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

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

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

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)

Thickness-dependent polarization of strained BiFeO3 films with constant tetragonality

We measure the remnant polarization of ferroelectric domains in BiFeO3 films down to 3.6 nm using low energy electron and photoelectron emission microscopy. The measured polarization decays strongly below a critical thickness of 5-7 nm predicted by continuous medium theory whereas the tetragonal distortion does not change. We resolve this apparent contradiction using first-principles-based effective Hamiltonian calculations. In ultra thin films the energetics of near open circuit electrical boundary conditions, i.e. unscreened depolarizing field, drive the system through a phase transition from single out-of-plane polarization to a nanoscale stripe domains, giving rise to an average remnant polarization close to zero as measured by the electron microscopy whilst maintaining the relatively large tetragonal distortion imposed by the non-zero polarization state of each individual domain.Comment: main article: 5 pages, 6 figures; supplementary materials: 6 pages, 6 figures. Published in Phys. Rev. Let

Microscopic correlation between chemical and electronic states in epitaxial graphene on SiC(000-1)

We present energy filtered electron emission spectromicroscopy with spatial and wave-vector resolution on few layer epitaxial graphene on SiC$(000-1) grown by furnace annealing. Low energy electron microscopy shows that more than 80% of the sample is covered by 2-3 graphene layers. C1s spectromicroscopy provides an independent measurement of the graphene thickness distribution map. The work function, measured by photoelectron emission microscopy (PEEM), varies across the surface from 4.34 to 4.50eV according to both the graphene thickness and the graphene-SiC interface chemical state. At least two SiC surface chemical states (i.e., two different SiC surface structures) are present at the graphene/SiC interface. Charge transfer occurs at each graphene/SiC interface. K-space PEEM gives 3D maps of the k_|| pi - pi* band dispersion in micron scale regions show that the Dirac point shifts as a function of graphene thickness. Novel Bragg diffraction of the Dirac cones via the superlattice formed by the commensurately rotated graphene sheets is observed. The experiments underline the importance of lateral and spectroscopic resolution on the scale of future electronic devices in order to precisely characterize the transport properties and band alignments

Coherent and incoherent bands in La and Rh doped Sr3Ir2O7

In Sr2IrO4 and Sr3Ir2O7, correlations, magnetism and spin-orbit coupling compete on similar energy scales, creating a new context to study metal-insulator transitions (MIT). We use here Angle-Resolved photoemission to investigate the MIT as a function of hole and electron doping in Sr3Ir2O7, obtained respectively by Ir/Rh and Sr/La substitutions. We show that there is a clear reduction as a function of doping of the gap between a lower and upper band on both sides of the Fermi level, from 0.2eV to 0.05eV. Although these two bands have a counterpart in band structure calculations, they are characterized by a very different degree of coherence. The upper band exhibits clear quasiparticle peaks, while the lower band is very broad and loses weight as a function of doping. Moreover, their ARPES spectral weights obey different periodicities, reinforcing the idea of their different nature. We argue that a very similar situation occurs in Sr2IrO4 and conclude that the physics of the two families is essentially the same

Time-resolved PhotoEmission Spectroscopy on a Metal/Ferroelectric Heterostructure

In thin film ferroelectric capacitor the chemical and electronic structure of the electrode/FE interface can play a crucial role in determining the kinetics of polarization switching. We investigate the electronic structure of a Pt/BaTiO3/SrTiO3:Nb capacitor using time-resolved photoemission spectroscopy. The chemical, electronic and depth sensitivity of core level photoemission is used to probe the transient response of different parts of the upper electrode/ferroelectric interface to voltage pulse induced polarization reversal. The linear response of the electronic structure agrees quantitatively with a simple RC circuit model. The non-linear response due to the polarization switch is demonstrated by the time-resolved response of the characteristic core levels of the electrode and the ferroelectric. Adjustment of the RC circuit model allows a first estimation of the Pt/BTO interface capacitance. The experiment shows the interface capacitance is at least 100 times higher than the bulk capacitance of the BTO film, in qualitative agreement with theoretical predictions from the literature.Comment: 7 pages, 10 figures. Submitted to Phys. Rev.