IDEAS home Printed from
   My bibliography  Save this paper

Belgium as a small open economy in the core of Europe


  • Abraham, Filip


Small open economies in Europe share many of the same characteristics, policy choices and economic problems. This paper argues that Belgium is profoundly affected by its position as a small open economy in the core of the European Union. Yet, this European dimension does not prevent that even a small open economy as Belgium takes policy decisions with far-reaching consequences. The Belgian experience also provides several interesting insights for other small European countries and for the European integration process as a whole. In this context, particular attention is paid to (1) the consequences of a fixed exchange rate policy, (2) the interdependence between exchange rate stabilization, income policy and international competitiveness, (3) budgetary discipline in the run-up to European Monetary Union, (4) long-run international trade specialization, (5) labor market performance and (6) Belgian federalism.

Suggested Citation

  • Abraham, Filip, 1995. "Belgium as a small open economy in the core of Europe," Discussion Papers 109, VATT Institute for Economic Research.
  • Handle: RePEc:fer:dpaper:109

    Download full text from publisher

    File URL:
    Download Restriction: no


    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:fer:dpaper:109. 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: (Anita Niskanen). General contact details of provider: .

    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.