Competition Policy in Europe – Temporary or Long-Lasting Changes?
During the first phase of the global crisis, the scale and scope of state aid increased at an unprecedented rate all over the world. Although their approval is – uniquely – part of competition policy in the European Union, the Commission and DG Competition did not oppose the unprecedented expansion of state aid. On the contrary, they played an active role in the modification and enforcement of frameworks. The paper analyses how EU regulation, prohibiting state aid for distorting competition, might be compatible with recent developments in this field. It comes to the conclusion that the European Commission proved to be strong enough to keep the regulation of distribution methods under control and to try to enforce the basic principles, but was unable to stem the tide of aid. By doing so, it contributed to the accumulation and growth of state deficits, the repeated destabilisation of financial markets and sovereign debts, and thus to the escalation of the second wave of the financial crisis in Europe in 2011.
Versenybarát és versenykorlátozó állam - válság előtt, válság közben [The pro-competition and a competition-restricting state - before and during the crisis]
Az allam szerepe a gazdasag műkodeseben, igy a kozerdeket szolgalo verseny fenn¬tartasaban es erősiteseben a liberalizalas evtizedeiben is alapvető volt, magaban foglalta a verseny- es piacszabalyozast, az allami tamogatasokat es az allami megrendeleseket, vagyis a verseny elenkitesenek es korlatozasanak sokfele eszkozet. A cikk a magyar allam es a verseny kapcsolatat tekinti at a valsag kitoreset meg¬előzően, hogy osszevethesse azt a valsagkezeles kezdeten mutatkozo nemzetkozi es hazai jelensegekkel. Amellett ervel, hogy a versennyel kapcsolatos allami magatartas korabban is ketarcu volt, es a valsag nem valtoztatta meg alapvetően sem ezt a kettősseget, sem a beavatkozas modszereit, csak az eszkozok kombinacioja es lepteke modosult. Mikozben a valsagkezeles vilagszerte altalaban az allam szerepenek novekedesevel jart, Magyarorszagon viszonylag csekely maradt az allami piacteremtes es -tamogatas mozgastere es merteke. A gazdasagelenkites kenyszerű visszafogottsaga fekezte a versenykorlatozast, ami a kovetkező evekben előnyt jelenthet. Journal of Economic Literature (JEL ) kod: H2, L4.
Complexity, Network-Decisions And Alternative Risk Premia: Some New Theories Of Structural Change And Portfolio Decisions.
Structural Change is the basis for many decisions such as government fiscal and monetary policies, government interventions, corporate-expenditure decisions, corporate strategic decisions, portfolio management decisions in finance; household allocation decisions, etc.. Structural change in industries and national economies is increasingly more difficult to detect partly because of the growth and dominance of Complex Systems and “Networks” in modern industries and economies – such Networks and Complex Systems include GVCs (global value chains), retail store networks; franchising networks; internet networks; services networks; credit-chains in industries; online social networks; etc.. The relationship between Complexity and Structural Change is well established in the physics, applied math and economic dynamics literatures. Traditional definitions and modeling of structural change have erroneously focused on changes in labor, technological progress, market share, and or capital – which are grossly inadequate in the new economy and post- global financial crisis (as confirmed by changes in the global retailing and housing industries and other industries). Also the modeling of structural change seems to be constrained by the availability of data, and often omits the relationship between structural change on one hand, and globalization, financial stability and international financial contagion. This article: i) introduces the Operations Strategy Model of structural change, explains how it differs from the Lewis Model of Structural Change; and explains the often omitted relationship between operations strategy (of companies and government agencies) and structural change; ii) introduces other new Complexity-based models/theories of Structural Change in industries; iii) reviews the relationships among Operations Research, Complexity and Structural Change; iv) explains the symbiotic relationship between structural change on one hand, and economic growth, financial stability, financial contagion and globalization; v) discusses the significant gap between academic research and practice and explains some issues and factors that should be considered in the development and testing of structural change models; vi) explains how alternative risk premia can be generated from new models of Structural Change.