The Political Economy Of Structural Reforms In Europe

Reforms in labour and product markets play a central role in government policies. The Political Economy of Structural Reforms in Europe takes stock of current frontier work. It brings together leading contributions from academia, the central banks in Europe, and the OECD to argue that structural reforms can make a fundamental contribution to improve economic performance across Europe. The Political Economy of Structural Reforms in Europe brings together theoretical and empirical studies that address the potential role of structural reforms in restoring macroeconomic stability, resuming economic growth, addressing income inequality, and grappling secular stagnation. It throws new light on the determinants and effects of structural reforms and on how these shape the European integration experience.

In recent years the countries of southern Europe have undergone, with varying intensity, a serious and prolonged economic crisis. Most have had to implement comprehensive economic adjustment programmes, including a wide range of structural reforms. Economic Crisis and Structural Reforms in Southern Europe examines these reforms, drawing policy lessons from their successes and failures. This book employs two basic strands of analysis: issues of policy design, and political economy considerations. It considers the choice of timing and sequencing of reforms, the choice of the appropriate policy instruments, the pressure of interest groups and the political calculations involved in reforms. Featuring chapters in which contributors explore both national cases of specific structural reforms, and a comparative approach in order to evaluate similar reforms across countries, this important and topical work explores ongoing issues within the economy. Focusing on the challenges of designing and implementing structural reforms under conditions of crisis, this book will be of interest to policy makers and researchers from national and international organizations as well as academics and members of research institutes interested in the economics and politics of the Eurozone crisis.

Our economies face constant challenges from many different directions. Structural reforms are implemented every day, either to grasp the benefits of globalization and technological change, or to avoid foundering on unaffordable welfare systems or the rise of new economies.Despite this flurry of reforms, many of their effects are insufficiently understood. What makes reforms a success or a failure? Why do we witness systematically ambivalent attitudes to reforms? Can governments implement reforms differently, without inflicting prejudice to large fringes of the population?This book explores these issues by comparing a number of reforms, across a large set of countries and sectors. First, through an innovative multisectorial input-output analysis, the authors compare the effects of liberalisation reforms in the telecommunication and electricity sectors across Europe. Surprisingly, they find that very similar and well-intended reforms can generate highly contrasted outcomes. It is also shown that governments must consider the effects of each reform on all sectorsof the economy. Second, the authors explore how governments can tailor their reform strategy to alter the redistributive effects of reforms. They show that the government's approach to reforms has been very different across time and across countries. A government's approach depends on localinstitutions, on the nature of the opposition, and on the scope of the reform under way. The authors, however, show that governments do have alternatives. Often, there are ways to tailor reforms so as to protect specific parts of the population; and there are ways to experiment gradually, to avoid costly policy mistakes.

A state-of-the-art overview of the impacts of structural reforms on growth, employment and inequality in Europe.

The Political Economy of Integration in the European Union has gained a well-deserved reputation as the key textbook in the area of European studies, economics and politics. This new and fully revised edition comprehensively surveys recent changes - such as the deepening and widening of European integration through eastward expansion and the Maastricht and Amsterdam Treaties - whilst continuing to offer a thorough overview of integration. The core material has been revised to ensure the best possible grounding in the political economy of the EU. Jeffrey Harrop presents an accessible account of European integration, including: * free trade, the customs union and the internal market * agriculture and fisheries * industrial and technological policies * regional and social problems and policies * monetary integration * fiscal policy: taxation and the EU budget * world-wide trading links * an in-depth discussion of EU enlargement, including the proposed integration of Central and East European countries * an assessment of energy, transport and environment policies * an overall view of the progress and possible future of the European Union. The book has been widely adopted for both specialist courses in economics as well as interdisciplinary courses in European studies. Teachers who are already using the book or who would like to consider it are invited to send for a 60-day examination copy of the third edition.

The enlargement process, the creation of the Monetary Union and the need to promote further the political and economic integration of Europe have ignited an intense debate at the European level among researchers and policy-makers. Examining the effects that political, legal, and regulatory institutions have on economic development, this book provides new contributions on the political economy of the European constitution. It covers many issues including social protection, fiscal reform and regional policies that are on the table of European policy makers. Furthermore, it provides ideas and analysis of such issues as the problem of voting reform, the centralization and decentralization of the policy process and the allocation of new policy prerogatives at the EU level which are crucial for the design of a new European constitution.

Very comprehensive and based on a detailed economic and political analysis, Between Growth and Stability is clearly a vital book for both students and seasoned economists. . . Thomas Bauwens, Bibliothèque Européenne Combining economic and political science perspectives, this timely and important book describes and analyses the circumstances and events leading to the demise and subsequent reform of the Stability and Growth Pact (SGP). Between Growth and Stability aims to find a solution to the dilemmas posed by fiscal policy coordination in the context of a single currency area, as well as contrasting the alternative heuristic frameworks and theoretical perspectives employed. It focuses particularly on the question of credibility, its definition and its meaning in the day-to-day workings of economic and monetary union. The book examines the actual performance of the SGP and proposes ways in which the integrity of European fiscal rule making might be improved in the future. This book will be essential reading for policymakers, politicians, members of European institutions and international organizations. The in-depth analysis will also be invaluable to scholars of international relations and economics, as well as undergraduate and postgraduate students in international relations, political science and economics.

This volume focuses on the aftermath of the euro crisis and whether the reforms have brought about lasting changes to the economic and political structures of the crisis countries or if the changes were short-term and easily abandoned post-bailout and post-recovery. Starting with an analysis of the state of euro area governance at the onset of the crisis and the ensuing reforms, the book considers structural conditions as well as those specific to the domestic political economy of most of the countries affected by the crisis, including Greece, Ireland, Portugal, Spain, and Italy. It presents up-to-date and incisive analysis of the aftermath of the crisis and suggests how we can situate it within our understanding of different national growth models in Europe. This book will be of key interest to scholars, students and practitioners interested in the Euro Crisis, Economic and Monetary Union, European Union and European politics and more broadly to Comparative Politics, Political Economy, International Relations, Economics, Finance, Business and Industry.