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The European Central Bank and Its Role in a Sustainable Finance System (Sustainable Finance)
by Johannes Hoffmann Bernd Villhauer Harald J. BolsingerThis book analyses the new strategic decisions of the European Central Bank. Contributors from different fields examine especially the sustainability strategy of the ECB: What role can the European Central Bank play in fighting climate change? ECB President Christine Lagarde has repeatedly confirmed that the central bank wants to play a role in coping with climate change. What will this role be? What instruments does the ECB have to make a difference in challenges such as the defossilization of the economy and transport, biodiversity, the energy transition, resource consumption and other sustainability areas? Is it entitled or obliged to go beyond the classic mandate of maintaining price stability? The volume includes contributions from academics and practitioners from the financial sector, civil society and institutions involved at European level.
The European Central Bank as a Sustainability Role Model: Philosophical, Ethical and Economic Perspectives (Sustainable Finance)
by Harald Bolsinger Johannes Hoffmann Bernd VillhauerThis book examines selected actions and investments of the European Central Bank (ECB) from a climate and sustainability standpoint. Shedding new light on the topic from various angles – ethical, philosophical, political, economical and legal – it situates sustainability mainstreaming in the finance and investment field at all levels. The former ECB President Mario Draghi once said that he considered sustainable development and an intact environment to be human rights, and therefore enshrined in the EU Charter of Fundamental Rights. The acting ECB President Christine Lagarde added that the future path for the climate is uncertain, but it would remain within our power to influence it. However, with all that in mind the ECB’s policy of buying assets as securities is often questionable. This volume analyzes these actions in connection with sustainability, and puts forward practical recommendations for improving the ECB’s investment strategy on its way creating a sustainable financial market.
The European Central Bank at Ten
by Helge Berger Jakob De HaanComing at a critical juncture for the euro, the book takes stock of the ECB's experience during its first ten years and discusses the way ahead. The articles are written by well-known experts in the field and provide the reader with a comprehensive overview of relevant policy issues, including the ECB's communication and its monetary strategy and instruments.
The European Central Bank between the Financial Crisis and Populisms
by Corrado Macchiarelli Claudia Wiesner Mara Monti Sebastian DiessnerIn light of the handover from the European Central Bank President Mario Draghi to Christine Lagarde in November 2019, this book provides an in-depth analysis of the events which unfolded since the euro area sovereign debt crisis in 2010 up until today. The book focuses on the far-reaching implications of the last decade, shedding light on a wide spectrum of political, economic and financial aspects of the European poly-crises and how monetary policy reacted to these challenges. The book places particular emphasis on the tensions that the supranational central bank was subject to during this period, and on their outcomes in terms of the policies, their legitimacy, and their public reception. As such, this book will be relevant not only to understand the political implications of the past crisis but also, and foremost, in understanding "what is next".
The European Commission and Bureaucratic Autonomy
by Antonis A. Ellinas Ezra SuleimanThis book examines the struggle of the European Union bureaucracy to maintain its autonomy in an increasingly complex institutional setting and adverse political environment. Using an original survey of nearly two hundred top European Commission officials, it shows that the European Union is a coherent organization that shares a common culture of supranationalism. The European Union's multicephalous structure of political authority limits the capacity of European politicians to curb the autonomy of the Commission but tends to undermine the legitimacy of the organization, which finds itself under persistent political attacks. These attacks inadvertently help the organization bolster its defenses against the external threats and trigger internal legitimation processes that reinforce the devotion of its employees to its institutional mission. The book helps disentangle the complexity of the Commission and makes a contribution to the study of international bureaucracies, a topic that has received little attention.
The European Commission, Expert Groups, and the Policy Process: Demystifying Technocratic Governance (European Administrative Governance)
by Julia MetzThis book challenges the assumption that policy makers' work with advisory committees is emblematic of technocratic governance. Analyzing how and why the European Commission uses expert groups in the policy process, it shows that experts not only solve technical problems, but also function as political devices and negotiators in modern governance.
The European Commission�s Energy and Climate Policy
by Jonas DregerThis book offers a deep insight into the genesis and development of the European Commission's energy and climate legislation, focusing on the interplay of politics and science. How does the Commission react when confronted with knowledge? According to the author, the Commission functions as catalyst transforming knowledge into politics.
The European Company
by Dirk Van Gerven Paul StormThe European company ('SE') is a legal entity offering a European perspective for businesses, which became a reality on 8 October 2004. Its purpose is to allow businesses that wish to extend their activities beyond their home Member State to operate throughout the EU on the basis of a single set of rules and a unified management system. This book explains how to set up and organise a European company, and sets out the text of the relevant EC instruments that serve as its legal basis, as well as the national implementing legislation. It is essential for businesses and their advisers to understand the implementing legislation of the relevant Member States in deciding where to establish an SE. This book provides comprehensive coverage of such legislation in all Member States of the European Economic Area which have, as at 1 July 2005, implemented the Regulation containing the SE statute and the Directive on employee involvement in the SE.
The European Coordinated Economy Capitalism Since And Beyond 1945
by Barry EichengreenIn 1945, many Europeans still heated with coal, cooled their food with ice, and lacked indoor plumbing. Today, things could hardly be more different. Over the second half of the twentieth century, the average European's buying power tripled, while working hours fell by a third. The European Economy since 1945 is a broad, accessible, forthright account of the extraordinary development of Europe's economy since the end of World War II. Barry Eichengreen argues that the continent's history has been critical to its economic performance, and that it will continue to be so going forward. Challenging standard views that basic economic forces were behind postwar Europe's success, Eichengreen shows how Western Europe in particular inherited a set of institutions singularly well suited to the economic circumstances that reigned for almost three decades. Economic growth was facilitated by solidarity-centered trade unions, cohesive employers' associations, and growth-minded governments--all legacies of Europe's earlier history. For example, these institutions worked together to mobilize savings, finance investment, and stabilize wages. However, this inheritance of economic and social institutions that was the solution until around 1973--when Europe had to switch from growth based on brute-force investment and the acquisition of known technologies to growth based on increased efficiency and innovation--then became the problem. Thus, the key questions for the future are whether Europe and its constituent nations can now adapt their institutions to the needs of a globalized knowledge economy, and whether in doing so, the continent's distinctive history will be an obstacle or an asset.
The European Corporation: Ownership and Control after 25 Years of Corporate Governance Reforms
by Klaus Gugler Evgeni PeevThe product of a long-standing collaboration and recent collective research effort by members of the CGEUI network, The European Corporation makes an important contribution to the ongoing debate over convergence to the Anglo-Saxon model of corporate governance and persistence in corporate governance and law in Europe. This book fills the gap in the debate, and literature's lack of country-specific evidence on the evolution of ownership and control which has proven to be a serious impediment to both legal and economic analysis and evidence-based policymaking. It provides systematic and comparable accounts of ownership and control structure change (respectively persistence) in large firms across Europe over the decades following the 'global corporate governance revolution' in the 1990s. Focusing on countries in Europe's four main regions, this volume presents and discusses the net effects of the interplay between the 'global corporate governance revolution' and of its main countervailing forces in Europe.
The European Debt Crisis: How Portugal Navigated the post-2008 Financial Crisis
by João Moreira RatoThis book explores Portugal’s response to the 2008 economic crisis and how the country regained the trust of the global capital markets through investor support. The experiences and successes of Portugal are compared with the other Eurozone countries, in particular Greece which had to negotiate a series of assistance programs, to highlight the strategies which helped lessen the impact of the debt crisis.This book aims to provide insight into the global investor ecosystem and to how financial globalization works in practice, illustrating how the multinational investor universe, the financial media, rating agencies, and how investment banks interact. It will be relevant to students and researchers interested in financial markets and political economy, and also financial market practicioners and policy makers.
The European Digital Economy: Drivers of Digital Transition and Economic Recovery (Routledge Open Business and Economics)
by Beata Mäihäniemi Rafał Wisła Judyta LubachaThe “digital economy” is a conceptual umbrella referring to markets, organizations and their networks that are based on digital technologies, communication, data processing and e-commerce. It is multidimensional and its dynamic structure must be analysed from various dimensions, such as economic – changes in the nature of resources, production factors and economic processes; technological – technological progress viewed from a macroeconomic perspective vs. technological innovation viewed from a microeconomic perspective; regulatory – challenges facing regulators, new risks affecting the institutional order; and sociological – changes in society’s functioning principles, attitudes towards work and human relations. The purpose of this book is to analyse the effectiveness of digital technologies as well as the fundamental factors that contribute to technological progress in the long run. It also examines structural and qualitative shifts in economies and societies. It investigates many research questions, such as the gap between the level of digital economic development in European Union countries; digital transformation and its impact on workplace skills development patterns; and also the legal framework for data as resource. The book approaches these issues from a multidisciplinary perspective, from law to economics and sociology. It focuses on definitional discussions, the measurement challenges, drivers for digital transition, the impact on labour relations, digital skills and education, data reuse and data extractivism. This is a comprehensive introduction to the different contexts from which the digital economy can be addressed, offering an innovative method for studying this complex phenomenon, and as such, it will be a valuable resource for students, scholars and researchers across a range of disciplines.
The European Dimension of Germany’s Energy Transition: Opportunities and Conflicts
by Alexandra Purkus Erik Gawel Sebastian Strunz Paul LehmannThis book addresses the interactions between Germany’s energy transition and the EU’s energy policy framework. It seeks to analyze the manifold connections between the prospects of the proclaimed “Energy Union” and the future of Germany’s energy transition, and identifies relevant lessons for the transformation at the EU level that can be learned from the case of Germany, as a first-mover of transforming energy systems towards renewables. The various repercussions (political, economic and systemic) from the national transition are explored within the EU context as it responds to the German transition, taking into account both existing frictions and potential synergies between predominantly national sustainability policies and the EU’s push towards harmonized policies within a common market. The book’s overall aim is to identify the most critical issues, in order to avoid pitfalls and capitalize on opportunities.
The European Dream: How Europe's Vision of the Future Is Quietly Eclipsing the American Dream
by Jeremy RifkinAmericans "live to work" while Europeans "work to live," and Rifkin demonstrates statistically and anecdotally that Europe's humane approach to capitalism makes for a healthier, better-educated populace.
The European Economy 1914-1990
by Derek AldcroftThis new edition of The European Economy 1914-1980 has been up-dated and revised to take account of the decade 1980-90 and, as such, covers some of the most dramatic and profound economic events of the twentieth century. The European Economy 1914-1990 includes two additional chapters, one dealing with the Western European economies, and in particular, the fight against inflation and unempolyment, which dominated the period. Chapter 9 assesses the astounding events in Eastern Europe and the initial movements towards the establishment of market economies.
The European Economy Since 1914
by Derek Aldcroft Steven MorewoodThe fifth edition of The European Economy provides a succinct and lucid account of the development and problems of the European economy since the first world war. It covers the whole of Europe including Russia and Turkey. The text divides into several clearly defined sub-periods: the impact and aftermath of the first world war and recovery and reconstruction during the 1920s; the depression and the recovery of the 1930s; the impact of the second world war and the new political division in Europe; the post-war boom of the 1950s and 1960s and then into the growth slowdown of the 1970s and the persistent problems of inflation and unemployment. It then analyses the demise of the centrally planned economies of eastern Europe and the move to a more united Europe and then discusses the financial and economic problems that have emerged in the early twenty-first century. This new edition has been extensively revised, new chapters have been added and the reading lists updated. Though the volume is designed as a basic introductory text the authors elicit some of the lessons that can be learnt from a study of past development, one of which is the limited power of governments to influence the course of events and to combat the operation of market forces.
The European Economy in 100 Quotes: A Guide to Crucial Economic Ideas (Contributions to Economics)
by Cristina PeicutiThis book will take the reader on a journey through the economic thought of Europe, spanning from ancient Greece to the modern day. It explores the economic ideas of the 27 European Union countries, the United Kingdom and Norway, across history. By presenting 500 important quotes, the book offers a better understanding of Europe's economic landscape and serves as a guide that invites readers to explore in more detail the quoted sources. It displays the common socio-economic threads that bind European nations over millennia, transcending artificial divisions imposed by history. From ancient Greece to the reunification post-Berlin Wall, the book enables readers to explore the continuous European economic evolution. The book will appeal to students and scholars of economics, as well as a wider audience, interested in a better understanding of how quotes and economic ideas from the past shape a future with aspirations, such as for the freedom of enterprise, for a market economy based on competition, for the fight against corruption, for a fair distribution of wealth, and an economy at the service of mankind.
The European Economy in an American Mirror (Routledge Studies In The Modern World Economy Ser.)
by Barry Eichengreen Michael Landesmann Dieter StiefelEurope‘s economy is under strain due to lagging productivity growth, population ageing, the difficulties of adjustment in an enlarged European Union, and the challenges of globalization. In comparison with America, rates of growth of GDP per capita and labour productivity growth are anaemic, raising questions about the viability of a distinct Europ
The European Economy: The Global Context
by Christopher M. DentThe shape of the world economy is changing. Globalisation and regionalism have led to the development of powerful but interdependent economic blocs. Much economic potential has shifted from the Atlantic to the Pacific area. In view of this The European Economy argues that economists need a broader, worldwide base of information if these processes and their effect on Europe are to be fully understood. Topics discussed include:* Europe's experience of the growing trend of regionalism* the single market* plans for economic union* EU enlargement* Europe's triad rivals* EU external trade and trade relations* technology and innovation* environmental issuesThis fresh approach highlights the issues which will challenge European countries into the twenty-first century.
The European Emission Trading System and Its Followers
by Simone Borghesi Massimiliano Montini Alessandra BarrecaGiven the rapid spread of ETSs in an increasing number of countries and the important role that they are likely to play for the success or failure of the environmental policy in the years to come, this book provides an interdisciplinary analysis of the EU ETS from both the legal and economic perspectives comparing it with the other main ETSs existing worldwide, in order to assess whether the EU ETS has truly represented a prototype for the other ETSs established around the world and to investigate the current perspectives for linking them in the future. Through the years, the EU ETS has progressively gained a paramount position within the EU environmental policy and climate change legislation and currently represents the most striking flagship in this sector, with more than 11. 000 installations covered by the scheme. In parallel, the EU ETS has paved the way for the establishment of many other ETSs in several other jurisdictions. Such schemes are now recognized worldwide as the "cornerstones" of the climate change policy.
The European Game: The Secrets of European Football Success
by Dan FieldsendThe British sportswriter goes inside some of Europe&’s best soccer clubs—from Bilbao to Bavaria and beyond—to reveal their winning secrets. In The European Game, Daniel Fieldsend travels across Europe to discover the methods for success used at some of the continent&’s biggest Football clubs—from Ajax, Juventus and Benfica to Bayern Munich, A.C Milan, Lyon, Athletic Bilbao and many more. At every stop, Fieldsend pulls back the curtain to reveal what makes each club tick, speaking to everyone from scouts and academy coaches to first team managers, analysts and board members. Insightful, ambitious and compelling, The European Game is about more than just a game. It&’s about community, identity and attachment. It explores leadership, tactics, coaching and scouting as well as politics, finance, fandom and culture. Celebrating the uniqueness of football clubs around the continent, it also investigates whether their methods can be replicated in other domestic leagues.
The European Green Deal and the Eastern Partnership: Towards Resilient, Sustainable and Integrated Economies (Routledge Advances in Regional Economics, Science and Policy)
by Zofia Gródek-Szostak Jadwiga Adamczyk Karolina Kotulewicz-Wisińska Agata Niemczyk Karolina Wanda Olszowska Anna Szeląg-SikoraThe Eastern Partnership (EaP) was launched in 2009 to strengthen institutional, economic and political relations between the European Union (EU) and the six Partnership countries (Armenia, Azerbaijan, Belarus, Georgia, Moldova, and Ukraine). Further, the adoption of the European Green Deal (EGD) for these countries can be seen as a turning point in policymaking, as well as an indication that the Green Deal will become a guide to transforming the economy and making it more sustainable. This book presents an innovative, geopolitical, multidimensional survey of EaP-EU relations and the future of Europe.It analyses the situation of the Partnership countries in the context of sustainable development and explores the historical and strategic context of the integration of the Green Deal and its impact on the development of Europe. It examines the necessary conditions for the operation of the EGD in the countries of the EaP and examines the influence of geopolitical conflicts and their impact on the implementation of the EGD in the region. The book studies the political, economic, socio-demographic dimensions of geopolitics and their effect on EGD implementation in the Partnership and finally, identifies and evaluates the key challenges, and features a comparative analysis of the European Green Deal and similar environmental initiatives in other parts of the world. Such an approach helps place European efforts in a global context.This is a valuable reference for students, scholars and researchers of economics, politics, geography, history, European studies, international relations, and environmental policy. Policymakers at the European, regional, and local government level will benefit from the book's policy recommendations and comprehensive insights.
The European Guilds: An Economic Analysis (The Princeton Economic History of the Western World #78)
by Sheilagh OgilvieA comprehensive analysis of European craft guilds through eight centuries of economic historyGuilds ruled many crafts and trades from the Middle Ages to the Industrial Revolution, and have always attracted debate and controversy. They were sometimes viewed as efficient institutions that guaranteed quality and skills. But they also excluded competitors, manipulated markets, and blocked innovations. Did the benefits of guilds outweigh their costs? Analyzing thousands of guilds that dominated European economies from 1000 to 1880, The European Guilds uses vivid examples and clear economic reasoning to answer that question.Sheilagh Ogilvie’s book features the voices of honourable guild masters, underpaid journeymen, exploited apprentices, shady officials, and outraged customers, and follows the stories of the “vile encroachers”—women, migrants, Jews, gypsies, bastards, and many others—desperate to work but hunted down by the guilds as illicit competitors. She investigates the benefits of guilds but also shines a light on their dark side. Guilds sometimes provided important services, but they also manipulated markets to profit their members. They regulated quality but prevented poor consumers from buying goods cheaply. They fostered work skills but denied apprenticeships to outsiders. They transmitted useful techniques but blocked innovations that posed a threat. Guilds existed widely not because they corrected market failures or served the common good but because they benefited two powerful groups—guild members and political elites.Exploring guilds’ inner workings across eight centuries, The European Guilds shows how privileged institutions and exclusive networks shape the wider economy—for good or ill.
The European Harmonization of National Accounting Rules: The Application of Directive 2013/34/EU in Europe (SIDREA Series in Accounting and Business Administration)
by Alberto Incollingo Andrea LionzoWith Directive 2013/34/EU - which replaced the 4th and 7th accounting Directives - a new step towards European accounting harmonization has been taken: accounting rules on private firms have been further standardized and, at the same time, brought closer to IAS/IFRS. This book develops a comparative analysis of the most relevant issues in the process of preparing the financial statements after the recent transposition of the aforementioned Directive into the local accounting rules and standards. This book is of interest for several reasons. First, private firms, which are not necessarily small-medium sized companies, are the most prevalent and the engine of growth in all European countries. At the same time, the international academic literature is mainly devoted to listed companies, due to the limited availability of data for private companies and the idea that accounting information is less relevant for this kind of companies. In addition, the analysis contained in the book is the result of the work of more than 30 European researchers, who contributed to both a vertical analysis of eight countries (Germany, Spain, Italy, France, the Netherlands, the United Kingdom, Sweden, and Denmark) and a horizontal analysis of the most relevant cross-cutting issues (fundamental principles, financial statement formats, impairment losses, capital reserves and profit distribution, income taxes, and non-financial reporting). More specifically, the book aims to examine, from a comparative perspective, the methods of application of the Directive in Europe, in parallel with the evolutionary processes of national GAAPs, in order to verify the impact of both legal regulations and professional rules on the quality and comparability of accounting information, as well as the degree of convergence towards the IAS/IFRS model.
The European Ideological Space in Voters' Own Words (Elements in European Politics)
by Noam Gidron Thomas TichelbaeckerThere is a broad consensus that the ideological space of Western democracies consists of two distinct dimensions: one economic and the other cultural. In this Element, the authors explore how ordinary citizens make sense of these two dimensions. Analyzing novel survey data collected across ten Western democracies, they employ text analysis techniques to investigate responses to open-ended questions. They examine variations in how people interpret these two ideological dimensions along three levels of analysis: across countries, based on demographic features, and along the left-right divide. Their results suggest that there are multiple two-dimensional spaces: that is, different groups ascribe different meanings to what the economic and cultural political divides stand for. They also find that the two dimensions are closely intertwined in people's minds. Their findings make theoretical contributions to the study of electoral politics and political ideology.