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| Title: | | On the multivariate analysis of the Lisbon process  |
| 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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