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Author Ville, Ferdi de,
Title Rising powers and economic crisis in the Euro area / Ferdi De Ville, Mattias Vermeiren.
Imprint London : Palgrave Macmillan, 2016.

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Series Global Reordering
Global reordering.
Subject European Union countries -- Commerce -- BRIC countries.
BRIC countries -- Commerce -- European Union countries.
European Union countries -- Foreign economic relations -- BRIC countries.
BRIC countries -- Foreign economic relations -- European Union countries.
Alt Name Vermeiren, Mattias,
Description 1 online resource.
Bibliography Note Includes bibliographical references and index.
Summary In this book, Ferdi De Ville and Mattias Vermeiren examine the linkages between the economic crisis in the euro area and the rise of Brazil, India and China (BICs) in the global monetary and trading system. Drawing on the insights of the comparative capitalism literature, the authors show that the latter development has been a key source of the escalation of trade imbalances in the euro area, which are widely seen as an important cause of the financial and economic crisis in the region. By pointing to the external source of these imbalances and the divergent institutional capacity of the euro area countries to deal with the intensified competition associated with the rise of the BICs, De Ville and Vermeiren go beyond the focus on the divergence in unit labor costs as the driving force of these imbalances. As such, this book provides a comprehensive policy critique of the EUs export-led growth strategy based on declining unit labor costs.
Contents Abbreviations; List of Figures; List of Tables; Chapter 1: Introduction; A Note on Data, Methods and Design Choices; Notes; References; Chapter 2: External Imbalances and Varieties of Capitalism in the Euro Area; External Imbalances and Crisis in the EA; Macroeconomic Perspectives on the EA Crisis; A Political Economy Perspective; Varieties of Capitalism and Imbalances in the EA; A Brief Introduction to the CC Literature; Varieties of Labor Market Institutions and Competiveness in the EA; Varieties of Capitalism and the EA's Extra-Regional Trade Imbalances; Conclusion; Notes.
Extra-EMU Trade Balance Performance of the CMEs: Broad Empirics; Explaining the Extra-EMU Trade Balance Performance of the CMEs; ULC Dynamics, Wage-Setting Institutions and Price Competitiveness; Trade Structures, Skill Regimes and Non-price Competitiveness; Trade Balance Dynamics in CMEs Since the Crisis; Notes; References; Chapter 5: MMEs: Outcompeted by Low-Cost Economies; Extra-EMU Trade Balance Performance of the MMEs: Broad Empirics; Explaining the Extra-EA Trade Balance Performance of the MMEs; ULC Dynamics, Wage-Setting Institutions and Price Competitiveness.
Trade Structures, Innovation Regimes and Non-price Competitiveness; Trade Balance Dynamics of MMEs After the Crisis; Notes; References; Chapter 6: Conclusions; Beyond the Cost Competitiveness Obsession; More Symmetrical Adjustment and EMU Regime: Necessary but Insufficient; From Structural Reforms to Structural Transformation: The Role of Industrial Policy; Notes; References; Annex 1 CMEs: Trade Indicators for Five Most Important Export Sectors and Vehicles (87), Machinery (84) and Electronic Products (85).
Note Online resource; title from PDF title page (EBSCO, viewed August 3, 2016).
ISBN 9781137514400 (electronic bk.)
113751440X (electronic bk.)
9781137514394
OCLC # 951809541
Additional Format Print version: Ville, Ferdi de. Rising powers and economic crisis in the Euro area. London, [England] : Palgrave Macmillan, 2016 xiii, 155 pages Global reordering. 9781137514394