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This paper analyzes how the introduction of the euro has affected the degree of integration of Eu... more This paper analyzes how the introduction of the euro has affected the degree of integration of European stock markets. Particular emphasis is given to whether stock market integration (which has taken the form of merger processes, cooperation agreements and common trading procedures under a rational paradigm shaped by globalisation and technological innovation) between Economic and Monetary Union member states is limited by the judicial and political hesitancy of those states. The paper uses the theory of international economic integration as its base. Its aim is twofold: (1) It analyses the economic, political and cultural costs and benefits arising from the integration of European stock markets; and (2) It also evaluates the impact of political factors on the process of integration as well as the implications of stock market integration for EU member states. Empirical evidence suggests that globalisation and technological advances have resulted in greater integration of European stock exchanges as part of an overarching trend of international stock market integration, which has led to two parallel processes: greater competition between financial centres in member states in a bid to attract capital, as well as a need for a progressive ceding of sovereignty by member states to facilitate the convergence of fiscal, regulatory and supervisory infrastructure.
SSRN Electronic Journal, 2000
ABSTRACT The competitive advantage of the European Union in the maritime industry sector has to b... more ABSTRACT The competitive advantage of the European Union in the maritime industry sector has to be sustained and depends mainly on the sector's performance, its flexibility and continuation of competitiveness. In this regard, shipbuilding is an important and strategic industry in a number of European Union member states and for the European Community as a whole. Research and development investment for boosting the sector is needed and has to focus on the development of critical and dynamic technologies both for products and production processes, helping the maritime industry compete successfully in global markets and benefit from the exploitation of the so called "motorways of the sea."The STARNETregio (FP7) project has been conceived to increase the overall capacity of regional players in the regions Friuli Venezia Giulia (Italy), Slovenia and the County of Rijeka (Croatia) to invest in research and development and carry out research activities concerning the marine industry, in specific the shipbuilding and port equipments, intended to strengthen and develop the sector's scientific and technological basis and ultimately the economic growth of the regions.This paper researches the results of the first phase of the project: establishment of the cluster framework, mapping of regional development plans and R&D key actors.
This paper analyzes how the introduction of the euro has affected the degree of integration of Eu... more This paper analyzes how the introduction of the euro has affected the degree of integration of European stock markets. Particular emphasis is given to whether stock market integration (which has taken the form of merger processes, cooperation agreements and common trading procedures under a rational paradigm shaped by globalisation and technological innovation) between Economic and Monetary Union member states is limited by the judicial and political hesitancy of those states. The paper uses the theory of international economic integration as its base. Its aim is twofold: (1) It analyses the economic, political and cultural costs and benefits arising from the integration of European stock markets; and (2) It also evaluates the impact of political factors on the process of integration as well as the implications of stock market integration for EU member states. Empirical evidence suggests that globalisation and technological advances have resulted in greater integration of European stock exchanges as part of an overarching trend of international stock market integration, which has led to two parallel processes: greater competition between financial centres in member states in a bid to attract capital, as well as a need for a progressive ceding of sovereignty by member states to facilitate the convergence of fiscal, regulatory and supervisory infrastructure.
SSRN Electronic Journal, 2000
ABSTRACT The competitive advantage of the European Union in the maritime industry sector has to b... more ABSTRACT The competitive advantage of the European Union in the maritime industry sector has to be sustained and depends mainly on the sector's performance, its flexibility and continuation of competitiveness. In this regard, shipbuilding is an important and strategic industry in a number of European Union member states and for the European Community as a whole. Research and development investment for boosting the sector is needed and has to focus on the development of critical and dynamic technologies both for products and production processes, helping the maritime industry compete successfully in global markets and benefit from the exploitation of the so called "motorways of the sea."The STARNETregio (FP7) project has been conceived to increase the overall capacity of regional players in the regions Friuli Venezia Giulia (Italy), Slovenia and the County of Rijeka (Croatia) to invest in research and development and carry out research activities concerning the marine industry, in specific the shipbuilding and port equipments, intended to strengthen and develop the sector's scientific and technological basis and ultimately the economic growth of the regions.This paper researches the results of the first phase of the project: establishment of the cluster framework, mapping of regional development plans and R&D key actors.