Euro and the three Cs - competition, competitiveness, convergence

Iordan-Constantinescu, Nicolae (2014): Euro and the three Cs - competition, competitiveness, convergence. Published in: Journal of Euro and Competitiveness No. issue nr. 2/2014 (7 August 2014): pp. 4-12.

Abstract

The article argues that neither the EU member states, nor the EU candidate states give enough attention to the requirement of maintaining a high economic performance of their economies by convergence and competitiveness strategies, so that they could have "the capacity to cope with competitive pressures and market forces within the Union" and ensure the proper functioning of the single currency. Instead, by the synergy of internal market and single currency, coupled with a populist nationalistic policy at the level of most EU member states, ideal conditions were generated so that factors distribution spontaneously acts, as proved consistently and more visible during the latest financial and economic crisis, by the so-called countries' specialization, deindustrialization and a North-South rupture.

• Item Type: MPRA Paper
• Language: English
• Keywords: competitiveness, competition, convergence, euro, single currency, monetary policy
• Subjects: E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E42 - Monetary Systems ; Standards ; Regimes ; Government and the Monetary System ; Payment Systems; E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook > E61 - Policy Objectives ; Policy Designs and Consistency ; Policy Coordination; F - International Economics > F3 - International Finance > F36 - Financial Aspects of Economic Integration; F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F43 - Economic Growth of Open Economies; G - Financial Economics > G1 - General Financial Markets > G15 - International Financial Markets; O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O47 - Empirical Studies of Economic Growth ; Aggregate Productivity ; Cross-Country Output Convergence

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