The Role of CESEE Countries
Edited by Marek Belka, Ewald Nowotny, Pawel Samecki and Doris Ritzberger-Grünwald
In the global financial crisis, competitiveness gaps between Euro area countries caused additional strain. This book discusses the various dimensions of competitiveness, with a special focus on Central, Eastern and Southeastern Europe. With products becoming ever more technically sophisticated and global interconnectedness on a relentless rise, quality, customer orientation and participation in production networks are as important as relative costs and prices. For Europe to proceed with convergence and to resist global competitive pressures, policies to boost productivity and innovation are therefore vital.
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Chapter 10: Labour market integration and associated issues: Kipling is wrong
Eleven Central, Eastern and South-Eastern European (CESEE) countries have joined the European Union (EU). Five later adopted the euro. Most of the 11, and particularly its largest, Poland, have witnessed reasonably robust economic growth. Wage gaps against non-CESEE EU countries have narrowed. Yet as a whole the euro zone, despite a large employment gain by Germany with its large immigration and increased external competitiveness, lost 5 million jobs in total between 2008 and 2014. In the rest of the EU, overall employment rose. The variance of intra-euro zone unemployment rates exploded. The adverse developments in the euro zone’s beleaguered southern countries warn against both fiscal integration and, at times of strain, unrestricted intra-EU capital movements.
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