The Global Financial Crisis: Lessons for European Integration
Abstract
The purpose of this paper is to analyze the various challenges facing European integration and the EU institutional architecture as result of the global financial crisis. The European integration process is not yet complete, both in terms of its content and geographical coverage. It can be viewed as a kind of intermediate hybrid between an international organization and a federation, subject to further evolution. This is also true of the Single European Market and the Economic and Monetary Union, which form the core of the EU economic architecture. Certain policy prerogatives (such as external trade, competition, and the Common Agriculture Policy) are delegated to the supranational level while others (such as financial supervision or fiscal policy) remain largely in the hands of national authorities.Download Info
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Paper provided by CASE-Center for Social and Economic Research in its series CASE Network Studies and Analyses with number 0384.Length: 34 Pages
Date of creation: 2009
Date of revision:
Handle: RePEc:sec:cnstan:0384
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Keywords: financial crisis; European integration; European Union; Economic and Monetary Union; fiscal policy; financial supervision; global financial architecture; IMF;Other versions of this item:
- Dabrowski, Marek, 2010. "The global financial crisis: Lessons for European integration," Economic Systems, Elsevier, vol. 34(1), pages 38-54, March.
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
- H87 - Public Economics - - Miscellaneous Issues - - - International Fiscal Issues; International Public Goods
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-02-20 (All new papers)
- NEP-MAC-2010-02-20 (Macroeconomics)
References
References listed on IDEASPlease 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.:
- Alan Greenspan, 2004. "Risk and Uncertainty in Monetary Policy," American Economic Review, American Economic Association, vol. 94(2), pages 33-40, May.
- Susan Schadler & Pipat Luengnaruemitchai, 2007. "Do Economists' and Financial Markets' Perspectives on the New Members of the EU Differ?," IMF Working Papers 07/65, International Monetary Fund.
- Jakob von Weizsäcker, 2009. "Estimating the size of the European stimulus packages," Policy Contributions 266, Bruegel.
- Marek Dabrowski & Malgorzata Antczak & Michal Gorzelak, 2006. "Fiscal Challenges Facing the New Member States," Comparative Economic Studies, Palgrave Macmillan, vol. 48(2), pages 252-276, June.
- Zsolt Darvas & Jean Pisani-Ferry, 2008. "Avoiding a new European divide," Policy Briefs 227, Bruegel.
- Marek Dabrowski, 2007. "EMU enlargement: A progress report," CESifo Forum, Ifo Institute for Economic Research at the University of Munich, vol. 8(1), pages 39-44, 04.
- Willem H. Buiter, 2010.
"The limits to fiscal stimulus,"
Oxford Review of Economic Policy,
Oxford University Press, vol. 26(1), pages 48-70, Spring.
- Buiter, Willem H., 2009. "The Limits to Fiscal Stimulus," CEPR Discussion Papers 7607, C.E.P.R. Discussion Papers.
- Lucjan T. Orlowski, 2008. "Stages of the Ongoing Global Financial Crisis: Is There a Wandering Asset Bubble?," IWH Discussion Papers 11, Halle Institute for Economic Research.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Marek Dabrowski, 2011. "Euro Crisis or Fiscal Crisis: Looking for the Right Diagnosis and Therapy," CESifo Forum, Ifo Institute for Economic Research at the University of Munich, vol. 12(4), pages 30-36, December.
- ŢURLEA, Eugeniu & ŞERBAN, Mihaela & ALBERT, Valeria Maria, 2011. "The Absorption Of European Funds For The Romanian Environmental Sector," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 2(3), pages 11-17.
- Marek Dabrowski, 2012. "Fiscal and Monetary Policy Determinants of the Eurozone Crisis and its Resolution," CASE Network Studies and Analyses 443, CASE-Center for Social and Economic Research.
- Marek Dabrowski, 2010. "The Global Financial Crisis and its Impact on Emerging Market Economies in Europe and the CIS: Evidence from mid-2010," CASE Network Studies and Analyses 411, CASE-Center for Social and Economic Research.
- Mező, Júlia & Udvari, Beáta, 2012. "Effects of the debt crisis on the EU-China relations," MPRA Paper 40367, University Library of Munich, Germany.
- Nathalie Rey, 2012. "European States and Financial Systems: A Biased Relationship," Post-Print halshs-00758892, HAL.
- Zuzana Brixiova & Margaret H. Morgan & Andreas Wörgötter, 2010. "On The Road to Euro: How Synchronized Is Estonia with the Euro zone?," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 7(1), pages 203-227, June.
- Criste, Adina & Mosneanu, Elena Ana, 2009. "Effects Induced By The Global Economic And Financial Crisis In The New Eu Member States," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 13(4), pages 154-161.
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