State Transformation and the European Integration Project. Lessons from the financial crisis and the Greek paradigm. CEPS Special Report No. 130/February 2016

The financial crisis that erupted in the eurozone not only affected the EU’s financial governance mechanisms, but also the very nature of state sovereignty and balances in the relations of member states; thus, the actual inequalities between the member states hidden behind their institutional equality have deteriorated. This transformation is recorded in the case law of the Court of Justice of the European Union and the member states’ constitutional courts, particularly in those at the heart of the crisis, with Greece as the most prominent example. It is the issue of public debt (sovereign debt) of the EU member states that particularly reflects the influence of the crisis on state sovereignty as well as the intensely transnational (intergovernmental) character of European integration, which under these circumstances takes the form of a continuous, tough negotiation. The historical connection between public debt (sovereign debt) and state sovereignty has re-emerged because of the financial crisis. This development has affected not only the European institutions, but also, at the member state level, the actual institutional content of the rule of law (especially judicial review) and the welfare state in its essence, as the great social and political acquis of 20th century Europe. From this perspective, the way that the Greek courts have dealt with the gradual waves of fiscal austerity measures and structural reforms from 2010 to 2015 is characteristic. The effect of the financial crisis on the sovereignty of the member states and on the pace of European integration also has an impact on European foreign and security policy, and the correlations between the political forces at both the national and European level, thus producing even more intense pressures on European social democracy. In light of the experience of the financial crisis, the final question is whether the nation state (given the large real inequalities among the EU member states) currently functions as a brake or as an engine for future European integration.

A letter to the Right Honorable Sir Robert Peel, bart. etc., on the condition of England, and on the means of removing the causes of distress.

Added title page: The budget. A series of letters on financial, commercial, and colonial policy. By a member of the Political Economy club. No. IX.

Market orientation, innovation capability and business performance:insights from the global financial crisis

Purpose - The paper aims to examine the role of market orientation (MO) and innovation capability in determining business performance during an economic upturn and downturn. Design/methodology/approach - The data comprise two national-level surveys conducted in Finland in 2008, representing an economic boom, and in 2010 when the global economic crisis had hit the Finnish market. Partial least square path analysis is used to test the potential mediating effect of innovation capability on the relationship between MO and business performance during economic boom and bust. Findings - The results show that innovation capability fully mediates the performance effects of a MO during an economic upturn, whereas the mediation is only partial during a downturn. Innovation capability also mediates the relationship between a customer orientation and business performance during an upturn, whereas the mediating effect culminates in a competitor orientation during a downturn. Thus, the role of innovation capability as a mediator between the individual market-orientation components varies along the business cycle. Originality/value - This paper is one of the first studies that empirically examine the impact of the economic cycle on the relationship between strategic marketing concepts, such as MO or innovation capability, and the firm's business performance.

Exchange Rate Policy and Economic Growth after the Financial Crisis in Central and Eastern Europe

In a paper on the effects of the global financial crisis in Central and Eastern Europe (CEE), the author reacts to a paper of Åslund (2011) published in the same issue of Eurasian Geography and Economics on the influence of exchange rate policies on the region’s recovery. The author argues that post-crisis corrections in current account deficits in CEE countries do not in themselves signal a return to steady economic growth. Disagreeing with Åslund over the role of loose monetary policy in fostering the region’s economic problems, he outlines a number of competitiveness problems that remain to be addressed in the 10 new EU member states of CEE, along with improvements in framework conditions supporting future macroeconomic growth.

A számviteli szabályozások eltérésének okairól (Causes of the differences in accounting regulations)

A számviteli szabályozások közötti eltérések oda vezethetnek, hogy ugyanarról a gazdálkodó egység, egyazon időszakáról, akár jelentősen is eltérő, és az adott szabályozási logika alapján helyes pénzügyi kimutatások készülnek. Ezek a sokszor materiális eltérések nehezen magyarázhatók, ha figyelembe vesszük azt a tényt is, hogy a különböző pénzügyi kimutatások mögött azonos gazdasági események húzódnak meg. Az eltérések a számviteli szabályozás különbségeivel magyarázhatók. A cikk feltárja, hogy a számviteli szabályozásnak milyen szintjeit lehet megkülönböztetni, és vizsgálja, hogy milyen tényezők vezettek el oda, hogy az egyes megközelítések akár markánsan eltérő megoldásokat kínálnak egy-egy adott vagyoni elem megjelenítésére és értékelésére, illetve egy tranzakció megjelenítésére. A cikk az egyes eltéréseket indukáló tényezők rendszerezése útján megkísérel deduktív úton becslést adni a számviteli harmonizáció további lehetséges irányaira. ____ Differences among the accounting regulations may lead to material dissimilarities in the financial statements prepared for the same entity and same financial year. These material differences are sometimes hard to explain, given that they shall be based on the same transactions. The differences are explained by the differences in the regulations. The paper explains the possible levels of accounting by-laws and examines – based on the relevant literature – the factors that led to different solutions for the recognition, measurement and disclosure of the same items or transactions. By structuring these factors the article tries to give possible future advances in the harmonization of such systems using a deductive approach.

From stability to insurgency: The root and proximate causes of the September 2002 civil war in Côte d'Ivoire

This dissertation was an analysis of the root and proximate causes of the September 2002 civil war in Côte d’Ivoire. The central question of this study was: Why did Côte d’Ivoire, which was relatively stable under President Houphouët-Boigny, suddenly begin to experience political violence in the 1990s and an explosion in 2002? Côte d’Ivoire was an interesting case because it was stable for a long period of time, apparently making it an infertile ground for conflict. It was also interesting for comparative purposes because of the fact that several states in West Africa (for instance, Benin, Togo, and Ghana) have experienced military coups but not have civil wars. Finally, this case was an opportunity to revisit the debate on the causes of civil wars in the African context. Chapter one has outlined the entire dissertation project and contextualized the analysis that follows in the subsequent chapters. Chapter two has reviewed the literature on civil wars in general, identified the different types of civil wars, and the type the Ivoiran war is. Chapter three has examined the domestic and international political economy as a source of the civil violence in Côte d’Ivoire. Chapter four has examined the role of ethnicity and region as identities of the war, while chapter five has analyzed the role of the foreign relations in the civil war, as well as the regional political context. Chapter six has distinguished between the root and proximate causes of the Ivoirian civil war, made judgments about the relative weight of the various causes, and the extent to which the weight of the causes can be measured. The study found that the “Ivoirité” was the most important trigger of the civil war in Côte d’Ivoire. The overall conclusion of my dissertation was that the September 2002 crisis in that country was a political crisis which occured in the context of a political reform. It first started with succession problems in 1993 followed by the controversial elections in 1995 and 2000. Later, this electoral politics spread beyond electoral issues, namely citizenship matters.

From Stability to Insurgency: The Root and Proximate Causes of the September 2002 Civil War in Cote d'Ivoire

This dissertation was an analysis of the root and proximate causes of the September 2002 civil war in Côte d’Ivoire. The central question of this study was: Why did Côte d’Ivoire, which was relatively stable under President Houphouët-Boigny, suddenly begin to experience political violence in the 1990s and an explosion in 2002? Côte d’Ivoire was an interesting case because it was stable for a long period of time, apparently making it an infertile ground for conflict. It was also interesting for comparative purposes because of the fact that several states in West Africa (for instance, Benin, Togo, and Ghana) have experienced military coups but not have civil wars. Finally, this case was an opportunity to revisit the debate on the causes of civil wars in the African context. Chapter one has outlined the entire dissertation project and contextualized the analysis that follows in the subsequent chapters. Chapter two has reviewed the literature on civil wars in general, identified the different types of civil wars, and the type the Ivoiran war is. Chapter three has examined the domestic and international political economy as a source of the civil violence in Côte d’Ivoire. Chapter four has examined the role of ethnicity and region as identities of the war, while chapter five has analyzed the role of the foreign relations in the civil war, as well as the regional political context. Chapter six has distinguished between the root and proximate causes of the Ivoirian civil war, made judgments about the relative weight of the various causes, and the extent to which the weight of the causes can be measured. The study found that the “Ivoirité” was the most important trigger of the civil war in Côte d’Ivoire. The overall conclusion of my dissertation was that the September 2002 crisis in that country was a political crisis which occured in the context of a political reform. It first started with succession problems in 1993 followed by the controversial elections in 1995 and 2000. Later, this electoral politics spread beyond electoral issues, namely citizenship matters.

Finance past, finance future: a brief exploration of the evolution of financial practices

As we work our way through the latest financial crisis, politicians seem both powerless to act convincingly and unable to craft from the welter of diverse and antagonistic narratives a coherent and convincing vision of the future. In this article, we argue that a temporal lens brings clarity to such confusion, and that thinking in terms of time and reflecting on privileged temporal structures helps to highlight underlying assumptions and distinguish different narratives from one another. We begin by articulating our understanding of temporality, and we proceed to apply this to the evolution of financial practice during different historical epochs as recently delineated by Gordon (2012). We argue that the principles of finance were effectively in place by the eighteenth century and that consequent developments are best conceptualized as phases in which one particular aspect is intensified. We find that in different historical periods, the temporal intensification associated with specific models of finance shifts, over history, from the past to the present to the future. We argue that a quite idiosyncratic understanding of the future has been intensified in the present phase, what we refer to as proximal future, and we explain how this has come to be. We then consider the ethical consequences of privileging an intensification of proximal future before mapping an alternative model centred on intensifying distal future, highlighting early signs of its potential emergence in the shadows of our present.

Looking for Determinants of Ontological Security in the Spain of the Crisis

The concept of ontological security has a remarkable echo in the current sociology to describe emotional status of men of late modernity. However, the concept created by Giddens in the eighties has been little used in empirical research covering various sources of risk or uncertainty. In this paper, a scale for ontological security is proposed. To do this, we start from the results of a research focused on the relationship between risk, uncertainty and vulnerability in the context of the economic crisis in Spain. These results were produced through nine focus groups and a telephone survey with standardized questionnaire applied to a national sample of 2,408 individuals over 18 years. This work is divided into three main sections. In the fi rst, a scale has been built from the results of the application of different items present in the questionnaire used. The second part explores the relationships of the scale obtained with the variables further approximate the emotional dimensions of individuals. The third part observes the variables that contribute to changes in the scale: These variables show the structural feature of the ontological security.

Special employment centers in Castile and León 2007-2013: effects of the crisis in relation to these centers’ registered legal personalities

The aim of this paper is to carry out an economic and financial study of the Special Employment Centres in Castile and León based on a classification of these entities’ registered legal personalities in order to view how the economic crisis that began at the end of 2007 may have affected them. Various items from the Centres’ financial statements are analysed and the results are compared to those from the period 2007-2013 as to provide a broader perspective of their size, development, growth and behaviour. The following economic figures were used: total assets, turnover and revenue. The variable “employment” is compared with the subsidies received by the Centres, showing that the crisis does affect the Centres depending on their registered legal personalities. Associations and physical persons are the most affected personalities, to the point of possible extinction. An account reversal for the Centres is also included in this article, which measures the percentage of public aid received by the Centres that is returned to society.

Causes of injuries resulting in hospitalisation in Australia : assessing coder agreement on external causes

Objective: To assess extent of coder agreement for external causes of injury using ICD-10-AM for injury-related hospitalisations in Australian public hospitals. Methods: A random sample of 4850 discharges from 2002 to 2004 was obtained from a stratified random sample of 50 hospitals across four states in Australia. On-site medical record reviews were conducted and external cause codes were assigned blinded to the original coded data. Code agreement levels were grouped into the following agreement categories: block level, 3-character level, 4-character level, 5th-character level, and complete code level. Results: At a broad block level, code agreement was found in over 90% of cases for most mechanisms (eg, transport, fall). Percentage disagreement was 26.0% at the 3-character level; agreement for the complete external cause code was 67.6%. For activity codes, the percentage of disagreement at the 3-character level was 7.3% and agreement for the complete activity code was 68.0%. For place of occurrence codes, the percentage of disagreement at the 4-character level was 22.0%; agreement for the complete place code was 75.4%. Conclusions: With 68% agreement for complete codes and 74% agreement for 3-character codes, as well as variability in agreement levels across different code blocks, place and activity codes, researchers need to be aware of the reliability of their specific data of interest when they wish to undertake trend analyses or case selection for specific causes of interest.