Can cooperation with the BRICs and other Growth Markets help EU member states exit the crisis?

This article explores potential differences in the level and speed of adjustment to the new centres of economic growth (BRICs and other Growth Markets) between the industrial member states (EU-15) and the new members of the European Union (NMS). It seeks to examine whether such differences can be at...

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Bibliographic Details
Published in:Post-communist economies 2014-06, Vol.26 (2), p.176-200
Main Authors: Tkalec, Staša, Svetličič, Marjan
Format: Article
Language:English
Subjects:
Cooperation
Difference
Economic crisis
Economic growth
Economic policy
EU membership
Europe
European Union
Growth models
Member states
Studies
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Summary:This article explores potential differences in the level and speed of adjustment to the new centres of economic growth (BRICs and other Growth Markets) between the industrial member states (EU-15) and the new members of the European Union (NMS). It seeks to examine whether such differences can be attributed to differences in policies and the countries' crisis exit strategies. It establishes that the NMS have been more successful in adjusting to the new centres of economic growth (more by way of exports than inward FDI), but not if Russia, easily the biggest partner of the NMS, is excluded from the analysis. It therefore cannot be claimed that this success was the result of far-sighted strategies.
ISSN:1463-1377
1465-3958
DOI:10.1080/14631377.2014.904106