Monetary Economics Seminar of Kobe University
Due to unforeseen circumstances, this seminar has been cancelled.
Meeting Room at RIEB (Annex, 2nd Floor)
The seminar is primarily for the workshop members. But non-members are also welcome to attend.
Handouts will be available at the Office of Promoting Research Collaboration.
13:30 ～ 15:00 (1:30pm-3:00pm )
- Economic Convergence and Divergence in the EU: Why and What Are the Implications?
- István P. SZEKELY
(Economic and Financial Affairs, European Commission)
- The accession of the eastern European countries to the EU brought about one of the fastest convergences of middle-income countries in the world. Trade has increased rapidly making these countries the most open economies in the world. At the same time, the great recession that started in 2008 accelerated further the divergence of the southern European countries. Their income levels relative to the richest countries have been declining and their share in world trade has been reduced.
The presentation shall discuss the forces behind these opposing trends and their implications for economic and social developments in the EU. A framework is defined to analyze the interaction between the EU as a supranational institution and the economic and social development of its member states. This framework consists of several channels through which this interaction works, such as trade, FDI, migration, financial integration and institutions, and offers a way to explain both convergence and divergence within the EU.