An Analysis of Economic Growth, Competitiveness and Macroeconomic Imbalances in the European Union

Hurduzeu, Gheorghe
Lazar, Maria-Isadora
JEL codes: 
E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy, F43 - Economic Growth of Open Economies, O11 - Macroeconomic Analyses of Economic Development, O47 - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence.
Research area: 
Taking into consideration the determinants of the economic crisis and of the sovereign debt crisis, we aim to analyze the dynamics of the European economies and discuss changes related to macroeconomic imbalances, as highlighted by the recent crises as an important factor of the unfavorable dynamics registered during the last years. In this respect we considered both internal and external imbalances, as specified in the macroeconomic imbalance procedure that was implemented for the European Union member states since 2012, as a response to the crises that affected all open economies of the world. The purpose of this article is to provide a comprehensive analysis of economic imbalances in the European Union and to determine their influence on economic growth.
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