ebook ebooks e-book e-books downloaden bei MyEbooks.ch downloaden

50 Years of EU Economic Dynamics Integration, Financial Markets and Innovations

:	Richard Tilly, Paul J. J. Welfens, Michael Heise
:	Richard Tilly, Paul J.J. Welfens, Michael Heise
:	50 Years of EU Economic Dynamics Integration, Financial Markets and Innovations
:	Springer-Verlag
:	9783540740551
:	1
:	CHF 135.30
:

:	Internationale Wirtschaft
:	English

:	356
:	Wasserzeichen
:	PC/MAC/eReader/Tablet
:	PDF

Experts present their analyses of historical developments as well as new economic challenges for the European Union. Contributors, representatives from major banks and academia, point out the dramatic economic shifts among and within Europe, Asia, and the United States. At the bottom line of this EU analysis are major implications for investors, managers, policymakers, and the public at large in both the EU and the rest of the world.

	Table of Contents	5
	Introduction	13
	A. The European Union 50 Years On: Some Comments on Its Early History	23
	A.1. Introduction	23
	A.2. Historical Background and Economic Nationalism	23
	A.3. Post-1945 European Economic Integration	25
	A.4. Conclusion	34
	References	34
	B. Global Shift – The European Union, the United States, and the Emergence of China	36
	B.1. Introduction	36
	B.2. Population	38
	B.3. Economic Activities	40
	B.4. International Trade and Economic Integration	44
	B.5. International Finance and Economic Integration	51
	B.6. Summary and Conclusions	53
	References	54
	C. Growth and Competitiveness in Euro Area Economies	57
	C.1. Introduction	57
	C.2. Conditions and Policies for Higher Euro Area Growth	58
	C.3. Output Growth Differentials in the Euro Area Countries	60
	C.4. Competitiveness of the Euro Area Countries	62
	C.5. Inflation and Cost Differentials Across the Euro Area Countries	63
	C.6. Structural Reforms for Higher Growth and Improved Competitiveness	66
	C.7. Conclusions	67
	References	68
	D. Financial Market Integration and Monetary Policy	69
	D.1. Filling the Gaps in the Chain of Substitution	69
	D.2. Integration of Financial Markets: Concepts and Indicators	70
	D.3. Financial Markets Heterogeneity: Consequences for Monetary Policy	77
	D.4. Pushing Back Limits to Arbitrage – Integration Through Markets	80
	D.5. By Way of Concluding – Variety Is Manageable	82
	References	83
	E. Instability of the Eurozone? On Monetary Policy, House Prices and Structural Reforms	85
	E.1. Introduction	85
	E.2. Monetary Policy for a Slow Growth Economy and Structural Reforms in Europe	87
	E.3. What Kind of Monetary Policy for a Slow Growth Economy?	92
	E.4. The European Monetary Policy in a Large and Diversified Economic Zone	104
	E.5. Policy Conclusions	112
	Appendix E.1	114
	References	115
	F. Financial Markets and Global Integration	119
	F.1. Introduction	119
	F.2. Levels of Financial Integration	119
	F.3. Benefits of Financial Integration	122
	F.4. Financial Market Integration and Investor Behaviour	126
	F.5. The Future for Financial Market Integration	129
	References	131
	G. Banking, Financial Market Dynamics and Growth in the EU Single Market	133
	G.1. The Importance of Financial Markets to Economic Growth	133
	G.2. The Euro and the Wholesale Market	134
	G.3. Retail Markets Still Domestically Focused	135
	G.4. Conclusion	136
	References	137
	H. Banking, Financial Market Structures and Growth in the EU Single Market	139
	H.1. Evolution of Financial Integration in the EU	139
	H.2. Integration of Wholesale Markets	140
	H.3. Integration of Retail Markets	141
	H.4. Integration of Infrastructures	142
	H.5. Institutional Integration	142
	H.6. Integration of Prudential Supervision	144
	H.7. Certain Conclusions	145
	I. Information and Communication Technology: Dynamics, Integration and Economic Stability	146
	I.1. Introduction	146
	I.2. Economic Development, Adjustment and Outsourcing	151
	I.3. Economic Stability: ICT and FDI in a Modified Dornbusch Model	175
	I.4. Challenges: Regulatory Policy and Life-Long Learning	180
	Appendix I.1: Modified Dornbusch-Model (Welfens 2006)	187
	References	188
	J. The Role of Information and Communications Technology in Improving Productivity and Economic Growth in Europe: Empirical Evidence and an Industry View of Policy Challenges	192
	J.1. Introduction	192
	J.2. The Relevance of ICT for Productivity and Economic Growth	193
	J.3. Unleashing the Growth Potential of ICT in Europe: Policy Challenges and Recommendations from an Industry Perspective	199
	J.4. Conclusion	208
	References	209
	K. Growth, Jobs and Structural Reform in France	211
	K.1. GDP per Capita: Poor Apparent Performance, Complicated Contributions	211
	K.2. Low Employment Levels: Reasons and Reforms Implemented or Needed	212
	K.3. What About Productivity?	214
	L. Growth, Jobs and Structural Reform in the Netherlands	216
	L.1. On the Importance of Economic Policies	216
	L.2. Structural Reform Progress: Some Basic Factors	217
	L.3. Structural Reforms in the Netherlands8	220
	L.4. And What Happened with the Dutch Economy fter 1983? a	222
	References	223
	M. Growth, Jobs and Structural Reforms in Greece	225
	M.1. Introduction	225
	M.2. A Broad Picture of Recent Economic Developments in Greece	225
	M.3. Final Remark	231
	References	231
	N. Economic Catching-Up, Price Levels and Inflation Rates in Central and Eastern Europe	233
	N.1. Introduction	233
	N.2. The Prices of Market-Based Services	235
	N.3. The Prices of Regulated Services and Goods	237
	N.4. Residential Property Prices	241
	N.5. Market-Based Goods Prices	243
	N.6. Inflation Differentials: Other Structural and Cyclical Factors	247
	N.7. Conclusion	249
	References	250
	O. On the Value and Need for Revising the Economic Policy Framework in the Union	252
	O.1. Introduction	252
	O.2. Background	252
	O.3. Structural Reforms	254
	O.4. Greater Internal Coordination	255
	O.5. Monetary Policy	256
	O.6. Fiscal Policy and the Stability Pact	256
	O.7. Do