Close Encounters of the European Kind: Economic Integration, Sectoral Heterogeneity and Structural Reforms

55 Pages Posted: 21 Sep 2020

See all articles by Nauro F. Campos

Nauro F. Campos

University College London; University of Michigan at Ann Arbor - The William Davidson Institute; IZA Institute of Labor Economics

Vera Z. Eichenauer

KOF Swiss Economic Institute at ETH Zurich

Jan-Egbert Sturm

KOF Swiss Economic Institute, ETH Zurich; CESifo (Center for Economic Studies and Ifo Institute)

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Abstract

This paper addresses two main questions: (a) Has European integration hindered the implementation of labour, financial and product market structural reforms? (b) Do the effects of these reforms vary more across sectors than across countries? Using more granular reform measures, longer time windows and a larger sample of countries than previous studies, we confirm that the euro triggered product but neither labour nor financial market reforms. Differently from previous studies, we find that: (a) the Single Market has similar effects to the euro, and (b) sectoral heterogeneity appears less important in explaining the economic impacts of reforms than country heterogeneity.

Keywords: Euro, Single Market, structural reforms, european integration, sectoral heterogeneity

JEL Classification: F4, N1, N4, O4

Suggested Citation

Campos, Nauro F. and Eichenauer, Vera Z. and Sturm, Jan-Egbert, Close Encounters of the European Kind: Economic Integration, Sectoral Heterogeneity and Structural Reforms. IZA Discussion Paper No. 13706, Available at SSRN: https://ssrn.com/abstract=3695407 or http://dx.doi.org/10.2139/ssrn.3695407

Nauro F. Campos (Contact Author)

University College London ( email )

Gower Street
London, WC1E 6BT
United Kingdom

University of Michigan at Ann Arbor - The William Davidson Institute

724 E. University Ave.
Wyly Hall
Ann Arbor, MI 48109-1234
United States

IZA Institute of Labor Economics

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Bonn, D-53072
Germany

Vera Z. Eichenauer

KOF Swiss Economic Institute at ETH Zurich ( email )

Leonhardstrasse 21
Z├╝rich, 8092
Switzerland

HOME PAGE: http://https://sites.google.com/view/vera-eichenauer/home

Jan-Egbert Sturm

KOF Swiss Economic Institute, ETH Zurich ( email )

Zurich
Switzerland

HOME PAGE: http://www.kof.ethz.ch

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, 81679
Germany

HOME PAGE: http://www.cesifo.de

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