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In the global financial crisis, competitiveness gaps between Euro area countries caused additional strain. This book discusses the various dimensions of competitiveness, with a special focus on emerging Central, Eastern and Southeastern European countries. For Europe to proceed with convergence and to resist global competitive pressures, it argues that policies to boost productivity and innovation are vital. With products becoming ever more technically sophisticated and global interconnectedness on a relentless rise, it also demonstrates that quality, customer orientation and participation in global production networks and global value chains are at least as important as relative costs and prices. This book delves into the literature and dissects the complexity of competitiveness, aiming to offer tangible policy advice focussed on how well the European economy is performing and how it could improve. The key findings of the book, from a mix of academics and policymakers, constitute a state-of-the-art assessment of competitiveness that may change traditional perceptions of how economies can return to a path of sustainable growth. Comprehensive and forward-looking, this enlightening book will appeal to academics, researchers and policymakers with a particular interest in European economies and economic integration.Contributors include: D. Andrews, B.B. Bakker, I. Begg, M. Belka, K. Benkovskis, Z. Darvas, A. de Serres, M. Gradzewicz, D. Hanzl-Weiss, B.S. Javorcik, A. Kosior, K. Krogulski, M. Landesmann, E. Nowotny, B. Pinto, D. Ritzberger Grünwald, M. Rubaszek, P. Samecki, M. Silgoner, P. Sinclair, K. Vondra, B. Vujcic, J. Wörz, L. Yueh
Edited by Marek Belka, President, Narodowy Bank Polski, Poland, Ewald Nowotny, former Governor, Oesterreichische Nationalbank, Austria, Pawel Samecki, Management Board Member, Narodowy Bank Polski, Poland and Doris Ritzberger-Grünwald, Director, Oesterreichische Nationalbank, Austria
Contents:PART IFRAMING THE DISCUSSION ON THE COMPETITIVENESS CHALLENGE1. Boosting European Competitiveness Marek Belka, Ewald Nowotny, Doris Ritzberger-Grünwald and Pawel Samecki2. Harnessing Foreign Direct Investment to Boost Economic GrowthBeata S. Javorcik3. Correcting External Imbalances in the European EconomyDoris Hanzl-Weiss and Michael LandesmannPART IITHE VARIOUS DIMENSIONS OF COMPETITIVENESS4. New Indicators of Competitiveness – The Austrian PerspectiveDoris Ritzberger-Grünwald, Maria Silgoner and Klaus Vondra5. Globalisation and Growth: The Case of ChinaLinda Yueh6. Non-price Components of Market Share Gains – Evidence for EU CountriesKonstantins Benkovskis and Julia WörzPART IIIEU STRUCTURAL POLICIES7. EU Economic Governance: Euro Area Periphery Lessons for Central and Eastern European CountriesZsolt Darvas8. EU Structural Policies Today: Missing Piece of the Growth Puzzle, or Wishful Thinking?Brian Pinto9. EU Structural Policies and Euro Adoption in CEE CountriesAnna Kosior and Michał RubaszekPART IVLABOUR MARKET AND PRODUCTIVITY DEVELOPMENTS10. Labour Market Integration and Associated Issues: Kipling is WrongPeter Sinclair11. Do Jobs Created in CEE Countries Result in Higher Productivity?Michał Gradzewicz12. Productivity and Competitiveness in CESEE Countries: A Look at the Key Structural DriversDan Andrews and Alain de SerresPART VCESEE’S CONTRIBUTION TO GROWTH IN THE EURO AREA AND EUROPE13. Convergence of ‘New’ EU Member States: Past, Present and FutureBas B. Bakker and Krzysztof Krogulski14. EU and CEE: Productivity and ConvergenceBoris Vujčić15. Peering into the Crystal Ball: Can the CESEE Countries be an Engine of Growth for the EU?Iain BeggIndex