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

On the trade balance effects of free trade agreements between the EU-15 and the CEEC-4 countries

The expansion of regionalism has spawned an extensive theoretical literature analysing the effects of Free Trade Agreements (FTAs) on trade flows. In this paper we focus on FTAs (also called European agreements) between the European Union (EU-15) and the Central and Eastern European countries (CEEC-4, i.e. Bulgaria, Hungary, Poland and Romania) and model their effects on trade flows by treating the agreement variable as endogenous. Our theoretical framework is the gravity model, and the econometric method used to isolate and eliminate the potential endogeneity bias of the agreement variable is the fixed effect vector decomposition (FEVD) technique. Our estimation results indicate a positive and significant impact of FTAs on trade flows. However, exports and imports are affected differently, 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

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)

Toxicological analysis of stilbenes against the fall armyworm, \u3ci\u3eSpodoptera frugiperda\u3c/i\u3e

The fall armyworm (FAW), Spodoptera frugiperda, is a global pest of multiple economically important row crops and the development of resistance to commercially available insecticidal classes has inhibited FAW control. Thus, there is a need to identify chemical scaffolds that can provide inspiration for the development of novel insecticides for FAW management. This study aimed to assess the sensitivity of central neurons and susceptibility of FAW to chloride channel modulators to establish a platform for repurposing existing insecticides or designing new chemicals capable of controlling FAW. Potency of select chloride channel modulators were initially studied against FAW central neuron firing rate and rank order of potency was determined to be fipronil \u3e lindane \u3e Z-stilbene \u3e DIDS \u3e GABA \u3e E-stilbene. Toxicity bioassays identified fipronil and lindane as the two most toxic modulators studied with topical LD50\u27s of 41 and 75 ng/mg of caterpillar, respectively. Interestingly, Z-stilbene was toxic at 300 ng/mg of caterpillar, but no toxicity was observed with DIDS or E-stilbene. The significant shift in potency between stilbene isomers indicates structure-activity relationships between stilbene chemistry and the binding site in FAW may exist. The data presented in this study defines the potency of select chloride channel modulators to FAW neural activity and survivorship to establish a platform for development of novel chemical agents to control FAW populations. Although stilbenes may hold promise for insecticide development, the low toxicity of the scaffolds tested in this study dampen enthusiasm for their development into FAW specific insecticides

Ordered droplet structures at the liquid crystal surface and elastic-capillary colloidal interactions

We demonstrate a variety of ordered patterns, including hexagonal structures and chains, formed by colloidal particles (droplets) at the free surface of a nematic liquid crystal (LC). The surface placement introduces a new type of particle interaction as compared to particles entirely in the LC bulk. Namely, director deformations caused by the particle lead to distortions of the interface and thus to capillary attraction. The elastic-capillary coupling is strong enough to remain relevant even at the micron scale when its buoyancy-capillary counterpart becomes irrelevant.Comment: 10 pages, 3 figures, to be published in Physical Review Letter