No description available.

No description available.

This thesis covers the subject of economic integration in the East African setting. Following a review of custom union theory literature, a closer examination is made of the historical and economic background of the East African Common Market. A case is then made for Zambian entry into the Common Market with particular emphasis put on the effect it would have on the growth of G.D.P. (impact effect) and the development of industry. An empirical examination of the impact effect indicates that Tanzania will be the largest net gainer. A model is also presented that shows the effect of integration on the time horizon of industrial growth. Finally, the thesis concludes that there are net gains that can be enjoyed by all parties if integration is implemented in a rational manner and industrial planning is executed by an inter-country industrial planning board that would allocate industry among the member countries based on sound economic criteria. / Arts, Faculty of / Vancouver School of Economics / Graduate

This thesis is submitted in fulfilment of the requirements for the degree of Master of Management in Finance and Investment. Faculty of Commerce, Law and Management 2017 / The vicious quest for higher risk-adjusted returns through diversification of portfolios has seen an enormous amount of foreign capital flows into new emerging markets. However, the success of any strategy profoundly depends on the degrees of comovements among markets - higher comovements limit the possible gains from diversification. It has been argued that the very act of chasing after these diversification benefits, which mainly includes financial globalisation, has actually resulted in the erosion of the benefits themselves. In addition, aspects such as international trade, the establishment of trade blocs and liberalisation of market controls has further reduced these diversification benefits. In this study, the long-run cointegration, short-run causality and volatility linkages were examined using six COMESA markets indices. The goal of the study was to ascertain whether the establishment of this bloc has resulted in increased association among the member markets. The astonishing rate at which globalisation has been growing at has drawn with it both opportunities and risks for investors. The Engle-Granger, the Johansen cointegration technique and the ARDL test methods revealed that the markets integrated in the long run, a result indicative of low diversification benefits across COMESA markets. However, the weak short-run causality from the causality tests revealed that despite the strong long-run relationship, an active investment strategy that seeks to diversify portfolios in the short-run could still yield enormous diversification benefits. A subsequent examination of the volatility linkages using generalised autoregressive conditional heteroscedasticity models revealed that uniformity of volatility structures in terms volatility persistence, leverage effects and risk premium across the markets, indicative of the high likelihood of volatility spill-overs across the markets. This implies that, despite the weak short-run causality, the benefits from short-run diversification can still be quite low due to the high likelihood of volatility spillovers across these markets. In light of these results, investors within the COMESA markets should rather focus on other markets outside the COMESA as diversification destinations. / MT2017

Magister Commercii - MCom / The aim of this study was to determine which strategy would be most appropriate to enhance regional trade integration in COMESA so that it can provide to its member states the benefits they expect to have from it. / South Africa

The aim of this study was to determine which strategy would be most appropriate to enhance regional trade integration in COMESA so that it can provide to its member states the benefits they expect to have from it.

L'Afrique doit vivre au rythme de la mondialisation, sinon, dit-on, elle courrait le risque de se marginaliser, alors qu'elle dispose des outils pour cette adaptation. A cet effet, elle doit lutter contre la fragmentation de ses marchés et se construire des espaces régionaux supranationaux. Dans cette optique, l'intégration économique a été choisie par les Etats de l'Afrique de l'Ouest comme une voie de développement, car le cadre d'un marché unifié permet d'éliminer les rentes monopolistiques. Les Etats africains engagés dans ce processus d'intégration dépassent le cadre restreint de leurs marchés confinés, en vue de la création d'un espace commun de libre concurrence. Toutefois, le jeu de cette libre concurrence peut être faussé par certaines pratiques anticoncurrentielles, qu'il faut donc réglementer. L'avènement d'un environnement concurrentiel, principal objectif des organisations d'intégration ouest-africaines que sont l'UEMOA et la CEDEAO, ne sera donc possible qu'au moyen de règles conduisant à une concurrence effective. L'effectivité d'un droit communautaire de la concurrence dépendra essentiellement de sa mise en œuvre et de sa cohérence avec le cadre économique dans lequel s'exerce la liberté de concurrence, c'est-à-dire le Marché commun. Par la mise en œuvre d'une politique de concurrence et la mise en place de politiques économiques efficaces pour le fonctionnement du Marché commun, l'Afrique de l'Ouest parviendra au développent économique. La thèse met en évidence la nécessaire interaction entre l'efficience du Marché commun et la politique régionale de concurrence en Afrique de l'Ouest, à travers les instruments de construction du Marché et les instruments de la protection de la concurrence. / Africa should live in the frame of globalization. Otherwise it could be pushed off despite it owns proper tools for such an adaptation. Africa should wrestle against markets segmentations and built up supranational economic areas. In this aim economical integration, has been set up by western African countries as a way for development, in as the frame of a single markets allows elimination of monopolies. African states involved in this integration process overcome the restricted areas in the view to create a free competition space. Nevertheless, this free competition might be disturbed by anti-competition practices, to be regulated. Coming to a competitive surrounding, main target for West African unions (such as UEMOA and CEDEAO), won't be affordable apart from adopting rules leading to a true competition. Effectiveness of community competition law will be mainly linked to its implementation and its cohesion with the economical frame where is applied the free competition i.e the common market. Western Africa will reach economic development by setting up a competition policy and economical efficient policy. The thesis underlines the necessary interaction between un efficient common market and original competitions policy in western Africa thru legal instruments for building up the markets and competition protection.

第壹章導論：說明本論文的研究動機與目的在於瞭解貨幣聯盟理論的概況 ，而研究範圍僅限定在貨幣政策與財政政策，至於研究途徑主要為政治經 濟研究途徑與文獻分析途徑，而研究架構則採擷自奈伊（Joseph S. Nye ）的整合理論。歐洲經濟暨貨幣整合的發展：首先介紹共同市場（包括單 一市場）在產業面與金融面的經濟效益分析；繼而介紹歐洲貨幣制度，它 的前身 主要構成要素及其績效評估；最後介紹經濟暨貨幣聯盟，包括其 涵意、狄洛報告內容、其他對應方案，乃至馬斯垂克條約中貨幣政策、經 濟政策和過渡條款的有關規定，並對其做一般性評估。第三章經濟暨貨幣 聯盟的整合策略：首先探討政策上的整合，分別從區域間結構調整、貨幣 政策的協調及預算政策的協調來看；繼而探討制度上的整合，分別描述新 的多邊監督程序、單一通貨制及歐洲中央銀行；堆最後探討態度上的整合 ，分別從跨國行為者與各會員國政府態度來討論。第四章經濟暨貨幣聯盟 的整合結果：本章將分別從政治化、重分配、選擇權減少及外部化四種情 況來探討。 第五章結論：本章將分別從個別會員國、整個共同體及整個 國際環境三個層面來為本文做一總結。

The development key point of world economy is gradually transferred to theAsia Pacific Zone, and the development key point of Asia Pacific economic zone focuses on the East Asia. As a result, a blue-printed plan of the ¡§East Asia economic zone¡¨ attracts the attention of all people in the world. There is no doubt that one day ¡§East Asia economic zone¡¨ will play an important role in world economy. Besides, with the developmental trend both of Global Economic integration and of regional bloc, the strategy of one-nation module will no longer work. Nations should follow EU, NAFTA, ASEAN and APEC, and unite together for mutual benefit of making themselves more competitive and of winning a more important position in the new world economy. Since both sides of the Taiwan Straits join the WTO, on one hand, our domestic market has opened gradually, and on the other, Mainland China¡¦s economy has grown quickly, winning a important role in International organization of economy and trade. The proposals regarding regional economic integration, such as ¡§ASEAN plus one¡¨ and ¡§ASEAN plus three,¡¨ enhance Mainland China influence on neighboring nations. After Mainland China signed the trade agreement(CEPA) respectively with Hong Kong and Macao, marginalizing Taiwan¡¦s economic and trade. As a result, cooperative institution, such as common market, across both sides of the Taiwan Straits is necessary. The stably economic exchange between the two sides of the Strait is one of the critical factors of estimating the stabilities of Asia Pacific economic zone¡¦s development. After the two trips succeeded, one is Kuomintang¡¦s chairman Lien Chan¡¦s trip on the 26th April, this yean and the other is People First Party¡¦s chairman James Song¡¦s party on the 5th May, make the blue-printed plan of common market between the two sides of the Strait practicable. Global Economic integrationRegional Economic integration¡Beconomic and trade marginalization¡Bcommon market¡Bcooperative institution

Lietuvos ekonomikos raidos tendencijos neatskiriamos nuo pasaulio ekonomikos raidos tendencijų. 2004 metų gegužės 1 dieną Lietuvos istorijoje atsivėrė naujas puslapis – šalis tapo Europos Sąjungos nare. Po ilgų okupacijos metų, audringo pereinamojo į demokratinę visuomenę laikotarpio, prasidėjusio 1990 metų kovo 11-ąją atkūrus valstybingumą, Lietuva įsijungia į demokratinių Europos šalių bendruomenę. Lietuvos įstojimo į ES tikslas pagrįstas politiniais ir ekonominiais interesais. Dviejų didžiausių pasaulio ekonomikų – ES ir JAV – konkurencija ir bendradarbiavimas Lietuvos ekonomikai atveria ne tik galimybių. ES rinka šiandien yra ne tik viena didžiausių pasaulio rinkų pagal dydį, bet ir didžiausia pagal ekonominę galią ir augimo perspektyvas. 2004 metų gegužės mėnesį Europos Sąjunga (ES) iš penkiolikos šalių grupės (ES-15) tapo dvidešimt penkių šalių grupe (ES-25). Daugelis naujų ES šalių turi panašias vystymosi tendencijas. Pagrindinis naujų ES šalių tikslas yra sumažinti atotrūkį nuo ES- 15 pasiekto lygio pagal svarbiausius makroekonominius rodiklius. Magistro baigiamojo darbo tikslas bei keliami uždaviniai yra ištirti Lietuvos ekonomikos augimo teigiamus ir neigiamus pokyčius, atsiradusias galimybes ir problemas, ištirti Lietuvos ekonomiką Europos Sąjungos kontekste, jos integracinius procesus, išanalizuoti ekonomikos augimo perspektyvas. / Lithuanian economy development trends are inseparable from the trends of world economy development. On the 1st of May in 2004 there was a new page turned in the history of Lithuania – a country became a member of European Union. After long years of occupation and rough transition period, leading to democratic society, witch started on 11th of March in 1990 after the statehood reinstatement, Lithuania joins the society of democratic European countries. Joining the EU was based on political and economical interests. Competition and cooperation of the two biggest economics in the world – EU and USA – gives not only opportunities to Lithuania. Today the European Union market is not only one of the biggest markets in the world according to its size, but also the biggest market according to economical power and growth prospects. In May of 2004 European Union (EU) from the group of fifteen countries (EU-15) became a group of twenty five countries (EU-25). Most of new EU countries have similar development trends. The main purpose of new EU members is to bridge the gap between EU-15 levels according to the main macroeconomic rates. The object and goals of a magistracy work are to examine positive and negative changes of Lithuanian economic growth, opportunities and problems that arise, also to examine Lithuanian economy in the context of European Union, the integration processes, to analyze the prospects of economical growth. In this work these methods are used: analysis and... [to full text]