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8101. Does environmental policy uncertainty hinder investments towards a low-carbon economy?

Author:
Joëlle Noailly, Laura Nowzohour, and Matthias Van Den Heuvel
Publication Date:
08-2022
Content Type:
Working Paper
Institution:
Centre for International Environmental Studies, The Graduate Institute (IHEID)
Abstract:
We use machine learning algorithms to construct a novel news-based index of US environmental and climate policy uncertainty (EnvPU) available on a monthly basis over the 1990-2019 period. We find that the EnvPU index spikes during the environmental spending disputes of the 1995-1996 government shutdown, in the early 2010s due the failure of the national cap-and-trade climate bill and during the Trump presidency. We examine how elevated levels of environmental policy uncertainty relate to investments in the low-carbon economy. In firm-level estimations, we find that a rise in the EnvPU index is associated with a reduced probability for cleantech startups to receive venture capital (VC) funding. In financial markets, a rise in our EnvPU index is associated with higher stock volatility for firms with above-average green revenue shares. At the macro level, shocks in our index lead to declines in the number of cleantech VC deals and higher volatility of the main benchmark clean energy exchange-traded fund. Overall, our results are consistent with the notion that policy uncertainty has adverse effects on investments for the low-carbon economy hindering progress to address the urgency of climate action.
Topic:
Environment, Finance, Economy, Investment, Institutions, and Decarbonization
Political Geography:
Global Focus

8102. Cumulative Climate Shocks and Migratory Flows: Evidence from Sub-Saharan Africa

Author:
Salvatore Di Falco, Anna B. Kis, and Martina Viarengo
Publication Date:
02-2022
Content Type:
Working Paper
Institution:
Centre for International Environmental Studies, The Graduate Institute (IHEID)
Abstract:
We re-examine the effects of negative weather anomalies during the growing season on the decision to migrate in rural households in five sub-Saharan African countries. To this end we combine a multi-country household panel dataset with high-resolution gridded precipitation data. We find that while the effect of recent adverse weather shocks is on average modest, the cumulative effect of a persistent exposure to droughts over several years leads to a significant increase in the probability to migrate. The results show that more frequent adverse shocks can have more significant and long-lasting consequences in challenging economic environments.
Topic:
Climate Change, Migration, Urban, Rural, and Economic Development
Political Geography:
Sub-Saharan Africa

8103. Introducing Third Way’s US-China Digital World Order Initiative

Author:
Valerie Shen and Jayson Browder
Publication Date:
06-2022
Content Type:
Working Paper
Institution:
Third Way
Abstract:
If it wasn’t clear three months ago, it is clear now: the next global era will be defined by democracy versus autocracy. In this competition, a new and decisive divide pits America’s approach of “digital democracy” against China’s approach of “digital autocracy.” This great divide places the US and allies on one side and China's unfettered access to sensitive data on the other. China’s digital authoritarianism has been described as "one giant QAnon" and is ubiquitous among the 1.4 billion inhabitants of the country. Moreover, one of the greatest threats to American national security interests is if China prevails in exporting and normalizing its model of digital supremacy. China’s global network of surveillance systems is antithetical to liberal democratic values, as it monitors, punishes, and conditions citizens, as well as influences them through automated disinformation campaigns. China’s ambition for global digital supremacy is real and supported by aggressive diplomatic efforts and massive financial investments. The effort by the United States and like nations to maintain a peaceful and prosperous world order will require a level of sophistication and commitment unrivaled in our history. China is not only an adversary. It is sometimes a partner whose massive economy is deeply entwined with that of the US and other friendly nations. This is not the zero-sum game of the Cold War conflict, and the hope is that it never becomes so. Will liberal democracies strengthen and proliferate or weaken and dwindle in the 21st century? The Chinese state intends to shape the global digital order in its image by redrawing technological norms and standards. Ultimately, the US-China national security competition may hinge on who sets the digital world order.
Topic:
Science and Technology, Authoritarianism, Democracy, Digital Economy, Innovation, and Rivalry
Political Geography:
China, Asia, North America, and United States of America

8104. Chinese Surveillance Devices: Coming to a Neighborhood Near You

Author:
Jayson Browder, Valerie Shen, and Mike Sexton
Publication Date:
06-2022
Content Type:
Commentary and Analysis
Institution:
Third Way
Abstract:
The Chinese government conducts cyber espionage against the US on an unprecedented scale. Senior US intelligence officials have warned the “Internet of Things” is a US counterintelligence and cybersecurity vulnerability. Tens of billions of connected physical devices from Chinese-made webcams to “smart” appliances could be exploited at scale by the Chinese intelligence services. In 2016, the malware “Mirai” was able to weaponize more than half a million devices in a Denial-of-Service attack causing a massive East Coast Internet outage. Unaddressed, these threats will only increase as China exports surveillance devices around the world.
Topic:
Science and Technology, Cybersecurity, Surveillance, and Innovation
Political Geography:
China and Asia

8105. Three Reasons Why CHIPS-plus is a Big Win for US National Security

Author:
Tom Klein
Publication Date:
08-2022
Content Type:
Commentary and Analysis
Institution:
Third Way
Abstract:
On August 9th, 2022, President Biden signed vital bipartisan legislation to compete with China. H.R. 4346, called the CHIPS and Science Act or “CHIPS-plus,” would pave the way for nearly $280 billion in incentives to boost US-based chip manufacturing, scientific research, technology standards setting, and STEM education. These initiatives directly protect our immediate security vulnerabilities in the US military and support our long-term national security competition with China by promoting democratic norms and spurring critical defense innovations.
Topic:
Security, National Security, Science and Technology, Military Strategy, Innovation, and CHIPS
Political Geography:
China, Asia, North America, and United States of America

8106. World Economy Autumn 2022: Global growth falters

Author:
Klaus-Jurgen Gern, Ulrich Stolzenburg, Nils Sonnenberg, Stefan Kooths, and Jan Reents
Publication Date:
09-2022
Content Type:
Working Paper
Institution:
Kiel Institute for the World Economy (IfW)
Abstract:
In spring 2022, world economic growth came to a standstill amid high inflation, persistent supply bottlenecks and elevated uncertainty. In many countries real wages are declining significantly dampening private consumption even though extra savings accumulated during the pandemic are still available to mitigate the adverse impact to some extent. At the same time financial conditions have also deteriorated as central banks tightened their policies. In China, the strict zero-covid policy and problems in the real estate sector are slowing economic activity. Against this backdrop, the outlook for the global economy has deteriorated further. We have, again, lowered our forecast and are now expecting global output to increase by only 2.9 percent this year and 2.2 percent next year (calculated on a purchasing power parity basis). The forecast assumes that commodity prices will gradually decline in line with forward prices, which will over time reduce the upward pressure on prices and provides the foundations for an economic upturn in 2024. However, the pass-through of higher commodity prices into consumer prices is probably not yet complete and wage increases are likely to intensify in many countries. Consequently, underlying inflation is likely to remain higher than in the years before the Covid crisis and remain above central bank targets over the forecast horizon
Topic:
Economics, Globalization, Economic Growth, and COVID-19
Political Geography:
Global Focus

8107. German Economy Summer 2022: Slowly progressing recovery

Author:
Jens Boysen-Hogrefe, Nils Jannsen, Saskia Meuchelbock, Dominik Groll, Stefan Kooths, and Nils Sonnenberg
Publication Date:
06-2022
Content Type:
Working Paper
Institution:
Kiel Institute for the World Economy (IfW)
Abstract:
The German economy navigates troubled waters. The catch-up process in the contact-intensive service industries is continuing at a fast pace and companies in the manufacturing sector are sitting on well-filled order books. However, high inflation is reducing the purchasing power of disposable incomes and thus dampening the recovery in consumption. In addition, supply bottlenecks have recently worsened again due to the war in Ukraine. As a result, the recovery will regain strength only in the second half of the year, when prices will no longer rise as rapidly and supply bottlenecks will begin to ease. Overall, we expect GDP to increase by 2.1 percent this year, as in our spring forecast. In 2023, GDP will grow by 3.3 percent (spring forecast: 3.5 percent). At 7.4 percent, inflation in the current year will be higher than ever before in reunified Germany. Next year, inflation will probably remain high with 4.2 percent. The recovery in employment continues. Effective earnings will rise strongly, also because labor shortages have reached an all-time high. In the current year, however, the increase of about 5 percent will lag behind the rate of inflation. Public budget deficits will decline as revenues increase strongly and pandemic-related expenditures are reduced. In 2023, public debt in relation to GDP is expected to be slightly above 60 percent.
Topic:
Economics, GDP, Inflation, and Russia-Ukraine War
Political Geography:
Europe and Germany

8108. World economy in summer 2022: Inflation is curbing global growth

Author:
Klaus-Jurgen Gern, Ulrich Stolzenburg, Nils Sonnenberg, Stefan Kooths, and Jan Reents
Publication Date:
06-2022
Content Type:
Working Paper
Institution:
Kiel Institute for the World Economy (IfW)
Abstract:
In a situation with already elevated inflation, the war in Ukraine and the zero-covid policy in China have led to additional upward pressures on prices and reinforced the global supply chain problems. Real wages are declining in many countries, dampening personal consumption expenditures even though households are often able to draw from a substantial amount of extra savings accumulated during the pandemic. Given the widespread inflationary pressures, central banks have shifted towards a more restrictive monetary policy stance. Against this backdrop, the outlook for global growth has weakened. We forecast global growth of 3.0 percent in 2022 and 3.2 percent in 2023 (measured in terms of purchasing-power parities), representing a reduction by 0.5 and 0.4 percentage points for 2022 and 2023, respectively. The forecast is based on the assumption that commodity prices have peaked, which would reduce inflationary pressures considerably going forward. However, there is the risk that inflation proves to be more persistent than central banks expect. In such a case, central banks would need to step on the brakes more than assumed, with the risk of a recession in advanced economies and a pronounced deterioration in financial conditions in emerging markets
Topic:
Security, Economics, Inflation, COVID-19, and Russia-Ukraine War
Political Geography:
Global Focus

8109. German Economy Spring 2022: Recovery at risk – Soaring Inflation

Author:
Jens Boysen-Hogrefe, Nils Jannsen, Saskia Meuchelbock, Jan Reents, Dominik Groll, Stefan Kooths, Martin Ademmer, and Nils Sonnenberg
Publication Date:
03-2022
Content Type:
Working Paper
Institution:
Kiel Institute for the World Economy (IfW)
Abstract:
The German economy is once again facing strong headwinds. The war in Ukraine is leading to rising commodity prices, new supply bottlenecks and dwindling sales opportunities. These factors will affect the German economy in different ways. Higher commodity prices reduce the purchasing power of disposable incomes and thus dampen private consumption. Moreover, new supply bottlenecks will dampen industrial production in the coming months. Finally, sales opportunities will deteriorate at least temporarily due to the sanctions and the increased uncertainty caused by the war. All this is hitting the economy in a phase in which the dampening effects of the pandemic are fading out and a strong recovery has begun to emerge. The dampening factors are cushioned because private households have accumulated large amounts of extra savings since the beginning of the pandemic, so that high inflation does not fully impact private consumption. In addition, industrial firms have an unusually high stock of orders, which will cushion the temporarily lower sales opportunities. As a result, the recovery is likely to continue this year, albeit at a noticeably slower pace than expected in winter. Overall, we now expect GDP to rise by 2.1 percent in this year (winter forecast: 4 percent) and by 3.5 percent in 2023 (winter forecast: 3.3 percent). With 5.8 percent inflation is likely to be higher this year than ever before in reunified Germany. Even if commodity prices stop rising and supply bottlenecks gradually ease, inflation is still likely to be unusually high at 3.4 percent next year, also because recent producer price increases are only gradually being passed through to consumers. The labor market is expected to remain robust. Public spending will rise in response to the war and its economic consequences, so that budget deficits will remain at elevated levels for a longer period.
Topic:
Economics, GDP, Inflation, and Purchasing Power
Political Geography:
Europe and Germany

8110. Russia-Ukraine: Dangerous Stalemate

Author:
European Institute of Peace
Publication Date:
02-2022
Content Type:
Working Paper
Institution:
European Institute of Peace (EIP)
Abstract:
Seven years have passed this month since the Package of Measures for implementation of the Minsk agreements called for an “immediate and comprehensive ceasefire in certain areas of the Donetsk and Luhansk regions of Ukraine and its strict implementation…”. Despite endorsement by the UN Security Council Resolution 2202 (February 2015), little or no progress was made in implementing the Minsk agreements, with continued conflict and violations of the ceasefire reported by the OSCE Special Monitoring Mission to Ukraine (SMM) on an almost daily basis. Almost 14.000 Ukrainians lost their lives, thousands more were injured, and millions displaced. With no effective ceasefire in place, this is not a “frozen conflict,” and violent escalation may happen by intent, misunderstanding or miscalculation. Today an even more dangerous stalemate has emerged. Deep international concerns have been raised about the reported Russian military build-up along the country’s borders with Ukraine. Further raising the stakes, broader security issues have re-surfaced with Moscow demanding inter alia guarantees from the US and NATO to refrain from any further enlargement of the alliance, including the accession of Ukraine and other states. Despite intensive and on-going international consultations at all levels, there are no signs yet of de-escalation of the crisis. This report has been prepared in consultation with a group of Ukrainian and Russian experts who have been conducting quiet discussions during the past two years on the Minsk peace process and, more broadly, relations between the Russian Federation and Ukraine. These talks are held under the auspices of the European Institute of Peace.[1] Out of deep concern with present developments, it was decided to share more widely the broad consensus among the participants about the urgent need for a sustainable and durable ceasefire as a prerequisite for implementing the Minsk agreements. In a recent encouraging development, the advisers to the Normandy Four (N4) heads of state and government have supported in a joint statement after their meeting in Paris “unconditional observance of the ceasefire of 22 July 2020 regardless of differences on other issues of the implementation of the Minsk agreements.”[2] Reportedly, a follow-up meeting in Berlin on 10 February 2022 yielded no tangible results yet. Even if the Minsk peace process has come to a ground halt at present, it should be realized that the same political and security issues will have to be addressed in any renewed peace efforts in whatever format to restore peace in east Ukraine. This report highlights that any attempt to overcome the current political stalemate needs to be supported by concrete steps to establish a sustainable ceasefire at the ground-level of the conflict. The report analyses the major reasons for why a sustainable ceasefire was not implemented thus far, and offers a ceasefire management tool referred to as a “Coordination and Verification Mechanism” (CVM).
Topic:
Military Strategy, Violence, Peace, and Russia-Ukraine War
Political Geography:
Russia, Europe, and Ukraine

8111. Local Self-0Government in a Crisis Caused by the COVID-19 Pandemic: The Case of Serbia

Author:
Samed Karovic, Sinisa Domazet, and Jelena Jesic
Publication Date:
02-2022
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
This research examined whether there is an elaborate system of protocols, protection, and prevention in place at the local self-government level in the event of a crisis caused by an epidemic or pandemic. The core idea of this paper was to evaluate the protocol's effectiveness at the local self-government. Analysis was conducted using responses of 16 local self-government authorities. During a crisis caused by an epidemic/a pandemic of infectious illnesses, surveys were done as a cross-section documenting and detecting the current state of local self-government functioning. Methods used in the study are defining the objectives of the research, conceptualization, analysis of legal regulations, economic analysis, and decomposition of the problem. Key results and arguments of this paper expanded existing research thus there are only certain empirical data from areas that have been affected by the infectious disease caused by the epidemic/pandemic. Data was collected, processed, and systematized to serve in model formulation. As a brief conclusion, this study suggested protocol effectiveness at the local self-government level representing the idea that emergency and crisis management should be organized to preserve the health and livelihood of the population in the area affected by the pandemic of infectious diseases and thus enable the functioning of economic activities and society as a whole.
Topic:
Government, Leadership, Local, Pandemic, and COVID-19
Political Geography:
Europe and Serbia

8112. The Impact of Corporate Governance And Its Consequences On Protecting The Bank's Assets: Empirical Evidence From Kosovo Banks

Author:
Esat A. Durguti and Emine Q. Gashi
Publication Date:
02-2022
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
This study aims to analyze the relationships between corporate governance instruments on the wealth of financial intermediaries in wide-ranging. The data employed in this study are secondary data from nine (9) commercial banks and covered the years 2013-2020. The approach used in data processing is a 2SLS estimation and multilevel mixed-effects for the dependent variable natural logarithm of total assets. The results provided by the econometric analysis show that board size, sovereign committees, Net Interest Margin (NIM), Non-Performing Loans (NPL’s), and equity to liabilities have an important impact on the protection of the assets of financial institutions. While surprising results have been generated in the composition of the board structure in terms of gender diversity, they have turned out to be insignificant. The originality and value of this study lie in the approach of including the characteristics of the board, as well as the combination of some financial indicators different from previous studies, which makes more comprehensive the study of the impact of board composition on increasing the wealth of banks.
Topic:
Governance, Finance, Banks, and Corporate Governance
Political Geography:
Europe, Kosovo, and Serbia

8113. The Challenging Factors Affecting Women Entrepreneurial Activities

Author:
Rimsha Khalid, Mohsin Raza, Anusara Sawangchai, and Chanyanan Somtawinpongsai
Publication Date:
02-2022
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
The purpose of this study is to investigate the factors such as access to finance, legal constraints, and entrepreneurial skill on women's participation in business activities. The mediating effects of self-leadership were also established as an influence on women's participation in business activities. Moreover, the study examined the moderating effect of education among self-leadership and participation of women in entrepreneurial activities. The study selected a quantitative method and structured questionnaire for the data collection. The study found a significant relationship of the effect of access to finance, legal constraints, and entrepreneurial skill with women's participation in entrepreneurial activities. Moreover, the study found a significant mediating effect of self-leadership between factors and women's participation in entrepreneurial activities as well as a significant moderating effect of education between self-leadership and participation of women in entrepreneurial activities. The study suggests that the government and other institutions should take the initiative in women's entrepreneurship that affects women's self-leadership skills. The policymakers should pay attention to the financial concerns of women in business activities.
Topic:
Education, Women, Entrepreneurship, Legal Sector, and Gender
Political Geography:
Global Focus

8114. The Current Migrant and Refugee Crisis in Europe: Refugee Reception Centers in South-East Bulgaria

Author:
Rossen Kostadinov Koroutchev and Kalin Peev
Publication Date:
02-2022
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
In this paper, we analyzed the current refugee crisis in Europe by discussing its main characteristics within the European context. A comparison between the different routes in Western, Central, and Eastern Mediterranean, the Western Balkans, and in general in South-Eastern Europe was done. As the main research problem, we focused on Bulgaria as an entry gate for the arriving immigrants and we presented the most recent statistics related to the illegal entries in the country. Among our objectives was the analysis of the current problems at the reception centers in the South-Eastern part of Bulgaria. An important part of our methodology consisted of direct interviews performed with the local and immigrant population at the center of Harmanli. The key results of our analysis showed that despite the attempts on the part of the officials for successful integration of the immigrants, there were still important needs for improvement. In conclusion, we suggested that the use of good practices from other countries with experience in migration policies might contribute to better integration and improvement of the mutual respect between local and migrant populations.
Topic:
Migration, Immigration, Refugee Crisis, and Borders
Political Geography:
Europe and Bulgaria

8115. Social Capital And Its Changes In Armenia: Challenges and Expectations

Author:
Albert Hayrapetyan and Liana Isayan
Publication Date:
02-2022
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
Social capital was the Achilles’ heel of the economic competitiveness of Armenia. In the meantime, the country made significant progress in solidifying it since the Velvet Revolution. In this article, we tried to present and analyze those elements of social capital which demonstrated significant progress in post-revolutionary Armenia, as well as the changes thereof. For that purpose, we have formulated the following research questions: What factors led to this growth, and what factors still lag? What hidden challenges can be observed through factual indicators which probably resulted from the slight decrease in the updated scores? What changes can be expected from the turbulent world and in the post-war society? The applied methodology is quantitative. In particular, to answer the research questions we used index analysis, graphic analysis, and comparison, correlation analysis techniques, pared t-test of the mathematical-statistical significance of changes, and Principal Component Analysis. The results of the analysis showed that a significant increase in the level of social capital was recorded in post-revolutionary Armenia, which was mainly due to the progress in institutional trust. Nevertheless, some revealed anomalies and encountered challenges undermined the archived progress in the growth of trust. Therefore, we put forward several recommendations.
Topic:
Economics, Pandemic, Social Capital, and COVID-19
Political Geography:
Europe and Armenia

8116. The Impact of Demographic Factors in Consumer Purchasing Preferences in Developing Countries: Empirical Evidence From Kosovo

Author:
Faruk Ahmeti
Publication Date:
02-2022
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
This paper analyses the role and the level of impact that different demographic factors have on buying preferences during the selection process between local and imported goods in developing and emerging economies, with a specific focus on the Kosovo region. A total of 630 questionnaires were distributed, from which 536 valid responses and an empirical study is applied to test the hypothesis. A probability sample (randomly selected), which was stratified by seven regions throughout the country was applied, by covering all levels of the society, cultural background, different locations (urban and rural), different levels of education, and income. Some of the respondents have shown a preference for imported goods and were willing to pay a price premium for it based on the quality offered by top producers (around 41.79%). Whereas, 58.21% of respondents prefer local products. It is proven that there is a correlation between demographic factors and buying preferences process when deciding between local and imported products. Whereas, price is considered as the main factor in the buying process in developing countries, due to the low income, whereas the level of imported products depends on the country’s ability to fulfill the local needs with local products.
Topic:
Demographics, Economics, Local, and Consumerism
Political Geography:
Europe and Serbia

8117. Small State Dilemma: Cambodia Between The Asean And China In The Indo-Pacific Context

Author:
Khath Bunthorn
Publication Date:
02-2022
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
As a small state, Cambodia viewed the ASEAN and China as almost equally important pillars of its foreign policy. Amid the intense strategic competition in the Indo-Pacific, Cambodia faced the dilemma of how to maintain the ASEAN centrality without diplomatic cost to its key ally China, and how to balance its national interest with regional interest. In this context, the article aimed to explain the importance of the ASEAN as a cornerstone of Cambodia’s foreign policy, examine the motivations of Cambodia’s deep political embrace of the Asian giant, and underline its implications for the Indo-Pacific from the lens of small state foreign policy. The article was based on qualitative, empirical analysis that comprises primary and secondary data pertinent to the current topic. The article concluded that Cambodia leaned more towards China than it did towards the ASEAN, thus weakening its centrality in driving the broader regional architecture and that domestic politics was the primary driving force of Cambodia’s foreign policy towards that direction. At this juncture, Cambodia should step back from the present degree of its strategic engagement with China and look for ways to diversify its relations with other major powers while getting back on the democratic path and upholding human rights.
Topic:
Security, Diplomacy, Regional Cooperation, and Hegemony
Political Geography:
China, Asia, Cambodia, Indo-Pacific, and ASEAN

8118. Extradition in the Criminal Procedural Legislation of Ukraine:" Compliance With The European Standards

Author:
Victoriia Rohalska, Oksana Bronevytska, and Gediminas Buciunas
Publication Date:
02-2022
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
The importance of legal regulation of extradition in the system of legal aid in criminal proceedings is determined both by the national interests of states and the interests of international cooperation in combating transnational and international crimes. The objective of this paper was to get the answer to the main question of this research - Did the provisions of the law on extradition in Ukraine meet international standards? A set of general and special scientific, and philosophical methods of scientific research were used while preparing this article, to clarify the approaches to the extradition procedure of different countries and in practice. The results of the research suggested that the current criminal procedure legislation of Ukraine in the sphere of extradition generally meets European standards. Although, there are some gaps in the national legal regulation of extradition that may adversely affect the observance of the rights and freedoms of persons to whom it is applied.
Topic:
Human Rights, International Cooperation, International Law, European Union, and Extradition
Political Geography:
Europe and Ukraine

8119. The Current Stage of Basel III Application And Its Consequence On Financial Stability: Evidence From Kosovo

Author:
Muhamet J. Spahiu
Publication Date:
02-2022
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
The study aims to explore the divergences around the implementation of the Basel III agreement, since this agreement is considered the core of the international regulatory response to the financial crisis, setting the strictest criteria for capital structure and risk assessment. This paper explains the current level of legislation that applies in Kosovo, as well as possible divergences with the criteria set by Basel III. It is argued that the national authority, explicitly the CBK, to decide on the implementation of Basel III, had to agree on three aspects and potentially conflicting between them: the stability of the banking sector, competition, and care for economic growth. Finally, the study concluded that Kosovo is implementing Basel III regulations with greater ease and attention, contributing to banking sector stability, competitiveness, and economic growth.
Topic:
Finance, Risk, Financial Stability, and Banking
Political Geography:
Europe and Kosovo

8120. The Power of Small EU Member States After Brexit: How Powerful Is the Visegrad Group?

Author:
Thomas Kajanek
Publication Date:
02-2022
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
The power of individual EU Member States has been changing over the past decades as a result of revisions to the voting systems and the enlargements of the European Union. The present article analyses the development of the voting power of individual Member States in the Council of the European Union before and after the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union. We use the calculation of the standardized Banzhaf power index to calculate the legislative power of the Member States. The calculations recorded in the table point to changes in the weights of national votes caused by Brexit. The article pays special attention to the Visegrad Group, which we define within the European Union as an informal group consisting of four Central European states - the Czech Republic, Hungary, Poland, and the Slovak Republic. The results indicate a significant growth of the voting power in Poland and more moderate growth in the other three Visegrad Group countries which contributes to the shift in the voting equilibrium within the ordinary legislative procedure of the European Union.
Topic:
Regional Cooperation, European Union, Brexit, Regional Power, and Regional Politics
Political Geography:
Europe, Poland, Hungary, and Czech Republic