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How will EMU affect cohesion?

By Brian Ardy, Iain Begg, Waltraud Schelkle and Francisco Torres

Abstract

The new policy environment of EMU affects economic, political and social cohesion in different ways: the policy mix and menu will be reconfigured; it will provide for more macroeconomic stability in cohesion countries; economic competition will intensify and change patterns of specialisation; and comparison of living standards will become easier, which puts pressure on policymakers to reduce inequalities. This article assesses the significance of these effects and their likely consequences in the short, medium and long run. Then the salient cohesion issues as regards eastern enlargement are discussed. Finally, policy conclusions are drawn, mindful of the considerable uncertainties that warrant further research

Topics: HB Economic Theory
Publisher: Springer for HWWA (Hamburg Institute of International Economics)
Year: 2002
DOI identifier: 10.1007/BF02930319
OAI identifier: oai:eprints.lse.ac.uk:17868
Provided by: LSE Research Online
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