Documents Aiginger, Karl 15 results

"Beset by an unprecedented combination of challenges including globalisation, demographic shifts, high unemployment and climate change, Europe is in dire need of a new kind of growth and development strategy. The authors of this Forum make compelling arguments for a socioecological transition, in which traditional measures of progress like GDP growth are downplayed in favour of factors such as social inclusion, environmental welfare, high levels of employment and the well-being of European citizens. This Forum explores some of the issues that must be resolved in order to fully achieve the socio-ecological transition, including the necessary decoupling of non-renewable energy use from GDP growth, the reduction of income and wealth inequalities, and the encouragement of innovation that is not based on fossil fuel technology. The Forum presents an optimistic path forward for the continent, with practical policy solutions that do not ignore the many obstacles facing a successful transition."

"We live in a world of black and white, with referenda in the yes/no style, politics in 100-second video clips and headline chasing. All of this leads to over-simplification and, in the end, to a seeming reduction of options. We see this all too well in the case of the European Union: one is either for or against it. In this cacophony of dichotomous beliefs and one-sided or even false information we tend to oversee the most important question: do we really want to leave behind what we have achieved in seven decades of a great European project? We still have a narrow window of opportunity to introduce reforms, but time is running out. With Euro-scepticism on the rise it becomes harder each day to tell a convincing and impassioned European story."

"Fifty years ago, the first issue of Intereconomics was published. In honour of this anniversary, many top European and international economists have contributed papers to this Forum, which looks back on five decades of European integration – from the early days of the European Economic Community to the lingering effects of the recent financial crisis. The contributions also look ahead to what the future holds for the European Union, covering issues as diverse as global trade, the future of the euro, reviving economic growth, the impact of demography and international relations."

"Der Entwicklung des industriellen Sektors wird wieder steigende Bedeutung zugemessen. Das ist eine Reaktion auf die schrumpfenden Weltmarktanteile der Industrieländer und den Aufstieg Chinas zur größten Industrienation, aber auch auf die langsamere Erholung der Länder mit niedrigem Industrieanteil und hohem Leistungsbilanzdefizit nach der Krise. Es gibt allerdings auch den Konsens, dass Industriepolitik grundsätzlich anders gestaltet werden muss als bisher. Die „neue Industriepolitik“ wird in drei Schritten entwickelt: erstens darf sie keine isolierte Politiksparte sein, sondern sie muss systemisch sein und z. B. eng mit Innovationspolitik zusammenarbeiten. Zweitens muss sie die Begrenzung des Wissens der Träger der Industriepolitik zur Kenntnis nehmen und deswegen als Entdeckungsprozess verstanden werden. Und drittens, den Erkenntnissen des Projektes WWWforEurope folgend, muss sie gesellschaftliche Ziele etwa im Sinne der Beyond-GDP-Indikatoren berücksichtigen. Das erfordert besonders für Länder mit hohem Pro-Kopf-Einkommen eine anspruchsvolle Strategie, die wir „high-road competitiveness“ oder Qualitätsstrategie nennen. Industriepolitik darf nicht dazu missbraucht werden, einen Niedriglohnsektor zu zementieren und anspruchsvolle ökologische Standards zu bekämpfen. Eine „Low-Road-Strategie" wäre auch gegen die längerfristigen unternehmerischen Interessen."

"Industrial policy is back on the agenda and the consensus is that it must be different "this time" from the past. We redefine industrial policy for industrialised countries as a strategy to promote "high-road competitiveness", understood as the ability of an economy to achieve "Beyond-GDP"' Goals. High-road strategies are based on advanced skills, innovation, supporting institutions, ecological ambition and an activating social policy. This "new industrial policy" is systemic, working in alignment with other policy strands and supporting social and environmental goals; it affects the structure of the economy as the whole not only the manufacturing sector. Short-term actions, such as protecting employment in unviable companies, low prices for fossil fuels, or reducing wages in high-income economies are counterproductive. To pursue an industrial policy that targets society''s ultimate goals without public micromanagement will be challenging. It could be achieved 1. by setting incentives, particularly those impacting on technical progress (e.g., to make it less labour-saving and more energy-saving), 2. by the use of the important role governments play in the education and research sectors, 3. by greater public awareness and 4. if consumer preferences will call for socio-ecological transition."

"The importance of manufacturing for industrialised countries has been reappraised, specifically in the wake of the financial crisis and of China's rise to world no. 1 in manufacturing. A "new industrial policy" should bolster reindustrialisation, different from the old selective and interventionist one, with proposals by academia, by the European Commission and many national policy makers in the USA, UK and France. It should be pro competitive, in line with societal needs, integrated with innovation and regional policy building on competitive strength and with "sustainability at centre stage". Environmental standards should no longer be considered as an obstacle to competitive manufacturing but could constitute a driver of green growth. Europe sets targets for increasing energy efficiency, increasing shares of renewable energy and cutting emission first for 2020 and then for 2050, demanding the reduction of greenhouse gases by 80 to 90 percent, based on new technologies and prices of carbon dioxide of 250 € per ton. Headwinds to this ambitious path come from low gas prices specifically in the USA, based on a new extraction technology and from the breaking down of the European emission trading. The question now raises whether Europe has to cope with low gas prices as to prevent carbon leakage, or whether Europe can stick to the goals of the envisaged integrated and systemic industrial policy as to raise energy efficiency as well as to reduce carbon emissions by new technologies. A "new industrial policy" would match the US cost advantage in energy by closing the technology deficit, improving skills and going for excellence in energy efficiency and clean technologies."

"The southern European periphery suffered a severe setback in its catching-up process versus Western Europe after the financial crisis with GDP dropping by 10% between 2008 and 2012 and unemployment rates increasing to 20% for Greece, Portugal and Spain. We analyse first the reason for this setback, and then the policy reaction of the national governments and the European partners. Policy reactions mainly focused on restoring price competitiveness. It has important blind spots as far as industrial restructuring, upgrading tourism, making use of globalisation and alternative energies, supporting business starts, connecting education, as well as innovation and firm creation are concerned. There is a lack of national ownership of the reforms on the one hand, and a neglect of the European community and the surplus countries on the other hand, that they could support the southern periphery by measures increasing welfare in the community as well as in the surplus countries. Surplus countries profit heavily by the bifurcation of interest rates for government bonds and by capital flows."