The Internationalization of Southern European Economies

Louka T. Katseli

Chapter 3 in Economic Transformation, Democratization and Integration into the European Union, 2001, pp 75-118 from Palgrave Macmillan

Abstract: Abstract The purpose of this chapter is to evaluate the significance of internationalization for the consolidation of democracy in Southern Europe and to highlight those common features and processes that make up what can be called the ‘Southern European model’ of political and economic development. The study of political and economic transformation in Greece, Portugal and Spain is of heightened interest at a time when Central and Eastern European countries (CEE) struggle to deepen their democracies, and build market economies with a view towards integration into Europe. Despite differences in the order of magnitude regarding transformation requirements, what links the CEE experiment with the Southern European experience is the common challenge to combine democratic consolidation with substantial structural adjustment in the context of a global economy, which is characterized by rapid technological innovation, by trade and financial-market liberalization and by massive deregulation. During the last two decades, Southern European societies and economies had to meet this dual challenge, and, despite substantial difficulties and differences in national strategies, successfully did so.

Keywords: European Union; Foreign Direct Investment; Real Exchange Rate; Trade Liberalization; Trade Deficit (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-333-97761-3_3

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DOI: 10.1057/9780333977613_3

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