By Anastasios Karasavvoglou, Dimitrios Kyrkilis, Georgios Makris, Persefoni Polychronidou
This e-book analyzes the rules and technique of overcoming the present problem within the broader zone of Southeast Europe. The contributions make proposals from either theoretical and empirical issues of view and speak about the idea that, determinants and rules of competitiveness in those international locations. The monetary trouble turned a chronic economic difficulty, a financial institution self assurance hindrance, and fiscal recession, and the ebook discusses the ecu and nationwide guidelines applied to solve it. It additionally investigates the inner conflicts generated by way of institutional preparations and coverage measures, either in the kingdom states and the eurozone. fiscal competitiveness is a key subject for policymakers, as they must safe financial progress and enhance their populations’ criteria of residing. This quantity sheds mild on what constitutes fiscal competitiveness, in addition to at the rules and financial and institutional constructions that increase competitiveness.
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Additional info for Economic Crisis, Development and Competitiveness in Southeastern Europe: Theoretical Foundations and Policy Issues
Duckworth, London, pp 99–118 Kaldor N (1978b) Causes of the slow rate of economic growth in the United Kingdom. In: Kaldor N (ed) Further essays on economic theory. Holmes & Meyer, New York, NY, pp 100–138 Kenen PB (1969) The theory of optimum currency areas: an eclectic view. In: Mundell RA, Swoboda AK (eds) Monetary problems of the international economy. Chicago University Press, Chicago, IL, pp 41–60 Krugman P (1979) Increasing returns, monopolistic competition and international trade. J Int Econ 9:469–479 Krugman P (1980) Scale economies, product differentiation and the pattern of trade.
E. Emerson et al. (1992) underlining the negative outcomes on the potential of the monetary zone. 12 Instead of enforcing the fundamentals of symmetric economic development in the euro area so as to achieve real economic convergence, euro zone decision making opted for a short sight vision of macroeconomic stabilization based on wage reduction, deregulation of labour markets and macroeconomic austerity. However, after 5 years of economic austerity it becomes clear that fiscal primary surpluses are in place not due to real competitiveness improvements but due to wage suppression, tax hikes and general austerity measures, especially in Portugal, Greece and Spain.
At the national level the issue of competitiveness takes many different readings. National competitiveness may be analysed under Porter’s diamond of national competitive advantages approach (Porter 1990). National competitiveness may be related to national productivity; therefore it may be defined as the aggregation of institutions, policies, practices, and behaviours that determine productivity (World Economic Forum 2010). 9 This relation is specified by the notion of “National Systems of Innovation” (NSI) defined as «the network of institutions in the public and private sectors whose activities and interactions initiate, import, modify and diffuse new technologies» (Freeman 1995).
Economic Crisis, Development and Competitiveness in Southeastern Europe: Theoretical Foundations and Policy Issues by Anastasios Karasavvoglou, Dimitrios Kyrkilis, Georgios Makris, Persefoni Polychronidou