DOCSLIB.ORG

The EU's Management of the Euro Crisis

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The EU's Management of the Euro Crisis ADVERTIMENT. Lʼaccés als continguts dʼaquesta tesi doctoral i la seva utilització ha de respectar els drets de la persona autora. Pot ser utilitzada per a consulta o estudi personal, així com en activitats o materials dʼinvestigació i docència en els termes establerts a lʼart. 32 del Text Refós de la Llei de Propietat Intel·lectual (RDL 1/1996). Per altres utilitzacions es requereix lʼautorització prèvia i expressa de la persona autora. En qualsevol cas, en la utilització dels seus continguts caldrà indicar de forma clara el nom i cognoms de la persona autora i el títol de la tesi doctoral. No sʼautoritza la seva reproducció o altres formes dʼexplotació efectuades amb finalitats de lucre ni la seva comunicació pública des dʼun lloc aliè al servei TDX. Tampoc sʼautoritza la presentació del seu contingut en una finestra o marc aliè a TDX (framing). Aquesta reserva de drets afecta tant als continguts de la tesi com als seus resums i índexs. ADVERTENCIA. El acceso a los contenidos de esta tesis doctoral y su utilización debe respetar los derechos de la persona autora. Puede ser utilizada para consulta o estudio personal, así como en actividades o materiales de investigación y docencia en los términos establecidos en el art. 32 del Texto Refundido de la Ley de Propiedad Intelectual (RDL 1/1996). Para otros usos se requiere la autorización previa y expresa de la persona autora. En cualquier caso, en la utilización de sus contenidos se deberá indicar de forma clara el nombre y apellidos de la persona autora y el título de la tesis doctoral. No se autoriza su reproducción u otras formas de explotación efectuadas con fines lucrativos ni su comunicación pública desde un sitio ajeno al servicio TDR. Tampoco se autoriza la presentación de su contenido en una ventana o marco ajeno a TDR (framing). Esta reserva de derechos afecta tanto al contenido de la tesis como a sus resúmenes e índices. WARNING. The access to the contents of this doctoral thesis and its use must respect the rights of the author. It can be used for reference or private study, as well as research and learning activities or materials in the terms established by the 32nd article of the Spanish Consolidated Copyright Act (RDL 1/1996). Express and previous authorization of the author is required for any other uses. In any case, when using its content, full name of the author and title of the thesis must be clearly indicated. Reproduction or other forms of for profit use or public communication from outside TDX service is not allowed. Presentation of its content in a window or frame external to TDX (framing) is not authorized either. These rights affect both the content of the thesis and its abstracts and indexes. The EU’s Management of the Euro Crisis: A Discursive Policy Analysis Joan Miró A thesis submitted to the Universitat Autònoma de Barcelona for the degree of Doctor in Philosophy September 2019 Author: Joan Miró PhD programme in Political Science, Public Policies and International Relations Department of Political Science and Public Law Supervisors: Margarita León, Department of Political Science and Public Law, Universitat Autònoma de Barcelona Joan Subirats, Department of Political Science and Public Law, Universitat Autònoma de Barcelona 1 Title of the thesis: The EU’s Management of the Euro Crisis: A Discursive Policy Analysis Author: Joan Miró Artigas PhD programme in Political Science, Public Policies and International Relations Political Science and Public Administration Unit, Department of Political Science and Public Law Supervisors: Margarita León, Department of Political Science and Public Law, Universitat Autònoma de Barcelona Joan Subirats, Department of Political Science and Public Law, Universitat Autònoma de Barcelona 2 “with a cruelty that I’ve never encountered [Joe Biden, US vice president] said that the only way to get the market’s confidence is to take decisions that make you suffer really badly […] that you are credible in a given set of circumstances if you subject your citizens to difficult tests and if unions openly reject your policies – in brief, if there are tears and suffering” (Rodríguez Zapatero 2013: 102) 3 Table of Contents Agraïments .................................................................................................................................... 6 Abstract ......................................................................................................................................... 8 List of abbreviations ...................................................................................................................... 9 CHAPTER 1. INTRODUCTION ................................................................................................... 10 1.1 The context ........................................................................................................................ 10 1.2 On paradigms of European monetary integration and crisis construals ........................... 20 1.2.1 Two paradigms of European economic and monetary integration............................. 20 1.2.2 Two diagnoses regarding the euro crisis ................................................................... 22 1.2.3 The new European Economic Governance ............................................................... 24 1.2.4 The ‘forgotten’ alternative reform paths ..................................................................... 28 1.3 The research problem ....................................................................................................... 29 1.4 The literature and the argument: the discursive is crucial ................................................. 32 1.4.1 The role of economic constraints ............................................................................... 32 1.4.2 The force of institutional path-dependencies ............................................................. 36 1.4.3 The power of economic and political interests ........................................................... 38 1.4.4 The role of ideas and discourse ................................................................................. 42 1.5 The research questions and aims ..................................................................................... 49 1.6 The structure of the thesis ................................................................................................. 49 CHAPTER 2. THE ANALYTICAL FRAMEWORKS OF THE THESIS: DISCURSIVE APPROACHES TO POLICY ANALYSIS .................................................................................... 51 2.1 Introduction: policy analysis and Discourse Studies ......................................................... 51 2.2 Comparing analytical approaches ..................................................................................... 57 2.3 The ideational scholarship in political economy ................................................................ 59 2.4 Discursive institutionalism ................................................................................................. 62 2.5 Poststructuralist Discourse Theory ................................................................................... 64 2.6 The interpretive approach to governance ......................................................................... 70 CHAPTER 3. THE METHODOLOGY AND METHODS OF THE THESIS ................................. 73 3.1 Introduction ........................................................................................................................ 73 3.2 The logics approach as a methodological background ..................................................... 73 3.3 Content analysis ................................................................................................................ 76 3.4 Elite interviews and elite surveys ...................................................................................... 77 3.5 The case study approach: a specific focus on the legitimation of austerity in the EMU’s periphery .................................................................................................................................. 78 CHAPTER 4. ARTICLE I: ‘BEYOND POPULISM AND INSTITUTIONALISM: ANTI-POPULISM AND THE MANAGEMENT OF AUSTERITY IN SPAIN’ ............................................................. 81 CHAPTER 5. ARTICLE II: ‘ABOLISHING POLITICS IN THE SHADOW OF AUSTERITY? ASSESSING THE (DE)POLITICIZATION OF BUDGETARY POLICY IN CRISIS-RIDDEN SPAIN (2008-2015)’ .................................................................................................................... 82 4 CHAPTER 6. ARTICLE III: ‘IN THE NAME OF COMPETITIVENESS: A DISCURSIVE INSTITUTIONALIST ANALYSIS OF THE EU’S APPROACH TO LABOUR MARKET STRUCTURAL REFORM, 2007-2016’ ....................................................................................... 83 CHAPTER 7. ARTICLE IV: ‘AUSTERITY’S FAILURES AND POLICY LEARNING: MAPPING EUROPEAN COMMISSION OFFICIALS’ BELIEFS ON FISCAL GOVERNANCE IN THE POST- CRISIS EU’ .................................................................................................................................. 84 CHAPTER 8: CONCLUSIONS .................................................................................................... 85 8.1 Contributions ..................................................................................................................... 85 8.2 Limitations and possibilities of future research ................................................................. 87 8.3
Load more

Recommended publications
  • The Future of Europe the Eurozone and the Next Recession Content
    April 2019 Chief Investment Office GWM Investment Research The future of Europe The Eurozone and the next recession Content 03 Editorial Publication details This report has been prepared by UBS AG and UBS Switzerland AG. Chapter 1: Business cycle Please see important disclaimer and 05 Cyclical position disclosures at the end of the document. 08 Imbalances This report was published on April 9 2019 10 Emerging markets Authors Ricardo Garcia (Editor in chief) Chapter 2: Policy space Jens Anderson Michael Bolliger 14 Institutional framework Kiran Ganesh Matteo Ramenghi 16 Fiscal space Roberto Scholtes Fabio Trussardi 19 Monetary space Dean Turner Thomas Veraguth Thomas Wacker Chapter 3: Impact Contributors Paul Donovan 23 Bond markets Elisabetta Ferrara Tom Flury 26 Banks Bert Jansen Claudia Panseri 29 Euro Achim Peijan Louis Pfau Giovanni Staunovo Themis Themistocleous Appendix Desktop Publishing 32 The evolution of the EU: A timeline Margrit Oppliger 33 Europe in numbers Cover photo 34 2020–2025 stress-test scenario assumptions Gettyimages Printer Neidhart + Schön, Zurich Languages English, German and Italian Contact [email protected] Order or subscribe UBS clients can subscribe to the print version of The future of Europe via their client advisor or the Printed & Branded Products Mailbox: [email protected] Electronic subscription is also available via the Investment Views on the UBS e-banking platform. 2 April 2019 – The future of Europe Editorial “Whatever it takes.” These words of Mario Draghi’s marked the inflection point in the last recession and paved the way to the present economic recovery. But as the euro celebrates its 20th birthday, the world and investors are beset again by recessionary fears, with risks mounting and likely to continue doing so in the coming years.
    [Show full text]
  • Working Paper Series Demosthenes Ioannou, Jean-François Jamet and Spillovers and Euroscepticism Johannes Kleibl
    Working Paper Series Demosthenes Ioannou, Jean-François Jamet and Spillovers and Euroscepticism Johannes Kleibl No 1815 / June 2015 Note: This Working Paper should not be reported as representing the views of the European Central Bank (ECB). The views expressed are those of the authors and do not necessarily reflect those of the ECB ABSTRACT: During the crisis, support for the EU has declined noticeably in many European Union member states. While previous research on European public opinion has mainly focused on the impact of domestic country- and individual-level factors on public attitudes towards the EU, this paper argues that developments in other EU member states can also have a significant impact on domestic euroscepticism. Specifically, deteriorating economic and fiscal conditions in other member states can lead to concerns in domestic publics about possible negative spillovers on the domestic economy and the ability of the EU to deliver positive economic outcomes. This in turn may lead to rising euroscepticism at the domestic level. The analysis of a panel data set for the EU as a whole and the euro area countries lends support to these arguments by showing that higher unemployment rates and government debt levels in other European countries are systematically related to lower levels of trust in the EU domestically. KEYWORDS: European Union, Euroscepticism, Spillovers, Debt, Unemployment. JEL CLASSIFICATION: D72 (Political Processes), E02 (Institutions and the Macroeconomy), F15 (Economic Integration), H63 (Debt), J64 (Unemployment). ECB Working Paper 1815, June 2015 1 Non-Technical Summary The financial and economic crisis has led to a notable rise in euroscepticism in many European Union member states.
    [Show full text]
  • Corona: EU's Existential Crisis
    APRIL 2020 Corona: EU’s existential crisis Alert Clingendael Why the lack of solidarity threatens not only the Union’s health and economy, but also its security Bob Deen & Kimberley Kruijver & Kimberley Deen Bob Source: Shutterstock Introduction When European Union leaders met on Similarly, these days national governments Thursday 26 March via a videoconference and EU institutions are pledging to do to discuss their common response to the “whatever it takes”, while both their initial coronavirus outbreak in Europe, the pressure and later actions did not show much was on to show that the EU could act in solidarity towards one another. On top of unison to manage this unprecedented crisis. that, various EU senior officials issued dire During the previous two calamities – the warnings that “the germ of division”1 or 2010 European debt crisis and the 2015 migration crisis – EU member states vowed to work together and make sure that the Union emerges stronger. But in reality they 1 Aris Oikonomou, ‘Epidemic infects Europe gradually drifted further apart by the rise with ‘germ of division’’, Agence France-Presse, of nationalism and populism that followed. 28 March 2020. Clingendael Alert “the lack of ‘all for one spirit’”2 threaten the health crisis in a tailored manner suited to existence of the European project itself. their own specific situation and the state of To the outside, these statements portray an the outbreak. But that does not mean the unsettling image of disarray. Although most EU could not play a more prominent role in attention has so far been paid to the public promoting intergovernmental co-operation health and economic havoc wrought by and in co-ordinating matters such as border COVID-19, it also poses threats to the social policies, research efforts and the production cohesion and security of the EU itself.
    [Show full text]
  • EFSF/ESM Financial Assistance
    Independent Evaluator appointed by the ESM Board of Governors EFSF/ESM Financial Assistance Evaluation Report Evaluation Report EFSF/ESM Evaluation — Financial Assistance Financial — Photo credits: front cover (illustration), © AF-Studio/Getty Images; page 3, © European Central Bank print ISBN 978-92-95085-31-2 doi:10.2852/187211 DW-06-16-055-EN-C PDF ISBN 978-92-95085-32-9 doi:10.2852/667170 DW-06-16-055-EN-N More information on the European Stability Mechanism is available on the Internet (http://www.esm.europa.eu) Luxembourg: Publications Office of the European Union, 2017 © European Stability Mechanism, 2017 Reproduction is authorised provided the source is acknowledged. Printed in Luxembourg Printed on white chlorine-free paper Evaluation of EFSF and ESM financial assistance | June 2017 Contents Foreword ���������������������������������������������������������������������������������������������������������������������������������������������� 3 Executive summary ���������������������������������������������������������������������������������������������������������������������������� 5 Main findings ���������������������������������������������������������������������������������������������������������������������������� 5 Recommendations ������������������������������������������������������������������������������������������������������������������� 7 1. Introduction ������������������������������������������������������������������������������������������������������������������������������������� 9 1�1� Purpose and scope
    [Show full text]
  • A Decade of Crisis in the European Union: Lessons from Greece
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Katsanidou, Alexia; Lefkofridi, Zoe Article — Published Version A Decade of Crisis in the European Union: Lessons from Greece JCMS: Journal of Common Market Studies Provided in Cooperation with: John Wiley & Sons Suggested Citation: Katsanidou, Alexia; Lefkofridi, Zoe (2020) : A Decade of Crisis in the European Union: Lessons from Greece, JCMS: Journal of Common Market Studies, ISSN 1468-5965, Wiley, Hoboken, NJ, Vol. 58, pp. 160-172, http://dx.doi.org/10.1111/jcms.13070 This Version is available at: http://hdl.handle.net/10419/230239 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. http://creativecommons.org/licenses/by-nc/4.0/ www.econstor.eu JCMS 2020 Volume 58.
    [Show full text]
  • The Euro Exchange Rate During the European Sovereign Debt Crisis Dancing to Its Own Tune?  Michael Ehrmann, Chiara Osbat, Jan Strasky and Lenno Uusküla
    WORKING PAPER SERIES NO 1532 / APRIL 2013 THE EURO EXCHANGE RATE DURING THE EUROPEAN SOVEREIGN DEBT CRISIS DANCING TO ITS OWN TUNE? Michael Ehrmann, Chiara Osbat, Jan Strasky and Lenno Uusküla In 2013 all ECB publications feature a motif taken from the €5 banknote. NOTE: This Working Paper should not be reported as representing the views of the European Central Bank (ECB). The views expressed are those of the authors and do not necessarily reflect those of the ECB. Acknowledgements This paper presents the authors’ personal opinions and does not necessarily reflect the views of the European Central Bank, the Bank of Estonia, the Eurosystem or the OECD. We thank Paolo Gambetti for research assistance, the editorial board and an anonymous referee of the ECB Working Paper Series as well as participants at seminars at the ECB, the Bank of Estonia, and a workshop at the Bank of Italy for useful comments. Michael Ehrmann European Central Bank; e-mail: [email protected] Chiara Osbat European Central Bank; e-mail: [email protected] Jan Strasky Organisation for Economic Co-operation and Development; e-mail: [email protected] Lenno Uusküla Bank of Estonia; e-mail: [email protected] Lamfalussy Fellowships This paper has been produced under the ECB Lamfalussy Fellowship programme. This programme was launched in 2003 in the context of the ECB-CFS Research Network on “Capital Markets and Financial Integration in Europe”. It aims at stimulating high-quality research on the structure, integration and performance of the European financial system. The Fellowship programme is named after Baron Alexandre Lamfalussy, the first President of the European Monetary Institute.
    [Show full text]
  • Evaluation of EFSF and ESM Financial Assistance: Technical Appendices
    Evaluation of EFSF and ESM financial assistance: Technical Appendices 15 June 2017 Contents Summary ��������������������������������������������������������������������������������������������������������������������������� 3 A� Terms of Reference ������������������������������������������������������������������������������������������������������ 4 B� Methodology ��������������������������������������������������������������������������������������������������������������� 17 1. Organising the evaluation ........................................................................... 17 2. Evaluation strategy ...................................................................................... 22 3. Components of the evaluation ................................................................... 24 3.1 Collection of evaluation data ............................................................. 24 3.2 Desk studies ........................................................................................ 26 3.3 Analysis strategy for interviews and surveys .................................. 35 4. Conclusion .................................................................................................... 38 Sources ......................................................................................................... 39 C� Intervention logic ������������������������������������������������������������������������������������������������������� 40 D� Vulnerability analysis ������������������������������������������������������������������������������������������������
    [Show full text]
  • Inflation and Debt
    Inflation and Debt John H. Cochrane or several years, a heated debate has raged among economists Fand policymakers about whether we face a serious risk of inflation. That debate has focused largely on the Federal Reserve — especially on whether the Fed has been too aggressive in increasing the money supply, whether it has kept interest rates too low, and whether it can be relied on to reverse course if signs of inflation emerge. But these questions miss a grave danger. As a result of the federal government’s enormous debt and deficits, substantial inflation could break out in America in the next few years. If people become convinced that our government will end up printing money to cover intractable deficits, they will see inflation in the future and so will try to get rid of dollars today — driving up the prices of goods, services, and eventually wages across the entire economy. This would amount to a “run” on the dollar. As with a bank run, we would not be able to tell ahead of time when such an event would occur. But our economy will be primed for it as long as our fiscal trajectory is unsustainable. Needless to say, such a run would unleash financial chaos and re- newed recession. It would yield stagflation, not the inflation-fueled boomlet that some economists hope for. And there would be essentially nothing the Federal Reserve could do to stop it. This concern, detailed below, is hardly conventional wisdom. Many economists and commentators do not think it makes sense to worry about inflation right now.
    [Show full text]
  • The Euro Area Sovereign Debt Crisis: Safe Haven, Credit Rating Agencies
    WORKING PAPER SERIES NO 1419 / FEBRUARY 2012 THE EURO AREA SOVEREIGN DEBT CRISIS SAFE HAVEN, CREDIT RATING AGENCIES AND THE SPREAD OF THE FEVER FROM GREECE, IRELAND AND PORTUGAL by Roberto A. De Santis MACROPRUDENTIAL RESEARCH NETWORK In 2012 all ECB publications feature a motif taken from the €50 banknote. NOTE: This Working Paper should not be reported as representing the views of the European Central Bank (ECB). The views expressed are those of the authors and do not necessarily refl ect those of the ECB. Macroprudential Research Network This paper presents research conducted within the Macroprudential Research Network (MaRs). The network is composed of econo- mists from the European System of Central Banks (ESCB), i.e. the 27 national central banks of the European Union (EU) and the Euro- pean Central Bank. The objective of MaRs is to develop core conceptual frameworks, models and/or tools supporting macro-prudential supervision in the EU. The research is carried out in three work streams: 1) Macro-fi nancial models linking fi nancial stability and the performance of the economy; 2) Early warning systems and systemic risk indicators; 3) Assessing contagion risks. MaRs is chaired by Philipp Hartmann (ECB). Paolo Angelini (Banca d’Italia), Laurent Clerc (Banque de France), Carsten Detken (ECB) and Katerina Šmídková (Czech National Bank) are workstream coordinators. Xavier Freixas (Universitat Pompeu Fabra) acts as external consultant and Angela Maddaloni (ECB) as Secretary. The refereeing process of this paper has been coordinated by a team composed of Cornelia Holthausen, Kalin Nikolov and Bernd Schwaab (all ECB). The paper is released in order to make the research of MaRs generally available, in preliminary form, to encourage comments and sug- gestions prior to fi nal publication.
    [Show full text]
  • The Impact of the Euro Crisis on Switzerland
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Simon, Silvia; Hausner, Karl Heinz Article — Published Version The impact of the Euro crisis on Switzerland Intereconomics Suggested Citation: Simon, Silvia; Hausner, Karl Heinz (2012) : The impact of the Euro crisis on Switzerland, Intereconomics, ISSN 1613-964X, Springer, Heidelberg, Vol. 47, Iss. 2, pp. 112-119, http://dx.doi.org/10.1007/s10272-012-0411-1 This Version is available at: http://hdl.handle.net/10419/98238 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu DOI: 10.1007/s10272-012-0411-1 Swiss Economy Silvia Simon* and Karl Heinz Hausner** The Impact of the Euro Crisis on Switzerland The euro area crisis is the main external factor threatening the Swiss economy.
    [Show full text]
  • Europe's Debt Crisis, Coordination Failure, and International Effects
    ADBI Working Paper Series Europe’s Debt Crisis, Coordination Failure, and International Effects Stefan Collignon No. 370 July 2012 Asian Development Bank Institute Stefan Collignon is a professor for economic policy, Sant’Anna School of Advanced Studies, Pisa, Italy. An earlier version of this paper was presented at the Asian Development Bank Institute (ADBI) Annual Conference on Reform of the International Monetary System held in Tokyo on 2 December 2011. The views expressed in this paper are the views of the author and do not necessarily reflect the views or policies of ADBI, the ADB, its Board of Directors, or the governments they represent. ADBI does not guarantee the accuracy of the data included in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with ADB official terms. The Working Paper series is a continuation of the formerly named Discussion Paper series; the numbering of the papers continued without interruption or change. ADBI’s working papers reflect initial ideas on a topic and are posted online for discussion. ADBI encourages readers to post their comments on the main page for each working paper (given in the citation below). Some working papers may develop into other forms of publication. Suggested citation: Collignon, S. 2012. Europe’s Debt Crisis, Coordination Failure, and International Effects. ADBI Working Paper 370. Tokyo: Asian Development Bank Institute. Available: http://www.adbi.org/working-paper/2012/07/11/5141.europe.debt.crisis.effects/ Please contact the author for information about this paper. Email: [email protected] Asian Development Bank Institute Kasumigaseki Building 8F 3-2-5 Kasumigaseki, Chiyoda-ku Tokyo 100-6008, Japan Tel: +81-3-3593-5500 Fax: +81-3-3593-5571 URL: www.adbi.org E-mail: [email protected] © 2012 Asian Development Bank Institute ADBI Working Paper 370 Collignon Abstract This paper gives an overview of the causes of the European debt crisis and the consequences for the external relations.
    [Show full text]
  • Cointegration Between the European Union and the Selected Global Markets Following Sovereign Debt Crisis”
    “Cointegration between the European Union and the selected global markets following Sovereign Debt Crisis” Anna Golab https://orcid.org/0000-0001-6827-5252 Ferry Jie https://orcid.org/0000-0002-6287-8471 AUTHORS Robert Powell https://orcid.org/0000-0003-3634-1264 Anna Zamojska https://orcid.org/0000-0002-3248-1596 Anna Golab, Ferry Jie, Robert Powell and Anna Zamojska (2018). Cointegration ARTICLE INFO between the European Union and the selected global markets following Sovereign Debt Crisis. Investment Management and Financial Innovations, 15(1), 35-45. doi:10.21511/imfi.15(1).2018.05 DOI http://dx.doi.org/10.21511/imfi.15(1).2018.05 RELEASED ON Wednesday, 17 January 2018 RECEIVED ON Monday, 03 July 2017 ACCEPTED ON Wednesday, 13 December 2017 LICENSE This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License JOURNAL "Investment Management and Financial Innovations" ISSN PRINT 1810-4967 ISSN ONLINE 1812-9358 PUBLISHER LLC “Consulting Publishing Company “Business Perspectives” FOUNDER LLC “Consulting Publishing Company “Business Perspectives” NUMBER OF REFERENCES NUMBER OF FIGURES NUMBER OF TABLES 43 1 6 © The author(s) 2021. This publication is an open access article. businessperspectives.org Investment Management and Financial Innovations, Volume 15, Issue 1, 2018 Anna Golab (Australia), Ferry Jie (Australia), Robert Powell (Australia), Anna Zamojska (Poland) Cointegration between BUSINESS PERSPECTIVES the European Union and the selected global markets following LLC “СPС “Business Perspectives” Sovereign Debt Crisis Hryhorii Skovoroda lane, 10, Sumy, 40022, Ukraine Abstract www.businessperspectives.org The purpose of this paper is to provide an analytical analysis of cointegration between Europe and the other significant trading partners, namely US, China, Japan and Australia, for the period from January 1, 2010 to December 30, 2016.
    [Show full text]