Structural Change in Times of Increasing Openness
By: Gräbner, Claudius.
Contributor(s): Heimberger, Philipp | Kapeller, Jakob | Schütz, Bernhard.
Material type:
BookSeries: wiiw Working Papers: 143Publisher: Wien : Wiener Institut für Internationale Wirtschaftsvergleiche (wiiw), 2018Description: 34 S., 1 Table and 9 Figures, 30cm.Subject(s): Europe | path dependency | European integration | economic openness | competitivenessCountries covered: Austria | Belgium | Bulgaria | Cyprus | Czechia | Denmark | Estonia | Finland | France | Germany | Greece | Hungary | Ireland | Italy | Latvia | Lithuania | Luxembourg | Malta | Netherlands | Poland | Portugal | Romania | Slovakia | Slovenia | Spain | Swedenwiiw Research Areas: Macroeconomic Analysis and Policy | International Trade, Competitiveness and FDIClassification: B5 | F6 | F45 Online resources: Click here to access online Summary: Assessing Path Dependency in European Economic Integration
This paper analyses the dynamics of structural polarisation and macroeconomic convergence vs. divergence in the context of European integration, where the latter is understood primarily as an increase in economic and financial openness. In the process of estimating the dynamic effects of openness shocks on 26 EU countries, we develop a taxonomy of European economies that consists of core, periphery, financialised and Eastern European catch-up economies. As these four country groups have responded in a distinct way to the openness shocks imposed by European integration, we argue that the latter should be seen as an evolutionary process that has given rise to different path-dependent developmental trajectories. These trajectories relate to the sectoral development of European economies and the evolution of their technological capabilities. We propose a set of interrelated policy measures to counteract structural polarisation and to promote macroeconomic convergence in Europe.
| Item type | Current library | Call number | Status | Date due | Barcode | |
|---|---|---|---|---|---|---|
| Paper | WIIW Library | 5.700/143 (Browse shelf(Opens below)) | Available | 1000010004452 |
Assessing Path Dependency in European Economic Integration
This paper analyses the dynamics of structural polarisation and macroeconomic convergence vs. divergence in the context of European integration, where the latter is understood primarily as an increase in economic and financial openness. In the process of estimating the dynamic effects of openness shocks on 26 EU countries, we develop a taxonomy of European economies that consists of core, periphery, financialised and Eastern European catch-up economies. As these four country groups have responded in a distinct way to the openness shocks imposed by European integration, we argue that the latter should be seen as an evolutionary process that has given rise to different path-dependent developmental trajectories. These trajectories relate to the sectoral development of European economies and the evolution of their technological capabilities. We propose a set of interrelated policy measures to counteract structural polarisation and to promote macroeconomic convergence in Europe.
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