RESEARCH OF E-BOOK MARKET TRENDS: NORTH AMERICA AND THE EUROPEAN COMMUNITY

    Directory of Open Access Journals (Sweden)

    Andreja Zubac

    2014-09-01

    Full Text Available AbstractPurpose: The aim of this paper is to provide an overview of research on the presence of the electronic book on the book market, its trends and developments as well as point towards the difficulties faced by all professions related to it in the countries of the European Community.Methodology / approach: This paper analyzes the domestic and foreign literature and explores the websites of companies that operate with e-books in order to get an overview of the actual state of business operations in the states mentioned in the text.Results: The emergence of the first online bookstores in the United States in the 20th century paved the way for the electronic book to enter the online market. Today, the e-book is an integral part of publishing, book trade and library activities worldwide. Economic indicators testify to a constant growth of revenues from the sale of electronic books on the book market and technology in the U.S. and Europe. This paper provides an explanation of the term electronic book and indicates the interest of many countries for its acquisition and application in order to keep up with the technological demands of the market.Research restrictions: E-book trends and business operations related to them are constantly changing. In terms of librarianship, this is most visible in public libraries as both one of the customers and as later distributors of e-books to users. In their business, new models constantly emerge together with their combinations and approaches to offering these new media.The originality: The issue of business operations in relation to the e-book is interesting to young people, libraries, publishers, authors, booksellers, etc.Contribution: This paper provides an overview of the most recent situation on the e-book market and can serve as the basis of some future researches.

  10. DYNAMIC OPTIMAL BUDGET ALLOCATION FOR INTEGRATED MARKETING CONSIDERING PERSISTENCE

    OpenAIRE

    SHIZHONG AI; RONG DU; QIYING HU

    2010-01-01

    Aiming at forming dynamic optimal integrated marketing policies, we build a budget allocation model considering both current effects and sustained ones. The model includes multiple time periods and multiple marketing tools which interact through a common resource pool as well as through delayed cross influences on each other's sales, reflecting the nature of "integrated marketing" and its dynamics. In our study, marginal analysis is used to illuminate the structure of optimal policy. We deriv...

  11. YOUNGSTERS INSERTION ON THE LABOUR MARKET. A COMPARATIVE ANALYSIS ROMANIA - EUROPEAN UNION

    Directory of Open Access Journals (Sweden)

    Dobre Mihaela Hrisanta

    2008-05-01

    Full Text Available The insertion of young people into the labor market represents an important issue amongst all the countries within the European Union and this process is studied differently from one country to another. At present the European Union counts about 75 million young people with the age between 15 and 24 years old. This article main objective is to study insertion rate of young people the labour market as well as it deals with their problems.

  12. Business process integration between European manufacturers and transport and logistics service providers

    DEFF Research Database (Denmark)

    Mortensen, Ole; Lemoine, W

    2005-01-01

    The goal of the Supply Chain Management process is to create value for customers, stakeholders and all supply chain members, through the integration of disparate processes like manufacturing flow management, customer service and order fulfillment. However, many firms fail in the path of achieving...... a total integration. This study illustrates, from an empirical point of view, the problems associated to SC integration among European firms operating in global/international markets. The focus is on the relationship between two echelons in the supply chain: manufacturers and their transport and logistics...... service providers (TLSPs). The paper examines (1) the characteristics of the collaborative partnerships established between manufacturers and their TLSPs; (2) to what extent manufacturers and their TLSPs have integrated SC business processes; (3) the IT used to support the SC cooperation and integration...

  13. TradeWind. Integrating wind. Developing Europe's power market for the large-scale integration of wind power. Final report

    Energy Technology Data Exchange (ETDEWEB)

    2009-02-15

    Based on a single European grid and power market system, the TradeWind project explores to what extent large-scale wind power integration challenges could be addressed by reinforcing interconnections between Member States in Europe. Additionally, the project looks at the conditions required for a sound power market design that ensures a cost-effective integration of wind power at EU level. In this way, the study addresses two issues of key importance for the future integration of renewable energy, namely the weak interconnectivity levels between control zones and the inflexibility and fragmented nature of the European power market. Work on critical transmission paths and interconnectors is slow for a variety of reasons including planning and administrative barriers, lack of public acceptance, insufficient economic incentives for TSOs, and the lack of a joint European approach by the key stakeholders. (au)

  14. The opening up to competition of European electricity markets: genesis and perspectives of an ambitious project

    International Nuclear Information System (INIS)

    Pellion, Antoine

    2007-01-01

    This article first describes the European dynamic of the construction of electricity markets. It outlines the economic and competitive logics which are the base of the liberalisation of electricity markets, and do not aim at suppressing a public service. This encompasses the search for an optimal market as economic aim, and an incentive to the opening by community law. It describes the implementation of the liberalisation process with a harmonisation at the European scale, and still different and partitioned markets. It outlines that the expected price decrease did not occur. The electricity pricing is presented as a complex process, and the sustained increase of production costs is outlined. It also outlined that this market has strengthened structural imperfections: a scarcity rent largely accessible to market powers, a strong trend to short term investment behaviour. On the other hand, environmental efficiency has a positive assessment. The next part proposes an overview of possible actions for the development and regulation of European markets: a network to be expanded and densified with better performance and a more competitive market for the benefit of the consumer, a scarcity rent which requires a market framing, a new orientation for the use of this rent. The coordination of electricity production is outlined as a necessary element for a European energy policy

  15. Derivative Market: An Integral Part Of The Zimbabwe Stock Exchange

    OpenAIRE

    Kosmas Njanike

    2010-01-01

    The study assesses the need for a derivative market as an integral of Zimbabwe Stock Exchange. It also aims to evaluate the feasibility of establishing a derivative market as an essential element of Zimbabwe Stock Exchange. The research identifies factors that need to be addressed to facilitate such a market. Views of various fund managers, financial analysts and dealers drawn from asset management firms were used. Changes in market trends are influenced by hyper inflation and acute financial...

  16. The electricity prices in the European Union. The role of renewable energies and regulatory electric market reforms

    International Nuclear Information System (INIS)

    Moreno, Blanca; López, Ana J.; García-Álvarez, María Teresa

    2012-01-01

    The European Union electricity market has been gradually liberalized since 1990s. Theoretically, competitive markets should lead to efficiency gains in the economy thus reducing electricity prices. However, there is a controversial debate about the real effects of the electricity liberalization on electricity prices. Moreover, the increased generation of electricity from renewable energies RES-E (Electricity from Renewable Energy Sources) is also integrated in wholesale market reducing wholesale prices, but the final effect over household prices is not clear. In order to contribute to this debate, this paper provides an empirical investigation into the electricity prices determinants. In fact we develop econometric panel models to explore the relationship between the household electricity prices and variables related to the renewable energy sources and the competition in generation electricity market. More specifically we use a panel data set provided by Eurostat and covering 27 European Union countries during the period 1998–2009. Our results suggest that electricity prices increase with the deployment of RES-E and with the expansion of greenhouse gas emissions produced by energy industries- as a European Union CO 2 emission trading scheme exists. Results also reveal that country's characteristics can affect household electricity prices. -- Highlights: ► Electricity liberalized markets should lead to reduce electricity prices. ► The use of renewable energies (RES) reduce wholesale electricity prices. ► However, household electricity prices are increasing in European Union. ► Panel data models are developed to investigate the effect of RES and electricity competition on household electricity prices. ► We find that the deployment of RES increases prices paid by consumers in a liberalized market.

  17. Factor decomposition and diversification in european corporate bond markets

    NARCIS (Netherlands)

    Pieterse-Bloem, M.; Mahieu, R.J.

    2013-01-01

    In this paper we present an analysis of diversification strategies on portfolios of European corporate bonds. From the perspective of a US-based investor we study whether mean–variance diversification strategies change as a result of the introduction of the European Economic and Monetary Union

  18. Factor decomposition and diversification in European corporate bond markets

    NARCIS (Netherlands)

    Pieterse-Bloem, M.; Mahieu, R.J.

    2013-01-01

    In this paper we present an analysis of diversification strategies on portfolios of European corporate bonds. From the perspective of a US-based investor we study whether mean–variance diversification strategies change as a result of the introduction of the European Economic and Monetary Union

  19. Solidarity and its limits for economic integration in the EU’s internal market

    DEFF Research Database (Denmark)

    Butler, Graham

    2018-01-01

    Solidarity is applicable to multiple strands of Union law, including in the fostering of an internal market. Whereas the internal market has always held constitutional status, the objects that underlie it came about much later. The question of how solidarity, as a principle, value, and concept...... of the internal market, but also for the purposes of economic integration. The article demonstrates that solidarity in law can be a reason or justification for measures to promote the treaty-based aim of the internal market. Yet simultaneously, it finds that solidarity is not an all-encompassing principle, value......, or concept in absolute terms, and has limits for utilisation in the spirit of European integration. Conclusively, by demonstrating the limits of solidarity as a ‘legal’ principle, value, or concept, the article asks whether it is time to reassess the role that solidarity should play in Union law...

  20. The Croatian Strategy of European Integration 2000-2005

    Directory of Open Access Journals (Sweden)

    Mario Sošić

    2005-01-01

    Full Text Available In June 2000, the European Council established that Croatia fulfi lled the conditions for acquiring the status of potential candidate for membership in the European Union.Thereafter, the integration process aimed at the candidature for, and subsequent full membership in the EU has been the fundamental Croatian “governmental strategy” and foreign policy goal, developing with “diff erent speeds” and diff erent levels of success towards the fi nal expected goal. Research is focused on the identifi cation and description of actions of the major foreign and internal actors in the process (Croatian governments and the European Union, as well as on the assessment of the achieved results of their interaction in the sixyear period under observation. The empirically studied phenomenon is analysed through the theoretical approach of actor-based institutionalism and the game theory model. The result of analysis shows a comparative advantage of the management of Ivo Sanader’s single-party government (2003-2005 in contrast to the coalition government of Ivica Račan (2000-2003 with respect to their achievement and level of success in managing the process of European integration.The European Union’s contribution and quality of support to that process are ambiguous and complex, in keeping with its structure and politics.

  1. ASPECTS REGARDING LABOUR MARKET IN ROMANIA AND OTHER EUROPEAN STATES

    Directory of Open Access Journals (Sweden)

    Adrian TĂNASE

    2014-06-01

    Full Text Available This paper aims at analysing the main aspects related to the labour market. It starts by several theoretical aspects in relation with the human capital and labour market, and continues by the investigation of labour productiveness and of unemployment rate, revealing at the same time the correlation between the education level and the insertion to the labour market. Furthermore, a comparative survey is conducted regarding the efficiency of the labour market in Romania and in the other EU countries. The paper ends by forwarding a series of conclusions related to the labour market in Romania, identifying several measures meant to boost the labour market competitiveness in our country. The methods used in the present paper are the interpretative method, the structural-systemic approach, as well as the epistemological method.

  2. Time-Varying Market Integration and Expected Returns in Emerging Markets

    OpenAIRE

    de Jong, Frank; de Roon, Frans

    2001-01-01

    We use a simple model in which the expected returns in emerging markets depend on their systematic risk as measured by their beta relative to the world portfolio as well as on the level of integration in that market. The level of integration is a time-varying variable that depends on the market value of the assets that can be held by domestic investors only versus the market value of the assets that can be traded freely. Our empirical analysis for 30 emerging markets shows that there are stro...

  3. Integration of energy markets with neighbouring countries

    International Nuclear Information System (INIS)

    Mulder, M.; Vermeulen, M.

    2008-01-01

    The Dutch wholesale markets for energy are still hindered by the various bottlenecks, which lead to higher costs for energy consumers than in well operating markets. A more efficient utilization of the import infrastructure could result in savings for energy consumers up to several tens of millions of euros. The managers of the transport infrastructure must take on a more active approach to eliminate these market obstacles. [mk] [nl

  4. Labour Market Integration of young EU Migrant Citizens in Germany and the UK

    DEFF Research Database (Denmark)

    Spreckelsen, Thees; Leschke, Janine; Seeleib-Kaiser, Martin

    This papers examines the quantitative and qualitative labour market integration of recent young EU migrant citizens in Germany and the UK, separately for citizens from Central and Eastern Europe (CEE), Romania and Bulgaria, and Southern European countries. It estimates weighted-proportions from...... market outcomes of all migrants, ignoring a potential double-labour market disadvantage of migrant youth. Routinely, EU migrants’ labour market outcomes are compared for EU-15 and CEE countries, rather than separately and against third country nationals. This paper finds two things:  a high labour force...... participation of young EU migrants  a labour market segmentation for young EU migrant citizen from CEE and Bulgaria, who experience more precarious work in both Germany and the UK....

  5. Increased use of gas in the country: Norway as a part of an European gas market

    International Nuclear Information System (INIS)

    Bjoerndalen, Joergen; Nese, Gjermund

    2005-06-01

    Norwegian authorities want natural gas to be increasingly used in Norway. The development and establishment of a Norwegian market for gas demands large investments in infrastructure. These investments would have to be done with a large uncertainty attached to future gas prices and - volumes in such a market. As a consequence of Norwegian gas participating in an international market many of the frame conditions for the extension of a future internal market for gas would be set by the international development. In this article several factors connected to the market structure and pricing principles in the European gas market are pointed out. The focus is on the historical development and on what is viewed as essential facts in the development of a future European gas market. The development seems firstly to influence the development in the EU work for an internal market for gas through a gradual liberalisation of the national markets. This work has apparently had a reducing effect on the gas prices to the customers in the liberalised parts of the markets. It is however, stressed that the approach of gradual liberalisation may prove to have some negative consequences for the development of efficient competition in the gas markets. Another aspect mentioned is the development towards spot markets for gas the so-called ''gas hubs'' and more short-term competition types. This type of gas trade is expected to more and more replace the traditional long-term take-on-pay-contracts. In reality it would be the prices noted in the ''gas hubs'' that represent the alternative profits for the Norwegian gas producers and therefore mainly would determine the prices on the future internal gas market. Consequently the Norwegian authorities may play a main role in determining the conditions for an increased use of gas in Norway but the price of gas and consequently the extent of such an internal market as to sold gas volume would mainly be determined by the development in the European

  6. Liberalisation versus national protectionism: the European liberalised postal market: finalisation by whom?

    NARCIS (Netherlands)

    Versteegh, L.

    2010-01-01

    The new European Postal Directive of 2008 provides the postal market with new opportunities as it allows for the gradual development of competition of services of general interests in Europe. However, the directive leaves room for uncertainties and the full opening of the postal market is hampered

  7. Absence of a market in the Dutch balancing mechanism: European rules versus specific investments

    NARCIS (Netherlands)

    Niesten, E.M.M.I.; Jolink, A.

    2013-01-01

    The European directives for the electricity industry prescribe the creation of a market for balancing electricity supply and demand. In this paper, we demonstrate that a market for balancing has not emerged in the Dutch electricity industry, and that, instead, the balancing transactions are

  8. Finding uncontested markets for European Fruit and Vegetables through applying the Blue Ocean Strategy

    NARCIS (Netherlands)

    Wubben, E.F.M.; Düsseldorf, S.; Batterink, M.H.

    2012-01-01

    Purpose – The purpose of this paper is to discover an uncontested market space in the European fruit and vegetables industry (EFVI), and thereby assess the ex-ante applicability of the Blue Ocean Strategy of Kim and Mauborgne. Design/methodology/approach – The search for an untapped market space

  9. Pricing Natural Gas. The Outlook for the European Market (Summary)

    International Nuclear Information System (INIS)

    2008-01-01

    Long-term gas supply contracts contain price formulae, in which the gas price is usually linked to the price of another commodity, or to the spot price of gas in a particular market. In continental Europe the gas price in international long-term supply contracts is predominantly linked to oil products. At the same time, spot markets for gas in which gas prices are determined by supply and demand are developing in various EU markets. This paper addresses the question of to what extent the traditional form of oil-based price indexation is sustainable and/or will be sustained by the market players. It discusses the considerations the market players may have in favour of one or the other form of indexation, the external forces that may influence the choice of indexation in the short and longer terms and the consequences of change. It argues that pricing systems are a fundamental part of a market organisation, and that a shift to different pricing structures only happens if and when the main actors are convinced that they understand and accept the consequences of such change. It concludes that there is no strong evidence that the current hybrid situation, in which both forms of gas pricing co-exist, cannot continue. There are also no overriding reasons to intervene in the market practices of price formation. Both systems have their advantages and disadvantages under different market conditions, and to some extent complement each other in the current markets. Different types of risk and the appreciation thereof by the trading parties will determine particular choices of pricing rules and contracting conditions. More importantly, in today's market, in which new supplies are slow to come forward, the choice should be left to the market parties, particularly as sellers and buyers do not seem to be in strong disagreement

  10. An integrated marketing approach for a medium-sized South African airline in a deregulated market

    OpenAIRE

    2012-01-01

    M.Comm. The overall goal of this study is to provide a medium-sized South African airline with the theoretical framework and necessary research and analyses, in developing an integrated marketing approach in a deregulated environment. The objectives of the study are : to analyse the macro and market variables that could impact on the marketing efforts of a medium-sized South African airline. to assess a medium-sized South African airline's marketing efforts (in response to external variabl...

  11. Facility Service Market an European Overview based on EU Statistics

    Directory of Open Access Journals (Sweden)

    Alexander Redlein

    2017-01-01

    Full Text Available The macro-economic impact of facility management and facility services in special was not scientifically analysed by now. Some studies analysed single countries but were mainly lacking solid data. Especially a Pan European comparison is lacking. This paper presents the results of an in depth analysis of the Eurostat figures. It compares the facility service industry with other industries in particular the construction industry. It also compares the largest European economies (Germany, France and Italy. The study concentrates on the outsourced services only, as these are listed in the European Statistics. The results show big differences between the European countries. It also highlights that the facility service industry is the third largest regarding number of employees and the fourth largest regarding value added.

  12. The European Market Abuse Directive : Has it Worked?

    NARCIS (Netherlands)

    Shahzad, Khurram; Mertens, Gerard

    2017-01-01

    In this paper, we examine whether the Market Abuse Directive (MAD) has been effective in achieving its objectives of deterring the market manipulation activities, increasing the timeliness of information and decreasing the disclosure of inside information to select groups. Our sample consists of

  13. Time-varying long term memory in the European Union stock markets

    Science.gov (United States)

    Sensoy, Ahmet; Tabak, Benjamin M.

    2015-10-01

    This paper proposes a new efficiency index to model time-varying inefficiency in stock markets. We focus on European stock markets and show that they have different degrees of time-varying efficiency. We observe that the 2008 global financial crisis has an adverse effect on almost all EU stock markets. However, the Eurozone sovereign debt crisis has a significant adverse effect only on the markets in France, Spain and Greece. For the late members, joining EU does not have a uniform effect on stock market efficiency. Our results have important implications for policy makers, investors, risk managers and academics.

  14. Consumers` Attitude towards Consumer Protection in the Digital Single Market, as Reflected by European Barometers

    Directory of Open Access Journals (Sweden)

    Doru Alexandru Pleşea

    2014-05-01

    Full Text Available The European Single Market is an ongoing project that will continue to further develop and adapt to changing realities. Traditional economic activities, and the administrative rules governing them, face the challenge of adapting to developments that blur the dividing lines, for example, between shop and online sales or between traditional media and Internet communication. Convergence of this type will lead to a European Digital Single Market. A genuine Digital Single Market would generate new types of growth and also sustainable economic and social benefits for all European citizens. There are still a number of barriers which impose obstacles for the development of the digital market in Europe. Obstacles which can be identified include national differences regarding data protection rules, e-commerce rules, consumer protection rules and other legislation pertaining to information flows. The paper brings in discussion the advantages of a Digital Single Market, the obstacles in developing it in connection with e-commerce regulations, consumer protection and information flows legislation and also the premises for implementing a Digital Single Market. Consumers’ trust in on-line commerce results as one of the driving factors in implementing a Digital Single Market. These are some of the main obstacles for the boosting consumers’ confidence in the European Single Market. Improving consumer confidence in cross-border shopping online by taking appropriate policy action could provide a major boost to economic growth in Europe. Empowered and confident consumers can drive forward the European economy. Starting from the results of the Flash Euro-barometer survey „Consumer attitudes towards cross-border trade and consumer protection this study analyzes consumer`s readiness for the European Digital Single Market

  15. Educational Blogging: Integrating Technology into Marketing Experience

    Science.gov (United States)

    Kaplan, Melike Demirbag; Piskin, Burak; Bol, Beste

    2010-01-01

    The major challenge of marketing education is that the discipline continually reinvents itself. Marketing approaches and practices once new rapidly become old and many texts grow outdated in a short period of time, increasing the pressure on the instructors to provide the students with the latest knowledge. The changing environment of business…

  16. Domestic change in the face of European Integration and Globalization

    DEFF Research Database (Denmark)

    Lynggaard, Kennet

    2011-01-01

    epistemological concerns within the Europeanization literature, this in-the-making research agenda is also faced with a number of methodological challenges. This article deals with some of the most pressing methodological challenges we face when conducting empirical research and moving towards more comprehensive...... accounts of domestic change. Drawing on methodologies known from comparative politics and discourse analysis, the article argues in favour of three methodological moves: (1) from top-down towards bottom-up methodological set-ups; (2) from counterfactual analysis towards compound temporal comparative......Before the early 2000s, research on Europeanization and globalization developed largely independently of each other. Since then a limited, yet increasing, number of studies have shown an interest in investigating and differentiating between the domestic implications of European integration - known...

  17. INVESTIGATING FINANCIAL INNOVATION AND EUROPEAN CAPITAL MARKETS. THE CASE OF CATASTROPHE BONDS AND LISTED REINSURANCE COMPANIES

    OpenAIRE

    CONSTANTIN LAURA-GABRIELA; CERNAT-GRUICI BOGDAN; IAMANDI IRINA-EUGENIA

    2014-01-01

    Focusing on the financial innovation – stock market interconnections, the present research studies the association between the insurance-linked market activity of European (re)insurance companies and their evolution on the capital markets. With the aim of emphasizing the connections from the perspective of the stock performance and their risk, the empirical analysis is based on vector autoregression (VAR) and Granger causality analyses. The proposed examination is further develope...

  18. Integrated marketing communication plan : Case company: Dr. Johanna Budwig

    OpenAIRE

    Pham, Van

    2013-01-01

    The study’s research topic is integrated marketing communication and this is a product-oriented thesis. This study is made to create an efficient integrated marketing communication plan for the case company Dr. Johanna Budwig. The main product line in focus is flaxseed oil, which is very healthy and also good in preventing different diseases including cancer. The company home market, Germany, is the target market of the study. The objective set by the company is to increase sales by 10000, wh...

  19. A comprehensive survey on selective breeding programs and seed market in the European aquaculture fish industry

    DEFF Research Database (Denmark)

    Chavanne, Hervé; Janssen, Kasper; Hofherr, Johann

    2016-01-01

    –50 % market share. Only part of the European fish aquaculture industry today fully exploits selective breeding to the best advantage. A larger impact assessment still needs to be made by the remainder, particularly on the market share of fish seed (eggs, larvae or juveniles) and its consequences for hatchery...... of molecular tools is now common in all programs, mainly for pedigree traceability. An increasing number of programs use either genomic or marker-assisted selection. Results related to the seed production market confirmed that for Atlantic salmon there are a few dominant players at the European level, with 30...

  20. THE ROLE OF THE COMPETITION POLICY IN FORGING THE EUROPEAN COMMON MARKET

    Directory of Open Access Journals (Sweden)

    Radu-Cristian Muşetescu

    2008-12-01

    Full Text Available The forging of the Single Market represents the most important dimension of the first pillar of the European Union, which is the European Community. It can be argued that, as compared to the other two pillars (the Common Foreign and Security Policy and the Police and Judicial Cooperation in the Criminal Matters, it has the most powerful impact on the welfare of European citizens. The European policy makers define however the Internal Market as not only an economic area where there are no more state-imposed barriers in the path of the freedom of movement of goods and services at the borders of the member-states but also a single business environment where there are a single currency, coordinated economic policies as well as homogeneous business practices of private undertakings. In this process, despite a large set of common policies, the competition policy has reached the status of the building block of the Common Market.

  1. The EU as a global ecological power: The logics of market integration

    International Nuclear Information System (INIS)

    Laurent, Eloi; Le Cacheux, Jacques

    2010-05-01

    In this paper, we try to show how the EU became a global ecological power, i.e. a power that influences environmental policies throughout the world. While the existing literature stresses the significance of normative power, regulatory politics and multi-level governance in this process, we highlight the importance of what we call the logics of market integration. By that we mean the decisive role of Single market integration in fostering convergence of environmental policies at the European level as well as in extending European influence at the global level. We illustrate our approach with the case of climate policy, detailing the EU's influence on economic instruments developed worldwide to mitigate climate change. (authors)

  2. GASTALE. An oligopolistic model of production and trade in the European gas market

    International Nuclear Information System (INIS)

    Boots, M.G.; Rijkers, F.A.M.; Hobbs, B.F.

    2003-08-01

    The empirical model GASTALE is described and used to analyse the European natural gas market. These analyses focus primarily on the role of the downstream trading companies and their interaction with gas producers. By default, producers of natural gas are assumed to form an oligopoly in the paper. Meanwhile, downstream within-country traders of gas are represented in different versions of the model as local oligopolists or perfect competitors. The model therefore has a two-level structure, in which producers engage in competition a la Cournot, and each producer is a Stackelberg leader with respect to traders, who may be Cournot oligopolists or perfect competitors. The case of Cournot traders results in a new form of energy model, that of successive oligopoly. The model is formulated as a complementarity problem, and is solved by nonlinear programming. Considering this oligopolistic market structure, several tentative conclusions emerge. First, our model results show that successive oligopoly (so-called 'double marginalisation') yields significantly higher prices and lower consumer welfare than if oligopoly exists only on one level. Second, oligopoly in the trading market (because of the high concentration of traders) results in more distortion than oligopoly in production. Third, the level of traders' profits depends on the possibilities of discrimination on the border prices. If price discrimination by producers is allowed, these producers collect a greater share of the margins on end-use prices. Fourth, when the number of traders increases and assuming an oligopolistic downstream structure, end-use prices converge to prices corresponding with perfect competition. Thus, it is important to prevent (or abolish) monopolistic structures in the downstream gas market. In the case where oligopolistic competition among downstream gas companies cannot be prevented, vertical integration should be supported (or at least not be discouraged), especially if it would result in a

  3. Why (and how) to regulate power exchanges in the EU market integration context?

    Energy Technology Data Exchange (ETDEWEB)

    Meeus, Leonardo, E-mail: leonardo.meeus@eui.e [Florence School of Regulation, Robert Schuman Centre for Advanced Studies, European University Institute, Via Boccaccio 151, Florence (Italy); Electrical Engineering Department (ESAT-ELECTA), KULeuven, Kasteelpark Arenberg 10, Heverlee (Belgium)

    2011-03-15

    The European Union (EU) market integration is leading to increasingly monopolistic electricity market infrastructures, which has opened a debate on the regulation of these so-called power exchanges. In this paper, we start by stating that there are two types of power exchanges in Europe, i.e. 'merchant' and 'cost-of-service regulated' power exchanges. We then discuss how regulation can be used to better align their incentives with the main power exchange tasks. We conclude that adopting the cost-of-service regulated model for all power exchanges in Europe could be counterproductive in the current context, but that regulation can help ensure that the benefits of the EU market integration materialize. Promising regulatory actions include tempering the reinforced market power of power exchanges, and quality-of-service regulation for the ongoing cooperation among power exchanges to organize trade across borders. - Research highlights: {yields} Market integration is leading to increasingly monopolistic electricity market infrastructures. {yields} Regulation can help tempering the market power of these so-called power exchanges in Europe. {yields} Cost-of-service regulation for all power exchanges could however be counterproductive. {yields} More promising is to subject cooperation among power exchanges to quality of service regulation.

  4. Why (and how) to regulate power exchanges in the EU market integration context?

    International Nuclear Information System (INIS)

    Meeus, Leonardo

    2011-01-01

    The European Union (EU) market integration is leading to increasingly monopolistic electricity market infrastructures, which has opened a debate on the regulation of these so-called power exchanges. In this paper, we start by stating that there are two types of power exchanges in Europe, i.e. 'merchant' and 'cost-of-service regulated' power exchanges. We then discuss how regulation can be used to better align their incentives with the main power exchange tasks. We conclude that adopting the cost-of-service regulated model for all power exchanges in Europe could be counterproductive in the current context, but that regulation can help ensure that the benefits of the EU market integration materialize. Promising regulatory actions include tempering the reinforced market power of power exchanges, and quality-of-service regulation for the ongoing cooperation among power exchanges to organize trade across borders. - Research highlights: → Market integration is leading to increasingly monopolistic electricity market infrastructures. → Regulation can help tempering the market power of these so-called power exchanges in Europe. → Cost-of-service regulation for all power exchanges could however be counterproductive. → More promising is to subject cooperation among power exchanges to quality of service regulation.

  5. Integration of Government Bond Market in the Euro Area and Monetary Policy

    Directory of Open Access Journals (Sweden)

    Lukić Velimir

    2016-01-01

    Full Text Available This paper combines analysis of evolution in euro area government bond market integration and interference of European Central Bank with functioning of respective market recently. Since the introduction of euro, government bond yields converged in the euro area, bonds of different countries have become close substitutes in the perception of investors, and overall integration of the market was rather high. At the end of 2008, dramatic shift occurred and ever since disintegrative forces were set in motion. The paper presents the following measures of integration of the government bond markets: yield spreads, dispersion in yield spreads and beta coefficient. All three measures suggest unprecedented market disintegration as of 2010. The paper highlighted relevance of sovereign bond market for the smooth functioning of the monetary policy transmission mechanism in a monetary union context. Three ECB’s programmes aimed at sovereign debt crisis resolution were analysed in details. They proved successful in lowering peripheral countries’ yields and spreads, and calming the markets. If one takes central bank function of the lender of last resort for banks, then these programmes may be viewed as the “buyer of last resort” device for government bonds. Although warranted by exceptional circumstances and need for swift response, a due caution should be paid to these programmes since they pose certain challenges for conduct of monetary policy and might even have unintended consequences.

  6. European integration and cooperation, basic vectors of European space of freedom, security and justice

    Directory of Open Access Journals (Sweden)

    Ion Balaceanu

    2013-03-01

    Full Text Available European integration and cooperation, basic vectors of European space of freedom, security and justiceAbstract: The European countries joining to the Schengen area had the effect elimination of internal border controls between Schengen member countries, that use permenent provisions of the Schengen acquis, being a single external border where operational checks are carried out according to a set of clear rules on immigration, visas, the asylum, as well as some decisions concerning police cooperation, judicial or customs. This means that the border crossing can be made at any time through many places, and citizens of member countries who are traveling in the Schengen area must present a valid ID. Overcoming internal border can be equated with a journey through the country.

  7. Creating a marketing channels strategy for European market entry: a case study for eloSpaces Oy

    OpenAIRE

    Babanina, Daria

    2016-01-01

    This thesis is produced as a case study for eloSpaces, Finnish-Chinese startup company based in Espoo, Finland. eloSpaces develops a unique capsule for people to do the focus work and enjoy privacy. The home market for eloSpaces is China and their current aim is to enter also European market in the nearest future. Therefore, the main objective for thesis was to identify the shortest and most efficient market entry strategy for the full product launch in Europe with highest impact on profits. ...

  8. European integration in crisis? Of supranational integration, hegemonic projects and domestic politics

    Science.gov (United States)

    Bulmer, Simon; Joseph, Jonathan

    2015-01-01

    The European Union is facing multiple challenges. Departing from mainstream theory, this article adopts a fresh approach to understanding integration. It does so by taking two theoretical steps. The first introduces the structure–agency debate in order to make explicit the relationship between macro-structures, the institutional arrangements at European Union level and agency. The second proposes that the state of integration should be understood as the outcome of contestation between competing hegemonic projects that derive from underlying social processes and that find their primary expression in domestic politics. These two steps facilitate an analysis of the key areas of contestation in the contemporary European Union, illustrated by an exploration of the current crisis in the European Union, and open up the development of an alternative, critical, theory of integration. PMID:29708125

  9. The European market of the wind energy and its perspectives

    International Nuclear Information System (INIS)

    Heddebaud, D.

    2005-01-01

    This study presents a whole panorama of the wind energy market and its perspectives. It proposes an analysis of the strategical place of the main manufacturers and operators and presents the activities, the key data and the development strategies of 14 wind power market operators. It aims to answer the following questions: What are the new possibilities for the mature markets? What will be the impact of the offshore wind power? What is the future of the independent manufacturers and of the industrialists? (A.L.B.)

  10. a European Global Navigation Satellite System — the German Market and Value Adding Chain Effects

    Science.gov (United States)

    Vollerthun, A.; Wieser, M.

    2002-03-01

    Since Europe is considering to establish a "market-driven" European Global Navigation Satellite System, the German Center of Aerospace initiated a market research to justify a German investment in such a European project. The market research performed included the following market segments: aviation, railway, road traffic, shipping, surveying, farming, military, space applications, leisure, and sport. In these market segments, the forementioned inputs were determined for satellite navigation hardware (receivers) as well as satellite navigation services. The forecast period was from year 2007 to 2017. For the considered period, the market amounts to a total of DM 83.0 billion (approx. US $50 billion), whereas the satellite navigation equipment market makes up DM 39.8 billion, and charges for value-added-services amount to DM 43.2 billion. On closer examination road traffic can be identified as the dominant market share, both in the receiver-market and service-market. With a share of 96% for receivers and 73% for services the significance of the road traffic segment becomes obvious. The second part of this paper investigates the effects the market potential has on the Value-Adding-Chain. Therefore, all participants in the Value-Adding-Chain are identified, using industrial cost structure models the employment effect is analyzed, and possible tax revenues for the state are examined.

  11. Financial integration of stock markets among new EU member states and the euro area

    Czech Academy of Sciences Publication Activity Database

    Babetskii, Ian; Komárek, L.; Komárková, Z.

    2007-01-01

    Roč. 57, 7-8 (2007), s. 341-362 ISSN 0015-1920 Grant - others:GA ČR(CZ) GA402/05/2758 Institutional research plan: CEZ:AV0Z70850503 Keywords : financial integration * stock markets * European Union Subject RIV: AH - Economics Impact factor: 0.382, year: 2007 http://journal.fsv.cuni.cz/storage/1083_fau_7_8_2007_000000000039.pdf

  12. The cultural and social integration in intra-european migration

    Directory of Open Access Journals (Sweden)

    Antonio Alaminos Chica

    2012-05-01

    Full Text Available When a migrant arrives to a different country, hemust choose how to behave in this new society. His background his present competences and his expectations about future affect this election. To understand how a migrant lives in his country of residence key concepts such as socialization processes, culture shock, intercultural competence or acculturation processes areneeded. Using data from the European Internal Movers’ SocialSurvey (EIMSS, this work focuses on the analysis of two dimensions, cultural integration and social integration, which will characterize the way that European migrants live in a new socialsetting, and their relation with the migrants’ perception of discrimination or their psychological adaptation, in terms of homesicknessand satisfaction with life.

  13. European Validation of the Integral Code ASTEC (EVITA)

    International Nuclear Information System (INIS)

    Allelein, H.-J.; Neu, K.; Dorsselaere, J.P. Van

    2005-01-01

    The main objective of the European Validation of the Integral Code ASTEC (EVITA) project is to distribute the severe accident integral code ASTEC to European partners in order to apply the validation strategy issued from the VASA project (4th EC FWP). Partners evaluate the code capability through validation on reference experiments and plant applications accounting for severe accident management measures, and compare results with reference codes. The basis version V0 of ASTEC (Accident Source Term Evaluation Code)-commonly developed and basically validated by GRS and IRSN-was made available in late 2000 for the EVITA partners on their individual platforms. Users' training was performed by IRSN and GRS. The code portability on different computers was checked to be correct. A 'hot line' assistance was installed continuously available for EVITA code users. The actual version V1 has been released to the EVITA partners end of June 2002. It allows to simulate the front-end phase by two new modules:- for reactor coolant system 2-phase simplified thermal hydraulics (5-equation approach) during both front-end and core degradation phases; - for core degradation, based on structure and main models of ICARE2 (IRSN) reference mechanistic code for core degradation and on other simplified models. Next priorities are clearly identified: code consolidation in order to increase the robustness, extension of all plant applications beyond the vessel lower head failure and coupling with fission product modules, and continuous improvements of users' tools. As EVITA has very successfully made the first step into the intention to provide end-users (like utilities, vendors and licensing authorities) with a well validated European integral code for the simulation of severe accidents in NPPs, the EVITA partners strongly recommend to continue validation, benchmarking and application of ASTEC. This work will continue in Severe Accident Research Network (SARNET) in the 6th Framework Programme

  14. DYNAMIC TRENDS OF WAGE IN UKRAINE: PROSPECTS OF EUROPEAN INTEGRATION

    Directory of Open Access Journals (Sweden)

    Ganna KATARANCHUK

    2016-07-01

    Full Text Available We analyze the main trends of the national economy and the dynamics of wages in Ukraine and other postsocialist countries in terms of the prospects of Ukraine's integration into the European economic and social space. The estimation of the impact of the wage indices for the welfare of citizens. The basic factors of Ukraine’s backlog in terms of wages from other countries and the possibilities and prospects of solving this problem are determined

  15. Market power in the European electricity market-The impacts of dry weather and additional transmission capacity

    Energy Technology Data Exchange (ETDEWEB)

    Lise, Wietze [IBS Research and Consultancy, Agahamami Cadessi 1/6, Aga Han, Cihangir, 34433 Beyoglu, Istanbul (Turkey); Energy Markets and International Environmental Policy Group, ECN Policy Studies, Energy Research Centre of the Netherlands, Amsterdam (Netherlands)], E-mail: wietze.lise@ibsresearch.com; Hobbs, Benjamin F. [Department of Geography and Environmental Engineering, Johns Hopkins University, Baltimore, MD 21218 (United States); Hers, Sebastiaan [Energy Markets and International Environmental Policy Group, ECN Policy Studies, Energy Research Centre of the Netherlands, Amsterdam (Netherlands)

    2008-04-15

    This paper uses a static computational game theoretic model of a fully opened European electricity market and can take strategic interaction among electricity-producing firms into account. The model is run for a number of scenarios: first, in the baseline under perfect competition, the prices differ due to the presence of various generation technologies and a limited ability to exchange electricity among countries. In addition, when large firms exercise market power, the model runs indicate that prices are the highest in countries where the number of firms is low. Second, dry weather would increase the prices in the hydro-rich Nordic countries followed by the Alpine countries. The price response would be about 20% higher with market power. Third, more transmission capacity would lower the prices in countries with high prices and it also reduces the impact of market power. Hence, more transmission capacity can improve market competitiveness.

  16. AN INTEGRATED SURVEY IN AFFILIATE MARKETING NETWORK

    OpenAIRE

    Norouzi, Ali

    2017-01-01

    As theInternet plays more colorful role in our everyday lives, the consumer’sshopping habits is changing toward increase in share of online purchase. Alongwith expansion of the Internet in people’s everyday life the recent years havebeen featured with growth of online marketing among businesses. Firms have cometo understanding that online marketing is a vital element for increasing brandawareness and grab attention of the modern consumers. Moreover, there has beena continuous increase in enga...

  17. Integrating Internal Branding in Marketing Strategy

    OpenAIRE

    Slavova Milanka

    2013-01-01

    Brand is a major asset of the company. Building brand equity requires a lot of efforts in brand positioning and development. In the recent years more attention is given not only to the outward branding activities but to the role of employees in the branding process. Internal branding is an essential part of the marketing strategy and branding decisions as part of the company marketing mix. It ties outward brand promise with creating employees’ brand loyalty. External and internal brand corres...

  18. Transnational deliberative democracy in the context of the European Union: The institutionalisation of the European Integration Forum

    DEFF Research Database (Denmark)

    Agustin, Oscar Garcia

    2012-01-01

    Deliberative democracy is increasingly discussed in relation to the transnational sphere in terms of promoting democratic mechanisms of representation and participation. The establishment of the European Integration Forum (EIF) represents an effort to apply deliberation to the field of integration...

  19. European wind integration study (EWIS). Towards a successful integration of large scale wind power into European electricity grids. Final report

    Energy Technology Data Exchange (ETDEWEB)

    Winter, W.

    2010-03-15

    Large capacities of wind generators have already been installed and are operating in Germany (26GW) and Spain (16GW). Installations which are as significant in terms of proportion to system size are also established in Denmark (3.3GW), the All Island Power System of Ireland and Northern Ireland (1.5GW), and Portugal (3.4GW). Many other countries expect significant growth in wind generation such that the total currently installed capacity in Europe of 68GW is expected to at least double by 2015. Yet further increases can be expected in order to achieve Europe's 2020 targets for renewable energy. The scale of this development poses big challenges for wind generation developers in terms of obtaining suitable sites, delivering large construction projects, and financing the associated investments from their operations. Such developments also impact the networks and it was to address the immediate transmission related challenges that the European Wind Integration Study (EWIS) was initiated by Transmission System Operators (TSOs) with the objective of ensuring the most effective integration of large scale wind generation into Europe's transmission networks and electricity system. The challenges anticipated and addressed include: 1) How to efficiently accommodate wind generation when markets and transmission access arrangements have evolved for the needs of traditional controllable generation. 2) How to ensure supplies remain secure as wind varies (establishing the required backup/reserves for low wind days and wind forecast errors as well as managing network congestion in windy conditions). 3) How to maintain the quality and reliability of supplies given the new generation characteristics. 4) How to achieve efficient network costs by suitable design and operation of network connections, the deeper infrastructure including offshore connections, and crossborder interconnections. EWIS has focused on the immediate network related challenges by analysing detailed

  20. European gas markets and Russian LNG. Prospects for the development of European gas markets and model simulations of possible new LNG supplies from year 2000

    Energy Technology Data Exchange (ETDEWEB)

    Eldegard, Tom [Foundation for Research in Economics and Business Administration, Bergen (Norway)

    1996-07-01

    The study aims at clarifying the framework for possible LNG exports from Northern Russia and focuses on the European natural gas markets. The first stage provides general background information on the market structure and related topics. In the second stage this information is used to develop a formal market model and subject it to simulations with various assumptions of the future gas supply. The model is described and results from simulations are given. In the first stage facts from the history of the European natural gas market are outlined. Underlying conditions for the development of natural gas markets in Europe are addressed. The EU has been promoting trade liberalisation in the energy sector but most counties resist freer gas trade across the boarders. New infrastructure development for natural gas are either underway or planned. Some important projects are mentioned. Gas in a global perspective is discussed. The cost structure of the LNG chain is mentioned and an overview of existing LNG export capacities world-wide and major reception terminals in Europe and the USA is given. The second stage employs a scenario analysis to evaluate the economic effects of hypothetical LNG deliveries from Northern Russia. The model is developed for the analysis of West European natural gas markets and designed to allow users to create a structural system of interconnected producers and market regions. Basic assumptions for the evolution of natural gas markets till 2005 is developed and base case scenarios calculated for the years 2000 and 2005 and used as a point of reference for the alternative scenarios considered. According to the analysis the introduction of a new LNG supplier in the European gas market will inflict a substantial loss upon all the existing producers. The primary keys to this result are the assumptions made for gas demand and supply capacity. The LNG alternative will hardly be approved for purely economic reasons as long as the Russians maintain

  1. European gas markets and Russian LNG. Prospects for the development of European gas markets and model simulations of possible new LNG supplies from year 2000

    International Nuclear Information System (INIS)

    Eldegard, Tom

    1996-01-01

    The study aims at clarifying the framework for possible LNG exports from Northern Russia and focuses on the European natural gas markets. The first stage provides general background information on the market structure and related topics. In the second stage this information is used to develop a formal market model and subject it to simulations with various assumptions of the future gas supply. The model is described and results from simulations are given. In the first stage facts from the history of the European natural gas market are outlined. Underlying conditions for the development of natural gas markets in Europe are addressed. The EU has been promoting trade liberalisation in the energy sector but most counties resist freer gas trade across the boarders. New infrastructure development for natural gas are either underway or planned. Some important projects are mentioned. Gas in a global perspective is discussed. The cost structure of the LNG chain is mentioned and an overview of existing LNG export capacities world-wide and major reception terminals in Europe and the USA is given. The second stage employs a scenario analysis to evaluate the economic effects of hypothetical LNG deliveries from Northern Russia. The model is developed for the analysis of West European natural gas markets and designed to allow users to create a structural system of interconnected producers and market regions. Basic assumptions for the evolution of natural gas markets till 2005 is developed and base case scenarios calculated for the years 2000 and 2005 and used as a point of reference for the alternative scenarios considered. According to the analysis the introduction of a new LNG supplier in the European gas market will inflict a substantial loss upon all the existing producers. The primary keys to this result are the assumptions made for gas demand and supply capacity. The LNG alternative will hardly be approved for purely economic reasons as long as the Russians maintain

  2. European Economics, Update. Another Ten Theses on the Economic Integration

    Directory of Open Access Journals (Sweden)

    Liviu C. ANDREI

    2010-10-01

    Full Text Available These theses, in their enunciation and debate sound like:I. There are both “incipient” and “advanced” integration processes; II. Integration changes its outline; III. There is also the „second European economics”; IV. The Communitarz Agricultural Programme (CAP, as a “mettre à l’abîme” of the whole integration process; V. The national economies convergency reads the condition of the Union itself; VI. The EU budget might be a political stake; VII. The European Monetary System (EMS is a... paradox; VIII. The public economy might be a “thorn in the unique market’s eye”; IX, Is the economic integration predestined to an unachieved strategy example?! X. Beyond all skepticism, it would be better out of the (need of integration.All of these above try to describe the picture of a half century process, in Europe. Plus, this tries to explain why Europe is different from the rest of the world, not necessarily more or less developed or well to do, as for a usual pattern.

  3. Modelling the role of transmission companies in the downstream European gas market

    International Nuclear Information System (INIS)

    Boots, M.A.; Rijkers, F.A.M.

    2000-07-01

    This paper describes the empirical model GASTALE and shows several analyses of the European gas market using this model. These analyses are mainly focused on the role of the downstream transmission companies. Producers of natural gas are assumed to form an oligopoly throughout the paper. Considering an oligopolistic transmission structure our model results show that the level of transmitters' profits strongly depends on the possibilities of discrimination on the border prices. If price discrimination by producers is allowed, these producers collect the main part of the margins on end-use prices. Without price discrimination the transmission companies collect most of the margins. Assuming an oligopolistic downstream structure, end-use prices converge to prices corresponding to perfect competition when the number of transmitters increases. Given the oligopolistic structure of the upstream industry, it is of importance to prevent (or abolish) monopolistic structures in the downstream gas market. In the case where oligopolistic competition between downstream gas companies cannot be prevented, vertical integration should be supported (or at least not be discouraged). 14 refs

  4. European Socio-Economic Integration Challenges, Opportunities and Lessons Learned

    CERN Document Server

    Korres, George

    2013-01-01

    Economic integration is one of the most noteworthy issues in international economic policy at the end of the twentieth century. The recent examples of the European Union (EU) and the North American Free Trade Association (NAFTA) have raised important questions about the economic integration process and the possible establishment of economic unions in other parts of the world.  Against the backdrop of the financial crisis in Europe and prospects of increasing integration in Asia, this volume showcases research from an international array of researchers to provide a basic understanding of the current issues, problems, challenges, and opportunities for achieving integration, addressing both empirical and theoretical aspects of such topics as monetary union, social policy reform and social union, public finance and technology policy.  The chapters in Part 1 are focused primarily on economic issues, while Part 2 covers on social policy, the welfare state, and political reforms, with a particular emphasis on the ...

  5. European Defence Community: origins of integration in the defence sphere

    Directory of Open Access Journals (Sweden)

    Іван Васильович Яковюк

    2017-12-01

    Full Text Available There is a tendency among non-historians to force «practioners» of the discipline to justify why the study of a particular episode of the past is so important and to articulate the lessons to be learned from the experience. The fate of international constitutions and treaties is particularly prone to demands of this kind. After all, «constitutional borrowing» has long been a common feature of international law and politics. This article will address one such Treaty from the past. But it does not aspire to preserving its historical integrity; rather to awaken interest in it in the first place.          The European Defence Community (EDC was an ambitious initiative in the first years of the 1950s. Leading European countries had different foreign policy agendas towards it. The EDC. could have been a crucial milestone on the long path towards European integration. European Defense Community (EDC, an abortive attempt by western European powers, with United States support, to counterbalance the overwhelming conventional military ascendancy of the Soviet Union in Europe by the formation of a supranational European army and, in the process, to subsume West German forces into a European force, avoiding the tendentious problem of West German rearmament. One can trace the U.S. influence from the very first stages of the EDC. negotiations. Even in the agreement of the EDC., the footprints of U.S. policies can be observed, bringing the NATO Alliance to the forefront. The EDC. is also interrelated with the Marshall Plan, which leads us to think that the EDC. was not solely a European dream as has been widely argued, but rather an instrument of U.S. foreign policy, which could be resorted to as and when needed.          Influenced by the Korean War, the French politician René Pleven evolved a plan that later was put forward by the French foreign minister Robert Schuman at a meeting of the Council of Europe in 1951. Though the weaker

  6. Gaining competitive advantage in the gas boilers market of Vojvodina through integrated marketing communications

    Directory of Open Access Journals (Sweden)

    Jovičić Dragoljub

    2015-01-01

    Full Text Available Since the appearance of marketing and implementation of marketing concept in practice, the importance of the marketing mix, through which organizations adapt their offer to targeted customer segments, was emphasized . Regardless of the fact that the product is commonly referred to as the basic (key instrument of the marketing mix, in the last ten years, due to the rapid and strong development of science, technology, especially information technology, business and society in general, integrated marketing communications (IMK are becoming increasingly important, without which organizations can not even begin, or end, any significant marketing activity. In this context, the aim of the authors of this study was to investigate the importance of integrated marketing communications on the placement of gas boilers, i.e. on the market share of individual producers in the market of Vojvodina, which also represents the basic hypothesis of the research. Research results confirmed the basic hypothesis as well as an extraordinary influence of IMK to the market share of producers in the placement of gas boilers. Supplementary hypothesis was not confirmed, advertising is not a key promotional instrument. Thanks to the specific characteristics, primarily the high technical complexity of gas boilers, a key promotional instrument are education and training of sales and installation staff in the marketing channels, which operate on the market of Vojvodina.

  7. The Impact of European Economic Integration on Migration in the European Union

    Directory of Open Access Journals (Sweden)

    Simionescu Mihaela

    2018-05-01

    Full Text Available The recent enlargement of the EU (since 2004 and the United Kingdom's decision to leave the European Union have prompted a growing research interest in the political and academic environment because of the causes and consequences of migration between the CEE countries and those in the Western Europe. In this study, the effects of European economic integration on the number of EU-15 immigrants from the newly integrated EU countries were assessed by econometric techniques. According to panel data models, in the period 2000-2015, the number of migrants from the new member states of the EU has increased, in average, with more than 2200 people only due to their EU membership. This result reflects the positive impact of European economic integration on the number of emigrants from the CEE countries that chose the EU-15 states as destination countries. Moreover, according to some ridge Bayesian regressions, during the period 2004-2015, the EU-15 immigrants coming from the EU-13 states did not negatively affect the economic growth of the EU-15 countries.

  8. Integrated marketing communications and their role in economy and education

    Directory of Open Access Journals (Sweden)

    Melnikova Nadezhda

    2016-01-01

    Full Text Available The article is devoted to the analysis of marketing, its role and significance in the modern education system and economy. The authors review the advantages of integrated marketing communications which include, apart from marketing, organizational culture, advertising, public relations (PR, branding, image making and other types of communication influencing the formation and functions of social processes and institutions, including the economic and education sphere.

  9. Economic implications of ASEAN integration for Malaysia's labour market

    OpenAIRE

    Rasiah, Rajah

    2014-01-01

    This paper examines the implications of the formation of the Association of Southeast Asian Nations (ASEAN) Economic Community (AEC) in 2015 on Malaysia’s labour market. The discussion centres on the nature of the structural change that Malaysia has experienced, especially since the 1980s, and how that has impacted on its labour market. Integration into ASEAN markets has obviously helped Malaysia enjoy the synergies of regional coordination. Although Malaysia’s economic growth has been steady...

  10. Integrating Business Analytics in the Marketing Curriculum: Eight Recommendations

    Science.gov (United States)

    LeClair, Dan

    2018-01-01

    Advances in technology and marketing practice have left little doubt that analytics must be integrated into the marketing curriculum, the question for many educators now is how to best to do so. While the response for each school will depend on its mission and context, as well as its strategies and resources, there already is much that can be…

  11. Stock market integration and the speed of information transmission

    Czech Academy of Sciences Publication Activity Database

    Černý, Alexandr

    -, č. 242 (2004), s. 1-25 ISSN 1211-3298 R&D Projects: GA AV ČR KSK8002119; GA ČR GA402/04/0270 Institutional research plan: CEZ:AV0Z7085904 Keywords : stock market integration * market comovement * high-frequency data Subject RIV: AH - Economics

  12. Regional Labor Market Integration, Shadow Wages and Poverty in Vietnam

    NARCIS (Netherlands)

    Trung, Le Dang; Oostendorp, Remco H.

    2017-01-01

    Poor workers suffer from low returns to their most abundant resource, labor. In this paper we show that labor market integration strongly affects these returns for poor workers in Vietnam. Using seven representative household surveys, it is shown that while regional labor markets have become

  13. Source-Message-Receiver in Integrated Marketing Communication

    Science.gov (United States)

    Broussard, Sharee LeBlanc

    2011-01-01

    This is an abbreviation of the author's dissertation. Because integrated marketing communication (IMC) research has traditionally been problematic, this study used an existing scale to determine that higher educational institutional advancement (alumni, marketing-communications, development) is an appropriate venue to study the process model of…

  14. Integrated Marketing Communications: A New Master's Degree Concept.

    Science.gov (United States)

    Caywood, Clarke; Ewing, Raymond

    1991-01-01

    Describes how separate graduate degree programs have been fused into an integrated marketing communications program at Northwestern University. Discusses the five-quarter program that includes a core of new marketing communications planning and management classes, professional specialization classes in corporate public relations, advertising, and…

  15. Spatial price transmission and market integration of Cistanthera ...

    African Journals Online (AJOL)

    Spatial price transmission and market integration of Cistanthera papaverifera species in ... Log in or Register to get access to full text downloads. ... the null hypothesis of non-stationarity at their levels at 1% and 5% significance level. ... This study concludes that sawn-wood marketing in Delta State have a high degree of ...

  16. [Drugs in the European Union: the health-market complex].

    Science.gov (United States)

    Antoñanzas, Fernando; Rodríguez, Roberto; Sacristán, José Antonio; Illa, Rafael

    2005-01-01

    To characterize the peculiar economic nature of the pharmaceutical market in the EU, to study potential groupings of countries based on several pharmaceutical variables, to analyze some recent regulations designed to create the single market, and to present some thoughts on the decision making process in public health from the perspective of current public health budgets. We performed an economic analysis of health and pharmaceutical macrovariables, cluster analysis, review of EU pharmaceutical and industrial regulations and review of pharmaceutical budgeting legislation in the member states. The pharmaceutical market of the EU was characterized and EU countries were classified into two principal groups according to 5 selected variables. EU regulations tend to promote R + D and drug production and thus the EU industrial sector is backed up. National regulations differ in terms of pricing and drugs reimbursement. The creation of a single market for drugs in the EU should take this regulatory diversity into account and seek equilibrium between economic factors and public health. This single market may be a dangerous strategy if it becomes a general dogma and even more so if deadlines are fixed and short.

  17. TESTING STOCK MARKETS’ INTEGRATION FROM CENTRAL AND EASTERN EUROPEAN COUNTRIES WITHIN EURO ZONE

    Directory of Open Access Journals (Sweden)

    Viorica CHIRILA

    2014-10-01

    Full Text Available Stock market integration gives the opportunity of risk diversification on international level. The main effects of this integration are the development of stock markets and economic growth. This paper analyses the integration of stock markets from Central and Eastern Europe using convergence. Beta-convergence gives us information about integration’s speed and sigma-convergence presents information about the degree of integration of stock markets from Central and Eastern Europe on the stock market of Euro Zone.

  18. The timeline of trading frictions in the European carbon market

    International Nuclear Information System (INIS)

    Medina, Vicente; Pardo, Ángel; Pascual, Roberto

    2014-01-01

    During its trial phase (Phase I), the EU Greenhouse Gas Emission Trading Scheme (EU-ETS) collapsed because of an over-allocation of emission allowances. We evaluate the progress of this market from the trial phase to the next commitment period (Phase II) from a microstructure angle. We show that trading frictions, as measured by the relative spread, information-asymmetry risk, and market-making profits decreased from Phase I to Phase II. Although volatility decreased, its noise-related component gained in importance at the expense of its information-related component, resulting in lower quality of the price changes. - Highlights: • We compare Phases I and II of the EU-ETS from a microstructure angle. • Phase II shows lower spreads, information-asymmetry risk and market making profits. • The contribution of noise to the volatility of prices increased during Phase II

  19. 'Children and obesity: a pan-European project examining the role of food marketing'.

    Science.gov (United States)

    Matthews, Anne E

    2008-02-01

    Rising levels of obesity in school-age children across Europe are causing increasing concern. The 'Children, Obesity and associated avoidable Chronic Diseases' project sought to examine the effects of promotion within food marketing, given the influential role it plays in children's diets. A questionnaire and data-collection protocol was designed for the national co-ordinators, facilitating standardized responses. Co-ordinators collected data from within 20 European Union countries relating to food promotion to children. Results showed that unhealthy foods such as savoury snacks and confectionary were the most commonly marketed and consumed by children across all countries. Television was found to be the prime promotional medium, with in-school and internet marketing seen as growth areas. Media literacy programmes designed specifically to counterbalance the effects of food marketing to children were reported by only a few of the 20 countries. An ineffective and incoherent pattern of regulation was observed across the countries as few governments imposed tough restrictions with most preferring to persuade industry to voluntarily act with responsibly. Most health, consumer and public interest groups supported food marketing restrictions whilst industry and media groups advocated self-regulation. Recommendations include the amendment of the European Union's Television Without Frontiers Directive to ban all TV advertising of unhealthy food to children, the adoption of a commonly agreed European Union definition of an 'unhealthy' food, and the establishment of a mechanism for pan-European monitoring of the nature and extent of food marketing to children and its regulation.

  20. Does the market share of generic medicines influence the price level?: a European analysis.

    Science.gov (United States)

    Dylst, Pieter; Simoens, Steven

    2011-10-01

    After the expiry of patents for originator medicines, generic medicines can enter the market, and price competition may occur. This process generates savings to the healthcare payer and to patients, but knowledge about the factors affecting price competition in the pharmaceutical market following patent expiry is still limited. This study aimed to investigate the relationship between the market share of generic medicines and the change of the medicine price level in European off-patent markets. Data on medicine volumes and values for 35 active substances were purchased from IMS Health. Ex-manufacturer prices were used, and the analysis was limited to medicines in immediate-release, oral, solid dosage forms. Countries included were Austria, Belgium, Denmark, Germany, France, Italy, the Netherlands, Spain, Sweden and the UK, which constitute a mix of countries with low and high generic medicines market shares. Data were available from June 2002 until March 2007. Market volume has risen in both high and low generic market share countries (+29.27% and +27.40%, respectively), but the cause of the rise is different for the two markets. In low generic market share countries, the rise was caused by the increased use of generic medicines, while in high market share countries, the rise was driven by the increased use of generic medicines and a shift of use from originator to generic medicines. Market value was substantially decreased in high generic market share countries (-26.6%), while the decrease in low generic market share countries was limited (-0.06%). In high generic market share countries, medicine prices dropped by -43.18% versus -21.56% in low market share countries. The extent to which price competition from generic medicines leads to price reductions appears to vary according to the market share of generic medicines. High generic market share countries have seen a larger decrease in medicine prices than low market share countries.