This paper assesses the effectiveness of the Meroni doctrine in the light of the recent judgment in the ESMA case. The first part explains in detail the problem of delegation of powers in the EU from the perspective of the principal-agent theory and complements it with the analysis of the...

This report analyses China's approach to attaining a dominant position in international markets through a combination of industrial, research & innovation (R&I), trade and foreign direct investment (FDI) policies. It also offers an assessment of China's current position compared to the EU and US...

This study analyses institutional features national authorities should have in order to apply common policies effectively. It shows that the effective implementation of EU law and policy can be achieved without increased control. The article suggests that benchmarking of the results of the...

This paper develops a theory of accountability as a means of increasing regulatory effectiveness in complex policy environments and applies it to the supervisory powers that have been assigned to the European Central Bank through the Single Supervisory Mechanism. It finds that the use of the SSM...

This paper examines the application of state aid rules to sale of public enterprises. Recent cases confirm the well-established principles that in order to exclude state aid from the sale of a public enterprise i) the selling authority must act as a private vendor who seeks to maximize revenue;...

European Union funding co-managed by Member State authorities is considered to be a state resource that may only be granted in conformity with the rules on state aid. Compliance with both state aid and Structural Funds' rules appears to be problematic, hence this study identifies the relevant...

State aid involves the transfer of state resources. These are resources which are controlled by public authorities. EU funds which are granted directly to undertakings without coming under the control of a public authority of a Member State cannot be considered to be state resources. However, EU...