This paper shows that evidence form existing research results on positive trade effects of a more homogeneous professional regulation cannot be transferred without restrictions to intra-European trade with professional services in the sectors of accounting, architectural, engineering and legal...

This paper is a case study that focuses on possible incentive problems in the management of Collateralized Loan Obligations (CLOs). CLOs are the most important type of special purpose vehicles in the leveraged loan market, and their managers appear to have a considerable impact on performance....

The paper accounts for the determinants of inward foreign direct investment in business services across the EU-27 regions. Together with the traditional variables considered in the literature (market size, market quality, agglomeration economies, labour cost, technology, human capital), we focus...

The main purpose of this study is to determine what are the main factors which stand behind the diversity in performance of business services measured by their contribution to growth in the EU Member States. We show that in addition to typical growth factors which enhance labour productivity,...

The European Union is the world’s largest and deepest free trade zone. Amongst its members, it has abolished tariffs and lowered non-tariff barriers. This has led to trade creation within Europe and to trade diversion between EU countries and outsiders. The Transatlantic Trade and Investment...

The issues of zero trade observations and the validity of the log linear transformation of the gravity equation have generated a number of debates in the literature with differing claims about the most suitable estimation technique. To produce unbiased and consistent estimates for policy making,...

We propose a geoadditive negative binomial model (Geo-NB-GAM) for regional count data which allows us to simultaneously address some important methodological issues, such as spatial clustering, nonlinearities and overdispersion. We apply this model to study location determinants of inward...

The paper studies the impact of migration policy liberalisation on international labour migration in the enlarged EU in a structural NEG approach. The liberalisation of migration policy would induce additional 1.80 - 2.98 percent of the total EU workforce to change their country of location,...

The integration of developing countries into the world trading system is an important development mechanism to reduce poverty in these countries. Regional Trade Agreements (RTAs) have recently spread in terms of quantity and type. Some of these, like the Economic Partnership Agreements (EPAs)...

The paper basically aims to clarify the level of price competitiveness of the Turkish firms towards the EU Single Market in aggregate level. Thus it naturally examines the demand for exports and imports for Turkey in relation to the EU. In order to model the trade between Turkey and the EU, we...