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Books > Business & Economics > Economics > Political economy
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Competitiveness in the European Economy (Paperback)
Loot Price: R1,291
Discovery Miles 12 910
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Competitiveness in the European Economy (Paperback)
Series: Routledge Studies in the European Economy
Expected to ship within 12 - 17 working days
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This book deals with the relationship between the competitiveness
of countries in Europe and the analysis of macroeconomic
imbalances. It focuses mainly on a European analysis, along with
special studies of the German economy, which is rarely considered
to be a cause for the current crisis. The book also compares
Germany with Italy, providing a comparative perspective on
structural reforms. The first part of this book analyses
macroeconomic imbalances based on a new framework from the analysis
of the flow of founds rather than balance of payments, and presents
an alternative measure of unit labour cost comparisons to
investigate the relationship between imbalances and
competitiveness. The second part is dedicated to the analysis of
the trade performance of Germany and Italy and the sustainability
of the German model in the EMU. The third part describes the reform
policies implemented by Germany and their effect on imbalances;
this includes wage moderation, the labour market reforms and weak
labour demand. The final part explores the regional inequalities
within Germany and Italy, providing useful lessons regarding fiscal
federalism and regional banking developments. In conclusion, a big
part of the problems within the Euro Area are generated by the use
of a wrong framework of analysis, where the EMU is considered as a
fixed exchange rate regime and not a single country. This book
provides an alternative view which holds at the core the
relationship between sectors. It is stressed throughout the book
that the German behaviour has contributed to the rise of imbalances
between countries due to its growth model, not suitable for a big
developed country in a currency union. This book also finds that
stressing banking integration within countries helps to reduce
regional inequalities, which has important implications for the
management of Europe's future banking union and macroeconomic
imbalances.
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