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Developmental perspectives on Europe


  • László Csaba

    () (Central European University and Corvinus University of Budapest, International Political Economy, Budapest, Hungary)


The crisis of 2008–2009 has ended, stockmarkets skyrocketed in 2012–2013, while growth of the real sector remained sluggish in Europe. This article attempts to explain the latter puzzle. Analyzing long term factors, the costs of short-termism in crisis management become obvious. The limitations of EU as a growth engine are highlighted.

Suggested Citation

  • László Csaba, 2014. "Developmental perspectives on Europe," Society and Economy, Akadémiai Kiadó, Hungary, vol. 36(1), pages 21-36, March.
  • Handle: RePEc:aka:soceco:v:36:y:2014:i:1:p:21-36

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    More about this item


    fiscal consolidation; growth crisis; structural reform; new political economy;

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • P26 - Economic Systems - - Socialist Systems and Transition Economies - - - Political Economy


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