Search

You searched for: Political Geography Europe Remove constraint Political Geography: Europe
Number of results to display per page

Search Results

  • Author: Zsolt Darvas, Dirk Schoenmaker
  • Publication Date: 03-2017
  • Content Type: Working Paper
  • Institution: Bruegel
  • Abstract: Integrated capital markets facilitate risk sharing across countries. Lower home bias in financial investments is an indicator of risk sharing. We highlight that existing indicators of equity home bias in the literature suffer from incomplete coverage because they consider only listed equities. We also consider unlisted equites and show that equity home bias is much higher than previous studies perceived. We also analyse home bias in debt securities holdings, and euro-area bias. We conclude that European Union membership may foster financial integration and reduce information barriers, which sometimes limit cross-country diversification. We calculate home bias indicators for the aggregate of the euro area as if the euro area was a single country and report remarkable similarity between the euro area and the United States in terms of equity home bias, while there is a higher level of debt home bias in the United States than in the euro area as a whole. We develop a new pension fund foreign investment restrictions index to control for the impact of prudential regulations on the ability of institutional investors to diversify geographically across borders. Our panel regression estimates for 25 advanced and emerging countries in 2001-14 provide strong support for the hypothesis that the larger the assets managed by institutional investors (defined as pension funds, insurance companies and investment funds), the smaller the home bias and thereby the greater the scope for risk sharing.
  • Topic: International Political Economy, International Trade and Finance, Economic structure, Europe Union
  • Political Geography: Europe
  • Author: Yakov Ben-Haim, Maria Demertzis, Jan Willem Van Den End
  • Publication Date: 02-2017
  • Content Type: Working Paper
  • Institution: Bruegel
  • Abstract: This paper applies the info-gap approach to the unconventional monetary policy of the Eurosystem and so takes into account the fundamental uncertainty on inflation shocks and the transmission mechanism. The outcomes show that a more demanding monetary strategy, in terms of lower tolerance for output and inflation gaps, entails less robustness against uncertainty, particularly if financial variables are taken into account. Augmenting the Taylor rule with a financial variable leads to a smaller loss of robustness than taking into account the effect of financial imbalances on the economy. However, in some situations, the augmented model is more robust than the baseline model. A conclusion from our framework is that including financial imbalances in the monetary policy objective does not necessarily increase policy robustness, and may even decrease it
  • Topic: Economics, International Political Economy, International Trade and Finance
  • Political Geography: Europe
  • Author: Baronia Nitisha
  • Publication Date: 03-2017
  • Content Type: Working Paper
  • Institution: Institute of European Studies
  • Abstract: Due to economic, political, and cultural disparities between member states, the European Union (EU) has been unable to form a pan-European political and cultural identity. This has resulted in a long-term vote capturing opportunity for far-right political parties, which have brought Euroscepticism to the EU’s doorstep through election to the European Parliament (EP). Furthermore, because of their ability to emphasize these deeply rooted economic, political, and cultural disparities, far-right eurosceptic Members of European Parliament (MEPs) exacerbate Euroscepticism in a self-sustaining cycle that both internally and externally threatens EU legitimacy and, if left unaddressed, the very future of European integration.
  • Topic: International Affairs, Brexit
  • Political Geography: Europe
  • Author: Mikkel Barslund, Matthias Busse
  • Publication Date: 06-2017
  • Content Type: Working Paper
  • Institution: Centre for European Policy Studies
  • Abstract: The British economy has always been able to rely on a continuous inflow of high-skilled workers from the rest of the EU and the UK is currently home to over three million EU citizens and. As a result of the UK’s decision to leave the European Union, however, the image of the UK in the eyes of foreign workers may have become tarnished. By using LinkedIn data, the authors of this study analyse the movements of IT professionals between the EU and the UK and thereby illustrate what is at stake for the UK, as exemplified by this particular ‘shortage sector’. LinkedIn data show that on an annual basis the UK gains over 6,000 IT experts more than it loses to the EU. Moreover, these mobile IT professionals tend to be much more qualified than domestic IT experts are. This reliance on the EU for IT recruitment – one in ten new hires comes from the EU – suggests that even if the UK is not aiming to restrict high-skilled immigration, curbing overall immigration could have unintended negative consequences for its capability to attract talented EU nationals in the future. The UK government should perhaps bear this in mind during negotiations with the EU27.
  • Topic: Science and Technology, Brexit
  • Political Geography: Europe
  • Author: Spiros Bamiatzis
  • Publication Date: 06-2017
  • Content Type: Working Paper
  • Institution: Hellenic Foundation for European and Foreign Policy (ELIAMEP)
  • Abstract: Europe, and most importantly, Western Europe has become a fertile ground for ISIS recruits. Western Muslim Europeans have been making the trip to Syria and Iraq, filling in the ranks of ISIS, and back. Western intelligence agencies are faced with multiple challenges: what is the level of threat those war hardened returned fighters represent to public safety? Can these returned jihadists become de- radicalized and re-enter the society, without killing anybody that does not agree with their ideology? The purpose of this study is to present to counter-terrorism policy makers, the reasons Western European Muslims born and converted become radicalized, by presenting the psychological factors that contribute to the radicalization of the Western European Youth, towards jihadism. Furthermore, by using the Freudian splitting of the Id, the Ego, and the Superego, it examines how Muslim extremists using tenants of the Muslim faith are influencing the psychic of the youth toward radicalization, as the only true expression of the Muslim faith. This study also examines, how fundamentalism impacts the minds of “believers” and castigates everybody else that is considered a “non-believer”, while influencing the path of a young mind towards his or her becoming the defender of the Ummah, or the Muslim community at large. Finally, what lessons security agencies can learn and apply towards, before a youth becomes radicalized and then jihadist and makes the trip to ISIS fold, and after the return of the well grown jihadist by now, back to European society.
  • Topic: Terrorism, Violent Extremism
  • Political Geography: Europe
  • Author: Fabian Zuleeg
  • Publication Date: 07-2017
  • Content Type: Working Paper
  • Institution: European Policy Centre
  • Abstract: The Brexit negotiations continued this week with the UK government still insisting that the endpoint be an exit from the EU, including its Customs Union and the Single Market. But back in Britain, the turmoil is obvious, with different members of government taking diverging views, suggesting, at times, that a soft Brexit or a transition arrangement might be possible, even if it means concessions on the role of the European Court of Justice (ECJ), the exit payment, the rights of EU citizens and even (temporarily) continued freedom of movement of EU citizens.
  • Topic: Europe Union, Brexit
  • Political Geography: Europe
  • Author: Uuriintuya Batsaikhan, Robert Kalcik, Dirk Schoenmaker
  • Publication Date: 02-2017
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: London is an international financial centre, serving European and global clients. A hard Brexit would lead to a partial migration of financial firms from London to the EU27 (EU minus UK) to ensure they can continue to serve their EU27 clients. Four major cities will host most of the new EU27 wholesale markets: Frankfurt, Paris, Dublin and Amsterdam. These cities have far fewer people employed in finance than London. Moreover, they host the European headquarters of fewer large companies. The partial migra- tion of financial firms will thus have a major impact on these cities and their infrastructures. Banks are the key players in wholesale markets. United States and Swiss investment banks, together with one large German and three large French banks, will make up the core of the new EU27 wholesale markets. Some Dutch, Italian and Spanish banks are in the second tier. The forex, securities and derivatives trading markets are now in London. We map the current, limited market share of the four major cities that might host the EU27 client business. The expected migration of financial trading will lead to a large increase in trading capacity (eg bank trading floors). Clearing is the backbone of modern financial markets. A comparative overview of clearing facilities in the EU27 shows that Germany and France have some clearing capacity, but this will need to be expanded. The ownership of clearing is often intertwined with stock exchanges. Were the planned LSE-Deutsche Börse merger to go ahead, LSE would sell the Paris subsidiary of its clearinghouse. In terms of legal systems, there is an expectation that trading activities will be able to continue under English contract law, also in the EU27. A particular challenge is to develop FinTech (financial technology) in the EU27, as this innovative part of the market is currently based in London. We estimate that some 30,000 jobs might move from London to the EU27. This will put pressure on the facilities (infrastructure, offices, residential housing) in the recipient cities. The more the European Union market for financial services is integrated, the less need there will be for financial firms to move to one location, reducing the pressure for all facilities to be in one city (see Sapir et al, 2017, which is a companion piece to this paper).
  • Topic: International Political Economy, International Trade and Finance, Brexit
  • Political Geography: Britain, Europe
  • Author: Maria Demertzis, André Sapir, Guntram Wolff
  • Publication Date: 02-2017
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: The United States is the European Union’s most important trade and bilateral investment partner, which has, until now, supported a multilateral trade system and European integration and has provided a security guarantee to the countries of the EU. But like other advanced economies, the US’s relative weight in the global economy has declined. The new US administration seems intent on replacing multilateralism with bilateral deals. In trade, it aims to secure new trade deals in order to reduce bilateral trade deficits and to protect, in particular, the US manufacturing sector. In climate policy, the US commitment to the Paris Agreement is being questioned. In defence, the security umbrella appears less certain than previously. The overall promise behind this change of direction is to put ‘America first’ and deliver better results for US citizens.
  • Topic: International Political Economy, International Trade and Finance, Bilateral Relations, Multilateral Relatons, Political stability
  • Political Geography: Europe, United States of America
  • Author: Andre Sapir, Dirk Schoenmaker, Nicolas Veron
  • Publication Date: 02-2017
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: The United Kingdom’s exit from the European Union creates an opportunity for the remaining EU27 to accelerate the development of its financial markets and to increase its resilience against shocks. Equally, Brexit involves risks for market integrity and stability, because the EU including the UK has been crucially dependent on the Bank of England and the UK Financial Conduct Authority for oversight of its wholesale markets. Without the UK, the EU27 must swiftly upgrade its capacity to ensure market integrity and financial stability. Furthermore, losing even partial access to the efficient London financial centre could entail a loss of efficiency for the EU27 economy, especially if financial developments inside the EU27 remain limited and uneven.
  • Topic: Economics, International Political Economy, International Trade and Finance, Political stability, Brexit
  • Political Geography: Britain, Europe
  • Author: Robert Kalcik, Guntram Wolff
  • Publication Date: 01-2017
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: Brexit offers a political opportunity for the European Parliament to reform the allocation of seats to member states. This Policy Contribution explores different options for reform and their implications for equality of representation and distribution of seats to countries, within the constraints set by the EU treaties.
  • Topic: International Organization, International Affairs, Political Theory, European Union, Democracy, Brexit
  • Political Geography: Europe
  • Author: Zsolt Darvus
  • Publication Date: 01-2017
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: The ‘poverty’ target set by the European Commission aims to lift “over 20 million people out of poverty” between 2008 and 2020 in the EU27. Progress to date against this target has been disappointing. Why is it so hard to reach the Europe 2020 ‘poverty’ target? What does the poverty indicator actually measure?
  • Topic: Economics, International Political Economy, International Trade and Finance, Poverty
  • Political Geography: Europe
  • Author: Mikkel Runge Olesen, Matthew Hinds
  • Publication Date: 01-2017
  • Content Type: Policy Brief
  • Institution: Danish Institute for International Studies
  • Abstract: The election of Donald Trump as US president was met with considerable unease in Europe. This has not least been the case among those who, like the UK and Denmark, consider themselves among America’s closest allies. In the policy brief, Matthew Hinds and Mikkel Runge Olesen take stock of the US special relationships in Europe – large and small. In the policy brief they discuss both the classical “Special Relationship” between the US and the UK, as well as the US-Danish relationship, as an example of a small power that has chosen to give the relationship to the superpower premium priority. Hinds and Runge Olesen find that Trump may destabilize relations, but also that he may open up for new opportunities as well – especially for the UK.
  • Topic: International Relations, International Affairs
  • Political Geography: Britain, America, Europe
  • Author: Hamza Meddeb
  • Publication Date: 01-2017
  • Content Type: Policy Brief
  • Institution: European Council On Foreign Relations
  • Abstract: Six years since the revolution, the success of democracy in Tunisia depends on those parts of the country where the popular uprising began: its ‘periphery’, whose regions lag far behind the country’s economically more developed coast. Tunisia’s periphery regions suffer from weak economic growth and high levels of poverty and unemployment – a legacy of decades of underinvestment. Regional conflict, terrorism and organised crime have led the government to crack down on security threats in the periphery regions. This has disrupted the informal and illegal economic networks on which much of the population relies and caused it to lose faith in the government. Tunisia has enjoyed extensive support from international partners since 2011 – money is not the problem. Instead, the country must strengthen its regional governance and address fragmentation at the heart of government. Europeans can radically alter the terms of debate by offering Tunisia membership of the European Economic Area, galvanising change in support of its journey towards democracy and stability.
  • Topic: International Relations
  • Political Geography: Europe
  • Author: Claire Dhéret, Marco Giuli
  • Publication Date: 06-2017
  • Content Type: Policy Brief
  • Institution: European Policy Centre
  • Abstract: Energy poverty, defined as the "inability to afford basic energy services such as adequate warmth, cooling, lighting and the energy to power appliances due to a combination of low income, high energy expenditure and poor energy efficiency of dwellings",2 has recently been on the radar of policymakers, leading to some efforts in tackling the issue. Yet, developing adequate policy solutions has remained difficult both at the national and European level, not least due to the complexity and the multidimensional nature of the phenomenon and the limited competences of the European Union (EU) in the social area. Thus, despite some positive developments, there still is a long journey towards eradicating energy poverty. This paper presents some milestones along the way and recommendations for the future.
  • Topic: Climate Change, Energy Policy
  • Political Geography: Europe
  • Author: Luis Simón, Vivien Pertusot
  • Publication Date: 01-2017
  • Content Type: Commentary and Analysis
  • Institution: Elcano Royal Institute
  • Abstract: Europe’s southern neighbourhood is a diverse but interlinked geopolitical ensemble, whose specificities need to be carefully assessed before Europeans devise dedicated security strategies, divide responsibilities and make policy decisions. This exercise in geopolitical scoping seeks to make sense of the main security challenges present in Europe’s broader European neighbourhood, a space encompassing areas as diverse as the Gulf of Guinea, the Sahel, North Africa, the Levant and the Persian Gulf. It identifies (some of) the main sub-regions that make up the ‘South’, offers an overview of the threat environment in each of them and identifies relevant differences as well as common themes. In doing so we aim to provide a conceptual referent for further policy research on the security of Europe’s ‘South’, and to help inform future strategic and policy discussions within the EU, NATO and their Member States.
  • Topic: International Security, International Affairs, Geopolitics
  • Political Geography: Europe, Global Focus
  • Author: Elspeth Guild
  • Publication Date: 05-2017
  • Content Type: Commentary and Analysis
  • Institution: Centre for European Policy Studies
  • Abstract: The task of finding a solution to the legal status of non-British EU citizens living in the UK after Brexit is exercising the best minds in the European Union at the moment. As the European Council (Art. 50) guidelines for Brexit negotiations rightly underline, “The United Kingdom's decision to leave the Union creates significant uncertainties that have the potential to cause disruption,…Citizens who have built their lives on the basis of rights flowing from the British membership of the EU face the prospect of losing those rights”. These guidelines also place special emphasis on the priority to ensure reciprocal guarantees in safeguarding the rights derived from EU law of EU and UK citizens and their families affected by Brexit, effective from the date of withdrawal. The latest idea floating in the media is that the UK should naturalise the non-British EU nationals living there (possibly numbering 3 million) as British citizens. This solution has been commonly called “giving them all passports”, but for an individual to qualify for a passport, s/he must hold the nationality of the state of issuance. Is this a serious policy option? It is certainly original and has the benefit of shifting the burden of dealing with this question back onto the UK – enlarge your population and keep good relations with your neighbours. But there are at least four challenging questions that deserve careful consideration.
  • Topic: Citizenship, Brexit
  • Political Geography: Europe
  • Author: Michael Emerson
  • Publication Date: 03-2017
  • Content Type: Commentary and Analysis
  • Institution: Centre for European Policy Studies
  • Abstract: A team of economists at CEPS was commissioned by the Policy Department on Economic and Scientific Policies for the Committee on Internal Market and Consumer Protection to assess the likely economic impact of Brexit on EU27, together with some scenarios for the terms of the UK’s secession. For the EU 27, the losses were found to be virtually insignificant, and hardly noticeable in the aggregate. For the UK, however, the losses could be highly significant, with various estimates running up to ten times greater as a share of GDP. Impacts on some member states – in particular Ireland – and some sectors in the EU27 could be more pronounced than the average for the EU27. Michael Emerson is Associate Senior Research Fellow, Matthias Busse is Researcher, Mattia Di Salvo is Research Assistant, Daniel Gros is Director and Jacques Pelkmans is Senior Research Fellow – all at CEPS.
  • Topic: Economics, Brexit, Global Political Economy
  • Political Geography: Europe
  • Author: Daniel Gros
  • Publication Date: 06-2017
  • Content Type: Commentary and Analysis
  • Institution: Centre for European Policy Studies
  • Abstract: For years, the eurozone has been perceived as a disaster area, with discussions of the monetary union’s future often centred on a possible breakup. When the British voted to leave the European Union last year, they were driven partly by the perception of the eurozone as a dysfunctional and possibly unsalvageable project. Yet, lately, the eurozone has become the darling of financial markets – and for good reason. The discovery of the eurozone’s latent strength was long overdue. Indeed, the eurozone has been recovering from the crisis of 2011-12 for several years. On a per capita basis, its economic growth now outpaces that of the United States. The unemployment rate is also declining – more slowly than in the US, to be sure, but that partly reflects a divergence in labour-force participation trends.
  • Topic: International Political Economy, International Trade and Finance
  • Political Geography: Europe
  • Author: Alison Hunter
  • Publication Date: 07-2017
  • Content Type: Commentary and Analysis
  • Institution: European Policy Centre
  • Abstract: Introduced as an ex ante conditionality in the 2014-2020 Cohesion Policy, Smart Specialisation Strategies (S3) require regions to develop smart priorities and direct investment efforts towards growth-oriented innovation. In the space of only four years, S3 has become widely regarded as a success story across the Cohesion Policy community, as a place-based driver of EU competitiveness. For some regions, it has offered scope to deepen existing practices. For others, S3 has introduced new approaches to achieving innovation-oriented growth. There is, however, quite some distance to cover if S3 is to accelerate its support role in delivering EU growth and investment. This would require redefining the role of S3 and re-positioning this in the post-2020 Multi-annual Financial Framework (MFF).
  • Topic: Europe Union, Global Political Economy
  • Political Geography: Europe
  • Author: Andrew Duff
  • Publication Date: 07-2017
  • Content Type: Commentary and Analysis
  • Institution: European Policy Centre
  • Abstract: Following the start of the Brexit negotiations on 19 June, Andrew Duff reviews the state of play, namely the discussions on EU citizens’ rights, the Irish border, the financial commitments and the future role of the ECJ. He welcomes the Commission’s proposal to create a Joint Committee to manage the actual exiting process. Duff regrets the irresolution on the British side, which hampers the possibility to define the future relationship with the European Union and consequently the transitional arrangements that UK business so badly needs. Given the UK’s state of confusion after the electoral results of 2016 and 2017, he suggests that the EU must make an offer to London on the basis of a wider reflection on the future not just of the smaller European Union but of the wider Europe.
  • Topic: International Political Economy, Brexit
  • Political Geography: Europe