Economic Convergence in the Euro Area: Coming Together or Drifting Apart? PDF Download

Author: Mr.Jeffrey R. Franks
Publisher: International Monetary Fund
ISBN: 1484338499
Category : Business & Economics
Languages : en
Pages : 47

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Book Description
We examine economic convergence among euro area countries on multiple dimensions. While there was nominal convergence of inflation and interest rates, real convergence of per capita income levels has not occurred among the original euro area members since the advent of the common currency. Income convergence stagnated in the early years of the common currency and has reversed in the wake of the global economic crisis. New euro area members, in contrast, have seen real income convergence. Business cycles became more synchronized, but the amplitude of those cycles diverged. Financial cycles showed a similar pattern: sychronizing more over time, but with divergent amplitudes. Income convergence requires reforms boosting productivity growth in lagging countries, while cyclical and financial convergence can be enhanced by measures to improve national and euro area fiscal policies, together with steps to deepen the single market.

Author: Ms.Ruo Chen
Publisher: International Monetary Fund
ISBN: 1475512120
Category : Business & Economics
Languages : en
Pages : 76

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Book Description
The paper examines the extent to which current account imbalances of euro area countries are related to intra-euro area factors and to external trade shocks. We argue that the traditional explanations for the rising imbalances are correct, but are incomplete. We uncover a large impact of declines in export competitiveness and asymmetric trade developments vis-à-vis the rest of the world –in particular vis-à-vis China, Central and Eastern Europe, and oil exporters- on the external balance of euro area debtor countries. While current account imbalances of euro area deficit countries vis-à-vis the rest of the world increased, they were financed mostly by intra-euro area capital inflows (in particular by the purchase of government and financial institutions’ securities, and cross-border interbank lending) which permitted external imbalances to grow over time.

Author: Eriikka Oinonen
Publisher: Palgrave MacMillan
ISBN:
Category : Family & Relationships
Languages : en
Pages : 240

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Book Description
Families in Converging Europe examines common familial trends and differences between Northern and Southern and Eastern and Western Europe from 1960s to early 2000s and discusses the most common theoretical explanations for convergence and divergence. The interest lies in macro-level social changes and in the interrelationship between the family and other social institutions. In-depth comparison of Finnish and Spanish cases as representatives of North and South Europe provides an example of how macro-level changes affect both family ideology and practices.

Author: Bela Balassa
Publisher: Routledge
ISBN: 1136646310
Category : Business & Economics
Languages : en
Pages : 319

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Book Description
First published in 1962, The Theory of Economic Integration provides an excellent exposition of a complex and far-reaching topic. Professor Balassa has been remarkably successful in covering so much ground with such care and balance, in a treatment which is neither in any way abstruse nor unnecessarily technical. His book will interest economists in Europe by reason of its subject and treatment, but it is also a valuable and reliable textbook for students tackling integration as part of a course of International Economics and for those studying Public Finance. He distinguishes between the various forms of integration (free trade area, customs union, common market, economics union, and total integration). In addition, he applies the theoretical principles to current projects such as the European Common Market and Free Trade Area, and to Latin American integration projects. In offering this theoretical study, the author builds on the conclusions of other writers, but goes beyond this in providing a unifying framework for previous contributions and in exploring questions that in the past received little attention – in particular, the relationship between economic integration and growth (especially the interrelationship between market size and growth, and the implications of various factors for economic growth in an integrated area).

Author: Leonid Grinin
Publisher: Springer
ISBN: 331917780X
Category : Business & Economics
Languages : en
Pages : 261

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Book Description
This new monograph provides a stimulating new take on hotly contested topics in world modernization and the globalizing economy. It begins by situating what is called the Great Divergence--the social/technological revolution that led European nations to outpace the early dominance of Asia--in historical context over centuries. This is contrasted with an equally powerful Great Convergence, the recent economic and technological expansion taking place in Third World nations and characterized by narrowing inequity among nations. They are seen here as two phases of an inevitable global process, centuries in the making, with the potential for both positive and negative results. This sophisticated presentation examines: Why the developing world is growing more rapidly than the developed world. How this development began occurring under the Western world's radar. How former colonies of major powers grew to drive the world's economy. Why so many Western economists have been slow to recognize the Great Convergence. The increasing risk of geopolitical instability. Why the world is likely to find itself without an absolute leader after the end of the American hegemony A work of rare scope, Great Divergence and Great Convergence gives sociologists, global economists, demographers, and global historians a deeper understanding of the broader movement of social and economic history, combined with a long view of history as it is currently being made; it also offers some thrilling forecasts for global development in the forthcoming decades.

Author: M. V. Antokolʹskai︠a︡
Publisher:
ISBN: 9789050956901
Category : Adoption
Languages : en
Pages : 0

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Book Description
This volume contains the written versions of presentations given at the international conference "Convergence and Divergence of Family Law in Europe", organised in Amsterdam in September 2006. The main objective of this conference was to instigate an in-depth discussion regarding various facets of the convergence/divergence discord. Another objective was to give scholars the opportunity to present their respective views in the ongoing debate surrounding convergence, divergence and deliberate harmonisation activities in the field of family law. In the first part of this book the historical and theoretical issues of the convergence/divergence debate and the controversy surrounding the "cultural constraints" argument are discussed. The second part gives a picture of the contemporary role of convergence/divergence tendencies on a regional level in various parts of Europe. It starts with an overview of the recent trends in the renowned "Nordic co-operation" in the approximation of family laws, which is generally considered to be the most successful example of regional harmonisation of family laws in Europe. The next article deals with convergence/divergence tendencies in the development of the family law of the Spanish autonomous communities. The following two contributions offer a summary of the convergence and divergence trends in Eastern Europe against the background of such sweeping events as the fall of the Soviet Union, the disintegration of the Eastern block and the accession of a majority of the Central European countries to the EU. The third part of this volume deals with the convergence and divergence tendencies in the following particular fields of family law: marriage, divorce, same-sex relationships, establishment of parenthood and matrimonial property law.

Author: Andy Green
Publisher: UCL Institute of Education Press (University College London Institute of Education Press)
ISBN:
Category : Education
Languages : en
Pages : 318

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Book Description
This book offers a unique picture of education and training in the EU between the early 1980s and the late 1990s. It synthesizes a wealth of research, policy documents and original data from the fifteen Member States and from the European Commission. The advent of the Single Market and of the euro have focused attention on economic integration in Europe; while discussions of globalization also emphasize common trends and economic convergence. Convergence and Divergence in European Education and Training Systems demonstrates that, while European education and training systems are responding to powerful general trends, they remain highly distinctive, with no obvious movement towards a single common pattern.

Author: Kenneth Dyson
Publisher: OUP Oxford
ISBN: 0191570427
Category : Political Science
Languages : en
Pages : 480

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Book Description
Both studies of political power and Europeanization studies have tended to neglect central banks. As the age of the euro reaches its 10th anniversary, it is timely to reflect on what it means for central banks, which have been at the forefront of the establishment of Economic and Monetary Union in the European Union. Central banks have been caught up in a major historic political project. What does it mean for them? What does the age of the euro tell us about the power of central banks, their Europeanization and whether they are coming to resemble each other more closely? This book brings together a range of recognized academic specialists to examine the main political aspects of this question. How, and in what ways, has the euro Europeanized central banks (members and non-members of the Euro Area)? What have been its effects on the power of central banks and their use of power? Has the euro generated convergence or divergence in central banking? The book offers the first, in-depth and systematic political analysis of central banks in the first decade of the euro. It places the euro in its global and European contexts, including the US Fed and the Australasian central banks, patterns of differentiated integration in European central banking, and the European Central Bank. It offers a set of case studies of its effects on a representative sample of EU central banks (euro 'insiders' and 'outsiders') and looks at four main thematic areas (monetary policy, financial market supervision, accountability and transparency, and research). The book contributes to Europeanization studies, comparative political economy, and studies of Economic and Monetary Union. It will be of major interest to students of the European Union and European integration, comparative European politics, and area and 'country' studies. More generally, it will interest all those interested in central banking and their pivotal and problematic position between politics and markets.

Author: Stilianos Alexiadis
Publisher: Springer Science & Business Media
ISBN: 3642316263
Category : Business & Economics
Languages : en
Pages : 254

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Book Description
Do dynamic externalities, in the form of technology creation, adoption and spatial agglomeration shape the pattern of regional growth in Europe? This study provides an alternative view on regional convergence. A model is developed which attributes club-convergence to existing differences with respect to the degree of technology adoption. In the first instance, empirical results suggest that the NUTS-2 regions of the EU-27 converge at a very slow rate. Further tests, however, indicate that convergence is restricted to a specific subset of regions. Such conclusions are tested further, using an alternative model of club-convergence, which incorporates the impact of spatial interaction, agglomeration externalities and technology. This shows that the convergence-club in Europe follows a certain geographical pattern and all members share similar characteristics regarding technology creation and adoption, and agglomeration externalities. ​

Author: Adelaide Duarte
Publisher: Emerald Group Publishing
ISBN: 1787144968
Category : Business & Economics
Languages : en
Pages : 419

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Book Description
In this new work, Pascariu and Duarte, along with an international group of acclaimed scholars, delve into key challenges currently facing the European Union. They Analyze the effect of peripherality across the EU regions which will be of great interest to those countries and regions facing a process of integration