Europe 2020 and national reforms: economic governance and structural reforms
AbstractStructural reforms are stressed in Europe 2020 as a tool for boosting economic growth and improving social cohesion. Yet tensions often arises between country specificities and goals, on one side, and pressures by partners and EU wide goals on the other side. The paper discusses the European economic governance issues building upon a sketchy historical account of the so called Open Method of Coordination. It is argued that the structural reforms’ success depends upon aspects like the variety, ex ante identifiability and easiness to organize of their potential supporters as well as the presence of institutional mechanisms through which it is possible to compensate the potential losers and/or distributing on wider and fairer basis their benefits; furthermore mechanisms capable to contrast the shortsightedness of many political decisions, also favouring the political participation of all often silent stakeholders, are argued as essential. The most important contribution from EU wide pressures and rules is identified in the capacity building of national institution, to be based also upon stringent rules, aiming at fostering national governments’ accountability and the policy evaluation tools.
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Bibliographic InfoPaper provided by Bank of Italy, Economic Research and International Relations Area in its series Questioni di Economia e Finanza (Occasional Papers) with number 124.
Date of creation: Apr 2012
Date of revision:
Structural reforms; Economic Governance; EU2020; Open Method of Coordination;
Find related papers by JEL classification:
- F55 - International Economics - - International Relations and International Political Economy - - - International Institutional Arrangements
- H79 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Other
- O43 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-05-22 (All new papers)
- NEP-EEC-2012-05-22 (European Economics)
- NEP-EUR-2012-05-22 (Microeconomic European Issues)
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