WHAT IS NEW IN THE EU COHESION POLICY?

Based on the review of regulations and press releases of EU institutions, the content of changes in the cohesion policy in 2021–2027 was revealed in comparison with the period 2014– 2020. The conclusion is made about the preservation of a significant role of the cohesion policy in the EU’s activities and high volume of its allocations from the EU Budget. The author sees an element of novelty in the synthesis of well-known methods and principles of supranational regulation of the socio-economic development of the EU territories – the budget method, the principle of financial conditionality and the open method of coordination. Particular attention is paid to the decision to reorient a third of the allocations of European regional policy funds for programs of transition to a circular and climate-neutral economy in 2021–2027. The explanation of such strong link between the goals of regional policy and the ecological and climatic goals of the EU is proposed. Namely, the success of the «Europe 2020» Strategy only in terms of climate benchmarks, according to the author, gives to the official Brussels a reason to see the potential to increase the effectiveness of regional policy.

ANALYSIS AND COMPREHENSIVE EVALUATION OF FINANCIAL INSTITUTIONS IN TERMS OF ECONOMIC MODERNIZATION

Active transformation processes of globalizing world finance, new goals and objectives of moder-nization of the national financial system determine the need to form an effective financial system in Kazakhstan that can withstand external challenges and ensure the stable development of the country and its internal market in the context of globalization. The modern financial system is a complex set of interrelated and interacting institutions, financial instruments, mechanisms and procedures aimed at ensuring the financial activities of economic entities and other entities (in particular, public law, etc.) that create conditions for ensuring reproduction processes. In practice, the process of globalization associated with global financial and economic integration is becoming more active with the strengthening of supranational regulation of the world economic space. The study of problems of financial and credit aspects of economic modernization in the conditions of globali-zation as a scientific direction is under development and scientific discuss, this is due to the fact that it is an unfol-ding process, but not yet a fait accompli, and the problems that confronted the state in the age of globalism, extre-mely important and require a constant updating of strategy of development with a predominance of the innovative aspect as the most effective in new economic conditions. The purpose of the study. The aim of the study is to clearly identify the problems of financial and credit aspects of economic modernization in the context of globalization and ways to solve them. Methods of analysis of the scientific and information base, synthesis of the obtained data into theoretical conclusions and practical recommendations, methods of economic analysis were used as tools. The scientific novelty of the research consists in the development of provisions that form the theoretical and methodological basis for determining the financial and credit aspects of economic modernization in the context of globalization.

Problems and Prospects of the Single Financial Market and the Common Currency of the EAEU

The EAEU Treaty assumes that by 2025 the community countries will complete the construction of a single financial market and will be able to move to supranational regulation. This will increase the overall competitiveness and attractiveness of small markets, optimize processes and cooperation. The article examines the existing obstacles and incentives for the formation of a single financial market, substantiates the thesis about the limits of minimizing transaction costs and the possibility of negative effects of the de-dollarization policy in the EAEU space for mutual trade in the existing economic conditions. From the position of the theory of optimal currency areas, the importance of the transition to a single currency for the development of the economies of the EAEU member states is justified.

Online Platforms as a Modern Marketing Tool (Through the Example of the European Union)

Aim. The presented study aims to assess the impact of Internet platforms on the efficiency of commercial and economic activities of agents, through the example of the European Union (hereinafter — the EU). Tasks. The authors consider the characteristics of the European Union’s marketplaces, assess the impact of social networks on consumer shopping habits, examine e-commerce statistics in the European Union and the initiatives taken by the EU to improve e-commerce. Methods. This study uses general methods of cognition to identify the specific features of product promotion in the online space, analyze statistical indicators, and determine the relationship between the use of digital information processing channels and the demand for goods. Results. Examination of marketplace platforms shows that they are not a perfect channel for promoting products online. However, their significance has been growing rapidly in recent years. Platform solutions such as mobile networks and social networks significantly increase online sales. However, online channels have both advantages and disadvantages, which the European Union solves by introducing supranational regulation of online sales agents. Conclusions. Further improvement of e-commerce processes requires supranational regulation and consumer engagement to increase their awareness of the opportunities provided by e-commerce.

Regulatory Cooperation in Securities Market Regulation: Perspectives from Australia

The global financial crisis highlighted the interconnectedness of international financial markets and the risk of contagion it posed. The crisis also emphasized the importance of supranational regulation and regulatory cooperation to address that risk. Yet, although capital flows are global, securities regulation is not. As a 2019 report by IOSCO notes, the regulatory challenges revealed during the global financial crisis have by no means dissipated over the last decade. Lack of international standards, or differences in the way jurisdictions implement such standards, can often result in regulatory-driven market fragmentation. This article considers a range of cooperative techniques designed to achieve international regulatory harmonization and effective financial market supervision. It includes discussion of a high profile cross-border supervisory experiment, the 2008 US-Australian Mutual Recognition Agreement, which was the first agreement of its kind for the SEC. The article also examines some key regulatory developments in Australia and Asia since the time of the US-Australian Mutual Recognition Agreement.

Public Biases Against Lobbying and Its Regulation as a Way to Overcome Them

This article focuses on a wide range of biases against lobbying, which emerge as myths, misconceptions, and stereotypes. These biases skew the image of reality around lobbying, which can be addressed by the introduction of its regulation. Such practice exists in over 20 countries, most of them being members of the EU. Regulation of lobbying in these and other countries is practiced both at the national and the subnational levels. EU also gives an example of supranational regulation of lobbying. The proliferation of lobbying regulation across so many countries has encouraged international organizations such as the Commonwealth of Interdependent States, OECD, and the Council of Europe to develop recommendations on lobbying regulation for their country members.

The tenuous link between CSR performance and support for regulation: Business associations and Nordic regulatory preferences regarding the corporate transparency law 2014/95/EU

Do countries with high corporate social responsibility (CSR) performance support more stringent supranational regulation? Following this logic, existing scholarship claims that Nordic countries push for tougher regulations to sharpen their competitive advantage. On the basis of an examination of the negotiations over the EU Directive 2014/95/EU, a corporate transparency law that requires firms to report on their social, environmental, and human rights impacts, this paper argues that strong CSR performance does not necessarily entail strong support for regulation. Nordic companies perform well when it comes to sustainability, but except for Denmark, Nordic governments’ support for the Directive was lukewarm. To explain why, I examine the dynamics between CSR leaders, business associations, and party politics. I find that business associations are key for explaining this outcome. While some Nordic CSR leaders provided support, business associations, in which SMEs with lower CSR performance comprise the bulk of the members, were forceful opponents of regulation, unless domestic regulations are in place, in which case these associations support supranational regulations to level the playing field. I also stress the importance of partisan politics and extend the analysis to mandatory human rights due diligence. In sum, Nordic countries are much more heterogeneous than what the literature often suggests.

4. Regulating the information society

This chapter examines whether the actions of individuals in the digital environment could be regulated. It first considers John Perry Barlow’s 1996 publication of his Declaration of Independence for Cyberspace, in which he asserts that cyberspace was a separate sovereign space where real-world laws and real-world governments were of little or no effect. Barlow’s forceful challenge to lawmakers and law enforcement bodies gave rise to a school of thought known as cyberlibertarianism. The chapter compares cyberlibertarianism with another school of thought called cyberpaternalism, which rejected the notion that cyberspace was immune from regulatory intervention by real-world regulators. It also explains Lawrence Lessig’s modalities of internet regulation, network communitarianism, private regulators of cyberspace, and states’ supranational regulation of cyberspace. The chapter goes on to examine contemporary theories of internet governance and regulation including libertarian paternalism, platform and intermediary regulation, and algorithmic regulation.