On the Multivariate Analysis of the "Lisbon Process"

Arno Tausch, Almas Heshmati () and Chemen S. J. Bajalan ()
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Chemen S. J. Bajalan: University of Kurdistan Hawler

No 3198, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: Starting from Professor Kornai’s assertion about the necessity to focus on the long-term perspectives of the transformation process, we analyze in this paper the Lisbon performance of the countries of the European Union from such a long-term, structural perspective. We present in a simple form the mathematical methods used in this essay. Then, we analyze Lisbon indicator performance by factor analytical means. We conclude that only a Schumpeterian vision of capitalism as a process of “creative destruction” – or rather – “destructive creation” can explain these contradictions, which we empirically reveal in this analysis, and which beset the “Lisbon process” from the very beginning. Our factor analysis tells us that a majority of the kernel Lisbon indicators go indeed hand in hand with high comparative price levels; high freight transport; high greenhouse gas emissions; low business investment rates; and low youth educational attainment rates. We conclude that in reality we are facing four underlying and contradictory processes including a Lisbon productivity factor; high eco-social exclusion; the employment performance; and the neo-liberal European model.

Keywords: cross-sectional models; spatial models; economic integration; regional economic activity; international factor movements; international business; international relations; index numbers and aggregation; international political economy (search for similar items in EconPapers)
JEL-codes: C21 C43 F15 F2 F5 R11 (search for similar items in EconPapers)
Pages: 49 pages
Date: 2007-12
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Published - published in: History & Mathematics: Processes and Models of Global Dynamics, Volgograd, Russia, 2010, 92 – 137

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