Yevhen Savelyev
Opening Remarks
Journal of European Economy, Volume 3, Issue 3, September 2004, pp. 237-238
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Nikolas Tsounis, Zaharola Kalogiratou
Dynamic effects of the enlargement on EU manufacturing
Journal of European Economy, Volume 3, Issue 3, September 2004, pp. 239-252
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The paper presents quantitative estimates of the dynamic effects of integration of the entrance of ten Central and Eastern European countries including Malta and Cyprus into the E.U. The dynamic effects of integration were examined using an ex-ante model. The results found by the application of this model suggest that the accession of the ten counties in the EU would have mixed effects in different sectors of the region. The sector that would benefit the most from integration is manufacture of pulp, paper and paper products. Other sectors expected to exhibit positive integration effects are the following: mining and quarrying sector, tanning, dressing of leather; manufacture of luggage, manufacture of medical, precision and optical instruments, watches and clocks, manufacture of furniture, manufacture of chemicals and chemical products and publishing, printing, reproduction of recorded media, for which the total product of the region is expected to decrease. Key words: Enlargement countries, dynamic integration effects. |
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Victor Kozyuk
The inflation-unemployment nexus in the light of globalization
Journal of European Economy, Volume 3, Issue 3, September 2004, pp.253-267
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The paper outlines important globalization-related changes in the macroeconomic sphere on the basis of empiric analysis of the relationship between inflation and unemployment in the most developed countries. The discovered lack of feedback between inflation and unemployment served as a basis for proving, in the course of the last century, that, according to theoretical suppositions, the monetary policy becomes more neutral, which makes it impossible to increase the natural level of employment at the cost of factors that stimulate aggregate demand. The interdependence between inflation and unemployment varies for large and small countries. For the G-7 countries, the stagflationary interdependence between inflation and unemployment is normal; for the small open economies of OECD, this interdependence differs from the one described by the Philips curve, and it is not stagflationary. The author concludes that this situation is conditioned by differing abilities of small open economies to react to production and employment shocks in view of their higher degree of openness and sensitivity to financial upheavals. Key words: Monetary policy, central banks, Philips curve, inflation, unemployment, globalization, openness. |
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Lyubov Krymska
The study of market concentration in the tool-producing industry
Journal of European Economy, Volume 3, Issue 3, September 2004, pp. 268-280
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The author elucidates the interrelation between the concentration of sellers on the market and the level of monopolistic power, and attempts to determine a true level of concentration of the market for metal-cutting tools. Key words: Concentration level and indices, Herfindal-Hirshman index, Lorenz curve, irregularity of market sharing. |
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Olena Sokhatska
Fractal dimension of international futures markets as a reflection of their economic nature
Journal of European Economy, Volume 3, Issue 3, September 2004, pp. 281-310
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The paper analyzes new synergy-based approaches to predicting new pricing tendencies at the international futures markets, and such categories as «attractors», «bifurcation», «deterministic chaos», and «s-fractals». International futures markets are examined as non-linear chaotic systems, the forecasting of their future dynamics with traditional instruments and linear models becoming impossible. In the capacity of an indicator of market tendencies, the author uses the elements of fractal geometry and chaos theory, the fractal dimension in particular. Key words: International futures markets, Hurst indicator, price dynamics, traders, fractal dimension, attractors, fractals, market equilibrium, the theory of non-linear dynamic systems. |
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Dennis D. Miller
Institutional structure for capital attraction: implications for Ukraine's entry into the European Union
Journal of European Economy, Volume 3, Issue 3, September 2004, pp. 311-318
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The author discusses the issues of the most attractive and, as Victor Yushchenko puts it, «peaceful» and quiet climate for attracting foreign capital covered in books by Hernando De Soto and William Easterly who studied the eventual entry of Ukraine into the European Union. Key words: Legal and financial institutions, foreign capital attraction, property rights, incentives, segments of society, private propertied economy, legal standing. |
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Oksana Myhailovska
A study of barrier effects of the border region
Journal of European Economy, Volume 3, Issue 3, September 2004, pp. 319-328
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The author outlines the theoretical aspects of the barrier effect of the border in the case of foreign investments in the border region. The article examines the nature of the barrier effect and singles out its basic components. It analyzes the possible ways of governmental influence upon certain components of the barrier effect in order to decrease it. As one of the most accessible and effective methods considered is the creation of special economic formations in separate regions of the state: free economic areas, territories of priority development, and regions of trans-border cooperation. The article concludes that at the first stage of bringing foreign investment into the economy of Ukraine, it is necessary to implement many measures for trans-border cooperation development. Among the primary are the following: development of border infrastructure; assigning more authority to regional selfgovernments; reduction of minimal amount of investments that gives the right to privileges in free economic areas (FEA) and territories of priority development (TPD) in the border regions and euro-regions. Key words: Foreign investment, border, barrier effect, special economic formations, FEA, TPD, euro-region, trans-border cooperation, integration. |
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Mykola Butko
Forming a new model of Ukrainian foreign economic activity
Journal of European Economy, Volume 3, Issue 3, September 2004, pp. 329-338
Intensification of competition in a globalizing world has naturally raised the problem of the former USSR countries’ competitiveness at macro- and regional levels. The advantages of national economy, its separate industries and enterprises largely predetermine the dynamism of national manufacturing, employment, and well-being in the course of economic rivalry. The level of competitiveness primarily predetermines the economic security, as well as international economic relations of Ukraine in the world economy.
Key words:
Open economy, national economy, international economic relations, competitive market environment, liberalization, protectionist policy, export and import transactions, investment, economic security, clusters.
Key words:
Open economy, national economy, international economic relations, competitive market environment, liberalization, protectionist policy, export and import transactions, investment, economic security, clusters.
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Oleksandr Lyubich, Valentyna Pleskach
New information technologies for creation of electronic government in Ukraine
Journal of European Economy, Volume 3, Issue 3, September 2004, pp. 339-351
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The article defines the essence of the task of forming the e-government in Ukraine and provides schemes of electronic governance. The authors examine the approaches to the concept of e-government development by applying new information technologies in Ukraine and conduct a comparative analysis of foreign experience. Finally, the authors determine the objective of e-government formation and its functioning in Ukraine. Key Words: Electronic democracy, electronic government, electronic voting, governmental portal. |
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Andzhei Rybak
The EU enlargement: in the Europe's backyard
Journal of European Economy, Volume 3, Issue 3, September 2004, pp. 352-355
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