ECONOMIC CRISIS IN EU COUNTRIES. A QUANTITATIVE APPROACH

Roxana-Maria IACOB ( Grecu) ()
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Roxana-Maria IACOB ( Grecu): “Alexandru Ioan Cuza” University of Iasi, Romania

A chapter in EURINT Proceedings 2013, 2013, vol. 1, pp 506-530 from Centre for European Studies, Alexandru Ioan Cuza University

Abstract: Geographical proximity had accelerated the negative economic contagion between states from EU space. All negative inputs could be viewed as system effects for the EU sustainable development and durability. In this context, the aim of this paper is to create an analytical framework for explaining the negative consequences for EU stability. This article uses a quantitative research design based on statistical correlations between economic variables, for creating an exploratory econometric model. We use several statistical equations and linear models (linear equations of regression) between economic liberty, GDP, macro economical indicators with a high level of probability ( 0.95) and significance ( 0.05). The methodology is focused on a case study for observing the impact of economic policies in two economic dimensions: fragile economies from Eastern Europe and development economies from Western Europe. Moreover, despite financial incentives, the current economic situation in the EU states calls for a new framework for action. This framework refers to a possible revision of the monetary union. According to representatives of the IMF, economic depression occurred in a context characterised by the lack of financial prudence. In this meaning, it has been proposed a number of measures to a series of changes in regulatory policy and supervision of financial markets.

Keywords: economic crisis; EU countries; economic policies; GDP growth; governmental debt; banking system (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:jes:euri13:506-530

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