Cohesive Growth in Europe: A Tale of Two Peripheries
Abstract Over the last two decades, income disparities between EU member states tended to decline, particularly before the financial crisis. While Central and Eastern Europe caught up with the EU average, Southern Europe fell behind after 2009. Catch-up growth in both peripheries relied on nominal c...
Saved in:
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Springer
2021-04-01
|
| Series: | Intereconomics |
| Online Access: | https://doi.org/10.1007/s10272-021-0964-y |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | Abstract Over the last two decades, income disparities between EU member states tended to decline, particularly before the financial crisis. While Central and Eastern Europe caught up with the EU average, Southern Europe fell behind after 2009. Catch-up growth in both peripheries relied on nominal convergence (real appreciation) and foreign capital. Further growth can and should be fostered by an economic policy that does not neglect domestic demand, stabilises capital markets and invests in research, education, health and intangibles. |
|---|---|
| ISSN: | 0020-5346 1613-964X |