Bericht

A new strategy for the European periphery

The southern European periphery suffered a severe setback in its catching-up process versus Western Europe after the financial crisis with GDP dropping by 10% between 2008 and 2012 and unemployment increasing to 20% for Greece, Portugal and Spain. We analyze first the reason for this setback, and then the policy reaction of the national governments and the European partners. Policy reactions mainly focused on restoring price competitiveness. It has important blind spots as far as industrial restructuring, upgrading tourism, making use of globalization and alternative energies, supporting business starts, connecting education, as well as innovation and firm creation are concerned. There is a lack of national ownership of the reforms on the one hand, and a neglect of the European community and the surplus countries on the other hand, that they could support the southern periphery by measures increasing welfare in the community as well as in the surplus countries. Surplus countries profit heavily by the bifurcation of interest rates for government bonds and by capital flows.

Sprache
Englisch

Erschienen in
Series: WWWforEurope Policy Paper ; No. 1

Klassifikation
Wirtschaft
Industrial Policy; Sectoral Planning Methods
Industrial Policy
Comparative Studies of Particular Economies
Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
Thema
southern Europe
periphery
economic reforms
globalization
troika
industrial policy

Ereignis
Geistige Schöpfung
(wer)
Aiginger, Karl
Ereignis
Veröffentlichung
(wer)
WWWforEurope
(wo)
Vienna
(wann)
2013

Handle
Letzte Aktualisierung
20.09.2024, 08:22 MESZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Bericht

Beteiligte

  • Aiginger, Karl
  • WWWforEurope

Entstanden

  • 2013

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