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Game-Theoretic Modeling of Electricity Markets in Central Europe  [PDF]
Martin Hruby,Petr ?ambala,Jan Toufar
AUCO Czech Economic Review , 2010,
Abstract: The paper deals with the methodology of computer modeling and simulation of complex markets with electricity and related products. The methodology is presented using a particular configuration of Central European markets with decentralized trading and international electricity transfers. The modeling approach is based on pure computer numerical solution in discrete state space determined by problems on which the modeled players are expected to decide—price offered for electricity supplied to various markets, breakdown of total power generation into individual commodities (yearly band, monthly band, spinning reserve) and setting bids in auctions for cross-border profiles. Similar approach to decision-making is adopted on the buyer’s side. Buyers are expected to strive to contract power supplies in the way that is most advantageous for them. The generated state space is then analyzed using concepts of mathematical game theory. In this way, we obtain a prediction of probable decisions of modeled player s in their market competition. Finally, we present a simplified power system forecast for Central Europe for year 2009.
Assessment of Development of Financial Markets in Central and Eastern European Countries During the Period of Transformation Оценка развития финансовых рынков в странах Центральной и Восточной Европы в период трансформации  [PDF]
Kasiyan Yevgeniy V.
Business Inform , 2013,
Abstract: The article studies development of financial markets of transition economies of Central and Eastern Europe as an important factor that influences economic growth. The article also draws attention to specific features of financial reforms directed at creation of efficient stock markets and its productivity. The author makes assessment of the level of development of the securities markets in the countries of Central and Eastern Europe in the context of their qualitative characteristics, such as depth, efficiency and stability. The author also shows the level of integration into international markets of capital and conducts comparison with developed neighbouring countries – members of European Union. The article also studies main shortcomings and problems of development of financial markets in these states and sets prospects of their development in the post-crisis period. В данной статье исследовано развитие финансовых рынков переходных экономик Центральной и Восточной Европы как важного фактора, влияющего на экономический рост. В статье также обращается внимание на особенности финансовых реформ направленных на создание эффективных фондовых рынков и ее результативность. Автором сделана оценка уровня развития рынков ценных бумаг в странах Центральной и Восточной Европы в контексте их качественных характеристик таких как глубина, эффективность и стабильность, показан уровень интеграции в международные рынки капитала и проведена сравнительная характеристика с развитыми соседними странами–членами Европейского Союза. Также в этой статье исследованы основные недостатки и проблемы развития финансовых рынков в этих государствах, намечены перспективы их развития в посткризисный период.
Retail Market Structure Development in Central Europe  [cached]
Martin Machek
Central European Business Review , 2012,
Abstract: This article is analyzing the trends and development in the retailing sector in Central Europe, namely in the Czech Republic, Hungary, Poland and Slovakia. These markets serve about 63 million inhabitants. The retail industry in Central Europe has changed dramatically in the last two decades, and has become a model for successful transformation of emerging markets. The retail market is highly concentrated and dominated by Western European retail chains. International retail chains are using all formats of modern distribution. This article is focusing on the development of hypermarkets, supermarkets and discount stores. Due to the international retail chains, Central European countries benefit from a dense network of modern shopping places; the intense competition of highly productive retailers contributes to the lower level of inflation rate because of the so-called Wal-Mart Effect. The constant pressure on prices influences the marketing strategies of both retailers and suppliers.
Central Europe as an Imagined Region
Tomas Ka erauskas
Limes. Cultural Regionalistics , 2009, DOI: 10.3846/2029-0187.2009.2.106-115
Abstract: The article deals with the conception of Central Europe in the perspective of clash of civilizations. The author's major thesis is the following: Central Europe is central being the centre of fight for European values including Western Christianity, liberalism, democracy, justice, and historical memory. The minor theses are the following: 1) the very notion of Central Europe is inseparable from its moral content, i.e. from imagined values to be obliged as maximas of life in a certain life-world; 2) Central Europe serves as the becoming of Europe's identity and vice versa, the identity of Central Europe depends on contrary parts of imagined Europe. The author considers Grand Duchy of Lithuania (GDL) as a historical rim of European civilization and the area for the becoming of Central Europe.
Insurance and Banking Interconnectedness in Europe: The Opinion of Equity Markets  [PDF]
Ken Nyholm
Economics Research International , 2012, DOI: 10.1155/2012/525089
Abstract: Conditional expected shortfalls calculated for European insurance companies and banks under stressed market conditions are shown to be of similar magnitudes. Measured at 95% and 99% stress levels, on data covering the period from 1995 to 2011, the equity-return tail losses of insurance undertakings and banks are indistinguishable. Granger causality analysis, on all pairs of banks and insurance companies included in the sample, shows that banks and insurance companies have equal propensity to cause each others price movements. Even though the business model of insurance undertakings is different from the business model typically applied by banks, and even though insurance companies are not depending to a similar degree on short term funding as banks, the empirical results indicate that the financial equity markets in Europe do not differentiate their trading of banks and insurance companies in periods of stress. 1. Introduction Insurance companies perform an important task in the economy by ensuring that economic agents can buy protection against risks that otherwise cannot be hedged. In this way they complement financial markets by making risk-hedging instruments available. A traditional insurance company will build its business model around the collection of premiums over time, from households and firms, and by the implementation of an appropriate asset allocation as a storage of wealth, whereby premiums and investment returns are accumulated and grown with the help of financial market instruments. The aim of such investment activities is to build an asset base that will enable the company to cover future insurance claims, that are uncertain in amount and timing. A traditional bank also serves a central role in the economy by providing credit intermediation for agents with lending and borrowing needs. Traditional banking operations reduce the search costs, and potentially creates better prised and organised markets for credit intermediation, to the benefit of agents with surplus and deficit cash positions. Economic agents can thus turn to a bank to deposit funds and obtain loans, respectively, rather than searching for bilateral agreements in the markets. These different roles played by insurance companies and banks in the economy naturally lead to differences in their balance sheet compositions and to differences in their risk profiles and potential business-cycle vulnerabilities. An insurance company can relatively freely determine its asset composition and will inherently strive to minimise the shortfall risk stemming from states of the world where
Opportunities and constraints of adopting market governance in protected areas in Central and Eastern Europe  [cached]
Ilona M. Otto,Veronika Chobotova
International Journal of the Commons , 2013,
Abstract: This article analyses the transition from the traditional hierarchical governance of natural resources in Central and Eastern Europe towards the new forms of market governance of protected areas, including the introduction of fees and compensation. Our conceptual framework suggests that markets can be effective in governing transactions that involve low asset specificity and low frequency of disturbances. However, the introduction of markets should be accompanied by appropriate rules of market organization that particularly regulate their monitoring and impose sanctions in cases of mismanagement. The analysis of market governance in Poland, the Czech Republic and Slovakia reveals that in the face of decreasing funding for biodiversity protection and state budgetary problems, markets are more a necessity than a means to improve resource management. Although markets should complement rather than substitute traditional forms of governance, for certain types of transactions, markets are useful. They can be effectively implemented, provided that property rights are recognized and legal settings that regulate the monitoring and enforcement of market rules are set up.
SOCRATES Invades Central Europe  [cached]
Joseph Slowinski
Education Policy Analysis Archives , 1998,
Abstract: The objective of this article is to explore the current reality faced by higher education students in Central and Eastern Europe and to draw out the implications of this current reality for policy makers in the future. In the article, I explore the influence of transnational corporations' training programs on education as it currently pertains to Central and Eastern European higher education and employment. In addition, multinational corporate entities exercise influence on European Union policy through the role of lobby organizations and activities. I explore the influence of these practices on education with an emphasis on the emerging importance of Western language skills. In addition, I focus on the European Union and its efforts to expand into Central and Eastern Europe in order to provide a focal point for analysis.
Mortality in Central and Eastern Europe  [cached]
Meslé France
Demographic Research , 2004,
Abstract: While, during several decades, unfavourable trends in mortality were quite similar in Central Europe and in the former USSR, in the most recent years, these two parts of Europe are diverging. In most Central European countries, life expectancy is now increasing mainly thanks to a decline in cardiovascular mortality. Conversely, cardiovascular mortality is still increasing in Russia and Ukraine and its negative impact is reinforced by a worsening of violent deaths and infectious mortality. The situation of Baltic countries is still uncertain but it is not impossible that these countries soon resume with sustainable progress in life expectancy.
THE EUROPEANIZATION OF CENTRAL AND EASTERN EUROPE  [PDF]
M?d?lina-?tefania D?rzu
CES Working Papers , 2011,
Abstract: The Central and Eastern Europe Countries (CEECs) have been shaped by the EU conditionality, meaning that these countries were obliged to develop their administrative capacities in completely convergence with the acquis communautaire in order to join the European Union. The 2004 and 2007 enlargement of the EU and the accession negotiations have brought a systemic transformation of the CEECs through what is known in the literature as Europeanization. It seems to be a strong connection between conditionality and Europeanization, the former giving way to the latter. Therefore the capacity and the willingness of candidate countries to transfer the acquis into the domestic legal context have had a significant influence in the way in which the Europeanization process has succeeded in inhabiting the governance system of the CEECs. Considering these, the purpose of this paper is to examine through which mechanisms it was realized the correspondence between EU conditionality and the process of central and eastern enlargement-led Europeanization which seems to have been internalized distinctively by the CEECs, where administrative resources to comply with European standards were lagging behind.
ILLEGAL DRUG MARKETS IN EUROPE: THE NEGATIVE CONSEQUENCES OF GLOBALIZATION  [PDF]
Loredana Maftei
CES Working Papers , 2012,
Abstract: Globalizing processes have profoundly shaped the European drugs situation. The illegal drug markets have reached to evolve and to transform all the advantages of this phenomenon, in their favor. Based on globalization aspects, the paper purpose is to present the main characteristics of illicit drugs market within European countries, from the last years. Furthermore the article is focused on the analysis of theoretical and empirical drugs literature, especially on the current reports and studies of EMCDDA and UNODC, which indicated certain drug sectors. Due to its richness, position and high demand of illegal drugs, Europe is viewed by criminal organizations as a transit area for heroin, cocaine, cannabis and synthetic drugs, and a big customer which continued to sustain this profitable enterprise, over the last decades. Regarding the drug problem, the governance needs to be reframed and to take account of economical, social and moral character. The simple connection of illegal drug markets with globalization, gives the originality note of the paper, which leads to some important new insights for future research and policy.
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