European integration: the third step
AbstractA perception of declining EU competitiveness has intensified calls for structural reforms within the EU. This paper examines recent evidence on changes in relative EU competitiveness and considers the observed changes in relation to the evolving competitive environment facing EU firms during the past two decades. Our analysis suggests that recent declines in EU competitiveness reflect an adjustment (or lack thereof) within the EU in response to an evolutionary Ã¢â¬ÅThird StepÃ¢â¬ in the process of EU integration: global market integration. We find that, starting from the mid-1990s, the EU began to face unprecedented increases in external sources of competition. The rising competition from external sources has created pressures for EU firms to alter their organizational and product market strategies to meet the challenge of a globally integrating market. While many leading EU firms are found to have responded to this challenge, EU firms remain hampered by anachronistic EU product and labor market regulations. The growing calls for structural reform therefore reflect the increased external competitive pressure on EU firms as they attempt to respond to growing global competition and to thereby strengthen their global competitiveness.
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Bibliographic InfoArticle provided by Springer in its journal International Economics and Economic Policy.
Volume (Year): 4 (2007)
Issue (Month): 3 (November)
Contact details of provider:
Web page: http://www.springerlink.com/link.asp?id=111059
Competitiveness; European integration; Foreign competition; Globalization; D21; F02; F23; L10; O40;
Other versions of this item:
- Bowen, H. & Sleuwaegen, L., 2004. "European integration: the third step," Vlerick Leuven Gent Management School Working Paper Series 2004-19a, Vlerick Leuven Gent Management School.
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
- F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
- L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Wiersema,Margarethe & Bowen, Harry P., 2005. "Corporate international diversification: the impact of foreign competition, industry globalization and product diversification," Vlerick Leuven Gent Management School Working Paper Series 2005-6, Vlerick Leuven Gent Management School.
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- Harry P. Bowen & Haris Munandar & Jean-Marie Viaene, 2010. "On the Extent of Economic Integration: A Comparison of EU Countries and US States," Tinbergen Institute Discussion Papers 10-009/2, Tinbergen Institute, revised 04 Jul 2011.
- Harry P. Bowen & Haris Munandar & Jean-Marie Viaene, 2010.
"On the Extent of Economic Integration: A Comparison of EU Countries and US States,"
Tinbergen Institute Discussion Papers
10-009/2, Tinbergen Institute, revised 04 Jul 2011.
- Harry P. Bowen & Haris Munandar & Jean-Marie Viaene, 2008. "On the Extent of Economic Integration: A Comparison of E.U. Countries and U.S. States," Discussion Paper Series 2008-01, McColl School of Business, Queens University of Charlotte.
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