A cogent and systematic look at the ways in which enacting fiscal and governmental policy changes might reinvigorate Europe's stagnant economy.

Europe is confronted by an intimidating triple challenge: economic stagnation, climate change, and a governance crisis. This book demonstrates how these challenges are inter-related, and discusses how they can be dealt with more effectively in order to arrive at a more economically secure, environmentally sustainable and well governed Europe.

Challenges for Europe in the World, 2030 embodies critical thinking about the long-term implications for Europe of the clear shift of power from the West to the East and the South. Designed as a multi-faceted project, this book presents an integrated assessment covering a wide range of policy areas and alternative assumptions about trends in global and European governance. In order to reach this ambitious objective in a comprehensive and consistent way, several types of quantitative and qualitative approaches have been combined: a model of macro regions of the world economy, an institutional perspective, and lessons from foresight studies. With a strong focus on policy implications, the book is introduced by an executive summary which outlines the project assumptions, especially on the future of Europe in the context of the current economic crisis and of the emergence of a new balance of powers in the global economy. Subsequent chapters cover the regulation of finance, trade and technology developments, environmental sustainability, employment conditions and population wellbeing. The book concludes with an assessment of the extent to which these developments are likely to lead to significant political changes in Europe. In sum this book challenges public policy makers to re-assess their thinking in shaping Europe’s future.

The success of an economy to adapt quickly, flexibly, and effectively to the demands of the changing international economic environment can only be investigated using the achievements of other national economies or regions as a benchmark. This book analyzes the fundamental factors of competitiveness, which will, in turn, facilitate economic development and growth, in the new post-crisis environment. In the economic, social, legal, and technological environment that has emerged in recent years, as well as in the period after the recent financial crisis, it is critical to define, assess, and implement new pathways to competitiveness and economic development. The book covers all aspects of competitiveness and economic growth, from financial intermediaries to tourism and the digital economy, and from regulation and corporate governance to exchange rate dynamics and monetary policy issues. It uses empirical findings from a variety of different countries with divergent economic structures and policies. It examines the new system of production, and the technological, commercial, financial and institutional environment, with the aim of recommending a proportional division of benefits and costs of economic growth. It offers a fresh, holistic, and flexible concept to underscore the new relationship between competitiveness and economic growth. Such an approach is needed, whereby competitiveness is no longer a zero-sum game between countries, but is achievable for all countries. The book recommends future directions and offers policy solutions, and as such, will appeal to students, researchers, and policymakers, as well as those interested in the role of competitiveness in the operation of markets, productivity, and economic development, and how it might foster innovation and growth.

Europe's performance relative to the US and countries in Asia is a topic that greatly preoccupies policymakers who are concerned that the European Union is losing ground compared to other, more dynamic, parts of the world. This book presents the scale and scope of the challenges that Europe faces in adjusting to globalization and advances in technology.The evidence assembled in this book points to trends in European Union performance that policymakers will find disconcerting. In many areas, Europe has not kept pace with the technological advances of competitors and seems to have lost its dynamism. Employment creation has been lacklustre, new specializations have been slow to emerge and the rate of innovation has been disappointing. The core message in this book is that the problems Europe faces in key areas such as growth, equality and employment are all related to its failure to take sufficient advantage of technological advances, particularly the information and communication technology (ICT) revolution. It is concluded that a coherent European strategy for upgrading technological capability and embedding new technologies, especially ICTs, in society is long overdue.This book will be indispensable to scholars and policymakers in the areas of economic growth, international competitiveness, innovation, regional development and European studies.

The report documents the impressive achievements of the European growth model over the last 50 years. Accounting for the stresses it is experiencing and assessing the longer-term challenges that Europe will face, the report then evaluates the six principal components of the model: Trade, Finance, Enterprise, Innovation, Labor, and Government. It finds that the European growth model has been a powerful engine for economic convergence, helping developing countries in Europe catch up to their richer neighbors and become high-income economies. But recent changes in and outside Europe necessitate change. The report proposes the adjustments needed to make trade and finance work even better, to encourage enterprise and innovation in parts of Europe which have begun to lag, and address shortcomings in the functioning of labor markets and governments. The changes proposed would restart the European convergence machine, make Europe's enterprises competitive, and help Europeans afford the highest standards of living in the world.