This paper aims to indicate that an economic recovery of the European economy can be pulled by an increase of the aggregate demand and by the adoption of a new industrial policy having a territorial dimension. While the Domar's and Thirlwall's model indicates that growth is determined by the...

This paper aims to indicate that an economic recovery of the European economy can be pulled by an increase of the aggregate demand and by the adoption of a new European cohesion policy having an industrial and a territorial dimension. The paper illustrates a theoretical model: the model of the...

This paper aims to indicate that an economic recovery of the European economy can be pulled by an increase of the aggregate demand and by the adoption of a new industrial policy having a territorial dimension. While the Domar's and Thirlwall's model indicates that growth is determined by the...

This paper aims to indicate that an economic recovery of the European economy can be pulled by an increase of the aggregate demand and by the adoption of a new European cohesion policy having an industrial and a territorial dimension. The paper illustrates a theoretical model: the model of the...

The southern European periphery suffered a severe setback in its catching-up process versus Western Europe after the financial crisis with GDP dropping by 10% between 2008 and 2012 and unemployment increasing to 20% for Greece, Portugal and Spain. We analyze first the reason for this setback,...

The southern European periphery suffered a severe setback in its catching-up process versus Western Europe after the financial crisis with GDP dropping by 10% between 2008 and 2012 and unemployment increasing to 20% for Greece, Portugal and Spain. We analyze first the reason for this setback,...

This paper argues that an industrial policy strategy is needed for the southern European countries for regaining competitiveness and stability. That strategie need to be different from the past industrial policy, more systemic, and should include innovation strategies and ways to upgrade...

The southern European periphery suffered a severe setback in its catching-up process versus Western Europe after the financial crisis with GDP dropping by 10% between 2008 and 2012 and unemployment increasing to 20% for Greece, Portugal and Spain. We analyze first the reason for this setback,...

The investment-intensive growth model of the People's Republic of China (PRC) is often viewed as state-driven and ultimately unsustainable. But largely unnoticed, a shift has taken place. This paper examines the changes in investment patterns since 2003 and the potential impact of industrial...