Internationalization and Economic Growth: The Comparison of European Economies

2013 ◽  
Author(s):  
Ina Lejko ◽  
Štefan Bojnec
Keyword(s):  
Economic Growth ◽  
European Economies

scholarly journals The Impact of Economic Freedom on Economic Growth? New European Dynamic Panel Evidence

2020 ◽  
Vol 13 (2) ◽  
pp. 26
Author(s):  
Ivana Brkić ◽  
Nikola Gradojević ◽  
Svetlana Ignjatijević
Keyword(s):  
Economic Growth ◽  
Economic Freedom ◽  
Negative Impact ◽  
Developed Countries ◽  
Dynamic Panel ◽  
Heritage Foundation ◽  
Eu Membership ◽  
Time Period ◽  
European Economies ◽  
The Impact

This paper analyzes the impact of economic freedom along with traditional economic factors on economic growth for a panel of European countries. The growth of the gross domestic product was observed over a twenty-year time period on a sample of 43 developing and developed countries. Based on a robust dynamic panel setting, we conclude that increases in economic freedom as expressed by the Index of Economic Freedom/Heritage Foundation (but not its levels) are related to economic growth. The EU membership status either had no effect or it curbed the effect of the economic freedom on growth. We also find that the subprime economic crisis of 2008–2009 exerted a negative impact on the growth of European economies.

scholarly journals From Convergence to Divergence: Portuguese Economic Growth, 1527–1850

2019 ◽  
Vol 79 (2) ◽  
pp. 477-506 ◽  
Author(s):  
Nuno Palma ◽  
Jaime Reis
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Eighteenth Century ◽  
Economic Decline ◽  
Upward Trend ◽  
Per Capita Gdp ◽  
Per Capita ◽  
European Standards ◽  
European Economies ◽  
First Time

We construct the first time-series for Portugal’s per capita GDP for 1527–1850, drawing on a new database. Starting in the early 1630s there was a highly persistent upward trend which accelerated after 1710 and peaked 40 years later. At that point, per capita income was high by European standards, though behind the most advanced Western European economies. But as the second half of the eighteenth century unfolded, a phase of economic decline was initiated. This continued into the nineteenth century, and by 1850 per capita incomes were not different from what they had been in the early 1530s.

Financial depth and economic growth - the case of Hungary, the Czech Republic and Poland

2004 ◽  
Vol 54 (3) ◽  
pp. 297-321
Author(s):  
Katalin Mérő
Keyword(s):  
Economic Growth ◽  
Czech Republic ◽  
Financial Intermediation ◽  
Bank Loans ◽  
Eastern European ◽  
Financial Deepening ◽  
The Czech Republic ◽  
Catching Up ◽  
European Economies ◽  
The Relationship

The article focuses on the relationship between economic growth and financial intermediation, with special focus on the process of catching up in three Central and Eastern European economies: Hungary, the Czech Republic and Poland (CEC-3). The depth of financial intermediation and economic growth exhibit a close, direct relationship with each other. According to recent studies the relationship is causal and the level of financial development is a good indicator of future economic growth. Examining the relationship between the two factors is especially important for these Central and Eastern European economies, where the level of financial intermediation is very low compared to that of developed countries. The lack of financial deepening is even more pronounced taking into consideration that there is a significant catching-up process in every other areas of the economy. The initial proposition here is that in order to these countries catching up, their economic growth must necessarily be accompanied by a marked financial deepening, without which long-term economic growth is impossible. It is absolutely necessary that in the future the role of bank loans in these economies increases significantly and that a period characterised by a lending boom follows. The lending boom should occur in CEC-3 is not an unequivocal sign of imprudent lending or a supply-side expansion of bank loans - on the contrary, it should be viewed as complementary to the economic development at the given economic stage.

scholarly journals Economic Development Path of Poland: Innovation and Competitiveness in Light of the Situation of Southern European Countries

2014 ◽  
Vol 40 (1) ◽  
pp. 119-140
Author(s):  
Konrad Kubacki ◽  
Agnieszka Słuszniak
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Innovation System ◽  
Business Environment ◽  
European Countries ◽  
Middle Income ◽  
Development Path ◽  
Future Economic Development ◽  
European Economies ◽  
Southern European Countries

Abstract The financial crisis of 2007 revealed structural weaknesses in many European countries, particularly in Southern Europe. The goal of this article is to identify the existing economic situation in the four main Southern European countries: Greece, Italy, Portugal, and Spain (GIPS), and in Poland, conduct a comparative analysis of the development paths and competitiveness levels of these countries using statistical data as well as existing scientific literature, and finally to formulate suggestions for a new development path of Poland. The results of the analysis suggest that Poland's development is currently on a turning point, portraying many similarities to Southern European economies after their EU accession, as well as before the crisis. The authors come to a conclusion that unless Poland undertakes crucial reforms, particularly in the field of its innovation system, business environment, implementation of EU funds, and overall strategic long-term planning, it is inevitable that its economic growth will slow down, possibly falling into a middle-income trap. Poland might not avoid the same mistakes of GIPS, that failed to implement adequate reforms in times of economic growth, what today results in suffering from serious consequences. T is paper presents a unique view on the future economic development of Poland in relation to the paths already undertaken by Southern European economies.

scholarly journals A EXPANSÃO DOS IMPÉRIOS EUROPEUS: VALEU A PENA?

1999 ◽  
Vol 23 ◽  
Author(s):  
Patrick Karl O’Brien ◽  
Leandro De La Escosura
Keyword(s):  
Economic Growth ◽  
Twentieth Century ◽  
Costs And Benefits ◽  
Political Debate ◽  
Historical Discourse ◽  
Subsequent Period ◽  
European Economies

Este artigo é uma revisão do crescente volume de publicações sobre os custos e benefícios, para as economias européias, de cinco séculos de envolvimento com impérios ultramarinos. Para isso, é dada atenção à tradição do debate político e ao discurso histórico relativos às ‘despesas’ e ‘retornos’ do imperialismo formal. Este artigo se concentra nos custos e benefícios dos impérios para o crescimento de longo prazo de algumas economias européias durante o período de 1815-1914. Também são analisados os períodos subseqüentes de reintegração e descolonização, inaugurada pelas duas guerras mundiais no século XX. Abstract This paper surveys a growing volume of publications with a view to assessing the costs and benefits of five centuries of European involvement with empires overseas. Therefore, attention is paid to the tradition of political debate and to the historical discourse regarding ‘outlays’ and ‘returns’ flowing from formal imperialism. The paper focuses on the costs and benefits of empires for the economic growth of several European economies during 1815-1914. It also analyses the subsequent period of imperial reintegration and decolonization, inaugurated by two world wars in the twentieth century.

Chinese FDI Activity in Europe

2020 ◽  
pp. 1100-1117
Author(s):  
Amir Manzoor
Keyword(s):  
Economic Growth ◽  
Growth Model ◽  
European Countries ◽  
Chinese Investment ◽  
Cross Border ◽  
National Competitiveness ◽  
Potential Risks ◽  
European Economies ◽  
Trade And Investment ◽  
Liberal Policy

Today, China has become one of the major exporters of capital in Europe. It is expected that China's liberal policy and growth model will soon make China a major provider of cross-border investment. This process is expected to have significant impact on host European countries of Chinese investment. Europe needs to change its policies and position itself strategically to not only reap the benefits of this massive influx of Chinese investment but also minimize potential risks that European countries face due to their historical linkages with China for trade and investment. The objective of this chapter is to review Chinese FDI in Europe to identify its impact on Europe's economy and suggest some measures for European economies to optimize the benefits of Chinese FDI for their national competitiveness and economic growth.

scholarly journals UK INTERREGIONAL INEQUALITY IN A HISTORICAL AND INTERNATIONAL COMPARATIVE CONTEXT

2020 ◽  
Vol 253 ◽  
pp. R4-R17
Author(s):  
Andre Carrascal-Incera ◽  
Philip McCann ◽  
Raquel Ortega-Argilés ◽  
Andrés Rodríguez-Pose
Keyword(s):  
Economic Growth ◽  
International Comparisons ◽  
International Evidence ◽  
Spatial Inequalities ◽  
Interregional Inequality ◽  
National Economic ◽  
International Comparative ◽  
The Uk ◽  
European Economies ◽  
The Relationship

This paper explores the nature and scale of inter-regional and inter-urban inequalities in the UK in the context of international comparisons and our aim is to identify the extent to which such inequalities are associated with strong national economic performance. In order to do this, we first discuss the evolution of UK interregional inequalities relative to comparator European economies over more than a century. We then focus specifically on comparisons between the UK and the reunified Germany. These two exercises demonstrate that the experience of the UK has been rather different to other countries. We further explore UK inter-urban inequalities in the light of international evidence and then explain why observations of cities only tell us a partial story about the nature of interregional inequalities, especially in the case of the UK. Finally, we move onto an OECD-wide analysis of the relationships between economic growth and interregional inequality. What we observe is that any such relationships are very weak, and the only real evidence of a positive relationship is in the post-2008 crisis period, a result which points to differentials in regional resilience rather than inequality-led growth. Moreover, once former transition economies are removed from the sample, the relationship disappears, or if anything becomes slightly negative. As such, the international evidence suggests that the UK’s very high spatial inequalities have hampered, rather than facilitated, national economic growth.

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