Outside and inside at the same time? Lessons from Norway for Brexit. Karen Helene Ulltveit-moe

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Outside and inside at the same time? Lessons from Norway for Brexit. Karen Helene Ulltveit-moe"

Transcription

1 Outside and inside at the same time? Lessons from Norway for Brexit Karen Helene Ulltveit-moe Professor, University of Oslo Member of the Executive Board of the Norwegian Central Bank Member of the EEA review committee

2 Outline An alternative association to the EU the EEA 20 years of experience as an outsider Trade FDI Migration and the labour market

3 What is the EEA? EEA brings together the EU and 3 out of 4 EFTA countries. EEA is an international agreement that allows the EFTA states to participate fully in the Single Market. covers the four freedoms covers competition and state aid rules covers horizontal policies on consumer protection, company law, environment, social policy and statistics provides for cooperation in several flanking policies, e.g. research, education, employment, culture and enterprise entered into force in 1992 was thought to be a temporary agreement. EEA is a dynamic agreement: the common rules of the EEA agreement are updated continuously with new EU legislation

4 What is the EEA not? EEA does not cover common agriculture and fisheries policies (although provisions on trade in these products) EEA does not cover the customs union, common trade policy, common foreign and security policy justice and home affairs direct and indirect taxation

5 EEA review Main messages A government appointed committee reviewed Norway s agreements with the EU examining the political, legal, administrative, economic and other social consequences of the EEA Agreement but was explicitly not asked to discuss alternative arrangements. The committee concluded that despite being outside the EU Norway has seen "extensive Europeanisation" in the past 20 years EU law has been incorporated into around 170 (of 600) Norwegian statues and approx 1000 Norwegian regulations ¾ member: Norway has incorporated approx three-quarters of all EU legislative acts into Norwegian legislation. Norwegian authorities neither can nor wish to isolate Norway from ever closer and binding integration processes in the EU Norway is far more closely associated with the EU than most realise.

6 EEA review Main messages cont d Norway is neither completely outside nor fully inside Inherent structural tensions and problems, but has worked much better than many expected. Large economic benefits, but great democratic deficit since Norway has to adopt EU policies "without voting rights". Norway is not represented in decision-making processes that have direct consequences for Norway and has no significant influence on them. The form of association with the EU dampens political engagement and debate in Norway and makes it difficult to monitor the Government and hold it accountable in its European policy. The democratic deficit is the price Norway pays for enjoying the benefits of European integration without being a member of the organisation, that is driving these developments. The EEA has ensured a stable and relatively predictable framework for relations with the EU, Norway s most important economic partner. The EEA is a cheap agreement: Compared to natural peers, e.g. Sweden and Germany, Norway pay considerably less relative to GDP (around 1/3)

7 Trade Norway s share of trade with EEA approx the same as in 1994 Even though Norwegian export has increased by 40 percent Intra-EEA trade has increased even in times where the emerging markets have been on the rise Norway's Trade with the EU Forgone trade opportunities? Baier et al (2008) estimate that the trade effect the EU is 3-4 times higher than that of the EEA, i.e. a significantly bigger positive effect on trade from EU membership than from EEA association Export (Mainland) to the EU Import from EU Intra-EU Trade

8 Trade What have we learnt? Non-tariff barriers matter: The Single Market versus Customs union, EU VAT & WTO Firms suffer from NTBs related to Norway not being member of the EU Customs union and the EU VAT SMEs move business to Sweden to avoid obstacles Firms/Industries not covered by the EEA have suffered Lack of common competition and state aid rules has allowed for antidumping og anti-subsidieprocedures against the fishery industry Trade with the EEA has meant smooth and slow structural change with less adjustment costs as compared to the opening of WTO towards the East Trading with similar countries gives more modest gains but also less pain and lesser problems of redistribution

9 FDI

10 Foreign Direct Investment Norway and the EU versus intra-eu FDI (1999=100) Outward FDI: Norway to the EU Intra EU FDI Inward Inward FDI: the EU to Norway Source: Eurostat (FDI stock, 1999=100)

11 FDI stock (Current NOK) FDI Stock(Index) Foreign Direct Investment Norway vs. Sweden, Switzerland and Germany Inward FDI to Norway from EU15 Inward FDI to Sweden from EU15 Inward FDI to Germany from EU15 Inward FDI to Norway from EU15 Inward FDI to Sweden from EU15 Inward FDI to Switzerland from EU15 Source: Eurostat

12 FDI The lack of complete integration into the EU Lack of knowledge about the EEA agreement Uncertainty about how stable and predictable the EEA agreement is relative to EU membership has probably had a negative impact on business development and FDI But so has probably also High costs Limited home market Impossible to disentangle

13 Immigration

14 Growth in immigration from EU15-countries (1998=100) Immigration to Germany Immigration to Sweden Immigration to Norway Immigration to Switzerland 0

15 Growth in immigration from new EU members (1998=100) Immigration to Germany immigration to Norway immigration to Sweden Immigration to Switzerland

16 Impact of the EEA on the labour market Significant labour migration from the East without tensions Still stricter labour market regulation (e.g. working hours) possible because most labour market directives are minimum directives Based on e.g. the act ensuring the general application of collective agreements a downward pressure on wages due to labour immigration has been dampened. Still low wage inequality, i.e. very different from the UK Increasing challenges due to a generous welfare system but also due to structural change triggered by the oil price fall Lessons for the UK: if you want to dampen the impact of labour migration, barring your borders is not the solution, while national policies are.

17 Good luck!

18 How integrated in the EU? Internal EEA trade (export +import): EEA countries trade with other EEA countries as share of total trade (2010) 90.0 % 80.0 % 70.0 % 60.0 % 50.0 % 40.0 % 30.0 % 20.0 % 10.0 % 0.0 %

Outside and inside Norway s agreements with the European Union

Outside and inside Norway s agreements with the European Union Outside and inside Norway s agreements with the European Union Karen Helene Ulltveit-moe Professor, University of Oslo Member of the EEA review committee Background On 7 January 2010, the Norwegian Government

More information

Christian KEUSCHNIGG. Europe after Brexit

Christian KEUSCHNIGG. Europe after Brexit Christian KEUSCHNIGG Europe after Brexit Executive MBL-HSG & HSG Alumni, Zürich, 13. September 2016 Wirtschaftspolitisches Zentrum Wien St. Gallen www.wpz-fgn.com, office@wpz-fgn.com Plan of Talk Brexit

More information

THE TRUTH ABOUT TRADE BEYOND THE EU. Why exiting the EU takes the UK into a world of new opportunity.

THE TRUTH ABOUT TRADE BEYOND THE EU. Why exiting the EU takes the UK into a world of new opportunity. THE TRUTH ABOUT TRADE BEYOND THE EU Why exiting the EU takes the UK into a world of new opportunity. THE TRUTH ABOUT TRADE BEYOND THE EU The Truth About Trade Beyond the EU booklet outlines the reasons

More information

Herbert Smith Freehills Insights membership, each of which provide to a greater or

Herbert Smith Freehills Insights membership, each of which provide to a greater or COMPETITION REGULATION & TRADE BRIEFING FUTURE UK TRADE RELATIONS WITH THE EU AND WITH THIRD COUNTRIES AUGUST 2016 London As an EU member state the UK is currently part of the EU internal market, which

More information

ASEAN Economic Community (AEC): Can ASEAN learn from the EU?

ASEAN Economic Community (AEC): Can ASEAN learn from the EU? ASEAN Economic Community (AEC): Can ASEAN learn from the EU? Dr Patrick Ziegenhain Visiting Professor Dept of Business Administration Atma Jaya Catholic University Jakarta 23 February 2016 ASEAN ASEAN

More information

Brexit essentials: Alternatives to EU membership

Brexit essentials: Alternatives to EU membership Brexit essentials: Alternatives to EU membership This is the second in a series of briefings covering the essential aspects of the UK s referendum on EU membership, which Prime Minister David Cameron has

More information

Brexit: Six Months Later. Karl Whelan University College Dublin AEA Meetings, Chicago January 6, 2017

Brexit: Six Months Later. Karl Whelan University College Dublin AEA Meetings, Chicago January 6, 2017 Brexit: Six Months Later Karl Whelan University College Dublin AEA Meetings, Chicago January 6, 2017 Reasons for Brexit Vote Brexit Referendum followed Years of fiscal austerity. Flat GDP per capita for

More information

6 UK-EU relations after Brexit: What is best for the UK economy?

6 UK-EU relations after Brexit: What is best for the UK economy? 6 UK-EU relations after Brexit: What is best for the UK economy? LSE; LSE and CEPR Several models exist for the UK s relationship with the EU following Brexit. This chapter argues that from an economic

More information

UK Productivity Gap: Skills, management and innovation

UK Productivity Gap: Skills, management and innovation UK Productivity Gap: Skills, management and innovation March 2005 Professor John Van Reenen Director, Centre for Economic Performance, LSE 1 1. Overview The Productivity Gap (output per hour) What is it

More information

Swiss policy on the EU: The bilateral agreements

Swiss policy on the EU: The bilateral agreements Federal Department of Foreign Affairs FDFA Federal Department of Economic Affairs FDEA Integration Office FDFA/FDEA Information Swiss policy on the EU: The bilateral agreements June 2010 Bilateral agreements

More information

Support Materials. GCE Economics H061/H461: Exemplar Materials. AS/A Level Economics

Support Materials. GCE Economics H061/H461: Exemplar Materials. AS/A Level Economics Support Materials GCE Economics H061/H461: Exemplar Materials AS/A Level Economics Contents 1 Unit F581: Markets In Action 3 2 Unit F582: The National and International Economy 6 3 Unit F583: Economics

More information

Quo vadis, Europe? Economic Perspectives on Brexit

Quo vadis, Europe? Economic Perspectives on Brexit Seminar für Internationale Wirtschaftsbeziehungen Dr. Jan Schymik Quo vadis, Europe? Economic Perspectives on Brexit Vertretungsvorlesung Außenhandelstheorie und -politik 26. Januar 2017 Introduction UK

More information

THE AEC PROGRESS, CHALLENGES AND PROSPECTS

THE AEC PROGRESS, CHALLENGES AND PROSPECTS THE AEC PROGRESS, CHALLENGES AND PROSPECTS Siow Yue CHIA Singapore Institute of International Affairs Conference on Future of World Trading System: Asian Perspective ADBI-WTO, Geneva 11-12 March 2013 Drivers

More information

Trading places: Is EU membership still the best option for UK trade?

Trading places: Is EU membership still the best option for UK trade? Trading places: Is EU membership still the best option for UK trade? June 2012 By Stephen Booth and Christopher Howarth Copyright 2012 Open Europe Published by Open Europe 7 Tufton St London SW1P 3QN Tel:

More information

Chapter 20. Optimum Currency Areas and the European Experience. Slides prepared by Thomas Bishop

Chapter 20. Optimum Currency Areas and the European Experience. Slides prepared by Thomas Bishop Chapter 20 Optimum Currency Areas and the European Experience Slides prepared by Thomas Bishop Preview The European Union The European Monetary System Policies of the EU and the EMS Theory of optimal currency

More information

Impact of the economic crisis on trade, foreign investment, and employment in Egypt

Impact of the economic crisis on trade, foreign investment, and employment in Egypt Impact of the economic crisis on trade, foreign investment, and employment in Egypt Dr Arne Klau Senior Trade Economist The Global Jobs Pact in Egypt: Roundtable on Mitigating the Impact of the Global

More information

THE EUROPEAN ECONOMIC AREA

THE EUROPEAN ECONOMIC AREA THE EUROPEAN ECONOMIC AREA (EEA), SWITZERLAND AND THE NORTH The European Economic Area (EEA) was set up in 1994 to extend the EU s provisions on its internal market to the European Free Trade Area (EFTA)

More information

HIGHLIGHTS. There is a clear trend in the OECD area towards. which is reflected in the economic and innovative performance of certain OECD countries.

HIGHLIGHTS. There is a clear trend in the OECD area towards. which is reflected in the economic and innovative performance of certain OECD countries. HIGHLIGHTS The ability to create, distribute and exploit knowledge is increasingly central to competitive advantage, wealth creation and better standards of living. The STI Scoreboard 2001 presents the

More information

Life after BREXIT: What are the UK s options outside the European Union? Swati Dhingra and Thomas Sampson

Life after BREXIT: What are the UK s options outside the European Union? Swati Dhingra and Thomas Sampson PAPERBREXIT01 Life after BREXIT: What are the UK s options outside the European Union? #CEPBREXIT Swati Dhingra and Thomas Sampson Disclaimer: The Centre for Economic Performance (CEP) is a politically

More information

Lesson 7 The Single Market and Free Trade

Lesson 7 The Single Market and Free Trade The Single Market and Free Trade Lesson Essential Question How has the single market benefited millions of Europeans? Introduction The single market is designed to eliminate barriers and simplify existing

More information

EU EXTERNAL ECONOMIC RELATIONS

EU EXTERNAL ECONOMIC RELATIONS EU EXTERNAL ECONOMIC RELATIONS Common Customs Tariff (CCT) Common Commercial Policy (CCP) R.Greaves LEGAL PERSONALITY & COMPETENCES (Article 235 TFEU) Articles 2-6 TFEU on categories and areas of Union

More information

Globalisation and the Knowledge Economy the Case of Ireland

Globalisation and the Knowledge Economy the Case of Ireland Globalisation and the Knowledge Economy the Case of Ireland Andrew McDowell Chief Economist October 2006 The Development of the Irish Economy 1988 1997 2004 MAY 1997 MAY 1997 2 Ireland s Economic Transformation

More information

INTERNATIONAL ECONOMICS, FINANCE AND TRADE Vol. II - Globalization and the Evolution of Trade - Pasquale M. Sgro

INTERNATIONAL ECONOMICS, FINANCE AND TRADE Vol. II - Globalization and the Evolution of Trade - Pasquale M. Sgro GLOBALIZATION AND THE EVOLUTION OF TRADE Pasquale M. School of Economics, Deakin University, Melbourne, Australia Keywords: Accountability, capital flow, certification, competition policy, core regions,

More information

Policy Uncertainty, Trade and Welfare: Theory and Evidence for China and the U.S.

Policy Uncertainty, Trade and Welfare: Theory and Evidence for China and the U.S. Policy Uncertainty, Trade and Welfare: Theory and Evidence for China and the U.S. by Kyle Handley and Nuno Limao Discussion by Anna Maria Mayda Georgetown University and CEPR Exploring the Price of Policy

More information

WILL CHINA S SLOWDOWN BRING HEADWINDS OR OPPORTUNITIES FOR EUROPE AND CENTRAL ASIA?

WILL CHINA S SLOWDOWN BRING HEADWINDS OR OPPORTUNITIES FOR EUROPE AND CENTRAL ASIA? ECA Economic Update April 216 WILL CHINA S SLOWDOWN BRING HEADWINDS OR OPPORTUNITIES FOR EUROPE AND CENTRAL ASIA? Maurizio Bussolo Chief Economist Office and Asia Region April 29, 216 Bruegel, Brussels,

More information

FREE MOVEMENT & NATIONAL WELFARE

FREE MOVEMENT & NATIONAL WELFARE FREE MOVEMENT & NATIONAL WELFARE 20 November 2013 Jörg Tagger, Deputy Head of Unit "Free movement of workers and coordination of social security systems" Welfare Benefits for mobile EEA citizens in a changed

More information

Chapter 20. Preview. What Is the EU? Optimum Currency Areas and the European Experience

Chapter 20. Preview. What Is the EU? Optimum Currency Areas and the European Experience Chapter 20 Optimum Currency Areas and the European Experience Slides prepared by Thomas Bishop Copyright 2009 Pearson Addison-Wesley. All rights reserved. Preview The European Union The European Monetary

More information

Can free-trade policies help to reduce gender inequalities in employment and wages?

Can free-trade policies help to reduce gender inequalities in employment and wages? Janneke Pieters Wageningen University, the Netherlands, and IZA, Germany Trade liberalization and gender inequality Can free-trade policies help to reduce gender inequalities in employment and wages? Keywords:

More information

Trade and Trade Policy Developments in the Baltic States after Regaining Independence before Joining the EU

Trade and Trade Policy Developments in the Baltic States after Regaining Independence before Joining the EU Trade and Trade Policy Developments in the Baltic States after Regaining Independence before Joining the EU by Dr. Erika Sumilo, University of Latvia, Riga, Latvia for XIV International Economic History

More information

WT/TPR/S/328 Georgia - 7 -

WT/TPR/S/328 Georgia - 7 - - 7 - SUMMARY 1. At the start of the review period (2009 to 2015), average annual real GDP growth rebounded from -3.7% in 2009 to an average of 5.8% in 2010-2013. GDP per capita increased by over half

More information

Contemporary theory, practice and cases By Ilan Alon, Eugene Jaffe, Christiane Prange & Donata Vianelli

Contemporary theory, practice and cases By Ilan Alon, Eugene Jaffe, Christiane Prange & Donata Vianelli Global Marketing Contemporary theory, practice and cases By Ilan Alon, Eugene Jaffe, Christiane Prange & Donata Vianelli Chapter 3 Regional Trade and Emerging Markets Learning objectives After reading

More information

The United Kingdom in the European context top-line reflections from the European Social Survey

The United Kingdom in the European context top-line reflections from the European Social Survey The United Kingdom in the European context top-line reflections from the European Social Survey Rory Fitzgerald and Elissa Sibley 1 With the forthcoming referendum on Britain s membership of the European

More information

SUMMARY. Migration. Integration in the labour market

SUMMARY. Migration. Integration in the labour market SUMMARY The purpose of this report is to compare the integration of immigrants in Norway with immigrants in the other Scandinavian countries and in Europe. The most important question was therefore: How

More information

5 TAKEAWAYS ON BREXIT: Outlining Possible Scenarios for a New UK-EU Relationship and their Impact on Citizens POLICY DIGEST

5 TAKEAWAYS ON BREXIT: Outlining Possible Scenarios for a New UK-EU Relationship and their Impact on Citizens POLICY DIGEST 5 TAKEAWAYS ON BREXIT: Outlining Possible Scenarios for a New UK-EU Relationship and their Impact on Citizens POLICY DIGEST TABLE OF CONTENTS Introduction... 3 Partnership and objectives... 3 Structure

More information

SECTION THREE BENEFITS OF THE JSEPA

SECTION THREE BENEFITS OF THE JSEPA SECTION THREE BENEFITS OF THE JSEPA 1. Section Two described the possible scope of the JSEPA and elaborated on the benefits that could be derived from the proposed initiatives under the JSEPA. This section

More information

Internal EU27 preparatory discussions on the framework for the future relationship: "Mobility"

Internal EU27 preparatory discussions on the framework for the future relationship: Mobility 21 February 2018 TF50 (2018) 31 Commission to EU 27 Subject: Internal EU27 preparatory discussions on the framework for the future relationship: "Mobility" Origin: European Commission, Task Force for the

More information

Information note on the UK referendum decision and its potential implications

Information note on the UK referendum decision and its potential implications Information note on the UK referendum decision and its potential implications The AIRE Centre is a specialist legal charity. We use the power of European law to protect your human rights. On the 23rd June

More information

Natural Trading Blocs, Deep Integration and the European Neighbourhood Policy

Natural Trading Blocs, Deep Integration and the European Neighbourhood Policy Natural Trading Blocs, Deep Integration and the European Neighbourhood Policy Jim Rollo University of Sussex Brussels Economic Forum 22 April 2005 1 Acknowledgements this presentation draws on work (both

More information

The Economics of European Integration

The Economics of European Integration The Economics of European Integration Chapter 12 Trade Policy EU25 67% EFTA 4% CIS 2% EU25 exports, 2003 EFTA 4% EU25 67% CIS 3% Pattern of Trade: Facts Turkey 1% Other 24% Turkey 1% Other 25% Other Europe

More information

Participation in the EU Internal Market: the experience of NMS and its relevance to the ENP

Participation in the EU Internal Market: the experience of NMS and its relevance to the ENP Center for Social and Economic Research Marek Dabrowski Participation in the EU Internal Market: the experience of NMS and its relevance to the ENP Presentation prepared for the 10th Euro-Med Economic

More information

TRADE IN THE GLOBAL ECONOMY

TRADE IN THE GLOBAL ECONOMY TRADE IN THE GLOBAL ECONOMY Learning Objectives Understand basic terms and concepts as applied to international trade. Understand basic ideas of why countries trade. Understand basic facts for trade Understand

More information

ASEAN ECONOMIC BULLETIN January 2016

ASEAN ECONOMIC BULLETIN January 2016 ASEAN ECONOMIC BULLETIN January 2016 HIGHLIGHTS Although 2016 started with heightened global uncertainty, it could be a better year for ASEAN s economy, equivalent to the world s 7 th largest. The IMF

More information

Executive Summary. International mobility of human resources in science and technology is of growing importance

Executive Summary. International mobility of human resources in science and technology is of growing importance ISBN 978-92-64-04774-7 The Global Competition for Talent Mobility of the Highly Skilled OECD 2008 Executive Summary International mobility of human resources in science and technology is of growing importance

More information

Ministry of Trade and Industry Republic of Trinidad and Tobago SMALL STATES IN TRANSITION FROM VULNERABILITY TO COMPETITIVENESS SAMOA

Ministry of Trade and Industry Republic of Trinidad and Tobago SMALL STATES IN TRANSITION FROM VULNERABILITY TO COMPETITIVENESS SAMOA Ministry of Trade and Industry Republic of Trinidad and Tobago Commonwealth Secretariat SMALL STATES IN TRANSITION FROM VULNERABILITY TO COMPETITIVENESS SAMOA DEVELOPING COMPETITIVE ADVANTAGE THROUGH SERVICES

More information

COMPENDIUM SHORT PROFILE: CZECH REPUBLIC

COMPENDIUM SHORT PROFILE: CZECH REPUBLIC COMPENDIUM SHORT PROFILE: CZECH REPUBLIC (based on the comprehensive country profile of Pavla Petrová: http://www.culturalpolicies.net/web/czechia.php) 1. Facts and figures Political system: Parliamentary

More information

INTERNAL MARKET AND CONSUMER PROTECTION. The Consequences of Brexit for the Customs Union and the Internal Market Acquis for Goods KEY FINDINGS

INTERNAL MARKET AND CONSUMER PROTECTION. The Consequences of Brexit for the Customs Union and the Internal Market Acquis for Goods KEY FINDINGS Briefing INTERNAL MARKET AND CONSUMER PROTECTION The Consequences of Brexit for the Customs Union and the Internal Market Acquis for Goods KEY FINDINGS The consequences of Brexit depend on the model which

More information

ECONOMIC INTEGRATION

ECONOMIC INTEGRATION ECONOMIC INTEGRATION Introduction Economic integration is best viewed as a spectrum with the various integrative agreements in effect today lying in the middle of this spectrum. The level of integration

More information

[Check Against Delivery]

[Check Against Delivery] [Check Against Delivery] Case No: 47637 Event No: 756936 Subject: Statement by Mr Frank J. Büchel, Vice-President of the EFTA Surveillance Authority at the EFTA Ministerial Meeting in Liechtenstein on

More information

The UK's position in the WTO

The UK's position in the WTO 1 The UK's position in the WTO Summary When the UK ceases to be an EU Member State its external trade policy will no longer be determined collectively at EU level. Instead, the UK will be responsible for

More information

ECONOMIC CONSEQUENCES OF BREXIT FOR THE UNITED KINGDOM

ECONOMIC CONSEQUENCES OF BREXIT FOR THE UNITED KINGDOM ECONOMIC CONSEQUENCES OF BREXIT FOR THE UNITED KINGDOM TABLE&OF&CONTENTS! ABSTRACT...2 INTRODUCTION...2 CHAPTER 1: METHODOLOGY...4 1.1 Delimitations...4 1.2 Scientific Approach...4 1.3 Methods...5 1.4

More information

March 2016 Potential and Outlook for the

March 2016 Potential and Outlook for the March 2016 Potential and Outlook for the Pacific Alliance Outline 1 Pacific Alliance: aiming for integration into the global economy 2 Pacific Alliance: outlook and challenges Page 2 China United States

More information

Institute for Public Policy Research THE SHARED MARKET A NEW PROPOSAL FOR A FUTURE PARTNERSHIP BETWEEN THE UK AND THE EU. Tom Kibasi and Marley Morris

Institute for Public Policy Research THE SHARED MARKET A NEW PROPOSAL FOR A FUTURE PARTNERSHIP BETWEEN THE UK AND THE EU. Tom Kibasi and Marley Morris Institute for Public Policy Research THE SHARED MARKET A NEW PROPOSAL FOR A FUTURE PARTNERSHIP BETWEEN THE UK AND THE EU Tom Kibasi and Marley Morris December 2017 ABOUT IPPR IPPR, the Institute for Public

More information

Governing Body 328th Session, Geneva, 27 October 10 November 2016

Governing Body 328th Session, Geneva, 27 October 10 November 2016 INTERNATIONAL LABOUR OFFICE Governing Body 328th Session, Geneva, 27 October 10 November 2016 Policy Development Section Employment and Social Protection Segment GB.328/POL/3 POL Date: 29 September 2016

More information

1873 to 1914 saw the Currency Union of Denmark, Sweden and Norway. The common currency was the krona, crown, made up of 100 öre the Euro of its day!

1873 to 1914 saw the Currency Union of Denmark, Sweden and Norway. The common currency was the krona, crown, made up of 100 öre the Euro of its day! Jan-Erik Enestam Secretary General Nordic Council VIA NORDICA 2008: A common Nordic infra market A COMPETITIVE NORDIC AND EUROPEAN MARKET-POSSIBILITIES AND CHALLENGES Ladies and Gentlemen! Allow me to

More information

A Successful Brexit: Four Economic Tests

A Successful Brexit: Four Economic Tests A Successful Brexit: Four Economic Tests A Successful Brexit: Contents Introduction... page 3 Test 1 the economy and public finance... page 7 Test 2 fairness... page 11 Test 3 openness... page 15 Test

More information

International Business Economics

International Business Economics International Business Economics Instructions: 3 points demand: Determine whether the statement is true or false and motivate your answer; 9 points demand: short essay. 1. Globalisation: Describe the globalisation

More information

EU-UKRAINE Deep and Comprehensive Free-trade Area. New Opportunities for Europe. Dr. Ricardo Giucci Berlin Economics/German Advisory Group Ukraine

EU-UKRAINE Deep and Comprehensive Free-trade Area. New Opportunities for Europe. Dr. Ricardo Giucci Berlin Economics/German Advisory Group Ukraine EU-UKRAINE Deep and Comprehensive Free-trade Area. New Opportunities for Europe Dr. Ricardo Giucci Berlin Economics/German Advisory Group Ukraine International conference at the Istituto Affari Internazionali

More information

1.1. Trade in goods: main trends Rankings: imports, exports and overall trade volume Philippines trade with EU Member States

1.1. Trade in goods: main trends Rankings: imports, exports and overall trade volume Philippines trade with EU Member States Front Cover Contents Message from the EU Trade Commissioner 2 Overview 3 1. Trade Relations 1.1. Trade in goods: main trends 1.2. Trade in services 1.3. Rankings: imports, exports and overall trade volume

More information

The consequences of Brexit

The consequences of Brexit The consequences of Brexit on Services and Establishment Different Scenarios for Exit and Future Cooperation Prof. Dr. Friedemann Kainer University of Mannheim 28 February 2017 IMCO workshop on Implications

More information

Did Turkey s economy recover from the crisis? Did we out-compete rivals? Sarp Kalkan Economic Policy Analyst

Did Turkey s economy recover from the crisis? Did we out-compete rivals? Sarp Kalkan Economic Policy Analyst Did Turkey s economy recover from the crisis? Did we out-compete rivals? Sarp Kalkan Economic Policy Analyst Hüseyin Ekrem Cünedioğlu Research Associate TEPAV Policy Note September 2010 Did Turkey s economy

More information

Reasons to vote REMAIN

Reasons to vote REMAIN Why we should stay in the EU: A guide for Young Professionals Reasons to vote REMAIN YOUR EVERYDAY LIFE Brits paid less to use their phones on holidays in Europe last year thanks to EU laws We benefit

More information

What does a soft Brexit mean for immigration from the EU?

What does a soft Brexit mean for immigration from the EU? What does a soft Brexit mean for immigration from the EU? European Union: MW 415 Summary 1. A Soft Brexit entails the UK remaining in the Single Market when the UK leaves the EU. While this claims to prioritise

More information

Comparative Economic Geography

Comparative Economic Geography Comparative Economic Geography 1 WORLD POPULATION gross world product (GWP) The GWP Global GDP In 2012: GWP totalled approximately US $83.12 trillion in terms of PPP while the per capita GWP was approx.

More information

TOWARD AN INTEGRATED ASEAN LABOR MARKET FOR ASEAN ECONOMIC COMMUNITY: PROSPECTS AND CHALLENGES FOR CLML COUNTRIES AND THE ROLE OF TAIWAN

TOWARD AN INTEGRATED ASEAN LABOR MARKET FOR ASEAN ECONOMIC COMMUNITY: PROSPECTS AND CHALLENGES FOR CLML COUNTRIES AND THE ROLE OF TAIWAN TOWARD AN INTEGRATED ASEAN LABOR MARKET FOR ASEAN ECONOMIC COMMUNITY: PROSPECTS AND CHALLENGES FOR CLML COUNTRIES AND THE ROLE OF TAIWAN NGUYEN HUY HOANG, PHD INSTITUTE FOR SOUTHEAST ASIAN STUDIES, HANOI,

More information

Globalization and the Polish Economy: Stylized Facts and CGE Model Simulations

Globalization and the Polish Economy: Stylized Facts and CGE Model Simulations Globalization and the Polish Economy: Stylized Facts and CGE Model Simulations Michał Gradzewicz, Jan Hagemejer, Zbigniew Żółkiewski National Bank of Poland* Abstract The aim of the paper is to quantitatively

More information

The Costs and Benefits of Leaving the EU: Trade Effects

The Costs and Benefits of Leaving the EU: Trade Effects The Costs and Benefits of Leaving the EU: Trade Effects Swati Dhingra Hanwei Huang Gianmarco Ottaviano João Paulo Pessoa LSE/CEP LSE/CEP LSE/CEP FGV-EESP/CEP Thomas Sampson John Van Reenen LSE/CEP MIT/CEP

More information

Determinants of the Trade Balance in Industrialized Countries

Determinants of the Trade Balance in Industrialized Countries Determinants of the Trade Balance in Industrialized Countries Martin Falk FIW workshop foreign direct investment Wien, 16 Oktober 2008 Motivation large and persistent trade deficits USA, Greece, Portugal,

More information

FOREIGN DIRECT INVESTMENT IN KOSOVA Policy Environment and Promotional Strategy

FOREIGN DIRECT INVESTMENT IN KOSOVA Policy Environment and Promotional Strategy FOREIGN DIRECT INVESTMENT IN KOSOVA Policy Environment and Promotional Strategy Research Report September 19, 2002 This Report is prepared as part of the project Promoting Economic Development Through

More information

DELOCALISATION OF PRODUCTION: THREATS AND OPPORTUNITIES FOR ESTONIA Abstract

DELOCALISATION OF PRODUCTION: THREATS AND OPPORTUNITIES FOR ESTONIA Abstract DELOCALISATION OF PRODUCTION: THREATS AND OPPORTUNITIES FOR ESTONIA Abstract Prof. Dr. Kaarel Kilvits Professor and Director of School of Economics and Business, Department of Public Economy, Tallinn University

More information

3 How might lower EU migration affect the UK economy after Brexit? 1

3 How might lower EU migration affect the UK economy after Brexit? 1 3 How might lower EU migration affect the UK economy after Brexit? 1 Key points EU migrants have played an increasing role in the UK economy since enlargement of the EU in 24, with particularly large impacts

More information

BREXIT: WHAT HAPPENED? WHY? WHAT NEXT?

BREXIT: WHAT HAPPENED? WHY? WHAT NEXT? BREXIT: WHAT HAPPENED? WHY? WHAT NEXT? By Richard Peel, published 22.08.16 On 23 June 2016, the people of the United Kingdom voted in a referendum. The question each voter had to answer was: Should the

More information

PALESTINE LIBERATION ORGANIZATION FOR THE BENEFIT OF THE PALESTINIAN AUTHORITY

PALESTINE LIBERATION ORGANIZATION FOR THE BENEFIT OF THE PALESTINIAN AUTHORITY INTERIM FREE TRADE AGREEMENT BETWEEN THE REPUBLIC OF TURKEY AND PALESTINE LIBERATION ORGANIZATION FOR THE BENEFIT OF THE PALESTINIAN AUTHORITY Interim Free Trade Agreement Between the Republic of Turkey

More information

Cii Crisis Impact on Regions Recovery Prospects in G 7. Prospects for World Trade. Competitiveness What Next?

Cii Crisis Impact on Regions Recovery Prospects in G 7. Prospects for World Trade. Competitiveness What Next? Crisis i Without t a Sense of Crisis i GlobalCrisis Crisis, Recovery and Finnish Regions Dan Steinbock Research Director of International Business India, China and America Institute dsteinbock@gmail.com

More information

No. 2/16 July Analysis of the economic situation in the countries of Central and Eastern Europe

No. 2/16 July Analysis of the economic situation in the countries of Central and Eastern Europe No. 2/16 July 2016 Analysis of the economic situation in the countries of Central and Eastern Europe No. 2/16 July 2016 Analysis of the economic situation in the countries of Central and Eastern Europe

More information

Brexit: A Negotiation Update. Testimony by Dr. Thomas Wright Director, Center for the U.S. and Europe, and Senior Fellow The Brookings Institution

Brexit: A Negotiation Update. Testimony by Dr. Thomas Wright Director, Center for the U.S. and Europe, and Senior Fellow The Brookings Institution Brexit: A Negotiation Update Testimony by Dr. Thomas Wright Director, Center for the U.S. and Europe, and Senior Fellow The Brookings Institution Hearing by the Subcommittee on Europe, Europe and Emerging

More information

Trade Policy Politics and Governance in BRICS: A South African Perspective

Trade Policy Politics and Governance in BRICS: A South African Perspective Trade Policy Politics and Governance in BRICS: A South African Perspective Dr Adrino Mazenda 27-28 October 2016 Introduction The structure of my presentation will be as follows: Rationale of the Study

More information

AQA Economics A-level

AQA Economics A-level AQA Economics A-level Macroeconomics Topic 6: The International Economy 6.1 Globalisation Notes Characteristics of globalisation: Globalisation is the ever increasing integration of the world s local,

More information

EAST ASIA AND EUROPE: RECENT TRENDS IN FOREIGN DIRECT INVESTMENT. GPN Working Paper 4 February 2003

EAST ASIA AND EUROPE: RECENT TRENDS IN FOREIGN DIRECT INVESTMENT. GPN Working Paper 4 February 2003 EAST ASIA AND EUROPE: RECENT TRENDS IN FOREIGN DIRECT INVESTMENT GPN Working Paper 4 February 2003 Working paper prepared as part of the ESRC Research Project R000238535: Making the Connections: Global

More information

Europe and the US: Preferences for Redistribution

Europe and the US: Preferences for Redistribution Europe and the US: Preferences for Redistribution Peter Haan J. W. Goethe Universität Summer term, 2010 Peter Haan (J. W. Goethe Universität) Europe and the US: Preferences for Redistribution Summer term,

More information

Explanations of Slow Growth in Productivity and Real Wages

Explanations of Slow Growth in Productivity and Real Wages Explanations of Slow Growth in Productivity and Real Wages America s Greatest Economic Problem? Introduction Slow growth in real wages is closely related to slow growth in productivity. Only by raising

More information

9.1 Human Development Index Development improving the material conditions diffusion of knowledge and technology Measure by HDI

9.1 Human Development Index Development improving the material conditions diffusion of knowledge and technology Measure by HDI 9: Development 9.1 Human Development Index Development improving the material conditions diffusion of knowledge and technology Measure by HDI Standard of living Access to knowledge Life expectancy 9.1

More information

EU Internal Market Law

EU Internal Market Law EU Internal Market Law Course held by Prof Gaetano Vitellino Lecture No 2 «Economic and Political Reasons for Building a European Single Market» Prof Gaetano Vitellino Why national markets should be integrated

More information

The economic crisis in the low income CIS: fiscal consequences and policy responses. Sudharshan Canagarajah World Bank June 2010

The economic crisis in the low income CIS: fiscal consequences and policy responses. Sudharshan Canagarajah World Bank June 2010 The economic crisis in the low income CIS: fiscal consequences and policy responses Sudharshan Canagarajah World Bank June 2010 Issues addressed by this presentation 1. Nature and causes of the crisis

More information

All European countries are not the same!

All European countries are not the same! rapport nr 12/15 All European countries are not the same! The Dublin Regulation and onward migration in Europe Marianne Takle & Marie Louise Seeberg All European countries are not the same! The Dublin

More information

Eastern Europe: Economic Developments and Outlook. Miroslav Singer

Eastern Europe: Economic Developments and Outlook. Miroslav Singer Eastern Europe: Economic Developments and Outlook Miroslav Singer Governor, Czech National Bank Distinguished Speakers Seminar European Economics & Financial Centre London, 22 July 2014 Miroslav Význam

More information

Migration to Norway. Key note address to NFU conference: Globalisation: Nation States, Forced Migration and Human Rights Trondheim Nov 2008

Migration to Norway. Key note address to NFU conference: Globalisation: Nation States, Forced Migration and Human Rights Trondheim Nov 2008 1 Migration to Norway Numbers, reasons, consequences, and a little on living conditions Key note address to NFU conference: Globalisation: Nation States, Forced Migration and Human Rights Trondheim 27-28

More information

E U R O P E A N E C O N O M I C A R E A. Restricted Ref: Annexes ELEVENTH MEETING OF THE EEA EFTA FORUM OF LOCAL AND REGIONAL AUTHORITIES

E U R O P E A N E C O N O M I C A R E A. Restricted Ref: Annexes ELEVENTH MEETING OF THE EEA EFTA FORUM OF LOCAL AND REGIONAL AUTHORITIES E U R O P E A N E C O N O M I C A R E A FORUM OF LOCAL AND REGIONAL AUTHORITIES OF THE EEA EFTA STATES Restricted Ref: 15-6501 3 Annexes ELEVENTH MEETING OF THE EEA EFTA FORUM OF LOCAL AND REGIONAL AUTHORITIES

More information

The single European Market, the European Monetary Union and United States and Japanese FDI flows to the EU

The single European Market, the European Monetary Union and United States and Japanese FDI flows to the EU The single European Market, the European Monetary Union and United States and Japanese FDI flows to the EU Irini Smaragdi, Constantinos Katrakilidis and Nikos C. Varsakelis 1 * Key words: foreign direct

More information

Economics of the Trans- Pacific Partnership (TPP)

Economics of the Trans- Pacific Partnership (TPP) Economics of the Trans- Pacific Partnership (TPP) AED/IS 4540 International Commerce and the World Economy Professor Sheldon sheldon.1@osu.edu What is TPP? Trans-Pacific Trade Partnership (TPP), signed

More information

WILPF Norway Section Report 1 May May 2016

WILPF Norway Section Report 1 May May 2016 WILPF Norway Section Report 1 May 2015 1 May 2016 WILPF Norway became a Section in 1915 Contact Details Address Storgata 11. N 0155 Oslo Phone/ Fax +47 93089644 Official email address ikff@ikff.no Official

More information

Switzerland s European policy

Switzerland s European policy Switzerland s European policy January 2018 Switzerland is located in the heart of Europe and is surrounded almost entirely by member states of the European Union (EU). In view of its geographic and cultural

More information

Geopolitics and Commodity Markets. Marcel Baartman 28 June 2017

Geopolitics and Commodity Markets. Marcel Baartman 28 June 2017 Geopolitics and Commodity Markets Marcel Baartman 28 June 2017 Turbulent Times Geopolitical Events & Trends Geopolitics and Commodity Markets Conclusions Complex business: many types of commodities: energy,

More information

Frequently asked questions

Frequently asked questions Frequently asked questions on globalisation, free trade, the WTO and NAMA The following questions could come up in conversations with people about trade so have a read through of the answers to get familiar

More information

Potential Economic Impact of Brexit on Ireland

Potential Economic Impact of Brexit on Ireland Potential Economic Impact of Brexit on Ireland Iulia Siedschlag Economic and Social Research Institute and Trinity College Dublin ENEPRI Conference, Brussels, 7 February 2017 Ireland and the UK Strong

More information

The present picture: Migrants in Europe

The present picture: Migrants in Europe The present picture: Migrants in Europe The EU15 has about as many foreign born as USA (40 million), with a somewhat lower share in total population (10% versus 13.7%) 2.3 million are foreign born from

More information

3 November Briefing Note PORTUGAL S DEMOGRAPHIC CRISIS WILLIAM STERNBERG

3 November Briefing Note PORTUGAL S DEMOGRAPHIC CRISIS WILLIAM STERNBERG 3 November 2015 Briefing Note PORTUGAL S DEMOGRAPHIC CRISIS WILLIAM STERNBERG 1. INTRODUCTION In recent years EU members have experienced many of the same demographic trends; a declining fertility rate,

More information

A COMPARISON OF ARIZONA TO NATIONS OF COMPARABLE SIZE

A COMPARISON OF ARIZONA TO NATIONS OF COMPARABLE SIZE A COMPARISON OF ARIZONA TO NATIONS OF COMPARABLE SIZE A Report from the Office of the University Economist July 2009 Dennis Hoffman, Ph.D. Professor of Economics, University Economist, and Director, L.

More information

The major bilateral agreements Switzerland EU

The major bilateral agreements Switzerland EU Federal Department of Foreign Affairs FDFA Directorate for European Affairs DEA The major bilateral agreements Switzerland EU August 2017 Bilateral agreements Switzerland EU B. I B. II 2 The first bilateral

More information

APEC Study Center Consortium 2014 Qingdao, China. Topic I New Trend of Asia-Pacific Economic Integration INTER-BLOC COMMUNICATION

APEC Study Center Consortium 2014 Qingdao, China. Topic I New Trend of Asia-Pacific Economic Integration INTER-BLOC COMMUNICATION APEC Study Center Consortium 2014 Qingdao, China Tatiana Flegontova Maria Ptashkina Topic I New Trend of Asia-Pacific Economic Integration INTER-BLOC COMMUNICATION Abstract: Asia-Pacific is one of the

More information

THIS IS EFTA YEARS 2010 Anniversary Edition

THIS IS EFTA YEARS 2010 Anniversary Edition THIS IS EFTA 2010 1960EFTA YEARS 2010 Anniversary Edition This is EFTA 2010 Editor: Tore Grønningsæter Cover: Katrine Nordli Printed by Drifosett, Brussels Layout by Orangemetalic Printed March 2010 Cover

More information