Is internal devaluation policy in the EU effective?
This research provides indepth analysis of the causes and outcomes of internal devaluation policy in EU. It is conducted using statistical and econometric tools on a sample of three groups of EU member states: EU new member states, PIIGS, and the rest of the EU (EU-core). The analysis point...
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| Format: | Article |
| Language: | English |
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Faculty of Economics, Belgrade
2016-01-01
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| Series: | Ekonomski Anali |
| Subjects: | |
| Online Access: | http://www.doiserbia.nb.rs/img/doi/0013-3264/2016/0013-32641611029K.pdf |
| _version_ | 1819206328507170816 |
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| author | Kersan-Škabić Ines |
| author_facet | Kersan-Škabić Ines |
| author_sort | Kersan-Škabić Ines |
| collection | DOAJ |
| description | This research provides indepth analysis of the causes and outcomes of
internal devaluation policy in EU. It is conducted using statistical and
econometric tools on a sample of three groups of EU member states: EU new
member states, PIIGS, and the rest of the EU (EU-core). The analysis points
to the key drivers of economic growth in the whole of the EU as being
productivity and investment (and consumption in EU new member states and EU
core members). Unit labour costs are relevant for GDP growth in PIIGS but
with a positive sign, while for the rest of the EU it is not a significant
variable. The policy of internal devaluation is unsuitable for application in
any EU member states, due to individual specificities. The solution is
stronger EU governance that takes the heterogeneity of EU member states into
consideration in the process of creating policies and finding solutions. |
| first_indexed | 2024-12-23T05:05:51Z |
| format | Article |
| id | doaj.art-d032d9d73a124317b1108a0d041e2e09 |
| institution | Directory Open Access Journal |
| issn | 0013-3264 1820-7375 |
| language | English |
| last_indexed | 2024-12-23T05:05:51Z |
| publishDate | 2016-01-01 |
| publisher | Faculty of Economics, Belgrade |
| record_format | Article |
| series | Ekonomski Anali |
| spelling | doaj.art-d032d9d73a124317b1108a0d041e2e092022-12-21T17:59:06ZengFaculty of Economics, BelgradeEkonomski Anali0013-32641820-73752016-01-0161211294610.2298/EKA1611029K0013-32641611029KIs internal devaluation policy in the EU effective?Kersan-Škabić Ines0Juraj Dobrila University of Pula, Faculty of Economics and Tourism “Dr. Mijo Mirković”, Pula, Republic of CroatiaThis research provides indepth analysis of the causes and outcomes of internal devaluation policy in EU. It is conducted using statistical and econometric tools on a sample of three groups of EU member states: EU new member states, PIIGS, and the rest of the EU (EU-core). The analysis points to the key drivers of economic growth in the whole of the EU as being productivity and investment (and consumption in EU new member states and EU core members). Unit labour costs are relevant for GDP growth in PIIGS but with a positive sign, while for the rest of the EU it is not a significant variable. The policy of internal devaluation is unsuitable for application in any EU member states, due to individual specificities. The solution is stronger EU governance that takes the heterogeneity of EU member states into consideration in the process of creating policies and finding solutions.http://www.doiserbia.nb.rs/img/doi/0013-3264/2016/0013-32641611029K.pdfinternal devaluationBalticStatesPIIGSEU governancepaneldata analysis |
| spellingShingle | Kersan-Škabić Ines Is internal devaluation policy in the EU effective? Ekonomski Anali internal devaluation BalticStates PIIGS EU governance paneldata analysis |
| title | Is internal devaluation policy in the EU effective? |
| title_full | Is internal devaluation policy in the EU effective? |
| title_fullStr | Is internal devaluation policy in the EU effective? |
| title_full_unstemmed | Is internal devaluation policy in the EU effective? |
| title_short | Is internal devaluation policy in the EU effective? |
| title_sort | is internal devaluation policy in the eu effective |
| topic | internal devaluation BalticStates PIIGS EU governance paneldata analysis |
| url | http://www.doiserbia.nb.rs/img/doi/0013-3264/2016/0013-32641611029K.pdf |
| work_keys_str_mv | AT kersanskabicines isinternaldevaluationpolicyintheeueffective |