IDEAS home Printed from https://ideas.repec.org/p/bdi/opques/qef_124_12.html
   My bibliography  Save this paper

Europe 2020 and national reforms: economic governance and structural reforms

Author

Listed:
  • Paolo Sestito

    () (Bank of Italy)

  • Roberto Torrini

    () (Bank of Italy and ANVUR)

Abstract

Structural reforms are stressed in Europe 2020 as a tool for boosting economic growth and improving social cohesion. Yet tensions often arises between country specificities and goals, on one side, and pressures by partners and EU wide goals on the other side. The paper discusses the European economic governance issues building upon a sketchy historical account of the so called Open Method of Coordination. It is argued that the structural reforms� success depends upon aspects like the variety, ex ante identifiability and easiness to organize of their potential supporters as well as the presence of institutional mechanisms through which it is possible to compensate the potential losers and/or distributing on wider and fairer basis their benefits; furthermore mechanisms capable to contrast the shortsightedness of many political decisions, also favouring the political participation of all often silent stakeholders, are argued as essential. The most important contribution from EU wide pressures and rules is identified in the capacity building of national institution, to be based also upon stringent rules, aiming at fostering national governments� accountability and the policy evaluation tools.

Suggested Citation

  • Paolo Sestito & Roberto Torrini, 2012. "Europe 2020 and national reforms: economic governance and structural reforms," Questioni di Economia e Finanza (Occasional Papers) 124, Bank of Italy, Economic Research and International Relations Area.
  • Handle: RePEc:bdi:opques:qef_124_12
    as

    Download full text from publisher

    File URL: http://www.bancaditalia.it/pubblicazioni/qef/2012-0124/QEF_124.pdf
    Download Restriction: no

    More about this item

    Keywords

    structural reforms; economic governance; EU2020; open method of coordination;

    JEL classification:

    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
    • H79 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Other
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bdi:opques:qef_124_12. 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: (). General contact details of provider: http://edirc.repec.org/data/bdigvit.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.