Volume 6 (2015): Issue 2 (June 2015)

This paper analyses the question of how to perceive the traditional theoretical concept of state sovereignty vis-á-vis European integration. Within the European project we face the paradox of having two authorities claiming autonomy and dominance. It is undisputable that the European Union is behaving like an autonomous public power - the new...

The aim of this paper is to thoroughly evaluate the sensitivity of Czech commercial banks to a run on banks. Our sample includes a significant part of the Czech banking sector in the period 2006-2013. We use three liquidity ratios that we stress via a stress scenario simulating a run on banks accompanied by a 20% withdrawal rate of deposits.We...

The importance of delegated legislation is growing in both the quantitative and qualitative sense. Under the American system, the so-called division of rulemaking authority between the legislative and executive branch was resolved at a very early juncture and in a highly pragmatic manner by applying the fundamental principles of the legislative...

This article deals with the convergence of the Kazakh financial system with international standards in light of the new, enhanced agreement with the European Union on partnership and cooperation (January 19, 2015). Based on this research, the approaches used by the Kazakh financial system to converge with the European Union (EU) and the mechanism...