Impact of Establishing the Eurozone on Economic Performance

Skopeček, Jan

IMPACT OF ESTABLISHING THE EUROZONE ON ECONOMIC PERFORMANCE

JAN SKOPEČEK

Abstract:

The paper focuses on the impact of deepening the European integration process or the launch of the euro on the economic performance of the European economy. It points to weak economic growth rates in European economies, thus disproving the assumption of the fathers of the common European currency that the introduction of the euro will lead to higher economic growth rates. It analyses European strategies to make the Eurozone the most competitive economic center in the world, discussing the reasons why these strategies have repeatedly failed. Furthermore, the term secular stagnation in the European context is also debated. The text also discusses the reasons for the weak economic growth of the Eurozone and points to divergent developments in European economies within the Eurozone.

Keywords:
Economic Integration, Monetary Union, Optimum Integration Area, ECB, GDP, Growth, Interest Rates, Regulation, Aggregate Labor Productivity, Cross Country Output Convergence

DOI: 10.20472/BM.2021.9.2.005

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APA citation:
JAN SKOPEČEK (2021). Impact of Establishing the Eurozone on Economic Performance. International Journal of Business and Management, Vol. IX(2), pp. 57-74. , DOI: 10.20472/BM.2021.9.2.005