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• Chile and the Global Depression

  132-146

  Andrea Postenyi

  Views:

  124

  The 2007-2009 economic crisis ended an exceptional, five year-long economic boom for Chile and other countries in Latin America. The most beneficial economic outcome of the upswing was the fundamental improvement of the region’s countries in terms of the current crisis, which greatly reduce these countries’ vulnerability to external economic shocks. Based on the previous assumption several economists shared the opinion that “This time things are different”. That is, the fate of the continent in the current crisis will be decided differently as the global downturn has barely affected the region’s economic indicators. However, from September 2008 it has become apparent that the continent’s economy remains vulnerable. The crisis, which has infected the real economy through multiple channels, has reached two major victims of the recession, - Latin America and Central and Eastern Europe – leaving them with a decline in GDP per capita and the slowdown of economic growth. Conversely, Chile experienced a decline of a lesser extent due to its structural reforms and was able to re-orientate to its previous growth path much quicker than the rest of the continent’s economy after the ending of the crisis.

  JEL classification: O54, H12, O20

• The development of regional policy in the European Union: reforms and conflicts

  88-102

  Zsuzsanna Tron

  Views:

  132

  In the European Union the discussion of each budgetary period sees fierce debates about the structural expenses and their distribution. The paper presents a summary of the principles of those involved, and tries to catch them in the policy making of Brussels. In the first half of the paper the necessity of regional policy and its theoretical foundation are examined touching upon the so called convergence and divergence theories. This is followed by the discussion of the conflicting interests and motifs shaping the regional policy. The final question is whether the expenses of the Structural Funds can be justified in view of the processes and results shown.

• Az európai növekedési potenciál eróziója

  5-23

  Peter Halmai

  Views:

  94

  The potential growth rate in the EU Member States has been declining and lagging behind their competitors since the 1990's. Due to severe productivity problems in the EU (first of all the significant decrease in the total factor productivity dynamics) and the insufficient adaptation to the processes of globalisation, further remarkable and permanent decline in the potential growth rate is expected. Paradoxically the potential growth rate might decrease in the long run to a greater extent in the new Member States. As a result of the present global economic crisis new risks might appear. The riskss of the recurrence of shocks are significant. These factors project further erosion of the European growth potential. Integrated structural reforms and a comprehensive review of the European model are needed in order to overcome the unfavourable trends and put Europe on a more favourable growth path than the one indicated in this study.

  Journal of Economic Literature (JEL) classification: F15, F43

• The problems and future of EU regional policy: the background, preparation and conlcusions of the Third Cohesion Report

  189-206

  Zsuzsanna Tron

  Views:

  104

  As the time approaches for the preparation of the new European Union, budget storm clouds are appearing on the horizon. The various problems and challanges are putting European politicians to the test. The present article investigates the main areas in which experts must act. One of the most visible of these areas is European regional policy. After analysing what regional policí has and has not achieved, and summarising the aims of the structural policy, the article describes the planned reforms and the outline of the new cohesion policy according to the Third Cohesion Report which appeared in February.