Although the Great Recession is a global phenomenon, with roots outside the European Union (EU), its impact has been deeper and longer lasting in the EU than elsewhere. However, the impact of the Great Recession has not been the same in all the European countries. The objective of this chapter is to analyse the different effects of the economic and financial crisis among the European Union member states, focusing on the behaviour of a number of real and financial variables since the year 2003 to evaluate the impact of the crisis. Thus, we will analyse the performance of 17 economic variables grouped into seven categories: economic activity, labour market, income distribution, inflation, balance of payments, public finances, and financial balance sheets of total economy and sectors.
|Title of host publication||Financialisation and the Financial and Economic Crises: Country Studies|
|Editors||Eckhard Hein, Daniel Detzer, Nina Dodig|
|Place of Publication||Cheltenham|
|Publisher||Edward Elgar Publishing Ltd.|
|Number of pages||22|
|Publication status||Published - 2016|
|Name||New Directions in Modern Economics|
Carrasco, C. A., Ferreiro, J., Gálvez, C., Gómez, C., & González, A. (2016). The Impact of the Financial and Economic Crisis on European Union Member States. In E. Hein, D. Detzer, & N. Dodig (Eds.), Financialisation and the Financial and Economic Crises: Country Studies (pp. 299-320). (New Directions in Modern Economics). Cheltenham: Edward Elgar Publishing Ltd..