Central European Business Review 2015, 4(1):14-22

The World Economy in the Times of Financial Crisis and its Impact on European Energy Policy

Peter Baláž1, Juraj Bayer2
1 Prof. Ing. Peter Baláž, PhD., Department for International Business, Faculty of Commerce, University of Economics, Bratislava, Slovakia, balaz@euba.sk
2 Ing. Juraj Bayer, Department for International Business, Faculty of Commerce, University of Economics, Bratislava, Slovakia, bayer.juraj@gmail.com

Since 2007, globalization of the world economy has led to the expansion of the financial crisis. It affects the long-term international negative positions of EU members. They reacted to the new situation by carrying out structural reforms and by support of new adaptation programs. An important element of this process was the preparing of the convergence of the national energy policies in the framework of the Europe 20-20-20 program, which should remain one of the determining elements of their success in support of the international competitiveness of the EU.

Keywords: comparative advantage; competitiveness; economic policy; energy security of EU; European Commission; globalization of the world economy
JEL classification: B30, E62, E64

Received: November 19, 2014; Revised: March 2, 2015; Published: March 31, 2015  Show citation

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Baláž, P., & Bayer, J. (2015). The World Economy in the Times of Financial Crisis and its Impact on European Energy Policy. Central European Business Review, 4(1), 14-22
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