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The book explores how, to what extent and with what consequences
the international crisis of 2007-2008 and the recession which
followed have affected European SMEs (small and medium enterprises)
in both the well established market economies of the old member
countries and in the post-transformation new member countries, and
what can be done at the institutional and political level to uphold
them.
This book analyses the opportunities and barriers for youth
entrepreneurship amid systemic change in Central and Eastern
Europe. The authors cover different aspects of youth
entrepreneurship and its contribution to the debate on youth
unemployment in transition economies. The book discusses the
wide-spread over-optimism regarding youth entrepreneurship,
self-employment, and its impact on economic innovation and job
creation, resulting from a disregard of critical contextual
features and the characteristics of young entrepreneurs themselves.
The authors give due acknowledgment of the importance of both
factors and so fully understand the impediments to youth
entrepreneurship, especially in a transition context. Furthermore,
they seek to assess the opportunities and constraints of promotion
policies in transition economies. Most importantly, the book
provides the first empirical contribution to youth entrepreneurship
in Central and Eastern Europe by offering a representative number
of case studies. The book will be invaluable reading for scholars
and students of transition and developing countries, particularly
those with an interest in entrepreneurship.
Presents a comprehensive overview of the field, with a focus on the
comparison between economic institutions and systems. Offers a wide
discussion of the various themes or aspects of comparative economic
studies. Enables readers, via a single repository, to upgrade their
knowledge and expertise in a thriving field, which has important
implications for globalization and supranational integration.
The financial and economic crisis in Europe is not over, and the
radically opposing strategies on how to proceed has only increased
the complexity of problems in the region, revealing the
shortcomings of the EU's architecture. The European Union, perhaps
for the first time in its history of more than seventy years, is
being perceived as a threat to the financial and monetary stability
of the world. A Global Perspective on the European Economic Crisis
explores the connection between internal EU actions and
institutions and the external factors that influence the ongoing
response to the European crisis. With a unique collection of
international and interdisciplinary essays, this book considers the
complex macroeconomic and challenging political landscape of
Europe, looking at how and why the European Union is untenable in
its current state. The chapters outline what should be done to make
the common currency area more resilient, and explain why external
events are particularly problematic for the EU, ultimately offering
suggestions for what Europeans should do in order to avoid harmful
internal consequences. This volume confronts the causes of the
crisis' persistence, its economic and political consequences, and
the impact of more recent events and policy decisions. It will be
of interest to researchers and policy-makers keen to understand the
EU relations and the influence of international organizations in
the European economic crisis.
The adoption and management of the common currency has led the
Eurozone to a critical point. This book analyzes in an
interdisciplinary way the fundamental causes of distress, making
sure to relate economic issues to the social and political aspects
of the problem. The book explores the reasons why the Eurozone has
fallen into a policy trap, as well as what Europe did and should do
to exit the crisis, and why this is proving to be so difficult. The
book also considers what role the United States has played, and
could play to help foster a solution for the Eurozone. The main
topics explored are the complex nature of the crisis, the short
circuit between policies and the given institutional architecture,
the controversial role of Germany, and the importance of an active
role of the US. The book brings together a transatlantic group of
scholars in order to offer an interdisciplinary analysis of the
deep causes of the Eurozone distress. The authors recognize that
the Eurozone countries have contrasting situations and interests
and face different problems with complex consequences for the vexed
question of national sovereignty within the EU; and pay attention
to the social and political consequences of the economic and
financial distress and of the perceived strain of the common
currency.
The global financial crisis has provided an important opportunity
to revisit debates about post-socialist transition and the relative
success of different reform paths. Post-communist Central and
Eastern Europe (CEECs) in particular show resilience in the wake of
the international crisis with a diverse range of economic
transformations. Transformation and Crisis in Central and Eastern
Europe offers an in depth analysis of a diverse range of countries,
including Poland, Hungary, Russia, Ukraine, Czech Republic and
Slovakia. This volume assesses each country’s institutional
transformations, geopolitical policies, and local adaptations that
have led them down divergent post-communist paths. Chapters take
the reader systematically through the evolution of former communist
national economic systems, before ending with lessons and
conclusions for the future. Subsequent chapters demonstrate that
economic performance crucially depends on achieving a sustainable
balance between sound institutional design and policies on one
hand, and localization on the other. This new volume from a
prestigious group of academics offers a fascinating and timely
study which will be of interest to all scholars and policy makers
with an interest in European Economics, Russian and East European
Studies, Transition Economies, Political Economy and the post-2008
world more generally.
The adoption and management of the common currency has led the
Eurozone to a critical point. This book analyzes in an
interdisciplinary way the fundamental causes of distress, making
sure to relate economic issues to the social and political aspects
of the problem. The book explores the reasons why the Eurozone has
fallen into a policy trap, as well as what Europe did and should do
to exit the crisis, and why this is proving to be so difficult. The
book also considers what role the United States has played, and
could play to help foster a solution for the Eurozone. The main
topics explored are the complex nature of the crisis, the short
circuit between policies and the given institutional architecture,
the controversial role of Germany, and the importance of an active
role of the US. The book brings together a transatlantic group of
scholars in order to offer an interdisciplinary analysis of the
deep causes of the Eurozone distress. The authors recognize that
the Eurozone countries have contrasting situations and interests
and face different problems with complex consequences for the vexed
question of national sovereignty within the EU; and pay attention
to the social and political consequences of the economic and
financial distress and of the perceived strain of the common
currency.
This book focuses on the nature and role of entrepreneurship in
modern developed and emerging economies and societies, its relation
to governments and universities, and its role in the
often-forgotten informal economy. The aim is to position
entrepreneurship in the post-crisis context and explore how its
relation to universities and governments contributes to explain the
countries' and territories' growth performance and resilience or
vulnerability to the crisis. The accent is particularly on
processes and patterns at local level and in small and medium-sized
enterprises in local economic systems and districts, local systems
of innovation, and the types and configurations of innovation these
give origin to. With globalization, entrepreneurship has become
fundamental for the competitiveness of territories and countries,
for policy management and for development. The local dimension is
fundamental because of agglomeration economies and effects, the
advantages of proximity and the nature of knowledge and
information. Furthermore, territories carry to the centre-stage
tacit knowledge, localized social capital, embeddedness and
interpersonal relations as fundamental components of their
endogenous socio-economic development and competitiveness. When
local systems are connected in a horizontal network, they
contribute to the strength of national and international systems.
To play a constructive role from this perspective, entrepreneurship
must avoid local entrenchment and support the local economy to
upgrade and be competitive. To do this, the entrepreneurs'
interaction and alliance with universities and governments is a
must for those countries and localities wanting to emerge. This
requires that enterprises, universities and governments create
synergies and spill-overs to their mutual advantage.
This book analyses the opportunities and barriers for youth
entrepreneurship amid systemic change in Central and Eastern
Europe. The authors cover different aspects of youth
entrepreneurship and its contribution to the debate on youth
unemployment in transition economies. The book discusses the
wide-spread over-optimism regarding youth entrepreneurship,
self-employment, and its impact on economic innovation and job
creation, resulting from a disregard of critical contextual
features and the characteristics of young entrepreneurs themselves.
The authors give due acknowledgment of the importance of both
factors and so fully understand the impediments to youth
entrepreneurship, especially in a transition context. Furthermore,
they seek to assess the opportunities and constraints of promotion
policies in transition economies. Most importantly, the book
provides the first empirical contribution to youth entrepreneurship
in Central and Eastern Europe by offering a representative number
of case studies. The book will be invaluable reading for scholars
and students of transition and developing countries, particularly
those with an interest in entrepreneurship.
The book explores how, to what extent and with what consequences
the international crisis of 2007-2008 and the recession which
followed have affected European SMEs (small and medium enterprises)
in both the well established market economies of the old member
countries and in the post-transformation new member countries, and
what can be done at the institutional and political level to uphold
them.
The financial and economic crisis in Europe is not over, and the
radically opposing strategies on how to proceed has only increased
the complexity of problems in the region, revealing the
shortcomings of the EU's architecture. The European Union, perhaps
for the first time in its history of more than seventy years, is
being perceived as a threat to the financial and monetary stability
of the world. A Global Perspective on the European Economic Crisis
explores the connection between internal EU actions and
institutions and the external factors that influence the ongoing
response to the European crisis. With a unique collection of
international and interdisciplinary essays, this book considers the
complex macroeconomic and challenging political landscape of
Europe, looking at how and why the European Union is untenable in
its current state. The chapters outline what should be done to make
the common currency area more resilient, and explain why external
events are particularly problematic for the EU, ultimately offering
suggestions for what Europeans should do in order to avoid harmful
internal consequences. This volume confronts the causes of the
crisis' persistence, its economic and political consequences, and
the impact of more recent events and policy decisions. It will be
of interest to researchers and policy-makers keen to understand the
EU relations and the influence of international organizations in
the European economic crisis.
This book focuses on the nature and role of entrepreneurship in
modern developed and emerging economies and societies, its relation
to governments and universities, and its role in the
often-forgotten informal economy. The aim is to position
entrepreneurship in the post-crisis context and explore how its
relation to universities and governments contributes to explain the
countries' and territories' growth performance and resilience or
vulnerability to the crisis. The accent is particularly on
processes and patterns at local level and in small and medium-sized
enterprises in local economic systems and districts, local systems
of innovation, and the types and configurations of innovation these
give origin to. With globalization, entrepreneurship has become
fundamental for the competitiveness of territories and countries,
for policy management and for development. The local dimension is
fundamental because of agglomeration economies and effects, the
advantages of proximity and the nature of knowledge and
information. Furthermore, territories carry to the centre-stage
tacit knowledge, localized social capital, embeddedness and
interpersonal relations as fundamental components of their
endogenous socio-economic development and competitiveness. When
local systems are connected in a horizontal network, they
contribute to the strength of national and international systems.
To play a constructive role from this perspective, entrepreneurship
must avoid local entrenchment and support the local economy to
upgrade and be competitive. To do this, the entrepreneurs'
interaction and alliance with universities and governments is a
must for those countries and localities wanting to emerge. This
requires that enterprises, universities and governments create
synergies and spill-overs to their mutual advantage.
Analyzes the processes of privatization and entrepreneurial
formation by countries and subjects, and points out the different
features they acquire in various post-socialist countries through
an interdisciplinary and historico-comparative approach.
The global financial crisis has provided an important opportunity
to revisit debates about post-socialist transition and the relative
success of different reform paths. Post-communist Central and
Eastern Europe (CEECs) in particular show resilience in the wake of
the international crisis with a diverse range of economic
transformations. Transformation and Crisis in Central and Eastern
Europe offers an in depth analysis of a diverse range of countries,
including Poland, Hungary, Russia, Ukraine, Czech Republic and
Slovakia. This volume assesses each country's institutional
transformations, geopolitical policies, and local adaptations that
have led them down divergent post-communist paths. Chapters take
the reader systematically through the evolution of former communist
national economic systems, before ending with lessons and
conclusions for the future. Subsequent chapters demonstrate that
economic performance crucially depends on achieving a sustainable
balance between sound institutional design and policies on one
hand, and localization on the other. This new volume from a
prestigious group of academics offers a fascinating and timely
study which will be of interest to all scholars and policy makers
with an interest in European Economics, Russian and East European
Studies, Transition Economies, Political Economy and the post-2008
world more generally.
The aftermath of the US subprime mortgage crisis in 2008 saw its
influence spread around the world, including Europe. The European
crisis turned out to be longer, deeper and more resilient than
anticipated. An unexpected consequence was the increasingly
divergent economic and financial situation of two main groups of
countries within the Eurozone, which includes the countries that
adopt the euro as their common currency. The divergence was caused
by a number of factors, fundamentally stemming from the dissimilar
economic and financial situation of its member countries and from
the incomplete institutional architecture and the monetary and
fiscal policies in the Eurozone.One Currency, Two Europes: Towards
a Dual Eurozone seeks to explore these factors which give rise to
the Eurozone's asymmetric composition and the growing difficulties
and ineffectiveness that policies meet. It presents evidence to
show how the presently incomplete institutional architecture of the
Eurozone is the main reason for the extreme detrimental effects of
the international crisis and austerity policies, along with the
asymmetric economic situation and the insufficient mutual trust
demonstrated by the vulnerable as well as resilient countries.Other
than presenting a complete overview and analysis of the events that
unfolded in the Eurozone as a result of the financial crisis that
first emerged in the US, this book also suggests possible solutions
which could help to reunify the Eurozone, and make the common
currency sustainable and beneficial for all member countries. One
Currency, Two Europes will be useful for policymakers who want to
learn from the Eurozone's experience with the financial crisis and
the importance of complete institutional architectures and
inter-country economic convergence. It will also serve as a
reference to students and researchers who would like more in-depth
analysis of the crisis and the Eurozone's fiscal, monetary and
institutional past, present, and future.
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