Publication:
EU11 Regular Economic Report, Issue #26, January 2013

Simple item page
dc.contributor.authorWorld Bank
dc.date.accessioned2014-01-03T21:44:49Z
dc.date.available2014-01-03T21:44:49Z
dc.date.issued2013-01
dc.description.abstractThe economic report comprises two parts: a macroeconomic report and a special topic on the issue of economic policy interest. According to the first part, in 2012 the EU11 economies have outperformed the rest of the European Union (EU). In the middle of a recession in the Euro area, the EU11 region is set to expand by about 1 percent in 2012. However, the recession in the Euro area continues to dampen the EU11 economic performance. With an uncertain economic outlook in the medium term, the EU11 need to pursue decisive economic policies on two fronts to safeguard and accelerate their growth momentum. First, a prudent macro-policy stance should continue to shore up the confidence of financial markets. Second, the medium-term economic growth potential of the EU11 can only be realized if structural barriers to economic activity are removed. Second, the current and projected low fertility levels for Europe imply that the region will go through an unprecedented process of population aging, causing dramatic changes in the age structure of European societies. These changes in the age structure can have significant effects on economic growth. This paper analyzes the quantitative impact of the projected demographic changes on economic growth through their effect on the factors of production, as well as the role that these will play in shaping income convergence in the region in the decades to come. The empirical results indicate that EU11 is likely to experience a sizable reduction in income per capita growth and thus in the speed of income convergence to the rest of the EU due to the expected demographic developments in the region. However, increasing labor force participation as well as improving the skill level of the labor force in the EU11 appears to be a powerful instrument for fostering economic growth and further convergence in the EU in the context of aging societies.en
dc.identifierhttp://documents.worldbank.org/curated/en/2013/01/17183435/eu11-regular-economic-report-macroeconomic-report-faltering-recovery-special-topic-economic-growth-implications-aging-european-union
dc.identifier.doi10.1596/16489
dc.identifier.urihttps://hdl.handle.net/10986/16489
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.relation.ispartofseriesEU11 regular economic report;No. 26
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectAFFILIATES
dc.subjectAGRICULTURE
dc.subjectBALANCE SHEET
dc.subjectBANK DEPOSITS
dc.subjectBANK LENDING
dc.subjectBANK SUPERVISION
dc.subjectBANKING SECTOR
dc.subjectBANKING SECTORS
dc.subjectBANKING UNION
dc.subjectBANKRUPTCY
dc.subjectBARRIERS TO GROWTH
dc.subjectBASIS POINTS
dc.subjectBENEFICIARIES
dc.subjectBOND
dc.subjectBOND SPREADS
dc.subjectBORROWING
dc.subjectBORROWING COSTS
dc.subjectCADASTRE
dc.subjectCAPITAL ACCUMULATION
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL FORMATION
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL OUTFLOWS
dc.subjectCAPITALIZATIONS
dc.subjectCDS
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANKS
dc.subjectCOLLATERAL
dc.subjectCOLLATERAL FOR LOANS
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMERCIAL REGISTRY
dc.subjectCOMPETITIVENESS
dc.subjectCONSOLIDATION
dc.subjectCONSUMER PRICE INDEX
dc.subjectCONSUMERS
dc.subjectCONSUMPTION EXPENDITURES
dc.subjectCPI
dc.subjectCREDIT BUREAU
dc.subjectCREDIT DEFAULT
dc.subjectCREDIT GROWTH
dc.subjectCREDIT INFORMATION
dc.subjectCREDIT INFORMATION SYSTEMS
dc.subjectCREDIT INSTITUTIONS
dc.subjectCREDIT RATING
dc.subjectCREDITOR
dc.subjectCREDITORS
dc.subjectCROSS-BORDER FLOWS
dc.subjectCURRENCY
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectDEBT
dc.subjectDEBT CRISIS
dc.subjectDEBT FLOWS
dc.subjectDEBT SERVICE
dc.subjectDEPOSIT
dc.subjectDEPOSITS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDIRECT INVESTMENTS
dc.subjectDISTORTIONARY TAXES
dc.subjectDIVIDENDS
dc.subjectDOMESTIC BONDS
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC CONDITIONS
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectECONOMIC FORECASTS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC OUTLOOK
dc.subjectECONOMIC PERFORMANCE
dc.subjectECONOMIC POLICIES
dc.subjectECONOMIC POLICY
dc.subjectECONOMIC SITUATION
dc.subjectEIB
dc.subjectEMERGING MARKETS
dc.subjectEMPLOYMENT GROWTH
dc.subjectENTREPRENEURSHIP
dc.subjectENVIRONMENTS
dc.subjectEQUIPMENT
dc.subjectEQUITY CAPITAL
dc.subjectEQUITY FLOWS
dc.subjectEQUITY INVESTMENT
dc.subjectEQUITY MARKETS
dc.subjectEUROPEAN CENTRAL BANK
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATES
dc.subjectEXPENDITURE
dc.subjectEXPORT PERFORMANCE
dc.subjectEXPORTS
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL DEBTS
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL SYSTEM
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL EFFORT
dc.subjectFISCAL EFFORTS
dc.subjectFISH
dc.subjectFIXED CAPITAL
dc.subjectFLOATING EXCHANGE RATES
dc.subjectFORECASTS
dc.subjectFORECLOSURES
dc.subjectFOREIGN BANKS
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN INVESTORS
dc.subjectGDP
dc.subjectGLOBAL ECONOMY
dc.subjectGLOBAL MARKET
dc.subjectGOVERNMENT BOND
dc.subjectGOVERNMENT BONDS
dc.subjectGOVERNMENT DEFICIT
dc.subjectGOVERNMENT DEFICITS
dc.subjectGOVERNMENT INVESTMENT
dc.subjectGROSS FIXED CAPITAL FORMATION
dc.subjectGROWTH POTENTIAL
dc.subjectGROWTH RATE
dc.subjectHIGH UNEMPLOYMENT
dc.subjectHOUSING
dc.subjectINCOME
dc.subjectINCOME TAXES
dc.subjectINDEBTEDNESS
dc.subjectINFLATION
dc.subjectINFLATION RATE
dc.subjectINFLATIONARY PRESSURE
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL FINANCIAL MARKET
dc.subjectINTERNATIONAL SETTLEMENT
dc.subjectINTERNATIONAL TRADE
dc.subjectINVENTORIES
dc.subjectINVESTMENT ACTIVITY
dc.subjectINVESTMENT PROJECTS
dc.subjectINVESTMENT SPENDING
dc.subjectISSUANCE
dc.subjectLABOR COSTS
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLABOR MARKETS
dc.subjectLABOR MOBILITY
dc.subjectLABOR PRODUCTIVITY
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGAL PROTECTION
dc.subjectLEGISLATION
dc.subjectLENDERS
dc.subjectLENDING PRACTICES
dc.subjectLEVEL PLAYING FIELD
dc.subjectLEVIES
dc.subjectLIQUIDATION
dc.subjectLIQUIDITY
dc.subjectLOAN
dc.subjectLOCAL MARKETS
dc.subjectMACROECONOMIC ENVIRONMENT
dc.subjectMACROECONOMICS
dc.subjectMARKET CONDITIONS
dc.subjectMARKET DEVELOPMENTS
dc.subjectMATURITIES
dc.subjectMATURITY
dc.subjectMINISTRIES OF FINANCE
dc.subjectMINORITY SHAREHOLDERS
dc.subjectMONETARY AUTHORITIES
dc.subjectMONETARY FUND
dc.subjectMONETARY POLICIES
dc.subjectMONETARY POLICY
dc.subjectMONETARY SYSTEMS
dc.subjectMORAL HAZARDS
dc.subjectMORTGAGE
dc.subjectMORTGAGES
dc.subjectMULTINATIONAL BANKS
dc.subjectNET EXPORTS
dc.subjectNONPERFORMING LOANS
dc.subjectNPL
dc.subjectOIL
dc.subjectOIL PRICES
dc.subjectPAPER CERTIFICATES
dc.subjectPAYMENT SYSTEMS
dc.subjectPENSION
dc.subjectPENSIONS
dc.subjectPHYSICAL CAPITAL
dc.subjectPOLICY DECISIONS
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO INVESTMENTS
dc.subjectPRICE INCREASES
dc.subjectPRIVATE CONSUMPTION
dc.subjectPRIVATE SECTOR CREDIT
dc.subjectPRIVATIZATION
dc.subjectPRODUCTIVITY GROWTH
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC INVESTMENTS
dc.subjectPUBLIC SERVICES
dc.subjectPUBLIC SPENDING
dc.subjectREAL WAGES
dc.subjectRECESSION
dc.subjectREGULATORY PRACTICES
dc.subjectREPAYMENT
dc.subjectREPAYMENTS
dc.subjectREPO
dc.subjectRETURNS
dc.subjectSAVINGS
dc.subjectSECONDARY MARKET
dc.subjectSECONDARY MARKETS
dc.subjectSECURITIES
dc.subjectSECURITY INTERESTS
dc.subjectSHORT-TERM DEBT
dc.subjectSOCIAL SECURITY
dc.subjectSOVEREIGN DEBT
dc.subjectSOVEREIGN DEBT PROBLEMS
dc.subjectSOVEREIGN RISK
dc.subjectSTOCKS
dc.subjectSTRUCTURAL DEFICITS
dc.subjectSUBSIDIARIES
dc.subjectTAX
dc.subjectTAX ADMINISTRATION
dc.subjectTAX RATES
dc.subjectTAX SYSTEMS
dc.subjectTAXATION
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTRADE BALANCE
dc.subjectTRADE BALANCES
dc.subjectTRADE FLOWS
dc.subjectTRADING
dc.subjectTRANSFER PAYMENTS
dc.subjectTRANSPARENCY
dc.subjectTRANSPORT
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNEMPLOYMENT RATES
dc.subjectWORLD TRADE ORGANIZATION
dc.subjectWTO
dc.titleEU11 Regular Economic Report, Issue #26, January 2013en
dspace.entity.typePublication
okr.date.disclosure2013-01-16
okr.date.doiregistration2025-05-07T08:47:03.260453Z
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2013/01/17183435/eu11-regular-economic-report-macroeconomic-report-faltering-recovery-special-topic-economic-growth-implications-aging-european-union
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeEnvironment and Natural Resources
okr.globalpracticeFinance and Markets
okr.guid130921468026361086
okr.identifier.externaldocumentum000350881_20130116132042
okr.identifier.internaldocumentum17183435
okr.identifier.report74822
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/01/16/000350881_20130116132042/Rendered/PDF/NonAsciiFileName0.pdfen
okr.region.administrativeEurope and Central Asia
okr.sectorPublic Administration, Law, and Justice :: General public administration sector
okr.themeEconomic management :: Analysis of economic growth
okr.themeEconomic management :: Other economic management
okr.themeEconomic management :: Macroeconomic management
okr.themeEconomic management :: Economic statistics, modeling and forecasting
okr.themeEconomic management :: Debt management and fiscal sustainability
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicEnvironmental Economics and Policies
okr.topicEconomic Theory and Research
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicBanks and Banking Reform
okr.topicMacroeconomics and Economic Growth
okr.topicEnvironment
okr.volume1 of 1
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