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How will EMU affect Cohesion?

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Author Info

  • Brian Ardy

    (South Bank University and University of Reading)

  • Iain Begg

    (European Institute, London School of Economics and Political Science)

  • Waltraud Schelkle

    (European Institute, London School of Economics and Political Science)

  • Francisco Torres

    ()
    (Departamento de Economia e Gestão Industrial, Universidade de Aveiro)

Abstract

The new policy environment of EMU affects economic, political, and social cohesion in different ways: the policy mix and menu will be reconfigured; it will provide for more macroeconomic stability in cohesion countries; economic competition will intensify and change patterns of specialisation; and comparison of living standards will become easier which puts pressure on policymakers to reduce inequalities. This article assesses the significance of these effects and their likely consequences in the short, medium and long run. Then the salient cohesion issues regarding Eastern enlargement are discussed. Finally, policy conclusions are drawn, mindful of the considerable uncertainties that warrant further research.

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Bibliographic Info

Paper provided by Departamento de Economia, Gestão e Engenharia Industrial, Universidade de Aveiro in its series Working Papers de Economia (Economics Working Papers) with number 06.

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Length: 25 pages
Date of creation: Oct 2003
Date of revision:
Handle: RePEc:ave:wpaper:062003

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Keywords: cohesion; EMU; regional development; macroeconomic stability; enlargement;

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References

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  1. Giuseppe Carone & Aino Salomaki, 2004. "Reforms In Tax-Benefit Systems In Order To Increase Employment Incentives In The Eu," Labor and Demography, EconWPA 0410005, EconWPA.
  2. Arratibel, Olga & Rodriguez-Palenzuela, Diego & Thimann, Christian, 2002. "Inflation dynamics and dual inflation in accession countries: a 'New Keynesian' perspective," Working Paper Series, European Central Bank 0132, European Central Bank.
  3. Fatás, Antonio & Mihov, Ilian, 1999. "Government Size and Automatic Stabilizers: International and Intranational Evidence," CEPR Discussion Papers, C.E.P.R. Discussion Papers 2259, C.E.P.R. Discussion Papers.
  4. Jan Fagerberg, 1999. "The Economic Challenge for Europe: Adapting to Innovation-Based Growth," Working Papers, Centre for Technology, Innovation and Culture, University of Oslo 2, Centre for Technology, Innovation and Culture, University of Oslo.
  5. Jakob de Haan & Robert Inklaar & Olaf Sleijpen, 2002. "Have Business Cycles Become More Synchronized?," Journal of Common Market Studies, Wiley Blackwell, Wiley Blackwell, vol. 40(1), pages 23-42, 03.
  6. Giuseppe Nicoletti & Andrea Bassanini & Ekkehard Ernst & Sébastien Jean & Paulo Santiago & Paul Swaim, 2001. "Product and Labour Markets Interactions in OECD Countries," OECD Economics Department Working Papers 312, OECD Publishing.
  7. Karl Aiginger & Michael Pfaffermayr, 2004. "The Single Market and Geographic Concentration in Europe," Review of International Economics, Wiley Blackwell, vol. 12(1), pages 1-11, 02.
  8. Frankel, Jeffrey A. & Rose, Andrew K., 1997. "Is EMU more justifiable ex post than ex ante?," European Economic Review, Elsevier, Elsevier, vol. 41(3-5), pages 753-760, April.
  9. Arjan M. Lejour & Ruud A. de Mooij & Richard Nahuis, 2001. "EU Enlargement: Economic Implications for Countries and Industries," CESifo Working Paper Series 585, CESifo Group Munich.
  10. Aadne Cappelen & Jan Fagerberg & Bart Verspagen, 1999. "Lack of regional convergence," Working Papers Archives, Centre for Technology, Innovation and Culture, University of Oslo 1999001, Centre for Technology, Innovation and Culture, University of Oslo.
  11. Thom, Rodney & Walsh, Brendan, 2002. "The effect of a currency union on trade: Lessons from the Irish experience," European Economic Review, Elsevier, Elsevier, vol. 46(6), pages 1111-1123, June.
  12. Andrew K. Rose, 2000. "One money, one market: the effect of common currencies on trade," Economic Policy, CEPR;CES;MSH, CEPR;CES;MSH, vol. 15(30), pages 7-46, 04.
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Cited by:
  1. Florence Bouvet, 2010. "EMU and the dynamics of regional per capita income inequality in Europe," Journal of Economic Inequality, Springer, Springer, vol. 8(3), pages 323-344, September.
  2. Miguel Lebre de Freitas & Francisco Torres & Celeste Amorim & Annette Bongardt & Ricardo Silva & Marta Dias, 2005. "Regional Convergence in Portugal: Policy Impacts (1990-2001)," Working Papers de Economia (Economics Working Papers), Departamento de Economia, Gestão e Engenharia Industrial, Universidade de Aveiro 35, Departamento de Economia, Gestão e Engenharia Industrial, Universidade de Aveiro.

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