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  1. International Economics and Economic Policy
  2. International Economics and Economic Policy : Volume 4
  3. International Economics and Economic Policy : Volume 4, Issue 3, November 2007
  4. European integration: the third step
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International Economics and Economic Policy : Volume 14
International Economics and Economic Policy : Volume 13
International Economics and Economic Policy : Volume 12
International Economics and Economic Policy : Volume 11
International Economics and Economic Policy : Volume 10
International Economics and Economic Policy : Volume 9
International Economics and Economic Policy : Volume 8
International Economics and Economic Policy : Volume 7
International Economics and Economic Policy : Volume 6
International Economics and Economic Policy : Volume 5
International Economics and Economic Policy : Volume 4
International Economics and Economic Policy : Volume 4, Issue 4, February 2008
International Economics and Economic Policy : Volume 4, Issue 3, November 2007
Age-period-cohort decomposition of social security taxes and benefits in the USA and Japan
European integration: the third step
The Swedish external position and the krona
Is reversion to PPP in euro exchange rates non-linear?
Nominal and real wage flexibility in EMU
International Economics and Economic Policy : Volume 4, Issue 2, August 2007
International Economics and Economic Policy : Volume 4, Issue 1, April 2007
International Economics and Economic Policy : Volume 3
International Economics and Economic Policy : Volume 2
International Economics and Economic Policy : Volume 1

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European integration: the third step

Content Provider Springer Nature Link
Author Bowen, Harry P. Sleuwaegen, Leo
Copyright Year 2007
Abstract A perception of declining EU competitiveness has intensified calls for structural reforms within the EU. This paper examines recent evidence on changes in relative EU competitiveness and considers the observed changes in relation to the evolving competitive environment facing EU firms. Our analysis suggests that recent declines in EU competitiveness reflect changes (or lack thereof) within the EU in response to an evolutionary “Third Step” in the process of EU integration: global market integration. Starting from the mid-1990s, we find that the EU began to face unprecedented increases in external sources of competition. The rising competition from external sources and declining export market competitiveness created pressures for EU firms to alter their organizational and product market strategies to meet the challenge of a globally integrating market. While many leading EU firms have responded to this challenge, most EU firms remain hampered by anachronistic EU product and labor market regulations that have inhibited adjustments that could better restore the competitiveness of EU based firms. In particular, our analysis points to labor market rigidities and limited growth in the services sector as factors limiting adjustment to the realities of a global market. The growing calls for structural reforms therefore reflect the rising external competitive pressures on EU firms as they attempt to respond to growing global competition.
Starting Page 241
Ending Page 262
Page Count 22
File Format PDF
ISSN 16124804
Journal International Economics and Economic Policy
Volume Number 4
Issue Number 3
e-ISSN 16124812
Language English
Publisher Springer-Verlag
Publisher Date 2007-10-25
Publisher Place Berlin, Heidelberg
Access Restriction One Nation One Subscription (ONOS)
Subject Keyword Competitiveness European integration Foreign competition Globalization Macroeconomics/Monetary Economics Economic Policy International Economics
Content Type Text
Resource Type Article
Subject Economics and Econometrics
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