This paper investigates unemployment risk and job prospects of males and females in the two Greece’s most populated regions - Attica and Central Macedonia - during the implementation of the first Community Support Framework (1989-1993). Originality lies in the separate analyses for males and females. The sample is based on anonymous records (micro-data) of the Labour Force Survey for both employed and unemployed at Nomenclature of Territorial Units for Statistics-2 level. Firstly, social and demographic characteristics increasing the odds of being employed are examined - i.e. age, marital status, residence, education and training. Secondly, the issue of whether University graduates have lesser odds of being employed is investigated. The findings indicate that gender differences in odds of being employed appear mainly across education levels. Moreover, higher education attainment increases the odds of being employed particularly for females. The paper delivers conclusions that can be used for comparative research among European regions.
{"title":"Evaluating the Employment Probability: Men and Women in Comparative Perspective in Attica and Central Macedonia","authors":"Stavros Rodokanakis, Vasileios Vlachos","doi":"10.14706/JECOSS11314","DOIUrl":"https://doi.org/10.14706/JECOSS11314","url":null,"abstract":"This paper investigates unemployment risk and job prospects of males \u0000and females in the two Greece’s most populated regions - Attica \u0000and Central Macedonia - during the implementation of the first \u0000Community Support Framework (1989-1993). Originality lies \u0000in the separate analyses for males and females. The sample is based \u0000on anonymous records (micro-data) of the Labour Force Survey for \u0000both employed and unemployed at Nomenclature of Territorial Units \u0000for Statistics-2 level. Firstly, social and demographic characteristics \u0000increasing the odds of being employed are examined - i.e. age, marital \u0000status, residence, education and training. Secondly, the issue of whether \u0000University graduates have lesser odds of being employed is investigated. \u0000The findings indicate that gender differences in odds of being employed \u0000appear mainly across education levels. Moreover, higher education \u0000attainment increases the odds of being employed particularly for \u0000females. The paper delivers conclusions that can be used for comparative \u0000research among European regions.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"57 1","pages":"119-153"},"PeriodicalIF":0.0,"publicationDate":"2013-03-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77650339","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The change in trading volume and returns and the dysfunction of the economy and more specifically of financial markets has been increasingly attracting attention of researchers, analysts, practitioners, institutions as well as government organizations. This paper investigates the factors that are able to explain how financial markets work. Testing the rational expectation hypothesis and different components of animal spirits including investors’ beliefs and their behavioral biases, results show that economy is driven by animal spirits and not by rational behavior. Considering the classification of the sample by periods of stability and periods of excessive volatility, results incite to think that financial markets work in terms of economic cycles.
{"title":"Animal Spirits and Trading Volume in International Financial Markets between 2002 and 2011","authors":"A. Dhaoui","doi":"10.14706/JECOSS11316","DOIUrl":"https://doi.org/10.14706/JECOSS11316","url":null,"abstract":"The change in trading volume and returns and the dysfunction \u0000of the economy and more specifically of financial markets has been \u0000increasingly attracting attention of researchers, analysts, practitioners, \u0000institutions as well as government organizations. This paper investigates \u0000the factors that are able to explain how financial markets work. Testing \u0000the rational expectation hypothesis and different components of animal \u0000spirits including investors’ beliefs and their behavioral biases, results \u0000show that economy is driven by animal spirits and not by rational \u0000behavior. Considering the classification of the sample by periods of \u0000stability and periods of excessive volatility, results incite to think that \u0000financial markets work in terms of economic cycles.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"97 1","pages":"163-185"},"PeriodicalIF":0.0,"publicationDate":"2013-03-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81238089","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The new privately owned one-family house sold (C25) is recognized as great indicator for economy. The monthly data in February 2011 was 250,000 houses sold. Compared to five years ago, 1,061,000 in 2006 were decreased by 76%. What are the causes to the dramatic decline of number of C25? The purpose of this paper is to analyze factors that determine the decline of number of C25 in US. Therefore, in this study, dependent variable is the new privately owned one-family house sold. Independent variables include 30 years mortgage rate, real personal income, unemployment rate, population, and house price index. The results indicate when the interest rate increases 1%, the number of new privately owned one-family houses sold decreases by 20 thousand. When the unemployment rate increases 1%, the number of new privately owned one-family houses sold decreases 81 thousand, holding all other variables constant. We thought when price goes up the demand should go down. But it doesn’t fit in this study. Income and house sold have positive relationship but it’s not significant. It shows that real personal income and unemployment have a high correlation. For the population variable, the coefficient is a negative number. Even though the p-value indicates that this result is not significant, we still couldn’t figure out the cause of this negative relation. The result of monthly dummy test indicates that none of the months has significant effects. However, from March to July the slopes of the months have positive or lower negative effects. Consequently, it’s impossible to determine all the causes to the number of new house sold since many factors are interrelated. However, through our series of statistical tests, we could be able to conclude that current mortgage rate is significant at 1% level; mortgage rate at lag one time period is significant at 5% level; both real personal incomes at lag one time period and unemployment rate at lag two time period are significant at 10% level. Keywords: house sold, mortgage rate, income level, unemployment rate, population increases, house price index
{"title":"The Factors Which Caused the Decline in the Amount of the Newly One Family Houses Sold in US","authors":"A. Çetin, J. Kole","doi":"10.14706/JECOSS11317","DOIUrl":"https://doi.org/10.14706/JECOSS11317","url":null,"abstract":"The new privately owned one-family house sold (C25) is recognized as great indicator for \u0000economy. The monthly data in February 2011 was 250,000 houses sold. Compared to five \u0000years ago, 1,061,000 in 2006 were decreased by 76%. What are the causes to the dramatic \u0000decline of number of C25? The purpose of this paper is to analyze factors that determine the \u0000decline of number of C25 in US. Therefore, in this study, dependent variable is the new \u0000privately owned one-family house sold. Independent variables include 30 years mortgage rate, \u0000real personal income, unemployment rate, population, and house price index. The results \u0000indicate when the interest rate increases 1%, the number of new privately owned one-family \u0000houses sold decreases by 20 thousand. When the unemployment rate increases 1%, the number of new privately owned one-family houses sold decreases 81 thousand, holding all \u0000other variables constant. We thought when price goes up the demand should go down. But it \u0000doesn’t fit in this study. Income and house sold have positive relationship but it’s not \u0000significant. It shows that real personal income and unemployment have a high correlation. For \u0000the population variable, the coefficient is a negative number. Even though the p-value \u0000indicates that this result is not significant, we still couldn’t figure out the cause of this \u0000negative relation. The result of monthly dummy test indicates that none of the months has \u0000significant effects. However, from March to July the slopes of the months have positive or \u0000lower negative effects. Consequently, it’s impossible to determine all the causes to the \u0000number of new house sold since many factors are interrelated. However, through our series of \u0000statistical tests, we could be able to conclude that current mortgage rate is significant at 1% \u0000level; mortgage rate at lag one time period is significant at 5% level; both real personal \u0000incomes at lag one time period and unemployment rate at lag two time period are significant \u0000at 10% level. \u0000Keywords: house sold, mortgage rate, income level, unemployment rate, population increases, \u0000house price index","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"134 1","pages":"185-199"},"PeriodicalIF":0.0,"publicationDate":"2013-03-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74804390","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Twenty years have passed since the breakdown of the Soviet Union, and it is time to draw a concluding line for monetary policy efficiency in the Commonwealth of Independent States (CIS). We propose a comprehensive treatment of the subject for nine members of the CIS for the period of 2000-2009. Four transmission channels are investigated: interest rate channel, exchange rate channel, bank lending channel, and monetary channel. First, we design a Vector Auto Regression framework for each CIS member-state and investigate the short-run dynamics of the impact of each of the four transmission channels on domestic output and inflation. Second, we construct Auto Regressive Distributed Lag Models (ARDL) in order to study the country-wise efficiency of transmission channels in the long run. Finally, we employ a panel data fixed effects method to show how the CIS behaves as a region. Our short-run individual country analysis yields highly heterogeneous results. In the long run, however, it’s apparent that broad monetary base (M2) is the most influential determinant of aggregate output. Inflation is affected the most by the refinancing rate and the flow of remittances. For both output and inflation, exchange rate plays a role of a supporting channel.
{"title":"Channels of Monetary Transmission in the CIS: a Review 1","authors":"Emin Huseynov, Rustam Jamilov","doi":"10.14706/JECOSS11311","DOIUrl":"https://doi.org/10.14706/JECOSS11311","url":null,"abstract":"Twenty years have passed since the breakdown of the Soviet Union, and it is time to draw a concluding line for monetary policy efficiency in the Commonwealth of Independent States (CIS). We propose a comprehensive treatment of the subject for nine members of the CIS for the period of 2000-2009. Four transmission channels are investigated: interest rate channel, exchange rate channel, bank lending channel, and monetary channel. First, we design a Vector Auto Regression framework for each CIS member-state and investigate the short-run dynamics of the impact of each of the four transmission channels on domestic output and inflation. Second, we construct Auto Regressive Distributed Lag Models (ARDL) in order to study the country-wise efficiency of transmission channels in the long run. Finally, we employ a panel data fixed effects method to show how the CIS behaves as a region. Our short-run individual country analysis yields highly heterogeneous results. In the long run, however, it’s apparent that broad monetary base (M2) is the most influential determinant of aggregate output. Inflation is affected the most by the refinancing rate and the flow of remittances. For both output and inflation, exchange rate plays a role of a supporting channel.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"22 1","pages":"5-61"},"PeriodicalIF":0.0,"publicationDate":"2013-03-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83074926","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Prior to the global crisis, the SEE-7 had a strong growth performance through increasing in exports and capital inflows. However, they also, just like developing countries, suffered from the global economic crisis. The purpose of this paper is to analyze through what channels the global crisis had an impact on economic activity of the SEE-7. Initially, we reviewed literature about contagion, including its definitions and its channels. We used panel data regression to analyze the impacts of external variables on GDP. According to empirical findings obtaining from the panel regression results, until the global crisis, the external variables significantly promoted the abilities of their growth. However, the contributions of external variables on their growth rate reduced sharply with the global crisis.
{"title":"The Channels of Contagion in the Global Crisis: The Case of the Southeastern Europe (SEE-7) Countries","authors":"A. Sen, Huseyin Altay","doi":"10.14706/JECOSS112212","DOIUrl":"https://doi.org/10.14706/JECOSS112212","url":null,"abstract":"Prior to the global crisis, the SEE-7 had a strong growth performance through increasing in exports and capital inflows. However, they also, just like developing countries, suffered from the global economic crisis. The purpose of this paper is to analyze through what channels the global crisis had an impact on economic activity of the SEE-7. Initially, we reviewed literature about contagion, including its definitions and its channels. We used panel data regression to analyze the impacts of external variables on GDP. According to empirical findings obtaining from the panel regression results, until the global crisis, the external variables significantly promoted the abilities of their growth. However, the contributions of external variables on their growth rate reduced sharply with the global crisis.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"25 1","pages":"243-258"},"PeriodicalIF":0.0,"publicationDate":"2012-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74324430","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper analyzes the banking sector's performance of the two former Yugoslavian republics, Slovenia and Bosnia and Herzegovina. This study is the first study examining the efficiency of banking sector of two countries. Countries have formed their banking systems, with their central banks as central and main monetary institutions. Performance of the banking sector of the two countries is being examined, taking into account that one country is a post war country, while other succeeds to join to European Union. It is determined using the data on return on assets (ROA) as indicator of profit, and return on equity (ROE) as an expression of rentability of banking sector, then compared to nonperforming loans (NPL) in order to foreseethe affect on future lending. Foreign direct investment is also being examined due to the large portion of it was initially made into banking sector. Financial health of the banking sector is analyzed by comparing deposits to loans figures, in several structural aspects. Based on data Slovenia’s banking sector has higher return on equity throughoutyears, therefore it is more profitable.On the other hand Bosnia and Herzegovina’s banking sector is more risk protected, since banks have higher adequate capital that offers protection against risk.
{"title":"The Efficiency of Banking Sector in Bosnia and Herzegovina in Comparison to Slovenia: Comparative Analysis","authors":"A. Bičo, M. Ganić","doi":"10.14706/JECOSS11226","DOIUrl":"https://doi.org/10.14706/JECOSS11226","url":null,"abstract":"This paper analyzes the banking sector's performance of the two former Yugoslavian republics, Slovenia and Bosnia and Herzegovina. This study is the first study examining the efficiency of banking sector of two countries. Countries have formed their banking systems, with their central banks as central and main monetary institutions. Performance of the banking sector of the two countries is being examined, taking into account that one country is a post war country, while other succeeds to join to European Union. It is determined using the data on return on assets (ROA) as indicator of profit, and return on equity (ROE) as an expression of rentability of banking sector, then compared to nonperforming loans (NPL) in order to foreseethe affect on future lending. Foreign direct investment is also being examined due to the large portion of it was initially made into banking sector. Financial health of the banking sector is analyzed by comparing deposits to loans figures, in several structural aspects. Based on data Slovenia’s banking sector has higher return on equity throughoutyears, therefore it is more profitable.On the other hand Bosnia and Herzegovina’s banking sector is more risk protected, since banks have higher adequate capital that offers protection against risk.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"19 1","pages":"125-151"},"PeriodicalIF":0.0,"publicationDate":"2012-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84496506","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper presents an insurance market research of the markets in several Balkan countries that were part of former Yugoslavia and are still not members of EU. Being categorized as developing countries, they have far lower development degree in comparison with the European Insurance Federation member countries. By means of comparison between the basic insurance market development indicators in these countries, the law regulations, as well as through conducting surveys, based on questionnaires, which appoint the reasons for the underdevelopment in the sphere of life insurance, the paper gives a clearer perception, in terms of the conditions of the insurance markets, placed on the margins of the European insurance market. Its utmost objective is to point and argue several measures, which would improve the insurance market conditions in the already mentioned countries, i.e. would contribute to the development increase and the acceleration of these insurance markets. As a result, that would raise the protection measures and the safety, both to the citizens and their material goods.
{"title":"Insurance Market Development in the Former Yugoslav Republics, Non-EU Countries","authors":"Nikola Dacev","doi":"10.14706/JECOSS11227","DOIUrl":"https://doi.org/10.14706/JECOSS11227","url":null,"abstract":"This paper presents an insurance market research of the markets in several Balkan countries that were part of former Yugoslavia and are still not members of EU. Being categorized as developing countries, they have far lower development degree in comparison with the European Insurance Federation member countries. By means of comparison between the basic insurance market development indicators in these countries, the law regulations, as well as through conducting surveys, based on questionnaires, which appoint the reasons for the underdevelopment in the sphere of life insurance, the paper gives a clearer perception, in terms of the conditions of the insurance markets, placed on the margins of the European insurance market. Its utmost objective is to point and argue several measures, which would improve the insurance market conditions in the already mentioned countries, i.e. would contribute to the development increase and the acceleration of these insurance markets. As a result, that would raise the protection measures and the safety, both to the citizens and their material goods.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"17 1","pages":"151-177"},"PeriodicalIF":0.0,"publicationDate":"2012-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84558455","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Business cycles are one of the best sources to understand current situation of a country’s economy. Michal Kalecki denotes investment as the best explanatory for the dimension and reason of cycles; on the other hand Schumpeter considers that innovation should be placed in a different position in this regard. In addition, both Kalecki and Schumpeter verify that investment and innovation are related with each other because innovation is also an important subject for investment. It is expected that investment and innovation have the effect in the same direction on output. In this study, business cycles have analyzed for 1971-2009 period by using the yearly data in Turkey and Greece and it has been dealt effects of investment and innovation on cyclical fluctuation. In this paper which growth rates have been discussed, ordinary least square estimation method has been used. In this respect firstly, it has been examined that the effect of innovation on investment and income. After that examined that effect of investment on output and finally innovation and investment have been evaluated by considering the effects on the output. It has been found that the obtained results support the views of Kalecki for both of the countries.
{"title":"Roles of Investment and Innovation in Business Cycle from Kalecki’s Perspective with a Schumpeterian Approach: An Empirical Analysis for Turkey and Greece","authors":"Başak Gül Aktakas, Cengiz Aytun, C. Akin","doi":"10.14706/JECOSS11225","DOIUrl":"https://doi.org/10.14706/JECOSS11225","url":null,"abstract":"Business cycles are one of the best sources to understand current situation of a country’s economy. Michal Kalecki denotes investment as the best explanatory for the dimension and reason of cycles; on the other hand Schumpeter considers that innovation should be placed in a different position in this regard. In addition, both Kalecki and Schumpeter verify that investment and innovation are related with each other because innovation is also an important subject for investment. It is expected that investment and innovation have the effect in the same direction on output. In this study, business cycles have analyzed for 1971-2009 period by using the yearly data in Turkey and Greece and it has been dealt effects of investment and innovation on cyclical fluctuation. In this paper which growth rates have been discussed, ordinary least square estimation method has been used. In this respect firstly, it has been examined that the effect of innovation on investment and income. After that examined that effect of investment on output and finally innovation and investment have been evaluated by considering the effects on the output. It has been found that the obtained results support the views of Kalecki for both of the countries.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"150 1","pages":"95-125"},"PeriodicalIF":0.0,"publicationDate":"2012-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77027724","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper addresses a comparative analysis of two different frameworks for inclusion of gender in fiscal economics through gender responsive budgeting(GRB) initiatives that took place over one decade - from 2000 till 2010 in two former Yugoslavian republics: Bosnia and Herzegovina (BiH) and Republic of Macedonia (Macedonia). Namely the comparison of two countries with two different methods for GRB is depicted: a) Case of BiH where GRB was introduced through overall public finance management (PFM) reform within the realm of program based budgeting, versus b) Case of Macedonia where GRB was introduced through specific program level initiatives and interventions without an overall integration with budgetary system and performance budgeting as a baseline concept. The paper analyzes these two approaches, and provides an argument and evidence for concluding that the introduction of gender sensitive budgeting through an overarching PFM reforms a more practical and comprehensive mechanism. It suggests that GRB can be used as a tool for more efficient and equitable policy and budget making decisions, and that the capacity level directly affects the absorption capacity, level of implementation and overall sustainability. Furthermore, due to the transition from social regime toward open market parliamentary democracies that Balkan countries are experiencing, integration of GRB practices within the PFM reforms is an attractive model given that those reforms are already taking place. Gender equality through GRB mainstreamed through PFM reforms supports contributes to overall socio-economic prosperity.
{"title":"Gender Responsive Budgeting as Smart Economics: A Comparative Analysis between Bosnia and Herzegovina and Republic of Macedonia","authors":"Merima Avdagic, Faruk Hujic","doi":"10.14706/JECOSS11229","DOIUrl":"https://doi.org/10.14706/JECOSS11229","url":null,"abstract":"This paper addresses a comparative analysis of two different frameworks for inclusion of gender in fiscal economics through gender responsive budgeting(GRB) initiatives that took place over one decade - from 2000 till 2010 in two former Yugoslavian republics: Bosnia and Herzegovina (BiH) and Republic of Macedonia (Macedonia). Namely the comparison of two countries with two different methods for GRB is depicted: a) Case of BiH where GRB was introduced through overall public finance management (PFM) reform within the realm of program based budgeting, versus b) Case of Macedonia where GRB was introduced through specific program level initiatives and interventions without an overall integration with budgetary system and performance budgeting as a baseline concept. The paper analyzes these two approaches, and provides an argument and evidence for concluding that the introduction of gender sensitive budgeting through an overarching PFM reforms a more practical and comprehensive mechanism. It suggests that GRB can be used as a tool for more efficient and equitable policy and budget making decisions, and that the capacity level directly affects the absorption capacity, level of implementation and overall sustainability. Furthermore, due to the transition from social regime toward open market parliamentary democracies that Balkan countries are experiencing, integration of GRB practices within the PFM reforms is an attractive model given that those reforms are already taking place. Gender equality through GRB mainstreamed through PFM reforms supports contributes to overall socio-economic prosperity.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"8 1","pages":"197-217"},"PeriodicalIF":0.0,"publicationDate":"2012-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83048800","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The south-eastern enlargement of the European Union will be the sixth enlargement since the establishment of the European Community in 1957. This research uses the gravity model to analyze the factors that have an influence on trade flows between the EU and South-east European Countries. The Gravity model explains patterns of trade with GDP, geographical distance and several dummy variables. Using the data from 2010, the gravity model analyzes trade flows between 23 countries from both the EU and South-eastern European Countries. Taking into consideration the costs of enlargement, this paper examines the possible effects of enlargement on trade flows, and its impact on the development of SEEC’s. Moreover, it offers a solution for the South-east European Countries which is the possibility to create the Balkan Union.
{"title":"Costs and Benefits of the EU Enlargement: The Impact on the EU and SEE Countries","authors":"Elif Nuroğlu, H. Kurtagic","doi":"10.14706/JECOSS11223","DOIUrl":"https://doi.org/10.14706/JECOSS11223","url":null,"abstract":"The south-eastern enlargement of the European Union will be the sixth enlargement since the establishment of the European Community in 1957. This research uses the gravity model to analyze the factors that have an influence on trade flows between the EU and South-east European Countries. The Gravity model explains patterns of trade with GDP, geographical distance and several dummy variables. Using the data from 2010, the gravity model analyzes trade flows between 23 countries from both the EU and South-eastern European Countries. Taking into consideration the costs of enlargement, this paper examines the possible effects of enlargement on trade flows, and its impact on the development of SEEC’s. Moreover, it offers a solution for the South-east European Countries which is the possibility to create the Balkan Union.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"19 1","pages":"41-65"},"PeriodicalIF":0.0,"publicationDate":"2012-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88941403","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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