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It is to assess the impact of EU policies on the economic performance of small market economies within the EU, with special emphasis on Cyprus’s economy. Overall, there is a wealth of solid scientific research into the problem. Whereas books provide a comprehensive analysis of the relevant data and newspaper articles enlighten the reader on the latest developments in the region. Though the literature on the subject is abundant, there are some limitations in research too. A common thread from all sources reviewed suggests that EU policies have had an ambiguous effect on the economic performance of different small EU member-states.
It would be wise to start this literature review by looking at how experts determine which EU economies are small and which are not. Today, there are as many approaches to defining small economies as there are scholars researching the problem. Indeed, there is no single yardstick by which to measure whether or not a particular economy is small. Some researchers look at the geographical area of the country and the amount of natural resources it has (Castello & Ozawa, 2014). It is with the believe that those factors are inexorably linked to the economic ability of a country. Others determine the country’s affiliation with a particular pool of economies by simply looking at its GDP (Gal, 2009). For example, Castello and Ozawa (2014) classify Belgium and the Netherlands as “small economies” (p. 29), even though the two countries have relatively competitive macroeconomic indicators. Ronald Schettkat (1999) broadens the list to include Ireland, Denmark, and Austria. Although the number of EU member-states was smaller in 1999 and the economies of Austria and the Netherlands were weaker, they could be hardly classified as small. One plausible explanation for regarding these states as small economies is that some of their industries are characterized by concentrated market structures, which is a criterion of a small economy
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The relationship between European Union (EU) and China brings together some two unique partners. Major variations are so evident in their political structures. EU has sui generis, a multi-level institution of governance with partially shared sovereignty, which is expanding continuously and presently has a membership of 27 nation states.
A directive shall be obligatory, to the expected outcome, upon each member state to which it is directed, but shall depart from the national authorities the option of form and methods. A regulation shall have general application. It shall be obligatory in its totality and directly pertinent to member states.
45-6). On the other hand, free trade refers to a government policy that helps to avoid discrimination against imports or any kind of interference with imports through application of tariffs to (imports) and/or subsidies to (exports). It aims at getting rid of unfair trade barriers in the global market plus aims at helping raising the economy in both developed and developing countries.
When it comes to agricultural products which are among Finland imports, specific duties are normally imposed on weight or quantity or in some cases the combination of the two of the weighted-based and percentage duties applied. Most agricultural products fall under a sensitive category according to the EU regulations where there is limited tariff reduction.
However, one gets surprised if not shocked to find out that, despite the proximity, the two regions demonstrate many differences in terms of culture, religion, economics, politics and governance, and the
The paper describes the International Relations between EU and Ukraine during 2012-2014 within conclusion of Association Agreement by EU and Ukraine. The Ukraine political system which does not encourage democracy might also have been a hindering factor to the good relationship between the EU and Ukraine.
However, the events which followed the collapse of the Constitutional Treaty thereby, restricting the participation of the EU’s citizens in decision making have been characterized by the emergence of possibly equitable apprehensions regarding the
It is unfortunate that the available academic literature initiated on small states happens to be either diverse or fragmented. With such information, it happens to be so because it is difficult to give a definition of
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