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Title:Why Europe will suffer more PDF Logo
Authors:Gros, Daniel
Alcidi, Cinzia
Issue Date:2009
Citation:[Journal:] Intereconomics [ISSN:] 1613-964X [Publisher:] Springer [Place:] Heidelberg [Volume:] 44 [Year:] 2009 [Issue:] 4 [Pages:] 255-260
Abstract:Europeans have a tendency to call the financial crisis a US problem, or a crisis precipitated by the Anglo-Saxon model. The data suggest otherwise. Moreover, the corporate sector in Europe has a much lower capacity to finance investment from internal sources of funds, which implies that a recovery of investment in Europe will be much more difficult than in the USA, as long as the banking sector remains weakened by excessive levels of leverage. The cost of the crisis could thus be much larger in Europe than in the USA.
Persistent Identifier of the first edition:doi:10.1007/s10272-009-0303-1
Document Type:Article
Appears in Collections:Intereconomics - Review of European Economic Policy

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