IDEAS home Printed from https://ideas.repec.org/a/ers/ijebaa/vviiiy2020ispecial1p14-23.html
   My bibliography  Save this article

European Practice in Ensuring Sustainable Development: Problems and Contradictions

Author

Listed:
  • T.S. Malakhova
  • P.P. Kapustin
  • S.A. Morusov
  • E.E. Udovik

Abstract

Purpose: The article aims to study the foreign economic relations of the European Union countries and to identify problems and contradictions arising within the integration process. It also suggests approaches in terms of their further cooperation in the light of the growing geo-economic imbalances. Design/Methodology/Approach. In modern conditions, the problem of inequality between developed and developing countries of the European Union significantly affects the prospects for their medium- and long-term cooperation. In addition, the consequences of the first wave of the global crisis (2008-2011) did not allow the countries of the EU South to enter the growth path. On this basis, authors revealed a negative trend for the growth of public debt in almost all countries of the South within the EU, which could lead to destabilization of the entire integration process. As a theoretical and methodological basis, the article utilizes historical-logical, statistical, and comparative analysis, systemic and situational approaches for the study of foreign economic relations between the EU countries. Findings: Four sectoral clusters in the European Union are identified that can use the ‘consolidation of sectoral clusters’ mechanism in practical terms. As the study shows, these approaches will help smoothing out economic inequality between developed and developing countries of the European Union. Practical implications: Authors are considering the consistent application of horizontal and sectoral (industrial) approaches within the European Union, which will reduce inequality between the partner countries in the integration group. Originality/value. Since economic contradictions lead to the transformation of the integration group in the short and medium term, it is necessary to develop new approaches and mechanisms for foreign economic cooperation between the partner countries.

Suggested Citation

  • T.S. Malakhova & P.P. Kapustin & S.A. Morusov & E.E. Udovik, 2020. "European Practice in Ensuring Sustainable Development: Problems and Contradictions," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 1), pages 14-23.
  • Handle: RePEc:ers:ijebaa:v:viii:y:2020:i:special1:p:14-23
    as

    Download full text from publisher

    File URL: https://www.ijeba.com/journal/499/download
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Malakhova T.S. & Dubinina M.A. & Maksaev A.A. & Fomin R.V., 2019. "Foreign Trade and Marketing Processes in the Context of Sustainable Development," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 2), pages 195-202.
    2. Anonymous, 1953. "International Monetary Fund," International Organization, Cambridge University Press, vol. 7(2), pages 273-274, May.
    3. Anonymous, 1953. "International Monetary Fund," International Organization, Cambridge University Press, vol. 7(1), pages 143-145, February.
    4. Felipe Pazos, 1953. "Economic Development and Financial Stability," IMF Staff Papers, Palgrave Macmillan, vol. 3(2), pages 228-253, October.
    5. Anonymous, 1953. "International Monetary Fund," International Organization, Cambridge University Press, vol. 7(4), pages 576-583, November.
    6. J. K. Galbraith, 1951. "Conditions for Economic Change in Underdeveloped Countries," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 33(4_Part_2), pages 689-696.
    7. Anonymous, 1953. "International Monetary Fund," International Organization, Cambridge University Press, vol. 7(3), pages 419-420, August.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Adriana Z. F. C. Nishimura & Ana Moreira & Manuel Au-Yong-Oliveira & Maria José Sousa, 2021. "Effectiveness of the Portugal 2020 Programme: A Study from the Citizens’ Perspective," Sustainability, MDPI, vol. 13(11), pages 1-21, May.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. T.S. Malakhova & M.Ya. Veprikova & A.A. Kovalenko & E.E. Udovik, 2020. "Global Transformation as a Strategic Marketing Factor of Effective Management of Regional Foreign Economic Relations in Modern Conditions," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 1), pages 39-47.
    2. Malakhova T.S. & Dubinina M.A. & Maksaev A.A. & Fomin R.V., 2019. "Foreign Trade and Marketing Processes in the Context of Sustainable Development," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 2), pages 195-202.
    3. Michael Michaely, 1971. "An Over-all View of Policy Patterns," NBER Chapters, in: The Responsiveness of Demand Policies to Balance of Payments: Postwar Patterns, pages 30-70, National Bureau of Economic Research, Inc.
    4. Christopher Gilbert & Panos Varangis, 2004. "Globalization and International Commodity Trade with Specific Reference to the West African Cocoa Producers," NBER Chapters, in: Challenges to Globalization: Analyzing the Economics, pages 131-163, National Bureau of Economic Research, Inc.
    5. Barry Eichengreen, 1989. "The US Capital Market and Foreign Lending, 1920–1955," NBER Chapters, in: Developing Country Debt and the World Economy, pages 237-248, National Bureau of Economic Research, Inc.
    6. Boysen-Hogrefe, Jens & Gern, Klaus-Jürgen & Groll, Dominik & Jannsen, Nils & Kooths, Stefan & Plödt, Martin & van Roye, Björn & Scheide, Joachim & Schwarzmüller, Tim, 2015. "Das europäische Verfahren zur Vermeidung und Korrektur makroökonomischer Ungleichgewichte: Auswertung der bisherigen Erfahrung und mögliche Reformansätze," Kieler Beiträge zur Wirtschaftspolitik 7, Kiel Institute for the World Economy (IfW Kiel).
    7. Jacob A. Frenkel & Morris Goldstein, 1991. "Exchange Rate Volatility and Misalignment: Evaluating some Proposals for Reform," Palgrave Macmillan Books, in: Alfred Steinherr & Daniel Weiserbs (ed.), Evolution of the International and Regional Monetary Systems, chapter 8, pages 99-131, Palgrave Macmillan.
    8. Carlos F. Díaz Alejandro, 1983. "Stories of the 1930s for the 1980s," NBER Chapters, in: Financial Policies and the World Capital Market: The Problem of Latin American Countries, pages 5-40, National Bureau of Economic Research, Inc.
    9. Ben Hassine Khalladi, hela, 2015. "Financial Crisis Management in Emerging Countries: Optimal Level of International Reserves and Ex Ante Conditions for an International Lender of Last Resort Intervention," MPRA Paper 96151, University Library of Munich, Germany.
    10. Kwon, Austin, 2017. "Trends in the Accumulation of Net Foreign Reserves since World War II," Studies in Applied Economics 94, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
    11. Javier G. Gómez-Pineda, 2016. "Inflación de costos: las devaluaciones de los años cincuenta y el brote populista de 1963," Borradores de Economia 924, Banco de la Republica de Colombia.
    12. J. J. Polak & Mr. Peter B. Clark, 2002. "International Liquidity and the Role of the SDR in the International Monetary System," IMF Working Papers 2002/217, International Monetary Fund.
    13. Chrysafis Iordanoglou & Manos Matsaganis, 2017. "Why Grexit cannot save Greece (but staying in the Euro area might)," LEQS – LSE 'Europe in Question' Discussion Paper Series 123, European Institute, LSE.
    14. Cédric Achille Mbeng Mezui & Uche DURU, 2013. "Working Paper 178 - Holding Excess Foreign Reserves Versus Infrastructure Finance: What should Africa do?," Working Paper Series 478, African Development Bank.
    15. Javier G. Gómez-Pineda, 2016. "Inflación de costos: las devaluaciones de los años cincuenta y el brote populista de 1963 / Cost-push inflation: the devaluations of the fifties and the 1963 populist outbreak," Borradores de Economia 14204, Banco de la Republica.
    16. Aradhna Aggarwal & Nagesh Kumar, 2012. "Structural Change, Industrialization and Poverty Reduction: The Case of India," Development Papers 1206, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) South and South-West Asia Office.
    17. Salman Syed Ali, 2013. "Financial stability and economic development: an Islamic perspective," Chapters, in: Valentino Cattelan (ed.), Islamic Finance in Europe, chapter 5, pages 69-78, Edward Elgar Publishing.
    18. Rasmussen, Wayne D. & Porter, Jane M., 1981. "Strategies For Dealing With World Hunger Post-World War Ii Policies," 1981 Annual Meeting, July 26-29, Clemson, South Carolina 279272, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    19. Sazzadul Arefin, 2019. "Geographic Endowment, Corruption, and Economic Development," Business and Economic Research, Macrothink Institute, vol. 9(1), pages 1-32, March.
    20. Yapatake Kossele Thales Pacific & Ngaba Mbai-Akem Gabriella Magalie, 2023. "One Bad Turn Deserves Another: How Energy Production, Financial Instability, and Political Governance Crisis Sustain the Decline of FDI Inflows in the Central African Republic," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(2), pages 831-853, June.

    More about this item

    Keywords

    European Union; integration; cooperation; economic inequality; world economy.;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F15 - International Economics - - Trade - - - Economic Integration
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ers:ijebaa:v:viii:y:2020:i:special1:p:14-23. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marios Agiomavritis (email available below). General contact details of provider: https://ijeba.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.