Overview

Europe is in a serious crisis but that it can face up to these challenges. In Europe's Growth Challenge Anders Aslund and Simeon Djankov argue that the European Union can only be successful if it carries out substantial changes in the European economic system. European society benefits from equality in income, excellent healthcare and basic education, good infrastructure, and developed institutions for the rule of law. But Europe has entered a period of economic stagnation and is distracted by multiple challenges. Economic and political strains have stalled vital reforms, while the threat of disunion is evident. By focusing on what works in Europe and the great variations within Europe, Aslund and Djankov show how Europe can develop a strategy for higher economic growth. They advocate a reduction of the fiscal role of the state, an opening up of services and digital trade, an easing of the regulatory and tax burdens on labor, an improved environment for startups and innovation, pension reform, and the development of Europe's energy union. In spite of Europe's many achievements, Europe needs to address its growth challenge to stay afloat. Aslund and Djankov provide novel insights and provocative ways forward.

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9780190499204

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Reviews

.. .a remarkably detailed, well-balanced and well-written analysis of the European Union s economic development and related policy issues, especially in the last two or so decades. Highly recommended to anyone, not just professionals, dealing with the European Union. -- CHOICE European Union needs a strong economy to respond effectively to the global challenges and to live up to the expectations of its citizens. It needs to raise the economic growth rate and sustain its global competitiveness. This book offers valuable insights into how that can be done through structural reforms and further market integration. -- Valdis Dombrovskis, Vice President, European Commission The European Union faces an almost perfect storm of political challenges. The strategy it has used in the past -- barely muddling through a series of calamities -- is no longer enough. In this book, Anders Aslund and Simeon Djankov respond to these challenges, suggesting how Europe can cure its dismal economic growth through ambitious structural reforms. -- Carl Bildt, Former Prime Minister of Sweden Standard policy responses to Europe's growth malady have focused on loose monetary policies and massive government spending. These can at best stabilize, but surely will not cure the patient. Aslund and Djankov propose credible cures based on a wealth of academic research: how to create a more nimble, flexible, and dynamic economy in Europe. -- Andrei Shleifer, Professor of Economics, Harvard University This book has a strong message to European policy makers: Focus on competitiveness if you want to have the economic strength and political clout to address all the challenges you are facing. -- Kristalina Georgieva, Vice President, European Commission European Union needs a strong economy to respond effectively to the global challenges and to live up to the expectations of its citizens. It needs to raise the economic growth rate and sustain its global competitiveness. This book offers valuable insights into how that can be done through structural reforms and further market integration. -- Valdis Dombrovskis, Vice President, European Commission The European Union faces an almost perfect storm of political challenges. The strategy it has used in the past -- barely muddling through a series of calamities -- is no longer enough. In this book, Anders Aslund and Simeon Djankov respond to these challenges, suggesting how Europe can cure its dismal economic growth through ambitious structural reforms. -- Carl Bildt, Former Prime Minister of Sweden Standard policy responses to Europe's growth malady have focused on loose monetary policies and massive government spending. These can at best stabilize, but surely will not cure the patient. Aslund and Djankov propose credible cures based on a wealth of academic research: how to create a more nimble, flexible, and dynamic economy in Europe. -- Andrei Shleifer, Professor of Economics, Harvard University This book has a strong message to European policy makers: Focus on competitiveness if you want to have the economic strength and political clout to address all the challenges you are facing. -- Kristalina Georgieva, Vice President, European Commission -European Union needs a strong economy to respond effectively to the global challenges and to live up to the expectations of its citizens. It needs to raise the economic growth rate and sustain its global competitiveness. This book offers valuable insights into how that can be done through structural reforms and further market integration.- -- Valdis Dombrovskis, Vice President, European Commission -The European Union faces an almost perfect storm of political challenges. The strategy it has used in the past -- barely muddling through a series of calamities -- is no longer enough. In this book, Anders Aslund and Simeon Djankov respond to these challenges, suggesting how Europe can cure its dismal economic growth through ambitious structural reforms.- -- Carl Bildt, Former Prime Minister of Sweden- -Standard policy responses to Europe's growth malady have focused on loose monetary policies and massive government spending. These can at best stabilize, but surely will not cure the patient. Aslund and Djankov propose credible cures based on a wealth of academic research: how to create a more nimble, flexible, and dynamic economy in Europe.- -- Andrei Shleifer, Professor of Economics, Harvard University -This book has a strong message to European policy makers: Focus on competitiveness if you want to have the economic strength and political clout to address all the challenges you are facing.- -- Kristalina Georgieva, Vice President, European Commission

European Union needs a strong economy to respond effectively to the global challenges and to live up to the expectations of its citizens. It needs to raise the economic growth rate and sustain its global competitiveness. This book offers valuable insights into how that can be done through structural reforms and further market integration. -- <em>Valdis Dombrovskis, Vice President, European Commission</em> The European Union faces an almost perfect storm of political challenges. The strategy it has used in the past -- barely muddling through a series of calamities -- is no longer enough. In this book, Anders Aslund and Simeon Djankov respond to these challenges, suggesting how Europe can cure its dismal economic growth through ambitious structural reforms. -- <em>Carl Bildt, Former Prime Minister of Sweden </em> Standard policy responses to Europe's growth malady have focused on loose monetary policies and massive government spending. These can at best stabilize, but surely will not cure the patient. Aslund and Djankov propose credible cures based on a wealth of academic research: how to create a more nimble, flexible, and dynamic economy in Europe. -- <em>Andrei Shleifer, Professor of Economics, Harvard University</em> This book has a strong message to European policy makers: Focus on competitiveness if you want to have the economic strength and political clout to address all the challenges you are facing. -- <em>Kristalina Georgieva, Vice President, European Commission</em>

Author Information

Anders Aslund is a Senior Fellow at the Atlantic Council in Washington, DC. Simeon Djankov is a Visiting Fellow at the Peterson Institute of International Economics and Rector at the New Economic School in Moscow. Since November 2015, he has been a visiting professor at the London School of Economics.

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