531 resultados para Stagnation


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Comunicación presentada en el IX Congreso de Antropología, Simposio Recreaciones Medioambientales, Políticas de Desarrollo y Turismo, Barcelona. 4-7 septiembre 2002.

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How do urban growth and an ageing population affect or inform planning at the national and regional level in the European Union? At a time when economic stagnation, environmental concerns and demographic changes are affecting social and political discourses, they are also influencing urban form and development. Furthermore, as people are living longer, they still have much to contribute in their later years to their communities and to the economy. As a result, the policy and urban design paradigm is shifting as the relative importance of older people grows. By looking at the connections between ageing, design and the environment, and the role of policy and planning strategies, this brief seeks to understand how the EU plans for an ageing population and attempts to reshape communities in an increasingly challenging socioeconomic context. This brief looks at some of the regional initiatives and guidelines and highlights the role the EU is playing in influencing some of the development trends, particularly those in urban centres.

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The issue: The European Union's pre-crisis growth performance was disappointing enough, but the performance has been even more dismal since the onset of the crisis. Weak growth is undermining private and public deleveraging,and is fuelling continued banking fragility. Persistently high unemployment is eroding skills, discouraging labour market participation and undermining the EU’s long-term growth potential. Low overall growth is making it much tougher for the hard-hit economies in southern Europe to recover competitiveness and regain control of their public finances. Stagnation would reduce the attractiveness of Europe for investment. Under these conditions, Europe's social models are bound to prove unsustainable. Policy Challenge: The European Union's weak long-term growth potential and unsatisfactory recovery from the crisis represent a major policy challenge. Over and above the structural reform agenda, which vitally important, bold policy action is needed. The priority is to get bank credit going. Banking problems need to be assessed properly and bank resolution and recapitalisation should be pursued. Second, fostering the reallocation of factors to the most productive firms and the sectors that contribute to aggregate rebalancing is vital. Addressing intra-euro area competitiveness divergence is essential to support growth in southern Europe. Third, the speed of fiscal adjustment needs to be appropriate and EU funds should be front loaded to countries in deep recession, while the European Investment Bank should increase investment.

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From the Introduction. To address the uncertainties surrounding the Treaty of Lisbon, this book examines several issues from various angles. Regardless of the results of the second referendum in Ireland and the pending ratifications in Poland, the Czech Republic and Germany, the European Union (EU) will not be the same after the Lisbon Treaty. If it comes into effect, Europeans will enter into a new stage in the deepening of the integration process; if it is rejected, the first decade of the 21st Century will represent a period of institutional stagnation in Europe’s integration. Nonetheless, the chapters in this book share the consensus that, despite its limitations, the Lisbon Treaty will make the EU decision making process more efficient, enhance regional democracy and strengthen its international voice.

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The coming weeks and months will be decisive for the general tenor of politics in Turkey. The country faces local elections this March, presidential elections in August and general elections next June, while top-level political scandals compound the deterioration in the state of democracy and rule of law. At the same time, stagnation in Turkey’s accession process continues to sour relations with the EU. In this new Policy Brief, Steven Blockmans puts forward a number of recommendations to help drive the EU accession process forward, namely the early opening of negotiation chapters 23 (judiciary and fundamental rights) and 24 (justice, freedom and security), in line with the EU’s so-called New Approach. In that way reform could not just be assured on paper, but a track record in implementation could be established throughout the process. To achieve this, member states, and Cyprus in particular, need to be persuaded to end their opposition to formulating benchmarks for the opening of accession negotiating chapters 23 and 24.

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THIS DOCUMENT CONTAINS A COLLECTION OF ARTICLES WHICH ARE AVAILABLE ON THE ARCHIVE AS SEPARATE ARTICLES. There has been a lot of attention on the current transition of power taking place in Brussels. The new EU leadership will be confronted with a number of internal and external challenges. They will have deal with economic stagnation, the negative effects of fragmentation and the need to increase the Union's legitimacy. There is no better moment to take stock of the ‘state of the Union’ and to look ahead into the next European political cycle (2014-2019), focusing not on personalities but on content: what challenges do we face and what should the EU focus on in the coming years? These new beginnings will encounter new challenges, and who better understands the issues than some of the key players in European politics. Challenge Europe brings these players together and explores what social, political and economic challenges are facing Europe, and its’ citizens.

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Viktor Orban’s sweeping victory in the 2010 election ensured his party, Fidesz, a constitutional two-thirds majority in parliament. The party took over the rule of the country from the discredited political left when Hungary was plunged in political and economic crisis. Claiming that the circumstances were unusual and that it had a strong electoral mandate, Fidesz introduced radical changes in the country and thus challenged the previous economic and political order. These changes have led to an unprecedented concentration of power and provoked a discussion on the limits of democracy and the rule of law in the European Union. The state’s economic role has strengthened. The Orban government has been unable to overcome economic stagnation but it has managed to stabilise Hungary’s budget situation, which needs to deal with the high debt. Hungary’s relations with most partners in the EU and NATO have cooled due to controversial moves made by its government. As regards foreign policy and economic co-operation, Orban has granted high priority to the ‘Eastern opening’, where Russia has assumed the leading role.

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The European economy is slowly and painfully striving to reemerge from the last six years of crisis. It was a crisis of enormous intensity and contagiousness, given the unprecedented depth of global financial integration combined with the systemic flaws in the EMU architecture. And it is not over, as the high levels of unemployment and the growing divergence between Member States testify. The threat of fragmentation is imminent as ever: fragmentation between euro-ins and euro-outs; fragmentation between North and South; fragmentation within societies, with increasing income inequality and a growing number of, what used to be, the middle class population slipping through the social safety net and below poverty lines. Policies of front-loaded fiscal consolidation have left welfare states in economically weaker countries severely underfunded. According to OECD data, the number of people living in households without any income from work has doubled in Greece, Ireland and Spain, and has risen by 20% or more in Estonia, Italy, Latvia, Portugal, and Slovenia. Fertility rates have dropped further since the crisis, deepening the demographic and fiscal challenges of ageing. There are long-term implications from these deteriorating trends, regarding people's long-term health, education and upward mobility from low-income families. It is also highly likely that many of the people unemployed for a long period of time will never again be able to gain proper access to the job market and build a normal career track. The enduring effects of the crisis risk creating vicious cycles of low growth, high debt levels, austerity, declining productivity, and stagnation. These developments carry heavy implications for the future growth prospects of the European economies, for future prosperity, and for the sustainability of pension systems and welfare states. They must be urgently reversed.

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Since 2007, a series of acute crises have threatened the very existence of the euro area. The financial crisis which spilled into the currency union in 2007 was followed by an unexpectedly strong downturn of the real economy. As of 2010, the euro area was confronted with a severe sovereign debt and banking crisis. Despite these troublesome developments, the euro area has proven to have a considerable degree of resilience. In each phase, governance weaknesses were revealed – and national governments together with the EU institutions have designed an impressive series of policy responses in crisis management and institutional innovation. The euro area today is completed by a banking union with a Single Supervisory and a Single Resolution Mechanism. National budgetary and economic policies are more closely overseen and coordinated. With the European Stability Mechanism, the euro area now has a permanent tool in place to manage sovereign liquidity crises and instabilities in the banking sector. Most importantly, the euro area's only true federal institution, the European Central Bank (ECB), has become its most effective crisis manager: with the announcement of its Outright Monetary Transactions (OMT) programme, the ECB finally managed to calm the self fulfilling crisis in 2012. Meanwhile, the announcement of credit easing and quasi-quantitative easing in September 2014 is a move towards reducing financial fragmentation and countering deflation. The euro area in 2014 is hence a lot different from the one in 2007. And yet, further challenges need to be overcome. Prevailing stagnation, fragmentation and problems of legitimacy require a rethink of policies and further governance reform.

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Differentiated Europe can be analysed in terms of the three meta-challenges outlined in this publication – stagnation, fragmentation and legitimacy. My argument is simple: stagnation or the prospect of it has been a catalyst for differentiation, fragmentation poses a risk of differentiation gone too far and legitimacy of differentiation is embedded on institutional cohesion and good results.

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Culminating an almost unprecedented tour de force of Council meetings in various formations, the European Council reached agreement on a comprehensive economic policy package on March 24-25th that effectively completes the economic arm of economic and monetary union (EMU) and, if consistently applied, holds out the promise of ending stagnation and dismal employment performance throughout the European Union.

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Larry Summers has attracted much attention recently for invoking old theories of secular stagnation to explain the persistence of low interest rates in the recent past. The German economist Carl Christian von Weizsäcker has pointed to a retirement savings glut as the cause for low rates. In the view of Thomas Mayer, however, as expressed in this High-Level Brief, these theses lack both theoretical and empirical support and he offers as an alternative explanation the fall-out from the recent credit boom-bust cycle.

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The sector business services contributes directly and indirectly to aggregate economic growth in Europe. The direct contribution comes from the sector’s own dynamism. Though the business-services industry appears to be characterised by strong cyclical volatility, there was also a strong structural growth. Business services actually generated more than half of total net employment growth in the European Union since the second half of the 1990s. Apart from this direct growth contribution, the sector also contributed in an indirect way to economic growth by generating knowledge and productivity spill-overs for other industries. The knowledge role of business services is reflected in its employment characteristics. The business-services industry created spill-overs in three ways: original innovations, knowledge diffusion, and the reduction of human capital indivisibilities at firm level. The share of knowledge-intensive business services in the intermediate inputs of the total economy has risen sharply in the last decade. Firm-level scale diseconomies with regard to knowledge and skill inputs are reduced by external deliveries of such inputs, thereby exploiting positive external scale economies. The process goes along with an increasingly complex social division of labour between economic sectors. The European business-services industry itself is characterised by a relatively weak productivity growth. Does this contribute to growth stagnation tendencies à la the socalled “Baumol disease”? The paper argues that there is no reason to expect this as long as the productivity and growth spill-overs from business services to other sectors are large enough. Finally, the paper concludes by suggesting several policy elements that could boost the role of business services in European economic growth. This might to achieve some of the ambitious Lisbon goals with respect to employment, productivity and innovation.

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The functions of the financial system of a developed economy are often badly understood. This can largely be attributed to free-market ideology, which has spread the belief that leaving finance to its own devices would provide the best possible mechanism for allocating savings. The latest financial crisis has sparked the beginnings of a new awareness on this point, but it is far from having led to an improved understanding of the role of the financial institutions. For many people, finance remains more an enemy to be resisted than an instrument to be intelligently exploited. Its institutions, which issue and circulate money, play an important role in the working of the real economy that it would be imprudent to neglect. The allocation of savings, but also the level of activity and the growth rate depend on it. In this book, the authors carefully analyse the close links between money, finance and the real economy. In the process, they show why today the existence of a substantial potential of saving, instead of being an opportunity for the world economy, could threaten it with ‘secular stagnation’.

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For several years Georgia has been experiencing processes which may be interpreted as symptoms of a deepening, multidimensional social and political crisis. Reforms have lost momentum, stagnation has set in, and in some areas the situation has begun to revert to the pre-revolution status (including rising crime levels). The Georgian political system has found itself in a serious crisis, while society has become increasingly frustrated and apathetic, mainly because people’s standards of living have been stagnating. This political and social malaise has been breeding Euro-scepticism and disenchantment with the West. A country that had been firmly navigating westwards, Georgia has now started drifting and slipping into malaise. This risks reversing what the country has achieved so far in the internal dimension, increasing instability and triggering a crisis in the pro-Western vector of Tbilisi’s foreign policy. While that may not necessarily mean a turn towards Russia, in the present situation it has been easier for Moscow to pursue its own interests in the region. Should Tbilisi’s pro-Western course become reversed or permanently stagnant, that would entail grave consequences for the country itself and beyond. It would be a defeat for the West and would undermine the European aspirations of countries like Ukraine or Moldova.