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Europe's Growth Challenge, by Anders �slund, Simeon Djankov
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Europe is in a serious crisis but that it can face up to these challenges. In Europe's Growth Challenge Anders Åslund and Simeon Djankov argue that the European Union can only be successful if it carries out substantial changes in the European economic system.
European society benefits from equality in income, excellent healthcare and basic education, good infrastructure, and developed institutions for the rule of law. But Europe has entered a period of economic stagnation and is distracted by multiple challenges. Economic and political strains have stalled vital reforms, while the threat of disunion is evident.
By focusing on what works in Europe and the great variations within Europe, Åslund and Djankov show how Europe can develop a strategy for higher economic growth. They advocate a reduction of the fiscal role of the state, an opening up of services and digital trade, an easing of the regulatory and tax burdens on labor, an improved environment for startups and innovation, pension reform, and the development of Europe's energy union.
In spite of Europe's many achievements, Europe needs to address its growth challenge to stay afloat. Åslund and Djankov provide novel insights and provocative ways forward.
- Sales Rank: #1437283 in Books
- Brand: Aslund Anders
- Published on: 2017-01-03
- Original language: English
- Dimensions: 6.30" h x .90" w x 9.30" l, .0 pounds
- Binding: Hardcover
- 232 pages
- Europe s Growth Challenge
Review
"European Union needs a strong economy to respond effectively to the global challenges and to live up to the expectations of its citizens. It needs to raise the economic growth rate and sustain its global competitiveness. This book offers valuable insights into how that can be done through structural reforms and further market integration."
-- Valdis Dombrovskis, Vice President, European Commission
"The European Union faces an almost perfect storm of political challenges. The strategy it has used in the past -- barely muddling through a series of calamities -- is no longer enough. In this book, Anders Åslund and Simeon Djankov respond to these challenges, suggesting how Europe can cure its dismal economic growth through ambitious structural reforms."
-- Carl Bildt, Former Prime Minister of Sweden"
"Standard policy responses to Europe's growth malady have focused on loose monetary policies and massive government spending. These can at best stabilize, but surely will not cure the patient. Åslund and Djankov propose credible cures based on a wealth of academic research: how to create a more nimble, flexible, and dynamic economy in Europe."
-- Andrei Shleifer, Professor of Economics, Harvard University
"This book has a strong message to European policy makers: Focus on competitiveness if you want to have the economic strength and political clout to address all the challenges you are facing."
-- Kristalina Georgieva, Vice President, European Commission
About the Author
Anders Aslund is a Senior Fellow at the Atlantic Council in Washington, DC.
Simeon Djankov is a Visiting Fellow at the Peterson Institute of International Economics and Rector at the New Economic School in Moscow. Since November 2015, he has been a visiting professor at the London School of Economics.
Most helpful customer reviews
1 of 1 people found the following review helpful.
Excellent reading and analysis by Anders Åslund and Simeon Djankov- ...
By Mathew
Excellent reading and analysis by Anders Åslund and Simeon Djankov- both of them veteran economic crisis solvers. The book offers a structural economic reform agenda for Europe. It actually doesn't sound very complicated the way they explain it - Europe needs to get it's missing markets for services, digital and energy going. The fiscal burden is too great and and needs to be reduced. Pension reforms are necessary in most countries. The tax burden on labor needs to be reduced to increase productivity and employment. A big future challenge for Europe is to catch up with the US when it comes to innovations. The book is easy to read and gives a good recepy on what should be done - and what can be done - to increase the standard of living in the European countries.
0 of 0 people found the following review helpful.
An important policy prescription
By Amazon Customer
At its core this book is a prescription for what must be done to assure the viability of the European Union. Its thesis is that structural reform is essential to creating a true single market and boosting growth. The Europhile authors, a Bulgarian and a Swede, worry that without reform Europe’s economy will continue to drift and lose competitiveness, further dimming the vision of a unified Europe.
In the wake of Brexit and the refugee crisis their message couldn’t be more timely.
This book will not be popular among those who resist change. Aslund and Djankov argue that state participation in the economy must be reduced, labor market rigidities removed, overly generous pensions scaled back, and regulations slashed and unified. Europe must make good on the promise of a single market in services, overcoming the inefficiencies of country specific mobile phone sim cards, or the absence of a single EU wide account for digital services like Netflix or music streaming. Lagging innovation is reflected in Nokia’s and Ericsson’s lost dominance in mobile telephony.
Europe’s Growth Challenge is an important book whose recommendations need to be debated.
This book is a wake-up call for the need for market based reform to enhance EU viability and boost Europe’s competitiveness.
Barry D. Wood
0 of 0 people found the following review helpful.
The authors argue that this should be quite easy to do from a technical point of view
By Amazon Customer
Anders Åslund and Simeon Djankov have written a book that offers a different view of the European economy from what you usually meet. Their key argument is that Europe can and must raise its economic growth by one percentage point. The authors argue that this should be quite easy to do from a technical point of view. On the one hand, three markets that have not developed as yet need to be formed, namely the markets for services, digital and energy. On the other hand, they argue that the EU country governments, rather than the EU as a whole, need to carry out the necessary structural reforms, reducing the excessive fiscal burden, reform pensions to get incentives right, and ease the regulatory and tax burden on labor. The greatest challenge is to catch up with the US in innovations. This book is an easy read and it will give you a clear idea of what the EU and its member countries should do in order to grow so that they can keep populism at bay.
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