Regional integration effects of the euro: What is the empirical evidence after the first years?
In: Spatial implications of the European Monetary Union
Evidence on the static integration effects of the euro in the first years is difficult to identify. Changes in price differences and trade volumes before and after 1999 hardly show up and may require more time to become visible, although there tend to be considerable differences between euro and non-euro countries, probably for a number of reasons such as distance, the overall degree of integration and the exchange rate level of the euro. Regarding the dynamic integration effects some conclusions can be drawn from the long-term integration experience of the past. Economic integration in Europe, which is further progressing with the introduction of the euro, requires structural adjustment in all regions to bring about its positive welfare effects in the long run. Programmes of public expenditure will not be successful if not accompanied by sound economic policies, in particular a balanced macroeconomic policy-mix and structural reforms to enhance the efficiency of goods, labour and capital markets.
|This chapter was published in: ||This item is provided by Akademie für Raumforschung und Landesplanung (ARL) - Leibniz-Forum für Raumwissenschaften in its series Studies in Spatial Development: Chapters with number
59976.||Handle:|| RePEc:zbw:arlssc:59976||Contact details of provider:|| Postal: Hohenzollernstr. 11, 30161 Hannover|
Web page: http://www.arl-net.de/
More information through EDIRC
Please 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.:
- K.H. Midelfart & H.G. Overman & S.J. Redding & A.J. Venables, 2000. "The location of European industry," European Economy - Economic Papers 2008 - 2015 142, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
- Martin Hallet, 2000. "Regional specialisation and concentration in the EU," European Economy - Economic Papers 2008 - 2015 141, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
- repec:zbw:iwhwiw:4-01-3 is not listed on IDEAS
When requesting a correction, please mention this item's handle: RePEc:zbw:arlssc:59976. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics)
If references are entirely missing, you can add them using this form.