 Industry, Foreign Trade and Employment in EU Countries; Comparison of France, Germany, Italy, Spain and the UK with the United StatesApplied Econometrics and International Development, 2011, vol. 11, issue 2 Abstract: The main aim of this article is to analyze the effects of industrial and trade policy of the European Union on economic development, with particular reference to the negative effects of excessive trade deficits and industrial decline in some EU countries in the period 2000-2010. We compare 5 major EU countries (France, Germany, Italy, Spain and the United Kingdom) with Switzerland and the United States. We present some macro-econometric models to quantify the positive effects of industry on economic development, employment and real wages. The main conclusion is that Foreign Trade Deficits may lead to unsustainable development and unemployment when they are excessive and are not accompanied by industrial development policies and financial support. Our suggestion is that EU industrial policy should be more effective in order to improve development and quality of life of EU citizens and to avoid financial crisis. Keywords: Industry and sustainable development; Employment; Foreign Trade; Current Account Balance; macro-econometric models; European Union; EU; France; Germany; Italy; Spain; Switzerland; UK; USA (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: http://EconPapers.repec.org/RePEc:eaa:aeinde:v:11:y:2011:i:2_4 Ordering information: This journal article can be ordered from Access Statistics for this article More articles in Applied Econometrics and International Development from Euro-American Association of Economic Development |
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