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Impact of Establishing the Eurozone on Economic Performance

Author

Listed:
  • Jan Skope?ek

    (Faculty of Economics, University of Economics, Prague)

Abstract

The paper focuses on the impact of deepening the European integration process or the launch of the euro on the economic performance of the European economy. It points to weak economic growth rates in European economies, thus disproving the assumption of the fathers of the common European currency that the introduction of the euro will lead to higher economic growth rates. It analyses European strategies to make the Eurozone the most competitive economic center in the world, discussing the reasons why these strategies have repeatedly failed. Furthermore, the term secular stagnation in the European context is also debated. The text also discusses the reasons for the weak economic growth of the Eurozone and points to divergent developments in European economies within the Eurozone.

Suggested Citation

  • Jan Skope?ek, 2021. "Impact of Establishing the Eurozone on Economic Performance," International Journal of Business and Management, International Institute of Social and Economic Sciences, vol. 9(2), pages 57-74, November.
    • Handle: RePEc:sek:jijobm:v:9:y:2021:i:2:p:57-74
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    References listed on IDEAS

    as
    1. Romain Duval & Jørgen Elmeskov, 2005. "The Effects of EMU on Structural Reforms in Labour and Product Markets," OECD Economics Department Working Papers 438, OECD Publishing.
    2. Christian Thimann, 2015. "The Microeconomic Dimensions of the Eurozone Crisis and Why European Politics Cannot Solve Them," Journal of Economic Perspectives, American Economic Association, vol. 29(3), pages 141-164, Summer.
    3. Robert J. Gordon, 2012. "Is U.S. Economic Growth Over? Faltering Innovation Confronts the Six Headwinds," NBER Working Papers 18315, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Economic Integration; Monetary Union; Optimum Integration Area; ECB; GDP; Growth; Interest Rates; Regulation; Aggregate Labor Productivity; Cross Country Output Convergence;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • O49 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other
    • K20 - Law and Economics - - Regulation and Business Law - - - General

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