Yevhen Savelyev
Opening Remarks
Journal of European Economy, Volume 3, Issue 4, December 2004, pp.371-373
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No abstract |
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Evangelos Siskos
Export-biased growth and problems of domestic market in post-socialist countries of the Black Sea Economic Cooperation
Journal of European Economy, Volume 3, Issue 4, December 2004, pp.374-387
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This paper analyses the dynamics of foreign trade, real GNI and relative purchasing power parity in the Black Sea Economic Co-operation countries. The stable growth and sustainable economic development of post-socialist BSEC countries requires rejection of export-biased growth pattern and transition to expansionary expenditure-changing policy for domestic market enlargement, local currency appreciation and international public labour cost-based industrial relationships. Relative purchasing power parity may be used as additional indicator in application to expansionary expenditure-changing policies for price and monetary policy amendment. Key words: Black Sea Economic Co-operation (BSEC), export-biased growth, domestic market stimulation, expansionary expenditure-changing policy, high-quality growth. |
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Victor Shevchuk
Interaction between income-GDP and industrial output and external balance in the Eastern European and Baltic countries
Journal of European Economy, Volume 3, Issue 4, December 2004, pp.388-412
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This paper analyses interaction between income (GDP and industrial output) and external balance (current account and trade balance) with the use of OLS and VAR/VEC techniques. Inverse relationship between the two appears to be important, but not unquestionable evidence in favor of intertemporal optimization of private and public consumption as predominant factor of income and external balance interaction. Key words: GDP, industrial output, current account, trade balance, balance-of-payment models, OLS and VAR methods. |
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Bogumila Mucha-Leszko, Oleksandr Honchar
The independence principle and its realisation in the policy of the European Central Bank
Journal of European Economy, Volume 3, Issue 4, December 2004, pp. 413-427
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This paper highlights a role of the European Central Bank’s independence in the process of monetary policy realisation in euro-area. It also includes an analysis and evaluation of the ECB powers. Key words: The European Central Bank; monetary policy of ECB; functional, institutional, personal, financial independence. |
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Vasyl Kostytsky
The law of the permanent concentration of capital: economic and legal problems
Journal of European Economy, Volume 3, Issue 4, December 2004, pp. 428-437
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This paper analyses a historical aspect of the concentration process of production and capital. Based on this analysis, there are conclusions about the law of the permanent concentration of capital. Key words: Capital, types of production, «shadow economy», unfair competition, protectionism policy of a state. |
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Roman Kopych
Evolution of fiscal policy in transformation economies
Journal of European Economy, Volume 3, Issue 4, December 2004, pp. 438-456
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This paper analyses problems in the fiscal policy of the Eastern European countries from the period 1990–2003. Different stages can be interpreted in Eastern European countries` fiscal policy during the course of accession to the EU. Distinct features of the worsening of budget balance in the eve of the entry to the European Union in Poland, Hungary and the Czech Republic are accentuated. The effects of domestic and external factors upon the budget balance are empirically tested. Key words: Fiscal policy, budget balance, euro integration, government debt, optimization of intertemporal consumption. |
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Andriy Chesnokov
The EU enlargement impacts on the Ukrainian economy: correlation of negative and positive factors
Journal of European Economy, Volume 3, Issue 4, December 2004, pp. 457-463
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The paper is about a comparative analysis between positive and negative effects of the EU enlargement on the economy of Ukraine. Several studies conducted by Ukrainian economists highlight a negative impact of the EU enlargement process on the Ukrainian economy in the short run. The current situation in Ukraine and contemporary studies on the structure of the EU – Ukraine trade, and the system of foreign trade management within the EU are made author to conclude that the EU enlargement would positively affect Ukraine economy development in mid – term and long – term outlook. |
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