EMU and the dynamics of regional per capita income inequality in Europe

Bouvet, Florence

doi:10.1007/s10888-010-9129-0

Cited by 58 publications

(57 citation statements)

References 51 publications

(91 reference statements)

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“…The key independent variable is the share of the paid cohesion funds in the GDP, denoted as koh. The control variables are the usual determinants of inequality from the literature (Milanovic, 1994: Bouvet, 2010Lopez and Perry, 2008), namely the activity of working age females, real GDP per capita levels, social transfers as a share in the GDP of the country, employment in the primary sector as a share in total employment, and employment in the secondary sector as a share in total employment.…”

Section: Methodsmentioning

confidence: 99%

“…Thus, the EU must decide -wheter it will (i) try to limit or even reverse the process of spatial concentration or (ii) focus its policies on the acceleration of convergence between the underdeveloped and developed countries. Bouvet (2010) investigates income inequalities between 197 European regions in the period . She uses panel analysis with the Gini coeffi cient as a measure of inequality within individual countries.…”

Section: Literature Reviewmentioning

confidence: 99%

“…This result justifi es the funds invested in the Cohesion Policy. However, Bouvet (2010) warns that the inequality in the EU is still two times larger than in the US. Furthermore, the analysis is conducted for the pre-crisis period which puts a large question mark on the relevance of these results today.…”

Section: Literature Reviewmentioning

confidence: 99%

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Does the Cohesion Policy Decrease Economic Inequalities in the European Union?

Jovančević

Globan

Recher

2015

Zagreb International Review of Economics and Business

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This paper examines the impact of the EU Cohesion Policy on the relative development of EU countries as well as on the development of NUTS-2 regions within member states. The main hypothesis is that the Cohesion Fund payments are reducing inequalities between member states, while failing to decrease the regional inequalities within member states in the European Union. The basic conclusion is that Cohesion funds should not be viewed as the only solution for the problem of regional inequalities in the EU, but rather as a complementary policy instrument to national regional policies. However, the problem of creating institutional capacity for the withdrawal of the Cohesion resources remains emphasized, especially in new member states with lower real GDP growth, in order to compete for projects of highest multiplicative effects on the economy.

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Section: Methodsmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

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Does the Cohesion Policy Decrease Economic Inequalities in the European Union?

Jovančević

Globan

Recher

2015

Zagreb International Review of Economics and Business

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“…In fewer instances, authors instead reported the presence of counter-cyclical disparities. This is the case for PEKKALA (2000) and KANGASHARJU and PEKKALA (2004), who investigated per capita GDP disparities across small-scale Finnish sub-regions, respectively, in the 1988-1995and 1988and for BOUVET (2010), who studied the evolution of per capita GDP inequalities among 197 NUTS-2 regions belonging to thirteen European Union countries between 1977. Furthermore, QUAH (1996 reported some evidence of counter-cyclical behaviour of per capita personal income disparities while analysing US states between 1982and 1990.…”

Section: Introductionmentioning

confidence: 99%

Regional Convergence and Aggregate Business Cycle in the United States

Magrini¹,

Gerolimetto²,

Duran³

2013

Regional Studies

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MAGRINI S., GEROLIMETTO M. and ENGIN DURAN H. Regional convergence and aggregate business cycle in the United States, Regional Studies. The existing literature on convergence largely ignores the effect of aggregate fluctuations on the evolution of income disparities. However, if regional disparities follow a distinct cyclical pattern in the short run, the period of analysis should be chosen with great care to avoid distortions in the results. By analysing convergence among forty-eight conterminous US states through the distribution dynamics approach, it is shown that these distortions could be quite sizeable. Moreover, when convergence is analysed over an appropriate period that includes only complete cycles (1989)(1990)(1991)(1992)(1993)(1994)(1995)(1996)(1997)(1998)(1999)(2000)(2001)(2002)(2003)(2004)(2005)(2006)(2007), results show that regional disparities exhibit a pro-cyclical behaviour and that the underlying long-run tendency is towards divergence. ConvergenceRegional Dans une large mesure, la documentation actuelle sur la convergence ne tient pas compte de l'effet des fluctuations globales sur le développement des inégalités de revenu. Cependant, si les inégalités régionales présentent des tendances cycliques très nettes à court terme, il faut déterminer la période à étudier avec prudence afin d'éviter des résultats erronés. En analysant la convergence à partir de quarante-huit états contigus aux États-Unis par moyen de la façon dynamiques de distribution, on montre que ces résultats erronés pourraient s'avérer assez importants. En outre, quand on analyse la convergence sur une période appropriée qui ne comprend que des cycles économiques complets (entre 1987 et 2007), les résultats laissent voir que les inégalités régionales présentent un comportement procyclique et que la tendance sous-jacente à long terme est à la divergence. KonvergenzRegionale Disparitäten Geschäftszyklus Distributionsdynamik MAGRINI S., GEROLIMETTO M. y ENGIN DURAN H. Convergencia regional y el ciclo comercial agregado en los Estados Unidos, Regional Studies. En la actual bibliografía sobre la convergencia se ignora en gran medida el efecto de las fluctuaciones agregadas en lo que respecta a la evolución de las desigualdades de ingresos. Sin embargo, si las desigualdades regionales siguen a corto plazo un Regional Studies, 2015 Vol. 49, No. 2, 251-272, http://dx.doi.org/10.1080/00343404.2013 © 2013 Regional Studies Association http://www.regionalstudies.org patrón cíclico destacado, habría que elegir el periodo de análisis con sumo cuidado para evitar distorsiones en los resultados. Al examinar la convergencia entre cuarenta y ocho Estados limítrofes de los Estados Unidos mediante un enfoque sobre las dinámicas de distribución, demostramos que estas desigualdades podrían ser bastante considerables. Además, si analizamos la convergencia de un periodo apropiado incluyendo solamente ciclos completos (1989)(1990)(1991)(1992)(1993)(1994)(1995)(1996)(1997)(1998)(1999)(2000)(2001)(2002)(2003)(2004)(2005)(2006)(2007), los resultados in...

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“…Europe have contributed to a convergence of incomes only in some countries (Bouvet 2010), and that income levels in poorer regions tend to converge to those in richer regions while differences in productivity or in employment growth tend to persist (Becker et al 2010a, Checherita et al 2009). …”

Section: Limiting the Role Of The Esm To A Crisis Mechanismmentioning

confidence: 99%

From the Stability Pact to ESM - What Next?

Buch¹

Stability of the Financial System

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Europe is struggling with the resolution of the severe debt crisis and is in the process of overhauling its institutional set up. One element of the reform agenda is the European Stability Mechanism (ESM) which is intended to provide liquidity assistance to countries in case financial stability in the Euro Area is at stake. The ESM shall enter into force in July 2012, following ratification of the member states. It will have five instruments at its disposal: direct loans to countries, purchases of assets on the primary or secondary market, contingent credit lines, and funds for bank recapitalization. In this contribution, it is argued that establishing an explicit crisis resolution mechanism is in principle useful. However, the ESM is defined too broadly, and its scope should be limited to the provision of emergency liquidity assistance only under narrowly defined circumstances. Using the option to recapitalize banks might help addressing a potential debt overhang problem. Yet, the current framework has deficiencies in this regard and lacks the necessary backing by complementary institutional reforms, notably a regime for cross-border bank resolution.

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EMU and the dynamics of regional per capita income inequality in Europe

Abstract: Income inequality, European Union, European integration, EMU, Regional disparities,

Cited by 58 publications

References 51 publications

Does the Cohesion Policy Decrease Economic Inequalities in the European Union?

Does the Cohesion Policy Decrease Economic Inequalities in the European Union?

Regional Convergence and Aggregate Business Cycle in the United States

From the Stability Pact to ESM - What Next?

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