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Browsing by study line "Politics and the International Economy"

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  • Hou, Yaxing (2022)
    The 2008 financial crisis was a disaster for people around the world, which caused the downturn of the world economy and ruined the lives of countless people. However, the Nordic countries stood out with the resilience they showed during the crisis. They were capable of controlling the unemployment rate even during the crisis and recovering from the recession quickly. The reasons behind this are worth digging. Combining literature analysis and interviewing experienced scholars in the field of the welfare state, this thesis aims at providing a unique perspective, analysing the welfare scholars’ views on the performance of the Nordic welfare state in the context of the 2008 financial crisis, to explore the possible sources of the resilience power of the Nordic welfare state and the challenges for the Nordic welfare state during and after the crisis. As a result, several essential elements of the Nordic welfare state are identified. Among them, a high level of social security, strong labour unions and heavy investment in human capital and education are found to be essential sources of the Nordic welfare state’s resilience power. Funding issues stood as a significant challenge during the crisis. Other than that, the privatisation of public service, the ageing population, and migration also lay a great burden on the welfare state in the post-crisis era. Finally, the results also suggest that the 2008 financial crisis also have an impact on the status of the welfare state in Nordic branding.
  • Chen, Cichao (2022)
    As a new pattern of international trade, Cross-border e-commerce (CBEC) has quickly captured the market with its convenience. Nevertheless, compared to total international trade, the volume of CBEC is relatively small. The non-efficiency of trade hinders the development of CBEC. As a major global economic power, China has an important position in the global CBEC and is committed to improving trade facilitation to better develop CBEC. The thesis aims to study whether and how trade facilitation in 16 Central and Eastern European Countries (CEE countries) affects China’s CBEC transaction scale with them. This thesis assesses trade facilitation in four dimensions: institutions, infrastructure, market, and technologies. Through principal component analysis (PCA), this paper calculates the trade facilitation index for China’s 16 CEE trading partners from 2011 to 2019. Based on some estimation techniques, this thesis regresses China’s CBEC trade scale on trade facilitation index, GDP per capita, weighted geographical distance, and total population and compares the different performance of the two income groups and (non-)EU membership. It is found that there is a positive correlation between the trade facilitation in 16 CEE countries and China’s CBEC transaction scale, and there is also a relationship between GDP per capita, weighted geographical distance, income group, EU membership, and CBEC transaction scale. The impact of infrastructure, market, and technologies in trade facilitation on the CBEC transaction scale is significantly positive. Finally, it provides some possible implications to promote CBEC.
  • Lai, Weimin (2022)
    Belt and Road initiative (BRI) has provided by the Chinese government's global infrastructure development strategy in 2013. The New Eurasian Land Bridge (NELB) is the core of the land route of BRI across Eurasia. The main purpose is to build the modern railway infrastructure lines in the Eurasian region. The thesis hypothesis NELB effectively strengthens the capacity of Russia and China for railway transport trade. It influences the further participation of China and Russia in Global Value Chains (GVCs). The study has used the Eora MRIO database on GVCs' output in China and Russia, which takes the data from 2000 to 2018 as a sample. It has combined with the World Integrated Trade Solution (WIST), World Bank and OECD database on the country's trade volume of the export sector and NELB-related indices. It has applied the combination of panel data and time series. The thesis has found that NELB contributed differently to China and Russia. In general terms of GVCs participation, NELB has absorbed Foreign direct investment (FDI) and Information and Communications Technology (ICT) input to China and Russia trade. NELB has benefited China by strengthening its soft infrastructure in financial investment. Moreover, it has benefited Russia's hard infrastructure in the railway transit stations or port establishment. In terms of bilateral trade on GVCs participation. It has conducted China's export and transport of large-scale machinery and equipment to Russia. It also has enhanced Russia's export and transport of energy materials or raw materials to China. Furthermore, NELB has shown the influence on the China and Russia's main export sectors' upgrading and governance in GVCs.
  • Zhang, Xueqi (2022)
    From the perspective of economic growth, this research observes the relationship between the trade between Eastern Europe and Germany and the economic growth of Germany since 1998. Since the drastic changes in Eastern Europe, the economic and trade cooperation and industrial integration between Germany and Eastern Europe have become increasingly close. After the European debt crisis, Germany's manufacturing advantages were combined with the higher level of productivity and consumer market in Eastern Europe, and a differential phenomenon appeared in the trade between different Eastern European countries and Germany. This research attempts to find out the factors that have an impact on German economic growth from two perspectives: the trade between Germany and Eastern European countries and the trade between Germany and the EU member states in Eastern European countries. By analyzing the data over the years by using VAR model, this research finds that Germany's economic growth has increased imports from Eastern European countries. If only focus on the EU member states in Eastern European countries, the EU has indeed promoted Germany's economic growth to a certain extent. Through data analysis, it can be seen that exports to Eastern Europe will not promote Germany's economic growth, while imports and exports to eastern and central European member states can promote Germany's economic growth. Therefore, European economic integration is a better choice. Considering the promotion mechanism of German economic growth, it can be found that Germany is more dependent on machinery manufacturing and agricultural product manufacturing. In order to better promote the trade, Germany has made a lot of efforts, such as improving product quality, increasing scientific research funds, paying attention to talent training, improving innovation mechanism, etc. What is more, Germany has continuously adjusted its economic policies to suit its foreign trade.
  • Xie, Xuan (2022)
    The quantitative easing monetary policies released by the Big Four central banks since 2008 were expected to save these major developed economies from the financial recession, but there is a possibility that these policy changes have a spillover effect on other parts of the world. This thesis constructs a financial systemic risk index from stock market, money market, bond market and foreign exchange market for two groups of economies including 10 developed economies and 10 emerging economies and explained the hypotheses mathematically to prove that an increase in domestic interest rate will cause foreign systemic risks to decrease, while an increase in domestic money supply will cause foreign systemic risks to rise. Then, this thesis builds a time-series dynamic panel data model to evaluate the difference between the spillovers on the two groups, the difference among the Big Four spillovers and the difference between the spillovers of price-based and quantity-based monetary policies, thus answering the research questions and accepting the hypotheses which is consistent with the mathematical explanations. Moreover, the thesis provides possible suggestions for financial supervision and multilateral cooperation in the final part.