The EU’s Role in Fighting Global Imbalances

The EU’s Role in Fighting Global Imbalances

Edited by Antonina Bakardjieva Engelbrekt, Moa Mårtensson, Lars Oxelheim and Thomas Persson

The EU’s Role in Fighting Global Imbalances looks at the role of the European Union in addressing some of the greatest challenges of our time: poverty, protectionism, climate change, and human trafficking. Contributions from ten leading scholars in the fields of economics, law, and political science provide in-depth analyses of three key dimensions of EU foreign policy, namely: the internal challenges facing the EU, as its 28 member countries struggle to coordinate their actions; the external challenges facing the EU on the global arena, in areas where global imbalances are particularly pervasive, and where measures taken by the Union can have an important impact; and the EU´s performance on the global arena, in the eyes of other key actors. Based on a broad and interdisciplinary understanding of the concept of global imbalances, this book argues that these challenges follow from pervasive global imbalances, which at root are economic, political, and legal in character.

Chapter 4: Superentrepreneurship and global imbalances: closing Europe’s gap to other industrialized regions

Magnus Henrekson and Tino Sanandaji

Subjects: politics and public policy, european politics and policy, public policy


Entrepreneurs perform a central function in today’s decentralized market economies by innovating and exploring new ways to organize factors of production. They are consequently widely believed to play an important role in economic growth. The attention afforded to entrepreneurship by policy-makers and academics is also rooted in historical experience, as each wave of innovation since the eve of industrialization has been associated with entrepreneurs such as James Watt, Andrew Carnegie, Henry Ford, Sam Walton and Bill Gates. Entrepreneurs have more recently been linked to firm performance using careful causal methods (Becker and Hvide, 2013). Entrepreneurship theory is concerned with understanding the innovative process and with identifying policies that foster the creation of rapidly growing firms (Baumol, 2002). The dominant view of entrepreneurship in the literature is arguably the Schumpeterian definition of the entrepreneur as an innovator and as a driver of growth (Hébert and Link, 2006; Henrekson and Roine, 2007).

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