Description:
Contents: Part I: Financing economic and social cohesion -- 1. Funding European solidarity / Ewald Nowotny, Doris Ritzberger-Grünwald, Helene Schuberth -- 2. The role of the European Union in fostering convergence / Benoît Cœuré -- Part II: The role of monetary policy in catching-up -- 3. Monetary policy and catching-up in CESEE / Anita Angelovska Bezhoska -- 4. Some considerations about the impact of monetary policy on economic convergence / Mugur Isărescu -- 5. Nominal versus real convergence: Bulgaria's practical approach toward euro adoption / Dimitar Radev -- Part III: Cohesion within and between countries -- 6. Strengthening economic convergence in Europe / Jeffrey D. Sachs -- 7. Trust and cohesion in Europe: Lessons from the Delian League / Athanasios Orphanides -- Part IV: The role of the EU budget -- 8. The next EU budget and the financing of cohesion policy / Sándor Richter -- 9. Strengthening added value and sustainability-orientation in the EU budget / Margit Schratzenstaller-Altzinger -- 10. EU budget: How to deliver more with less? The case for financial instruments / Stéphane Saurel -- Part V: Industrial policy and investment -- 11. Deindustrialization, job polarization and ageing in emerging / Europe Ralph De Haas, Martin Höflmayr -- 12. Mind the gap: How does the flow of EU funds match structural investment gaps in CESEE? / Tomáš Slačík -- 13. Improving host countries' investment environment: Is the national supply side really the right focus? / Andrew Watt -- Index.
"How can financial flows help the EU fulfil its mandate to promote economic, social and territorial cohesion, and solidarity among Member States enshrined in the EU Treaty? Dissecting the complexity of cohesion, this book examines the factors that matter most for the functioning of the Economic and Monetary Union and the convergence of Central, Eastern and Southeastern European (CESEE) countries. This insightful and timely book brings together central bankers, policy makers and academics to discuss how to best advance and fund the catching-up process of the euro area and CESEE countries. Focusing on a modern understanding of industrial policy - which fosters skills, innovation and infrastructure - contributors highlight how the EU's regional policy can better meet persistent investment needs. Critical and comprehensive, this book is crucial reading for researchers at all levels focusing on policy reform in emerging European economies. Central bankers and policy experts in public or international organizations will also benefit from this book's contemporary perspective on monetary and industrial policies"--