The Segmentation of Europe

Convergence or Divergence between Core and Periphery?

This book explores economic developments across Europe in relation to its apparent segmentation, as disparities widen between core and periphery countries. In contrast to previous literature, the scope of analysis is extended to Europe as a continent rather than confining it solely to the European Union, thereby providing the reader with greater insight into the core/periphery nexus. The authors commence with a critical appraisal of economic thinking in relation to regional trade agreements and monetary integration. In relation to a number of EU economies, the book addresses issues of a liquidity trap, deflation, and twin deficits, together with the interconnection between exchange rates and current account balances. Importantly, they extend the discussion of segmentation through a series of focused case studies on Russia, Brexit and emergence of the mega-regionals.