There is No such Thing as a Free Open Sky
Financial Markets and the Struggle over E uropean Competences in International Air Transport
Datos Bibliográficos
| ID | 7311481 |
|---|---|
| Autores | Christian Rauh (0000-0001-9357-9506, WZB Berlin Social Science Center), Gerald Schneider (0000-0002-0091-6217, University of Konstanz) |
| Año | 2013 |
| Volumen | 51 |
| Número | 6 |
| Páginas | 1124-1140 |
| Fecha de publicación | 2013-07-25 |
| Peer Reviewed | Sí |
| Open Access | Sí |
| Tipo | ARTICLE |
| Revista | JCMS Journal of Common Market Studies (JOURNAL) |
| Identificadores de la revista | ISSN: 0021-9886 • E-ISSN: 1468-5965 |
| Editorial | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/jcms.12057 |
| OpenAlex | W2099397447 |
| Idioma | EN |
| Citas recibidas | 3 |
| Referencias citadas | 26 |
Aviation is a prime example of a policy area where the clash over supranational regulatory responsibilities had pronounced economic repercussions. In this article, we examine the economic effects of the E uropean C ommission's struggle to obtain competences in international air transport. Stock market reactions to key events in the political conflict between 1995 and 2004 unravel whether investor beliefs about the distribution of power in the EU follow the basic conjectures of neofunctionalism, intergovernmentalism or institutionalism. The event studies show that particularly judicial proceedings and the involvement of the ECJ send credible integration signals to financial markets. This supports the hypothesis that investors consider the subtleties of the EU 's decision‐making apparatus carefully and only react to developments that definitively alter the political regime and thus also the market situation. These findings are in line with an institutionalist interpretation of a reform that has radically changed the international aviation regime
Aviation · Economics · Financial economics · Financial market · Historical institutionalism · Institutionalism · Interpretation (philosophy · Law and economics · Political economy · Political science · Politics · Stock market · EU Law and Policy Analysis · European Union Policy and Governance · Finance · International Law and Aviation · Law
The Powers of the Union
The Adjustment of Stock Prices to New Information
An Efficient Method of Estimating Seemingly Unrelated Regressions and Tests for Aggregation Bias
The relation between the European Commission and the EU member states in the transatlantic Open Skies negotiations
Partisan politics and stock market performance
The asymmetry of European integration, or why the EU cannot be a 'social market economy
The road to external representation
Civil Aviation and European Integration
Preferences and Power in the European Community
The Institutional Foundations of Intergovernmentalism and Supranationalism in the European Union
Eliciting Substance from ‘Hot Air
Delegation, agency, and agenda setting in the European Community
The liberalization and reregulation of air transport
War and the World Economy
Only an Agenda Setter
| Obras citantes distintas | 3 |
|---|---|
| Citas por año | 0,25 |
| Intervalo de citas | 2014 - 2024 (11) |
| Velocidad de citación | recent |
| Altamente citado | No |
| Tipos de cita | Neutras: 3 |