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The crisis processes in the EU development: origins and prospects

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  • V. Sidenko

Abstract

The article examines the main factors that lead to crises in the development of integration in the EU and the euro area related to the asymmetry in the system of macroeconomic regulation and in the relationship between the Community and national regulations. The author proves the thesis that the crisis in the EU is predetermined by the cyclical development of regional integration processes dependent on Kondratiev long (technological) waves. He summarizes the existing theoretical approaches to the question of disintegration processes and describes possible scenarios for the further evolution of the EU and the euro area, which can be implemented in the direction of either strengthening the institutional integration or disintegration and consolidation of a differentiated (multi-level) integration model. The author concludes that the integration strategy of Ukraine should be adjusted to take into account various options and possible future evolution of the EU. To achieve success, key aspects of such strategy are to become a subject for multi-variant scientific research, which could provide ground for the future adoption of relevant political decisions.

Suggested Citation

  • V. Sidenko, 2017. "The crisis processes in the EU development: origins and prospects," Economy and Forecasting, Valeriy Heyets, issue 1, pages 7-30.
  • Handle: RePEc:eip:journl:y:2017:i:1:p:7-30
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    File URL: http://eip.org.ua/docs/EP_17_1_07_en.pdf
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    1. Robert A. Mundell, 1962. "The Appropriate Use of Monetary and Fiscal Policy for Internal and External Stability," IMF Staff Papers, Palgrave Macmillan, vol. 9(1), pages 70-79, March.
    2. Hooghe, Liesbet & Marks, Gary, 2009. "A Postfunctionalist Theory of European Integration: From Permissive Consensus to Constraining Dissensus," British Journal of Political Science, Cambridge University Press, vol. 39(01), pages 1-23, January.
    3. Hans Vollaard, 2014. "Explaining European Disintegration," Journal of Common Market Studies, Wiley Blackwell, vol. 52(5), pages 1142-1159, September.
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