7 resultados para spread of hatch

em Archive of European Integration


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From the Introduction. The aim of the present “letter” is to provoke, rather than to prove. It is intended to further stimulate the – already well engaged – scientific dialogue on the open method of coordination (OMC).1 This explains why some of the arguments put forward are not entirely new, while others are overstretched. This contribution, belated as it is entering into the debate, has the benefit of some hindsight. This hindsight is based on three factors (in chronological order): a) the fact that the author has participated himself as a member of a national delegation in one of the OMC-induced benchmarking exercises (only to see the final evaluation report getting lost in the Labyrinth of the national bureaucracy, despite the fact that it contained an overall favorable assessment), as well as in a OECD led exercise of coordination, concerning regulatory reform; b) the extremely rich and knowledgeable academic input, offering a very promising theoretical background for the OMC; and c) some recent empirical research as to the efficiency of the OMC, the accounts of which are, to say the least, ambiguous. This recent empirical research grounds the basic assumption of the present paper: that the OMC has only restricted, if not negligible, direct effects in the short term, while it may have some indirect effects in the medium-long term (2). On the basis of this assumption a series of arguments against the current “spreadof the OMC will be put forward (3). Some proposals on how to neutralize some of the shortfalls of the OMC will follow (4).

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In the last decade, along with economic and technological growth, Russia has seen a dynamic development of the internet. Today the net is an everyday tool of work, information and entertainment for 40% of Russians – the most educated, active and affluent part of the society. The spread of the internet (known in Russia as the Runet) has, in turn, brought about significant political and social consequences. With the political and social sphere in Russia strictly controlled by the government, most of this activity has moved to cyberspace. The internet has become an alternative to the state-controlled media, a site for the free exchange of views and a home to numerous social initiatives. In this way, it has become a school of citizenship for Russians, and a kind of ‘test tube’ that has spawned social and political activity. This activity went beyond cyberspace in the election period in 2011/2012, and turned into massive street protests. The potential of the internet has also been used by the Russian government, both to shape public opinion (via loyal online media) and to monitor civil initiatives, especially opposition ones. The state has many instruments of technical control and supervision of the internet and its users’ activity. This control was used in the election period 2011/2012, when selected sites were blocked and pressure exerted on independent websites. These actions were a warning sign from the government, aimed at discouraging internet users from any opposition activity. However, it does not seem feasible that any restriction of such activity can be effective. The scale of this activity is now enormous, and attempts to censor the net and resorting to repression against internet users on a wider scale would only fuel resentment towards the government.

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The paper studies country risk in two Central and Eastern European countries - Bulgaria and Poland. The long run relationship between the yield differential (spread) of Eastern European national bonds (denominated in US dollars) over a US Treasury bond on one the hand and the country’s fundamentals as well as an US interest rate on the other hand, is examined. The cointegrated VAR model is used. First, the yield differentials are analyzed on a country by country basis to extract stochastic trends which are common for all bonds in a given country. Thereafter, the risk is disentangled into country and higher level risk. This paper is among the first ones which use time series data to study the evidence from sovereign bond spreads in Eastern Europe.

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With a growing number of threats to governance in the international system that result from globalization and technological innovation, it is no surprise that states have come to rely more heavily on each other and the global community for support. While the EU is partially constrained by the ultimate outcome of its own integration process, limited knowledge on this issue, and the national interests of its Member States, other governments are also experiencing difficulty in domestic implementation of international resolutions. To better understand the impact of the most recent sanctioning efforts, this paper will explore the development of the non-proliferation regime, examine implementation mechanisms of non-proliferation agreements, and analyze the impact of increased cooperation among states to thwart the spread of WMD technology and material. Case studies of unilateral measures undertaken by the US and EU against Iran will provide insight into the political and economic implications of economic sanctions from individual governments. New and emerging methods for limiting rogue states and non-state actors from acquiring the means to develop WMD will also be discussed in an effort to further discussion for future policy debates on this critical topic.