The External Dimension of the European Research Area
Edited by Heiko Prange-Gstöhl
Chapter 5: An ‘Outward-Looking’ Lisbon Strategy: A Solution for Challenges of the Knowledge Economy in the EU, China and India
5. An ‘outward-looking’ Lisbon Strategy: a solution for challenges of the knowledge economy in the EU, China and India1 Suma Athreye, Can Huang and Luc Soete INTRODUCTION: EUROPEAN INTEGRATION AND EMERGENCE OF INDIA AND CHINA IN A GLOBAL SETTING Economically, the last 50 years of European integration have brought about an unparalleled process of economic development, of social transformation and employment creation. Economic development in Europe has been spurred by the opening up of national markets and the harmonization, still incomplete in many sectors, of the European Single Market; by monetary and fiscal convergence with the introduction of the Growth and Stability Pact accompanying the introduction of the Euro; by regional cohesion policies with the transfer of substantial amounts of resources between member states towards less favored regions and countries, and by a series of subsequent enlargements making the European Union (EU) today the largest trading bloc in the world. At the same time though, the last 10–15 years have also been characterized by an unparalleled process of economic growth at the world level, in actual annual growth terms at a substantially higher percentage than that of the EU, and accompanied by a dramatic expansion of world trade and worldwide capital movements. Compared to the enlargement of the EU, the enlargement of the WTO with some of the large BRIC (Brazil, Russia, India and China) countries has had by any measure a much greater impact on worldwide growth or, for that matter, EU growth. As Freeman (2005) put it,...
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.