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How will EMU affect Cohesion?

Author

Listed:
  • Brian Ardy

    (South Bank University and University of Reading)

  • Iain Begg

    (European Institute, London School of Economics and Political Science)

  • Waltraud Schelkle

    (European Institute, London School of Economics and Political Science)

  • Francisco Torres

    (Departamento de Economia e Gestão Industrial, Universidade de Aveiro)

Abstract

The new policy environment of EMU affects economic, political, and social cohesion in different ways: the policy mix and menu will be reconfigured; it will provide for more macroeconomic stability in cohesion countries; economic competition will intensify and change patterns of specialisation; and comparison of living standards will become easier which puts pressure on policymakers to reduce inequalities. This article assesses the significance of these effects and their likely consequences in the short, medium and long run. Then the salient cohesion issues regarding Eastern enlargement are discussed. Finally, policy conclusions are drawn, mindful of the considerable uncertainties that warrant further research.

Suggested Citation

  • Brian Ardy & Iain Begg & Waltraud Schelkle & Francisco Torres, 2003. "How will EMU affect Cohesion?," Working Papers de Economia (Economics Working Papers) 06, Departamento de Economia, Gestão e Engenharia Industrial, Universidade de Aveiro.
    • Handle: RePEc:ave:wpaper:062003
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    Cited by:

    1. Miguel Lebre de Freitas & Francisco Torres & Celeste Amorim & Annette Bongardt & Ricardo Silva & Marta Dias, 2005. "Regional Convergence in Portugal: Policy Impacts (1990-2001)," Working Papers de Economia (Economics Working Papers) 35, Departamento de Economia, Gestão e Engenharia Industrial, Universidade de Aveiro.
    2. Florence Bouvet, 2010. "EMU and the dynamics of regional per capita income inequality in Europe," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 8(3), pages 323-344, September.

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    Keywords

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    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General

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