Survey of competition policy development in an emerging economy of Europe: Selected example: Republic of Slovenia

GRIN Verlag
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Essay from the year 2006 in the subject Business economics - Economic Policy, grade: 5,0 (sehr gut), University of Pécs (Faculty of Business and Economics), course: Public Policy I, 23 entries in the bibliography, language: English, abstract: This essay includes a general overview of competition policy in the European Union. Special attention is spent on the development of Competition Policy of the Republic of Slovenia.
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GRIN Verlag
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Dec 5, 2007
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Business & Economics / Economics / General
Political Science / Public Policy / Economic Policy
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Essay from the year 2007 in the subject Business economics - Economic Policy, grade: 5,0 (sehr gut), University of Pécs (Faculty of Business and Economics), course: Public Policy II, 24 entries in the bibliography, language: English, abstract: As first approach to the topic it seems helpful to me to define which factors make a region. In general the literature mentions three ways how regions could be differentiated: • Definition through enumeration, i.e. with examples • Definition in the negative through enumeration of “non-regions” • Definition on basis if constructive criteria Most common in literature is the last approach, meanwhile the European Union in particular also follows the first possibility for defining the regions within the E.U. As a workable definition of a region the following definition on basis of constructive criteria is suggested: Regions A region is a geographical part of a whole economy that could be identified by means of political and administrative institutions. As constructive criteria a region is defined through free trade between certain regions, mobility of production factors, consistent currency, fiscal and macro-economic policy and shared (superior) institutions. The wider a nations’ area is and the more regions a nation contains, the bigger the chance that the regions have different levels of economic development and economic power. The overall development of an economy is the sum of the development of the individual regions, more exactly the sum of individual economies. From this follows that the economic power of the certain regions must be bettered should the macroeconomic development be improved. This cognition lead to the development of a special field of public policy: regional (economic) policies. Regional policy should achieve two major goals: • maximise economic growth and • minimise social costs As I would show in the next chapter, regional (economic) policy includes a number of instruments. From this the definition of regional policy is as follows: Regional policy Regional policy is the sum of law, strategies and measures for setting and influencing a framework and processes in particular areas of a nation through the government. With special regional policy government seeks to reduce spatial disparities in economic.
Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine?

Is it culture, the weather, geography? Perhaps ignorance of what the right policies are?

Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence?

Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities.

The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories.

Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including:

- China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West?

- Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority?

- What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions?

Why Nations Fail will change the way you look at—and understand—the world. 
Essay from the year 2007 in the subject Business economics - Economic Policy, grade: 4,0 (gut), University of Pécs (Faculty of Business and Economics), course: Corporate Finance, 26 entries in the bibliography, language: English, abstract: Two fields of policy have a strong impact on a national economy and its development. The first of the two policies that are designed to supplement each other, falls into governments responsibility, more exactly it is formulated by the minister of finance. This one is fiscal policy. The second one, monetary policy, is designed by the national bank. For making clear the difference between both I would like to explain both policies as an introduction to the topic of this paper. “The government’s choice of tax and spending programs, which influences the amount and maturity of government debt as well as the level, composition, and distribution of national output and income. Many summary indicators of fiscal policy exist. Some, such as the budget surplus or deficit, are narrowly budgetary. Others attempt to reflect aspects of how fiscal policy affects the economy. For example, a decrease in the standarized-budget surplus (or increase in the standarized-budget deficit) measures the short-term stimulus of demand that results from higher spending or lower taxes. The fiscal gap measures whether current fiscal policy implies a budget that is close enough to balance to be sustainable over the long term. The fiscal gap represents the amount by which taxes would have to be raised, or spending cut, to keep the ratio of debt to GDP from rising forever. Other important measures of fiscal policy include the ratios of total taxes and total spending to GDP.” In the way of deciding about the amount of expenditures and premises for spending, fiscal policy is an important tool for government for setting macroeconomic conditions.
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