Economic Crisis, Development and Competitiveness in Southeastern Europe: Theoretical Foundations and Policy Issues (Contributions to Economics)

This book analyzes the foundations and means of overcoming the current crisis in the broader area of Southeast Europe. The contributions make proposals from both theoretical and empirical points of view and discuss the concept, determinants and policies of competitiveness in these countries. The financial crisis became a prolonged fiscal crisis, a bank confidence crisis, and economic recession, and the book discusses the European and national policies implemented to resolve it. It also investigates the internal conflicts generated by institutional arrangements and policy measures, both within the nation states and the eurozone. Economic competitiveness is a key topic for policymakers, as they have to secure economic growth and improve their populations’ standards of living. This volume sheds light on what constitutes economic competitiveness, as well as on the policies and economic and institutional structures that improve competitiveness. Front Matter....Pages i-xi Front Matter....Pages 1-1 Macroeconomic Theory and Macroeconomic Logic: The Case of the Euro Crisis....Pages 3-22 Economic Crisis and National Economic Competitiveness: Does Labor Cost Link the Two? The Case of the South Eurozone States....Pages 23-39 ‘Compulsory’ Economic Deflation Turned Political Risk: Effects of Austere Decision-Making on Greece’s ‘True’ Economy (2008–2015) and the ‘Eurozone or Default’ Dilemma....Pages 41-55 Theory of Optimum Currency Areas and the Balkans....Pages 57-74 The Balance-of-Payments Constrained Growth Model in Transitional Economy: The Case of Bulgaria....Pages 75-92 The Nexus Between Imports and National Income in Turkey....Pages 93-104 Front Matter....Pages 105-105 Interaction Between Competitiveness and Innovation: Evidence from South-Eastern European Countries....Pages 107-120 Testing Uncovered Interest Parity for Structural Breaks: A Developing Country Perspective....Pages 121-137 Adult Education: A Vehicle for Economic Development....Pages 139-157