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Title:On the multivariate analysis of the Lisbon process PDF Logo
Authors:Tausch, Arno
Heshmati, Almas
Bajalan, Chemen S.J.
Issue Date:2007
Series/Report no.:IZA Discussion Papers 3198
Abstract:Starting from Professor Kornai's assertion about the necessity to focus on the long-term perspectives of the transformation process, we analyze in this paper the Lisbon performance of the countries of the European Union from such a long-term, structural perspective. We present in a simple form the mathematical methods used in this essay. Then, we analyze Lisbon indicator performance by factor analytical means. We conclude that only a Schumpeterian vision of capitalism as a process of creative destruction - or rather - destructive creation can explain these contradictions, which we empirically reveal in this analysis, and which beset the Lisbon process from the very beginning. Our factor analysis tells us that a majority of the kernel Lisbon indicators go indeed hand in hand with high comparative price levels; high freight transport; high greenhouse gas emissions; low business investment rates; and low youth educational attainment rates. We conclude that in reality we are facing four underlying and contradictory processes including a Lisbon productivity factor; high eco-social exclusion; the employment performance; and the neo-liberal European model.
Subjects:Index numbers and aggregation
cross-sectional models
spatial models
economic integration
regional economic activity
international factor movements
international business
international relations
international political economy
JEL:C43
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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