scholarly journals Fiscal Constraints In The European Union – When More Is Less?

2015 ◽  
Vol 62 (s1) ◽  
pp. 19-28
Author(s):  
Florin-Alexandru Macsim ◽  
Florin Oprea
Keyword(s):  
Public Policy ◽  
European Union ◽  
Public Debt ◽  
Fiscal Rules ◽  
Fiscal Policies ◽  
Budget Deficits ◽  
The European Union ◽  
Fiscal Institutions ◽  
Fiscal Constraints ◽  
Key Aspects

Abstract This paper examines the implications of fiscal rules measured through the Fiscal Rules Index and fiscal institutions that supervise fiscal policies on key aspects of fiscal policies such as public debt and budget deficits. Our goal was to identify the specific links between fiscal rules, institutions and fiscal policies, to support any rethinking of public policy matters. Our results confirm that the government’s consolidated debt is influenced by both fiscal rules and institutions. Through this research we have showed that an increased number of institutions and fiscal rules is closely related to an increase in public debt levels. We explained this influence by stating that cause may consist in not having one strong and independent institution, but more institutions more or less independent that divide key responsibilities. Also our results indicate that budget deficits aren’t influenced either by supervising institutions or fiscal rules.

scholarly journals Impact of fiscal institutions on public finances in the European Union: Review of evidence in the empirical literature

2021 ◽  
Vol 21 (2) ◽  
pp. 215-232
Author(s):  
Martin Gorčák ◽  
Stanislav Šaroch
Keyword(s):  
European Union ◽  
Fiscal Policy ◽  
Policy Making ◽  
Fiscal Rules ◽  
Empirical Literature ◽  
The European Union ◽  
Fiscal Institutions ◽  
Public Finances ◽  
The Eu ◽  
Fiscal Outcomes

Abstract This paper examines the impact of budgetary institutions on public finances in the European Union on the basis of a critical survey of the relevant theoretical and empirical literature. In general, the authors find that fiscal institutions (namely fiscal rules) have successfully contributed to greater fiscal sustainability, reduced procyclicality of fiscal policies within the EU, and increased national ownership of fiscal rules by strengthening national fiscal frameworks. A fiscal reaction function was one of the widely used methods to determine the principal variables affecting fiscal outcomes. Some authors used cyclically-adjusted fiscal outcomes as the dependent variable representing the discretionary fiscal policy-making whereas others put emphasis on other fiscal outcomes. The samples of countries covered mostly the EU Member States, representing rather homogenous samples in the context of common EU fiscal framework. Institutional aspects used as independent variables differed significantly among authors and some could be added for future research. Based on the literature survey, several recommendations were made for fiscal policy-making.

scholarly journals Public Debt and Economic Growth in the European Union. Empirical Investigation

2021 ◽  
Vol 18 ◽  
pp. 199-208
Author(s):  
Piotr Misztal
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Economic Development ◽  
Public Debt ◽  
Budget Deficit ◽  
Negative Impact ◽  
Foreign Debt ◽  
Budget Deficits ◽  
The European Union ◽  
The Impact

The relatively high sizes of public debts in many of the world's member states have led to frequentdebates concerning the influence of public debt on economic growth. Analyzing economic literature it can beseen, that theoretical and empirical considerations on this topic are divided into three main parties. The firstpart of analyzes is the work of the Keynesians, which emphasizes that the budget deficit as well as the publicdebt positively affects the economic development of the country, mainly through the impact of the budgetexpenditure multiplier. The opposite view on budget deficits and public debt is represented by the neoclassicalschool, who argue that the budget deficit and public debt can have negative impact on economic growth.Conversely, proponents of the Ricardian equivalence concept believe that budget deficits and public debt areneutral for economic growth. These three mentioned above approaches to the budget deficit and public debtproblem have led to many debates at home and abroad about the importance of budget deficit and public debt inthe process of economic growth and economic development of the country. The main objective of the study isto determine the impact of the foreign debt and home debt on economic activity of the country, based on theexample of the 27 member countries of the European Union (without United Kingdom) in the period 2006-2017. The statistics came from the European Statistical Office (Eurostat) and International Monetary Funddatabase (World Economic Outlook).

scholarly journals The Sustainability of Public Finances in Republic of Moldova Under EU Fiscal Rules

2016 ◽  
Vol 63 (2) ◽  
pp. 149-159
Author(s):  
Tatiana Covalschi ◽  
Sebastian Lazăr
Keyword(s):  
Public Debt ◽  
Fiscal Rules ◽  
Public Expenditures ◽  
Budget Deficits ◽  
The European Union ◽  
Public Finances ◽  
The Public ◽  
Republic Of Moldova ◽  
Fiscal Compact ◽  
The Republic

This paper analyses public finances sustainability in the Republic of Moldova under the European Union fiscal rules, by estimating the structural budget balance indicator using a three steps methodology. We concluded that, except for 2009, the Republic of Moldova complies with the Maastricht numerical fiscal rule; however it does not comply with the new fiscal rules regarding the structural deficit and public expenditures growth that had been set by the Fiscal Compact. The fact that budget deficits and public debt had been sustainable was mainly because of the concessions made by the external creditors in restructuring the public debt and was not a merit of national government. Moreover, since the regular budget deficit and the structural one tell different stories, we strongly advocate for using the latter in order to complement the existing data with a medium-term budgetary view.

Political aspects of security of the European Union Member States

2020 ◽  
pp. 97-105
Author(s):  
Aleksandra Kusztykiewicz-Fedurek
Keyword(s):  
European Union ◽  
Negative Impact ◽  
The European Union ◽  
Member States ◽  
Eu Member States ◽  
Political Security ◽  
New Institutions ◽  
The Stability ◽  
Key Aspects ◽  
The Eu

Political security is very often considered through the prism of individual states. In the scholar literature in-depth analyses of this kind of security are rarely encountered in the context of international entities that these countries integrate. The purpose of this article is to draw attention to key aspects of political security in the European Union (EU) Member States. The EU as a supranational organisation, gathering Member States first, ensures the stability of the EU as a whole, and secondly, it ensures that Member States respect common values and principles. Additionally, the EU institutions focus on ensuring the proper functioning of the Eurozone (also called officially “euro area” in EU regulations). Actions that may have a negative impact on the level of the EU’s political security include the boycott of establishing new institutions conducive to the peaceful coexistence and development of states. These threats seem to have a significant impact on the situation in the EU in the face of the proposed (and not accepted by Member States not belonging to the Eurogroup) Eurozone reforms concerning, inter alia, appointment of the Minister of Economy and Finance and the creation of a new institution - the European Monetary Fund.

EUROPEAN FISCAL RULES AS A LIABILITY IN THE TRANSATLANTIC TRADE CONFLICT: LESSONS FROM NiGEM SIMULATIONS

2020 ◽  
Vol 254 ◽  
pp. R54-R66 ◽  
Author(s):  
Sebastian Dullien ◽  
Sabine Stephan ◽  
Thomas Theobald
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Fiscal Policy ◽  
Fiscal Rules ◽  
The European Union ◽  
Negative Effects ◽  
Transatlantic Trade ◽  
The Us ◽  
Trump Administration

Under the Trump administration, a transatlantic trade conflict has been escalating step by step. First, it was about tariffs on steel and aluminium, then about retaliation for the French digital tax, which is suspended until the end of the year. Most recently, the US administration threatened the European Union with tariffs on cars and car parts because of Canadian seafood being subject to lower import duties. As simulations with NiGEM show, a further escalation of the transatlantic trade conflict has the potential to slow down economic growth significantly in the countries involved. This is a considerable risk given the fact that the countries have to cope with the enormous negative effects of the pandemic shock. Furthermore, the damage caused by the trade conflict depends on the extent to which the affected countries use fiscal policy to stabilise their economies.

scholarly journals National fiscal rules and fiscal discipline in the European Union

2021 ◽  
Vol 53 (20) ◽  
pp. 2337-2359
Author(s):  
Amélie Barbier-Gauchard ◽  
Kea Baret ◽  
Alexandru Minea
Keyword(s):  
European Union ◽  
Fiscal Rules ◽  
The European Union ◽  
Fiscal Discipline

The Governance of the European Union: A New Institutionalist Approach

1993 ◽  
Vol 13 (4) ◽  
pp. 351-380 ◽  
Author(s):  
Simon J. Bulmer
Keyword(s):  
Public Policy ◽  
European Union ◽  
International Relations ◽  
European Integration ◽  
European Community ◽  
Historical Institutionalism ◽  
System Level ◽  
The European Union ◽  
Comparative Public Policy ◽  
Policy Perspective

ABSTRACTThe analysis of European integration has tended to use a toolkit drawn from international relations. But since the revival of integration in the mid-1980s, the governance of the European Community and European Union has increasingly come to resemble that of a multi-tiered state. Accordingly, this article analyzes the governance of the European Union from a comparative public policy perspective. Using new or historical institutionalism, three levels are considered. In the first part, attention is focused on the EU's institutions and the available instruments of governance. The second part examines the analysis of governance at the policy-specific or sub-system level, and puts forward an approach based on governance regimes. The final part considers the institutional roots of the persistent, regulatory character of governance in the European Union.

scholarly journals Electronic commerce and its regulation in the European Union and China

2021 ◽  
Vol 7 (Extra-B) ◽  
pp. 37-46
Author(s):  
Lin Peiyuan
Keyword(s):  
European Union ◽  
Statistical Analysis ◽  
Group Analysis ◽  
Legal Regulation ◽  
Legal Analysis ◽  
The European Union ◽  
Legal Norms ◽  
Republic Of China ◽  
Scientific Group ◽  
Key Aspects

The article provides a statistical analysis of the trends in the development of e-commerce in the world in general and in China in particular, a comparative legal analysis of the system of legal regulation of key aspects affecting the functioning of e-commerce in the European Union and in the People’s Republic of China (further PRC). The research methodology is based on a systematic approach and includes the methods of the general scientific group (analysis, synthesis, induction, deduction), as well as special methods: statistical analysis, content analysis of scientific literature on the research topic, the method of comparative legal analysis. As a result of the study, the author came to the conclusion that the legislation of China and the European Union regarding the regulation of e-commerce is aimed at fundamentally different goals: in the EU, legislation is aimed at protecting private transactions and trade, and for China, the priority is the development of legal norms that allow the state as much as possible control electronic commercial flows and procuring a cybersecurity in e-commerce sector.

scholarly journals Reverse Logistic Strategy for the Management of Tire Waste in Mexico and Russia: Review and Conceptual Model

2018 ◽  
Vol 10 (10) ◽  
pp. 3398 ◽  
Author(s):  
Maria-Lizbeth Uriarte-Miranda ◽  
Santiago-Omar Caballero-Morales ◽  
Jose-Luis Martinez-Flores ◽  
Patricia Cano-Olivos ◽  
Anastasia-Alexandrovna Akulova
Keyword(s):  
European Union ◽  
Reverse Logistics ◽  
State Of The Art ◽  
The European Union ◽  
Public Companies ◽  
Reverse Logistic ◽  
Private And Public ◽  
Key Aspects ◽  
Social Entities ◽  
High Degree

Management of tire waste is an important aspect of sustainable development due to its environmental, economical and social impacts. Key aspects of Reverse Logistics (RL) and Green Logistics (GL), such as recycling, re-manufacturing and reusable packaging, can improve the management of tire waste and support sustainability. Although these processes have been performed with a high degree of efficiency in other countries such as Japan, Spain and Germany, the application in Mexico and Russia has faced setbacks due to the absence of guidelines regarding legislation, RL processes, and social responsibility. Within this context, the present work aims to develop an integrated RL model to improve on these processes by considering the RL models from Russia and Mexico. For this, a review focused on RL in Mexico, Russia, Japan and the European Union (EU) was performed. Hence, the integrated model considers regulations and policies performed in each country to assign responsibilities regarding RL processes for the management of tire waste. As discussed, the implementation of efficient RL processes for the management of tire waste depends of different social entities such as the user (customer), private and public companies, and manufacturing and state-of-the-art approaches to transform waste into different products (diversification) to consider the RL scheme as a total economic system.

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