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Crisis in the European Monetary Union: A Core-Periphery Perspective

Author

Listed:
  • Federico Bassi

    (Dipartimento di Scienze Sociali ed Economiche - UNIROMA - Università degli Studi di Roma "La Sapienza" = Sapienza University [Rome])

  • Cédric Durand

    (CEPN - Centre d'Economie de l'Université Paris Nord - UP13 - Université Paris 13 - USPC - Université Sorbonne Paris Cité - CNRS - Centre National de la Recherche Scientifique)

Abstract
“Crisis in the European Monetary Union: A Core-Periphery Perspective” explains what lies behind the decision of a set of politically, economically and socially heterogeneous countries, having in common a loose geographical proximity, to engage in a process of monetary integration, consisting of fully liberalizing goods and capital movements, establishing supranational authorities in charge of ensuring undistorted competition in a supposedly levelled playing field, and abandoning fiscal, monetary and exchange-rate sovereignty. This process of European-wide globalization reshaped the structural core-peripheries trade and industrial relationships. We assist today to the emergence of a polarized Europe, characterized by an industrial and industrialising core, a less industrialized and de-industrializing south periphery and a rapidly catching-up eastern periphery.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Federico Bassi & Cédric Durand, 2018. "Crisis in the European Monetary Union: A Core-Periphery Perspective," Post-Print hal-02418821, HAL.
    • Handle: RePEc:hal:journl:hal-02418821
    DOI: 10.1007/s40888-018-0094-6
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    References listed on IDEAS

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    1. Palma, Gabriel, 1978. "Dependency: A formal theory of underdevelopment or a methodology for the analysis of concrete situations of underdevelopment?," World Development, Elsevier, vol. 6(7-8), pages 881-924.
    2. Reinert, Erik S., 2004. "How rich nations got rich. Essays in the history of economic policy," MPRA Paper 48147, University Library of Munich, Germany.
    3. Mariana Mazzucato, 2015. "The Green Entrepreneurial State," SPRU Working Paper Series 2015-28, SPRU - Science Policy Research Unit, University of Sussex Business School.
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    Cited by:

    1. Andrea Filippetti & Petros Gkotsis & Antonio Vezzani & Antonio Zinilli, 2020. "Are innovative regions more resilient? Evidence from Europe in 2008–2016," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 37(3), pages 807-832, October.

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    More about this item

    JEL classification:

    • F60 - International Economics - - Economic Impacts of Globalization - - - General
    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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