Overview

How can financial flows help the EU fulfil its mandate to promote economic, social and territorial cohesion, and solidarity among Member States enshrined in the EU Treaty? Dissecting the complexity of cohesion, this book examines the factors that matter most for the functioning of the Economic and Monetary Union and the convergence of Central, Eastern and Southeastern European (CESEE) countries. This insightful and timely book brings together central bankers, policy makers and academics to discuss how to best advance and fund the catching-up process of the euro area and CESEE countries. Focusing on a modern understanding of industrial policy - which fosters skills, innovation and infrastructure - contributors highlight how the EU's regional policy can better meet persistent investments needs. Critical and comprehensive, this book is crucial reading for researchers at all levels focusing on policy reform in emerging European economies. Central bankers and policy experts in public or international organizations will also benefit from this book's contemporary perspective on monetary and industrial policies.

Full Product Details

Author:   Ewald Nowotny ,  Doris Ritzberger-Grünwald ,  Helene Schuberth
Publisher:   Edward Elgar Publishing Ltd
Imprint:   Edward Elgar Publishing Ltd
ISBN:  

9781789902594

ISBN 10:   1789902592
Pages:   192
Publication Date:   17 September 2019
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   To order  
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Table of Contents

Contents: PART I Financing economic and social cohesion 1. Funding European solidarity Ewald Nowotny, Doris Ritzberger-Grünwald, Helene Schuberth 2. The role of the European Union in fostering convergence Benoît Cœuré PART II The role of monetary policy in catching-up 3. Monetary policy and catching-up in CESEE Anita Angelovska Bezhoska 4. Some considerations about the impact of monetary policy on economic convergence Mugur Isărescu 5. Nominal versus real convergence: Bulgaria’s practical approach toward euro adoption Dimitar Radev PART III Cohesion within and between countries 6. Strengthening economic convergence in Europe Jeffrey D. Sachs 7. Trust and cohesion in Europe: lessons from the Delian League Athanasios Orphanides PART IV The role of the EU budget 8. The next EU budget and the financing of cohesion policy Sándor Richter 9. Strengthening added value and sustainability-orientation in the EU budget Margit Schratzenstaller-Altzinger 10. EU budget: How to deliver more with less? The case for financial instruments Stéphane Saurel PART V Industrial policy and investment 11. Deindustrialization, job polarization and ageing in emerging Europe Ralph De Haas, Martin Höflmayr 12. Mind the gap: How does the flow of EU funds match structural investment gaps in CESEE? Tomáš Slačík 13. Improving host countries’ investment environment: Is the national supply side really the right focus? Andrew Watt Index

Reviews

`This volume draws the links between social cohesion within European countries and economic convergence to their best performing peers. It deals comprehensively with various dimensions of the catching-up process of middle-income countries in Europe. While the countries in Central, Eastern and Southeastern Europe (CESEE) survived the financial crisis reasonably better than the periphery of the euro area, both need to adjust to new external conditions. With this formidable challenge in mind, the authors present sophisticated appraisals of the central questions and provide incisive analyses of the policy implications for individual CESEE countries and for the euro area and its member states. This book is of great topical relevance and deserves to command a wide audience including both specialists and non-specialists.' -- Pierre Moscovici, European Commission, Economic and Financial Affairs, Taxation and Customs

Author Information

Edited by Ewald Nowotny, former Governor, Doris Ritzberger-Grünwald, Director and Helene Schuberth, Head of Division, Oesterreichische Nationalbank, Austria

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