Environmental regulation and competitiveness: Evidence from Romania

According to the pollution haven hypotheses differences in environmental regulation affect trade flows and plant location. Specifically, environmental stringency should decrease exports and increase imports of “dirty” goods. This paper estimates a gravity model to establish whether the implementation of more stringent regulations in Romania has indeed affected its competitiveness and decreased exports towards its European trading partners. Our findings do not provide empirical support to the pollution haven hypothesis, i.e. environmental stringency is not found to affect significantly total trade, or its components (pollution intensive trade and pollution intensive trade related to non-resource-based trade)

Financial development and economic growth: Evidence from ten new EU members

This paper reviews the main features of the banking and financial sector in ten new EU members, and then examines the relationship between financial development and economic growth in these countries by estimating a dynamic panel model over the period 1994-2007. The evidence suggests that the stock and credit markets are still underdeveloped in these economies, and that their contribution to economic growth is limited owing to a lack of financial depth. By contrast, a more efficient banking sector is found to have accelerated growth. Furthermore, Granger causality test indicate that causality runs from financial development to economic growth, but not in the opposite direction

Trade specialisation, and economic convergence: Evidence from two eastern european countries

This paper analyses trade specialisation dynamics in two Eastern European countries (Romania and Bulgaria – EEC-2) vis-à-vis the core EU member states (EU-15) over the period 1990-2006. Specifically, we focus on whether there is a shift towards intra-industry trade leading to economic convergence and technological catch-up. We use recently developed static (FEM, REM and FEVD) and dynamic (GMM) panel data methods which take into account possible heterogeneity. Our empirical results indicate that intra-industry trade has indeed increased, but it is of the vertical rather than the horizontal type, resulting in complementary rather than competitive production patterns

The impact of association agreements on trade flows and the trade balance: Evidence from the CEEC-4

In this paper we focus on the trade balance effects of free trade agreements between the EU-15 and the CEEC-4 countries using a dynamic panel data approach. Our theoretical framework is the gravity model, and the econometric method used to analyse the effect of the agreement variable is the system generalized method of moments (GMM). Our estimation results indicate a positive and significant impact of FTAs on trade flows. However, exports and imports are affected in different ways, leading to some disparity in trade flow performance between countries. Therefore, there is an asymmetric impact on the trade balance, the agreement variable resulting in a trade balance deficit in the CEEC-4

Determinants of pollution abatement and control expenditure: Evidence from Romania

The aim of the present study is to shed some light on the factors affecting Pollution Abatement and Control Expenditure (PACE) in the context of a transition economy such as Romania, in contrast to the existing literature which mostly focuses on developed economies. Specifically, we use survey data of the Romanian National Institute of Statistics and estimate Multilevel Regression Model (MRM) to investigate the determinants of environmental behaviour at plant level. Our results reveal some important differences vis-à-vis the developed countries, such as a less significant role for collective action and environmental taxes, which suggests some possible policy changes to achieve better environmental outcomes

Fracture toughness of boron/aluminum laminates with various proportions of 0 deg and plus or minus 45 deg

The fracture toughness of boron/aluminum laminates was measured on sheet specimens containing central slits of various lengths that represent cracks. The specimens were loaded axially and had various widths. The sheets were made with five laminate orientation. Fracture toughness was calculated for each laminate orientation. Specimens began failing at the ends of the slit with what appeared to be tensile failures of fibers in the primary load carrying laminae. A general fracture toughness parameter independent of laminate orientation was derived on the basis of fiber failure in the principal load carrying laminae. The value of this parameter was proportional to the critical value of the stress intensity factor. The constant of proportionality depended only on the elastic constants of the laminates

A method for determining local elastoplastic stress and strain in metallurgically bonded notched laminates subjected to a loading cycle

A semianalytical method was developed for determining elastoplastic cyclic stresses and strains at notch roots in metallurgically bonded metal laminates. The method is based on the Neuber equation, which was used with an effective stress-strain curve for the laminate. It was applied to laminates containing a circular hole which were subjected to one cycle of reversed loading. The laminates consisted of two elasto-perfectly-plastic materials with different yield strengths and with either equal or different Young's moduli. A laminate of high-strength titanium alloy with alternate layers of commercially pure titanium was also analyzed. The accuracy of the method was evaluated by comparing the stresses and strains with those calculated from a finite-element analysis. The results estimated by the simple method based on the Neuber equation agreed closely with the results computed from the more elaborate finite-element analysis

Tensile stress-strain behavior of boron/aluminum laminates

The tensile stress-strain behavior of five types of boron/aluminum laminates was investigated. Longitudinal and transverse stress-strain curves were obtained for monotonic loading to failure and for three cycles of loading to successively higher load levels. The laminate strengths predicted by assuming that the zero deg plies failed first correlated well with the experimental results. The stress-strain curves for all the boron/aluminum laminates were nonlinear except at very small strains. Within the small linear regions, elastic constants calculated from laminate theory corresponded to those obtained experimentally to within 10 to 20 percent. A limited amount of cyclic loading did not affect the ultimate strength and strain for the boron/aluminum laminates. The laminates, however, exhibited a permanent strain on unloading. The Ramberg-Osgood equation was fitted to the stress-strain curves to obtain average curves for the various laminates

Directions of Mobile Ad Hoc Networks efficiency increase

The directions of efficiency increase of the self-organizing wireless networks MANET are proposed. They consist in the implementation of new methods and radio network management functions, coordination and intellectualization of the methods, corresponding to different OSI-model levels, and also coordination of the network resource management purposes distribution

Trade Flows, Private Credit and the COVID-19-Pandemic: Panel Evidence from 35 OECD Countries

Copyright © 2021 The Author(s). This paper analyses the impact of the Covid-19 pandemic on exports and imports in the case of 35 OECD countries during the 2019Q1-2021Q2 period using a dynamic panel approach, specifically the system Generalized Method of Moments (GMM). In contrast to earlier studies, the empirical specification incorporates not only an index for the restrictive (and fiscal) measures adopted by national governments, but also an interaction term with private credit which captures the role of the financial sector in the context of the current crisis. The findings suggest that the negative effects of the Covid-19 pandemic on international trade can be attenuated through (policies supporting) private credit, which confirms the importance of the trade-finance nexus