The European Debt Crisis And Its Effects On Germany S Economic Competitiveness
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The European Debt Crisis And Its Effects On Germany S Economic Competitiveness
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Author : Christian Tschäbunin
language : en
Publisher: GRIN Verlag
Release Date : 2017-08-01
The European Debt Crisis And Its Effects On Germany S Economic Competitiveness written by Christian Tschäbunin and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-01 with Business & Economics categories.
For Germany, as a strongly export-oriented economy, competitiveness on the international markets is of critical importance for its wealth and economic growth. A loss of competitive advantages could therefore severely affect the German economy. The aim of this book is to answer the question if and in what way this threat affected Germany’s economic competitiveness during the European debt crisis. The results will then be used to further define the publicly dominant disadvantages as well as possible advantages for Germany as a consequence of the crisis. In the end, the book also has the objective to give policy recommendations for the euro crisis from a German perspective. The results can subsequently contribute to the discussion whether Germany’s current policy is really „without any alternative“. In order to achieve the overall research goal, a combination of literature review and comprehensive data analysis is used. First of all, to provide a first „pillar“ of contextual background for the following analysis, an overview of the development and causes of the European debt crisis is given by referring to existing literature. Also, this section presents the financial and economic consequences of the described events in a graphical manner. Secondly, to construct the second pillar of conceptual framework, the term „economic competitiveness” is defined by a comprehensive literature review. Emphasis is put upon the concept of „ability to sell” and the measurement method of the country rankings while a short overview of other concepts is also provided. Finally, in combining theory and practice, an in-depth data-based analysis of the development of Germany’s economic competitiveness is given. With the help of various publicly available data sources, Germany’s ability to sell and other competitiveness metrics are tracked and elaborated on over the last centuries, with a special emphasis on the timeframe of the European debt crisis. Furthermore, comparisons to other countries are made to emphasize characteristics unique to Germany. Ultimately, the results of the analyses are evaluated and concluded in a short discussion about Germany’s current policy in the euro crisis. In this book: - the European debt crisis; - the role of Germany; - competitiveness; - prosperity; - ability to sell
Competitiveness In The European Economy
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Author : Stefan Collignon
language : en
Publisher: Routledge
Release Date : 2014-02-05
Competitiveness In The European Economy written by Stefan Collignon and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-05 with Business & Economics categories.
This book deals with the relationship between the competitiveness of countries in Europe and the analysis of macroeconomic imbalances. It focuses mainly on a European analysis, along with special studies of the German economy, which is rarely considered to be a cause for the current crisis. The book also compares Germany with Italy, providing a comparative perspective on structural reforms. The first part of this book analyses macroeconomic imbalances based on a new framework from the analysis of the flow of founds rather than balance of payments, and presents an alternative measure of unit labour cost comparisons to investigate the relationship between imbalances and competitiveness. The second part is dedicated to the analysis of the trade performance of Germany and Italy and the sustainability of the German model in the EMU. The third part describes the reform policies implemented by Germany and their effect on imbalances; this includes wage moderation, the labour market reforms and weak labour demand. The final part explores the regional inequalities within Germany and Italy, providing useful lessons regarding fiscal federalism and regional banking developments. In conclusion, a big part of the problems within the Euro Area are generated by the use of a wrong framework of analysis, where the EMU is considered as a fixed exchange rate regime and not a single country. This book provides an alternative view which holds at the core the relationship between sectors. It is stressed throughout the book that the German behaviour has contributed to the rise of imbalances between countries due to its growth model, not suitable for a big developed country in a currency union. This book also finds that stressing banking integration within countries helps to reduce regional inequalities, which has important implications for the management of Europe’s future banking union and macroeconomic imbalances.
The Crisis Oriented Monetary Policy Of The Ecb Consequences For The Emu States
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Author : Johann Gross
language : en
Publisher: GRIN Verlag
Release Date : 2017-01-16
The Crisis Oriented Monetary Policy Of The Ecb Consequences For The Emu States written by Johann Gross and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-16 with Business & Economics categories.
Master's Thesis from the year 2015 in the subject Economics - Monetary theory and policy, grade: 1, University of applied sciences, Nürnberg, course: International Management, language: English, abstract: With the launch of the Eurozone as a monetary union and the EU as a supranational amalgamation of sovereign countries, the European debt crisis tangents nearly all member states and does not limit itself to several countries. Exactly here the shoe pinches, as former national problems transferred into international challenges with economic and social costs for a higher group of states which have to bear the consequences. The first problem is, that the stability-oriented monetary policy of the ECB turned into crisis-oriented operations and unconventional monetary decisions which potentially will convert in real consequences for the EMU states and cause economic costs. Second, the European debt crisis is not solved by bailing out countries like the PIIGS states, as governments still increase their public debts, the EU and its institutions only achieve a suspension of the problem but does not resolve it by the roots. Most of the so called PIIGS states, did not use the low-interest period to remove the debt level and to reform their economic structure for a higher economic competitiveness which would have an effect on the GDP. Rather, some states increased their public debts and had a decrease in the GDP, which definitely turns into a grave situation.
Greek Debt Crisis A Representation Of The Eurozone Crisis
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Author : Caroline Mutuku
language : en
Publisher: GRIN Verlag
Release Date : 2018-07-16
Greek Debt Crisis A Representation Of The Eurozone Crisis written by Caroline Mutuku and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-16 with Political Science categories.
Academic Paper from the year 2018 in the subject Business economics - Economic Policy, grade: 1, , language: English, abstract: Over the years, fiscal crisis in various regions have led to recession which hurts the economies of the concerned countries. Currently, Europe is battling a detrimental debt crisis that has put economic growth across Europe at stake. In this case, Greece is the most hit country by the current European debt crisis because it has huge debt to settle. Ironically, it is quite difficult to experience any significant growth because its competitiveness within the Eurozone remains low, yet it is expected to recover and settle its debts. Greece has no control over the Euro because it is controlled by the European Central Bank that regulates financial flow and rates within the Eurozone. In general, the European debt crisis has affected European countries in different ways. For instance, Greece owes Germany and France a huge government debt. It is estimated that Greece, Portugal and Italy are the biggest debtors within the Eurozone. By the end of the first quarter of 2015, Greece has a government debt to GDP ratio of 168.8%, followed by Italy with 135.1%, whereas Portugal recorded a ratio of 129.6%. On the other hand, the lowest debtors were Bulgaria with the ratio of 29.6%, Luximbourg with 21.6& and Estonia with 10.5%. As a result, the public debt to GDP ratio for the Eurozone has risen to 92.6 percent in the first quarter of 2015 (RT, 2015). Therefore, this article will give a comprehensive overview of the European debt crisis with focus on Greece.
Crisis In The Eurozone Periphery
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Author : Owen Parker
language : en
Publisher: Springer
Release Date : 2018-02-19
Crisis In The Eurozone Periphery written by Owen Parker and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-19 with Political Science categories.
This book investigates the causes and consequences of crisis in four countries of the Eurozone periphery – Greece, Spain, Portugal and Ireland. The contributions to this volume are provided from country-specific experts, and are organised into two themed subsections: the first analyses the economic dynamics at play in relation to each state, whilst the second considers their respective political situations. The work debates what made these states particularly susceptible to crisis, the response to the crisis and its resultant effects, as well as the manifestation of resistance to austerity. In doing so, Parker and Tsarouhas consider the implications of continued fragilities in the Eurozone both for these countries and for European integration more generally.
Europe And The Euro
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Author : Enrico Marelli
language : en
Publisher: Springer
Release Date : 2016-11-17
Europe And The Euro written by Enrico Marelli and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-17 with Business & Economics categories.
This book offers a fresh perspective on the recent Eurozone "double crisis" and its related economic policies. The authors present empirical evidence which sheds new light on the growing economic and political debate on the future of the Euro, the Eurozone and the EU. The book investigates and assesses the impact of the crisis with particular reference to monetary and fiscal policy, whose protracted austerity approach has dampened economic growth. In their discussion of the long-run European integration process, the authors emphasize the original weaknesses in the construction of the European Monetary Union and examine its failure to respond to the recent crisis. The concluding chapter focuses on the need for crucial reform in European governance and discusses the impact of the UK’s recent EU membership referendum. Scholars, students and members of the general public with an interest in the future of the Eurozone will find this work thought-provoking, instructive and highly informative.
Imperative Of Economic Growth In The Eurozone Competitiveness Capital Flows And Structural Reforms
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Author : Lubor Lacina
language : en
Publisher: Vernon Press
Release Date : 2018-01-15
Imperative Of Economic Growth In The Eurozone Competitiveness Capital Flows And Structural Reforms written by Lubor Lacina and has been published by Vernon Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-15 with Business & Economics categories.
European economic recovery appears to be taking hold. So is the European crisis over? The acute phase of the crisis passed, however a number of medium and long term issues remain. The policies of “internal devaluations” are working, albeit slowly, to restore competitiveness in the countries most affected by the crisis. However, growth remains at best sluggish. The medium and long term outlook remains highly uncertain, fomenting social tensions and endangering political stability. The restoration of economic dynamism is increasingly perceived as the answer to the question of the “European” future – economically, politically and socially. There is a broad consensus that dynamic structural reforms and the restoration of competitiveness at the level of the global economy are key answers to current European challenges. However, whatever the form these may take, the transfer of resources is implicit (and seemingly necessary), to underpin the current structure of eurozone. This indeed raises the question of governance – both fiscal and monetary. After all, the provision of resources implies an allocation – and it is hard to imagine that resources will be provided to the common pool unless the providers have some say with respect to allocation. And that requires some form of common (i.e. centralized) decision-making procedures, in all likelihood exceeding the common understanding of the acquis communautaire as it exists today – i.e. some form of the effective political arrangement. In this context, the basic idea which connects all contributions in this volume is the analysis of the problems which affected the Eurozone in the past decade and the challenges and dilemmas the Eurozone will face in the coming years.
The European Financial Crisis
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Author : Robert Godby
language : en
Publisher: Business Expert Press
Release Date : 2013-11-30
The European Financial Crisis written by Robert Godby and has been published by Business Expert Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-11-30 with Business & Economics categories.
The European debt crisis has posed a challenge for many people to understand, both non-Europeans and Europeans alike. Even economists, finance specialists and market commentators are often uncertain of its causes or in the interpretation of events ongoing, or of past events that have taken place that then shaped the current situation. Typically this lack of understanding results from a lack of understanding of how European institutions work, the structure of European politics and the Eurozone, the economics of the financial system, or the relationship of debt markets to current government policies in the EU. The purpose of this book is to describe the causes and outcomes of the European debt crisis (to the date of publication) within the context of three questions most often asked about the debt crisis: (i) what happened? (ii) why did it happen? and (iii) why has the crisis been so difficult for policy-makers to address? The book attempts to answer these questions in a straightforward, scholarly and thoughtful fashion, thereby developing a wider understanding of the crisis in its entirety for the reader. The book is by no means meant to be an exhaustive treatment on any of the issues it discusses. But the approach taken should be useful for those people who wish to better understand the events of the European financial crisis over the past three years but who do not need to acquire an exhaustive background in European institutions, debt markets, history and economic policy-making. For that reason the proposed book would have appeal to undergraduate students in business, economics, politics or interdisciplinary studies looking for an approachable yet detailed overview of the crisis, for graduate classes seeking similar goals and lay-people or professionals interested generally in the topic and/or with a need to acquire a basic understanding of the topic. Further, the book could serve as an introduction in courses or settings that lead to deeper discussion of the economic, political, and financial issues it presents.
The Economic Consequences Of The Euro
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Author : Stefan Kawalec
language : en
Publisher: Routledge
Release Date : 2019-12-05
The Economic Consequences Of The Euro written by Stefan Kawalec and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-05 with Business & Economics categories.
This book presents a new narrative on the eurozone crisis. It argues that the common currency has the potential to kill the European Union, and the conventional wisdom that the eurozone can be fixed by a common budget and further political integration is incorrect. The authors address key questions such as why the European Union and the single market have been successful, why the common currency poses a threat to European integration, and whether it is possible to either fix the eurozone or dissolve it while keeping the EU and the single market. Contrary to the view that it would be best if the Southern European countries left the eurozone first, the book makes the case that the optimal solution would be to start the process with the most competitive countries exiting first. The authors argue that a return to national currencies would be beneficial not only to the crisis-ridden southern countries, but also to France and Germany, which were the main promoters of the single currency. An organised unwinding of the euro area would be beneficial both for the European economy and for Europe’s main trading partners. The authors contend that to defend the euro at all costs weakens the European economy and threatens the cohesion of the European Union. If pro-European and pro-market EU leaders do not dismantle the eurozone, it will most likely be done by their anti-European and anti-market successors. If that happens, the European Union and the common market will be destroyed. This book will be a useful and engaging contribution to the existing literature in the fields of macro, monetary and international finance and economics.
From Crisis To Convergence
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Author : Mr.Dmitry Gershenson
language : en
Publisher: International Monetary Fund
Release Date : 2016-03-25
From Crisis To Convergence written by Mr.Dmitry Gershenson and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-25 with Business & Economics categories.
In 2011, following years of large-scale external imbalances financed by debt, Portugal’s economy reached a crisis point. To restore economic growth and credibility with international lenders, the country embarked on a difficult path of fiscal adjustment and structural reforms. By many metrics, Portugal’s 2011–14 macroeconomic stabilization program has been a success, but going forward Portugal would benefit from policies to reduce vulnerabilities, absorb labor slack, and generate sustainable growth.