European Monetary Integration, Endogenous Credit Creation and Regional Economic Development

Part of the Economics of Science, Technology and Innovation book series (ESTI, volume 9)


The purpose of this paper is to consider the implications of European monetary integration for peripheral economies within Europe. The view represented in the European Commission’s own research is summarised as follows:

‘As regards the regional distribution of the impact [of EMU], which is relevant to the objective of longer-term convergence of economic performance, there are no a priori grounds for predicting the pattern of relative gains and losses. There are risks and opportunities of different types affecting both categories of regions. Policies are already at work to reduce locational disadvantages of the least favoured and geographically peripheral regions. However, the key to the catching-up process lies in obtaining synergies between Community and national efforts to upgrade the least favoured regional eocnomies. The fixing of clear policy objectives, such as for the single market and EMU, are also highly relevant here for mobilizing such efforts’ [Commission for the European Communities (1990), p. 12, emphasis added].


Financial Service Banking System Banking Sector Peripheral Region Market Segmentation 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Springer Science+Business Media Dordrecht 1996

Authors and Affiliations

  1. 1.Department of EconomicsUniversity of StirlingUK

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