The Continuing Evolution of Europe

The Continuing Evolution of Europe

Thiess Buettner and Wolfgang Ochel

Print publication date: 2013

ISBN: 9780262017015

Publisher: The MIT Press

Abstract

The European Union began with efforts in the Cold War era to foster economic integration among a few Western European countries. Today’s EU constitutes an upper tier of government that affects almost every level of policymaking in each of its twenty-seven member states. The recent financial and economic crises have tested this still-evolving institutional framework, and this book surveys key economic challenges faced by the EU. European economists examine such topics as the stability of the financial markets and possible policy options to reduce future vulnerability to crises, including Glass–Steagull-style narrow banking; the effect of emerging economies such as China and India on Europe’s economic position; the protection of national interests in industrial policy; reforming and preserving the welfare state in the face of unemployment, population aging, and worker mobility within the EU; and improving the EU’s institutional framework by reassigning responsibilities among supranational, national, and local governments. Among the conclusions that emerge from these analyses are the necessity for banking regulation as well as budgetary discipline; the need to consider global as well as European integration; and the idea that an environment which fosters internal competition will increase Europe’s competitiveness internationally.

Table of Contents

2 Financial Market Regulation in Europe

Paul De Grauwe, and Frank Westermann

4 Do We Need National or European Champions?

Christian Gollier, and Ludger Woessmann

5 Reforming the European Welfare State

Martin Werding, and Kai A. Konrad

6 Europe at a Crossroads: Reforming Political Institutions and Public Sectors

Massimo Bordignon, Thiess Buettner, and Frederick van der Ploeg

End Matter