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rezultatul si totodată să asigure concentrarea intereselor agenţilor economici, ale partenerilor sociali atât sub aspectul recompensării participării la munca cât şi al realizării obiectivelor generale ale organizaţiei.             Dacă la nivel macroeconomic, politica salarială este concepută ca o componentă a strategiei economice generale, alături de politica ocupării forţei de muncă, de politica fiscală, monetară, bugetară şi de credit, la nivel microeconomic politica salarială constituie parte intrinsecă

bénéfique. 18 La DG du m arché intérieur de la Commission européenne a procédé à des simulations et analyses avec le concours de la firme de consultants indépendants PriceWaterhouseCoopers Risk Management. Le rapport Study on the financial and macroeconomic consequences of the draft proposed new capital requirements for banks and investment firms in the EU, Markt/2003/02/F, du 8 avril 2004, est accessible à l’adresse : www.europa.eu.int/comm/internal_market/regcapital/docs/studies/2004-07_ifqis_en

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4.9 % due to lower demand dynamics. See Appendix 5. 5.5. EXPORT STATISTICS The Scale of current Brazil exports per country is an indication of how easy or how hard it is to export to that country. Brazil economy On the whole, Brazil’s macroeconomic policy has so far been sound, but many structural deficiencies, such as a high tax burden, fiscal inflexibility, a rigid labour market and overregulation, remain untouched. Shortfalls in Brazil’s overall political and party system are the main

Nord et étudié entre 1979 et 1999. 420 Stock et Watson (2003) ont mentionné cette méthodologie. Elle consiste à étudier des données de panel sur deux périodes (comparaison avant et après). Page 275. 421 Garcia, V. F. et Liu, L. (1999). Macroeconomic determinants of stock market development. Journal of Applied Economics, 2(1), 29-59. 422 Ben Naceur, S., Ghazouani, S. et Omran, M. (2007). The determinants of stock market development in the Middle-Eastern and North African region. Managerial