Crisis and economic growth in the EU. Medium and long-term trends

Halmai, P. and Vásáry, V. (2011) Crisis and economic growth in the EU. Medium and long-term trends. Acta Oeconomica, 61 (4). pp. 465-485. ISSN 0001-6373

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Abstract

The study analyses the impacts of the financial and economic crisis on potential growth in the European Union. It identifies the main channels of impact mechanism and carries out quantitative estimations in order to reveal the medium and long-term trends. According to over findings the impacts of the crisis are significantly different in the main country-groups of the EU. The basic structural problem of the EU is considered the decreasing trend in potential growth which might be further strengthened through the lasting consequences of the crisis.

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