*** MARK BAIMBRIDGE, PHILIP WHYMAN (Eds.): Economic and Monetary Union in Europe. Theory, Evidence and Practice. Edward Elgar Publishing Ltd (Glensanda House, Montpellier Parade, Cheltenham Glos, GL50 1 UA, UK. Tel: (44-12) 42226934 - Fax: 42262111 - Internet: http://www.e-elgar.com ). 2003, 192 pp. £45. ISBN 1-84064-092-8.
The European project is the subject of a whole series of books, often attempting to cover a broad domain. The authors of this particular book have, however, decided to only look at Economic and Monetary Union. It is true that EMU is unprecedented in history in that other examples of economic and monetary union were accompanied by an equally strong political union. It is also an undertaking whose still rather hazy consequences give rise to divided views. It is not simply the use of a common currency but also involves, and this will continue to increase, a huge number of parameters like, for example, the role of the European Central Bank in setting interest rates, and Member States' fiscal policy. The same applies outside the eurozone where it has a great influence on the countries of central and Eastern Europe, raising the financial prestige of countries in EMU with regard to the dollar and yen, and changes the relationship between the dollar and yen and third world countries exporting to the EU.
The book opens with assessing the theory of monetary integration. The first chapter of this section outlines and comments on the different theories that have arisen since the 1960s with Mundell and the theory of the optimum monetary zone. The second chapter highlights the challenges to be faced by EMU with regard to the Stability and Employment Pact. The next section looks at the historical precedents, with the success of EMU depending on its ability to learn the lessons of past cases. It considers the Scandinavian experience from 1875-1914 and German monetary union following reunification. The third section of the book considers the huge impact of EMU on the policies of the states involved in it, looking at the impact, for example, of the Maastricht Treaty on states' budget capacities, the vital role of budget policy and the challenges to be met by monetary policy like price stability and resisting financial and monetary shocks. The last part looks at EMU's influence on external relations. The impact on the countries which chose not to take part in EMU (and also Norway and Switzerland) and trade relations with the United States were covered in other publications so this book highlights less publicised consequences like the impact on countries in the East and the impact on global trade.
Each of the book's ten chapters was written by a different author, with Baimbridge and Whyman ensuring in their compilation that no one point of view dominates, hence lessening the risk of a partisan approach, such approaches being a danger to researchers looking at areas they have chosen through personal preference. This plurality of viewpoints combined with an analysis of the various theories of monetary union and the optimum monetary zone, along with an outline of the consequences of EMU makes the book extremely interesting for people studying the European project or financial systems.
Frederik Ronse
*** MARIA JOAO RODRIGUES: European Policies for a Knowledge Economy. Edward Elgar Publishing (Glensanda House, Montpellier Parade, Cheltenham, Glos GL50 1UA, UK. Tel: (44-1242) 226934 - Fax: 262111 - e-mail: info@e-elgar.co.uk - Internet: http://www.e-elgar.com ). 2003, 169 pp. ISBN 1-84064-977-1.
The indefatigable Maria Joao Rodrigues, closely associated with the Lisbon Process ever since its initiation, as a special advisor to the then Portuguese prime minister, Antonio Guterres, draws up a preliminary balance sheet in this book of the strategy launched at the last Lisbon European Council. She asserts that developments in the information society are one of the best examples of the concrete progress we can note, but admits that a knowledge based society is more than an information society. Maria Joao Rodrigues does not overlook failings in the implementation of the Lisbon Strategy four years after its launch, but prefers to take a voluntarist and positive approach rather than lamenting and resigning herself to lack of progress. Among good examples she includes progress in the social domain, noting that taking inspiration from the experience of the Luxembourg process for employment policy, the open coordination method is now being applied to social inclusion policy with all Member States now having national plans for combatting social exclusion in both its old and its new forms. Which tends to demonstrate that Lisbon is not only companies but also citizens… Setting this mid-term structural reform strategy against a backdrop of globalisation, the author warns that its success will also depend on a better informed and more involved civil society and public opinion. And this is one of the aims of this book, explains Ms Rodrigues, calling on the European Union's new Member States to look on the Lisbon Strategy as an opportunity to catch up, rather than an extra difficulty. (MG)
*** NORBERT GEIGER: Globalisierung, Integration und effiziente Finanzpolitik in Europa. Zur Aufgabenverteilung zwischen der Europäischen Union und den EU-Mitgliedstaaten aus allokativer Sicht. Peter Lang (1 Moosstrasse, Postfach 350, CH-2542 Pieterlen, Switzerland. Tel: (41-32) 3761717 - Fax: 3761727 - e-mail: publicity@peterlang.com - Internet: http: //http://www.peterlang.de ). "Europäische Hochschulschriften - European University Studies - Publications Universitaires Européennes", No. 2987. 2003, 380 pp. ISBN 3-631-50934-0.
This doctoral thesis by a German economist and lawyer from Munich examines fiscal, budget and financial policy in Europe. Competition between national economies and the European economy, the mobility of workers and capital, and the division of economic and fiscal powers between the EU and its Member States are considered from both a theoretical viewpoint and in terms of economics. In his conclusions, the author suggests renationalising the Common Agricultural Policy, replacing the Regional and Cohesion Policies with an EU financial redistribution system reforming taxation of capital, and introducing new EU taxes to fund reform of the Community. A book blending prevailing ideas in certain German circles, but considered in highly academic manner. (PB)
*** HARALD BADINGER: Wachstumseffekte der Europäischen Integration. Springer Verlag KG (4-6 Sachsenplatz, A-1201 Vienna. Tel: (43-1) 3302415-0 - Fax: 3302426 - e-mail: books@springer.at - Internet: http: //http://www.springer.at ). "Forschungsinstitut für Europafragen der Wirtschaftsuniversität Wien", No. 21. 2003, 235 pp. ISBN 3-211-83860-0.
The impact of the European project in terms of additional growth and increased Gross Domestic Product are the subject of this academic monograph based on a doctoral thesis for Vienna Business University's Institute of European Studies. Beyond the famous Cecchini report, Harald Badinger takes an empirical and econometric approach, using various economic theory models of growth and a range of basic indicators, to considers the influence of integration and the internal market on the economies of the European Union. He concludes that without European economic integration, average GDP per inhabitant of the fifteen state EU would have been around 25% lower than it is. An extremely interesting study, both complex and concise, recommended reading for anyone interested in the economic bases of the European project.
(PB)
*** LYDIA KOCAR: Globale Ökonomie und nationale Politik. Die Forschungs- und Technologiepolitik der EU. Peter Lang (see above). "Arbeit - Technik - Organisation - Soziales" series, No. 18. 2003, 275 pp.. ISBN 3-631-50797-6.
Globalisation, governance and innovation, relations and interdependency between these three social and economic phenomena and the role of the nation state and other international and private players are examined in this academic monograph by a young social economist from Osnabruck University in Germany. She takes the European research and technology policy as a key example to study, making use of various cybernetic currents arising from the systems theory and the theory of action as her theoretical framework.
(PB)
*** BETTINA SOPHIE RUDLOFF: Nationaler Verbraucherschutz und internationaler Handel. Grenzen und Möglichkeiten neoklassischer Theorieansätze zur Beurteilung von Konfliktpotenzialen am Beispiel des WTO-Streits zum Hormonfleisch zwischen der EU und den USA. Peter Lang (see above). "Europäische Hochschulschriften - Publications Universitaires Européennes - European University Studies", No. 2942. 2003, 309 pp. ISBN 3-631-39777-1.
European consumer protection through EU and national legislation often gives rise to international trade battles. In her doctoral thesis for Bonn University, young agronomist Bettina Sophie Rudloff analyses in detail the role of consumer protection in neoclassial economic theory, illustrating theoretical results with concrete cases of trade conflicts between the United States and the European Union regarding hormone-treated beef. Despite her scientific, theoretical and sometimes mathematical approach, the book stands out since it is supplemented by a lot of very useful tables, an exhaustive and practical annex and an analysis of consumer protection disputes submitted to the World Trade Organisation. The book is aimed at specialists, but contains very useful information for people interested in measures in favour of consumer protection in international trade and the globalised economic order.
(PB)
*** MICHAEL W. SCHRÖTER: Lebensmittelrechtliche Vorsorge als Rechtsprinzip -nationale, europäische und welthandelsrechtliche Aspekte. Zentrum für Europäische Rechtspolitik an der Universität Bremen (Universitätsallee, GW 1, D-28359 Bremen)."ZERP-Diskussionspapier", No. 4/2002. 2002, 57 pp, 8 euros.
The precautionary principle stands at the heart of trade disputes between the European Union and the United States - as shown by hormone-treated beef and genetically modified organisms. Michael Schröter considers the juridical principle from the viewpoint of food law and various juridical orders. In this short brochure published by Bremen University's Centre for European Juridical Policy, the author examines the theory of principles in law, the role of the precautionary principle in German food and environmental law and in EU law, and ends with an analysis of reports and decisions of the World Trade Organisation with regard to the precautionary principle, focussing on the case of hormone-treated beef. Michael Schröter concludes that legal principles are becoming ever more important for jurisprudence, but that at the same time, they are ill defined and are sometimes the subject of a degree of politicisation. An excellent, brief study of a basic principle often described as protectionist in the context of the European Union's external trade relations.
(PB)
*** MARC LAFFINEUR: La Conférence de Cancún: un échec salutaire pour l'OMC ? Délégation pour l'Union européenne de l'Assemblée nationale (Kiosque de l'Assemblée nationale, 4 rue Aristide Briand, F-75007 Paris. Tel: (33-1) 40636121 - Internet: http://www.assemblee-nationale.fr ). "Les documents d'information de l'Assemblée nationale", No. 1210. 2003, 191 pp, 5 euros. ISBN 2-11-117028-3.
Did the collapse of the Cancun Conference mark the end of the Doha Round? This is the question that French parliamentarian Marc Laffineur answers in this book - saying no it didn't and the stances taken in recent days confirm the pertinence and his assessment. Initially, he analyses the attitude taken by players from the South who have played a determining role but whose motivations are complex, with the European Union being torn between ambition and pragmatism, and the United States with their call for an opening of markets sometimes being contradicted by the facts. He then reviews the agenda, from the agricultural 'abscess' to the lost opportunity to lower industrial tariffs, via the logical but regrettable mistrust with regard to the Singapore issues. In the second half of the book, the author considers reasons to be cheerful, gravitating around the impossible exclusion of the WTO, an organisation which can certainly be improved, but which the author sees as irreplaceable. After calling for a European trade policy that is resolutely multilateral and integrated, Marc Laffineur suggests making a commitment to positive discrimination to help countries in the South and a well-managed liberalisation of trade. He asserts that this round will not be a round of shared development unless negotiators agree to 'sanctuarise' certain areas in the name of the general interest. (MT)