Chapter

Economic performance: Growth, stability, and cohesion

André Sapir, Philippe Aghion, Giuseppe Bertola, Martin Hellwig, Jean Pisani-Ferry, Dariusz Rosati, José Viñals, Helen Wallace, Marco Buti, Mario Nava and Peter M. Smith

in An Agenda for a Growing Europe

Published in print March 2004 | ISBN: 9780199271481
Published online July 2005 | e-ISBN: 9780191602573 | DOI: http://dx.doi.org/10.1093/0199271488.003.0004
 Economic performance: Growth, stability, and cohesion

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This chapter presents an in-depth analysis of the European Union’s economic performance in terms of growth, macroeconomic stability, and cohesion. The discussion on growth focuses on long-term economic performance, the reasons behind Europe’s slow growth, educational attainment and expenditure, new entry and product markets, innovation, finance, and labour markets. Macroeconomic stability covers the importance of stability, good practices vs. good luck in achieving stability, macroeconomic policies in the EU, and the European Monetary Union. Under cohesion, the theoretical motivation and effects of European redistribution policies are reviewed, including the evolution of regional and interpersonal inequality in last decades.

Keywords: European Union; economic performance; growth; macroeconomic stability; cohesion

Chapter.  23236 words.  Illustrated.

Subjects: Economic Systems

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