Europe´s Global Linkages and the Impact of the Financial Crisis: Policies for Sustainable Trade, Capital Flows, and Migration
Successful integration into global markets is widely viewed as a precondition for sustainable economic growth in Europe. The financial crisis in 2007 has damaged Europa´s global linkages in the form of international trade, direct investment, capital flows, and labor migration. The threat of a lasting setback confronts the policy community at the national, European, and global level with the challenge of creating favorable conditions for a return to growth-
The project therefore addresses three closely related questions:
How are international trade and direct investment affected by financial integration and potentially tighter restrictions on bank lending due to the financial crisis?
How are international banking operations emerging from the crisis?
How is international labor migration related to international trade and investment, and how will tighter immigration policies since the crisis affect trade and investment?
The project was made possible by the Volkswagen foundation, which offered its support within its program "Europe and Global Challenges". Led by the Institute for Applied Economic Research (IAW) in Tübingen, it brings together leading researchers from six countries and three continents. Since the beginning of the project in July 2011, the multinational team has generated a vast array of interesting results, including important implications for policy that have been communicated within policy workshops and through various other channels. Three project workshops and several research visits funded by the project have enabled new and strengthened research collaboration and partnerships across continents.