The European Union Between Monetary And Fiscal Union Analysis In The Field Of Foreign Direct Investment
The aim of the paper is to point out the important issues of functioning of the European Union since its foundation, which are further complicated by global economic and financial crisis. In elaboration of problems, relevant studies and articles, documents of the European Union were used, as well as reports and publications (national and international). Existing data and trends in this area were analyzed, as well as measures affecting further functioning of the EU, by using the methods of qualitative and descriptive analysis. This approach is necessary because there are no universal patterns in domain of specified problems, and the conclusions are valid in strictly defined international symbolic systems and relate to entities of strictly established international interactions in the context of a specific time. The basic results derived from the available empirical research in this area point to the fact that today's debt crisis could contribute to creation of a closer union of European states. This conclusion follows from the fact that member states have expressed willingness to transfer a part of their fiscal sovereignty under a rigorous programme of fiscal consolidation.
Volume (Year): (2012)
Issue (Month): 3-4 (March)
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- Bernheim, B Douglas, 1989. "A Neoclassical Perspective on Budget Deficits," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 55-72, Spring.
- Bela Balassa, 1964. "The Purchasing-Power Parity Doctrine: A Reappraisal," Journal of Political Economy, University of Chicago Press, vol. 72, pages 584.
- Davina Jacobs & Nj Schoeman & Jh Van Heerden, 2002. "Alternative Definitions of the Budget Deficit and its Impact on the Sustainability of Fiscal Policy in South Africa," South African Journal of Economics, Economic Society of South Africa, vol. 70(3), pages 251-257, 03.
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