EUROPEAN POLICY ON INCREASING THE COMPETITIVENESS OF THE FINANCIAL INDUSTRY, A KEY FACTOR FOR JOB CREATION

Otilia Manta

Journal of Financial and Monetary Economics, 2017, vol. 4, issue 1, 217-227

Abstract: More and more in the field of research are papers on the relationship between competitiveness, job creation and sustainability. This is also in line with the Global Economic Forum's Global Competitiveness Report 2017-2018, a report that appears at a time when the global economy is facing big challenges and "has begun to show signs of recovery and yet the factors decision makers and business leaders are concerned about prospects for future economic growth. Governments, businesses and individuals face a high level of uncertainty as technological and geopolitical forces reshape the economic and political order that has sustained international relations and economic policy over the past 25 years. At the same time, the perception that current economic approaches do not serve people and societies sufficiently well gains ground, triggering appeals for new models of human economic progress. ―Moreover, in sectors such as the agro-food industry, the phenomenon of increased competitiveness is growing, economies such as the national economy being subject to competitiveness mechanisms with a direct impact on the external balance of payments. In many advanced economies, the big challenges are due to the increasing inequalities between resource-poor and the impacts of technological change and climate change on the economy, "the complex impact of globalization - including those related to commodity trade, services and data, and the movement of people and capital. In emerging economies, the sharp decline in poverty and an increase in the middle class have fuelled higher aspirations and demands for better public goods; these requirements are now facing a slower growth and a tightening of government budgets. "

Keywords: competitiveness of the financial industry; jobs; financial technology (search for similar items in EconPapers)
JEL-codes: G23 O16 (search for similar items in EconPapers)
Date: 2017
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