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Is the ‘European Model’ viable in a globalized world?

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Author Info
Francisco Torres () (IEE, Universidade Católica, and INA)
Annette Bongardt () (Universidade Moderna de Lisboa, IEEI e INA)

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Abstract

The issue of whether the ‘European model’ is viable in a globalized world raises the question as to what defines and conditions any European model and its competitiveness in the context of globalization and the new economy. For the sake of sustainability of its model but also to sustain support for globalization the European Union (EU) needs to take economic advantage of globalization and the knowledge-based economy. Challenges in a high-cost, high-productivity economy mean that there is a premium on dynamic efficiency gains from the liberalization and reform of markets and an economic and institutional framework that fosters innovation and flexible adjustment. The paper examines how the EU deals with governance issues and political economy factors from this perspective. The EU model, if able to legitimize itself with respect to the European integration process may as well contribute to a legitimate political governance of globalization.

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Paper provided by NIPE - Universidade do Minho in its series NIPE Working Papers with number 20/2007.

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Date of creation: 2007
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Handle: RePEc:nip:nipewp:20/2007

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Related research
Keywords: Globalization; Liberalization; European regulatory model and economic integration; Preferential trade; Global and European Governance; European Union; Single Market; Lisbon Agenda.;

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Find related papers by JEL classification:
F15 - International Economics - - Trade - - - Economic Integration
F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
F50 - International Economics - - International Relations and International Political Economy - - - General

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References listed on IDEAS
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.:
  1. Olivier Blanchard & Francesco Giavazzi, 2003. "Macroeconomic Effects Of Regulation And Deregulation In Goods And Labor Markets," The Quarterly Journal of Economics, MIT Press, vol. 118(3), pages 879-907, August. [Downloadable!] (restricted)
    Other versions:
  2. Olivier Blanchard, 2004. "The Economic Future of Europe," Journal of Economic Perspectives, American Economic Association, vol. 18(4), pages 3-26, Fall. [Downloadable!] (restricted)
    Other versions:
  3. Oecd, 2005. "The Benefits of Liberalising Product Markets and Reducing Barriers to International Trade and investment in the OECD," OECD Economics Department Working Papers 463, OECD, Economics Department. [Downloadable!]
  4. Francisco Torres & Annette Bongardt, 2007. "Institutions, Governance and Economic Growth in the EU: is there a role for the Lisbon Strategy," NIPE Working Papers 19/2007, NIPE - Universidade do Minho. [Downloadable!]
    Other versions:
  5. Annette Bongardt, 2005. "Competition Policy and EU Governance," Working Papers de Economia (Economics Working Papers) 28, Departamento de Economia, Gestão e Engenharia Industrial, Universidade de Aveiro. [Downloadable!]
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