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Adapting the Proust Index to examine the macroeconomic variations in the European Union

Conway, Alessandro Federico (2017) Adapting the Proust Index to examine the macroeconomic variations in the European Union. Undergraduate Thesis, University of Pittsburgh.

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Abstract

The viability of the European project is coming under serious question due to a combination of persistent economic stagnation coupled with the migration crisis, which together fuel the relentless rise of anti-establishment and anti-E.U. sentiments across the continent. Is the magnitude of these crises and their obdurate resistance to progress leading the European project towards failure? One of the potential future paths of the E.U., a formal ‘two-speed’ Europe, is in the works regarding the sectors of E.U. defense and border control. If such a framework were to be applied as a solution to their economic problems, E.U. countries could target policies based on their economic performance rather than a one-size-fits-all E.U. policy. Although a current, intrinsic, ‘two-speed’ framework exists in the E.U., it encounters several difficulties (namely political will and through a form of social pressure) that undermine its success, ultimately rendering it unconvincing. I develop an alternative approach based solely on economic performance by adapting the Proust Index, a macroeconomic index originally devised by The Economist which aggregates seven indicators. This analysis firstly reveals clearly divergent patterns of economic trends within the E.U. In the context of a ‘two-speed’ Europe, it then provides a set of hypothetical 'definitions' along which E.U. member-states could be divided, something largely missing or at best vague in the few instances it appears in official statements and in economic literature. Ultimately, because the significant gap in performance between the two groups is increasing, this thesis suggests that urgent action needs to be taken to address it whichever option the E.U. chooses for its future.


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Details

Item Type: University of Pittsburgh ETD
Status: Published
Creators/Authors:
CreatorsEmailPitt UsernameORCID
Conway, Alessandro Federicoafc23@pitt.eduafc230000-0002-7201-1775
ETD Committee:
TitleMemberEmail AddressPitt UsernameORCID
Committee CoChairHagerty, Bernardkazuo@pitt.edukazuo
Committee MemberMarolda, Gemmamarolda@pitt.edumarolda
Committee MemberMaloy, Jamesmaloy@pitt.edymaloy
Committee MemberCucculelli, Marcom.cuccuellli@staff.univpm.it
Date: 7 August 2017
Date Type: Publication
Defense Date: 17 July 2017
Approval Date: 7 August 2017
Submission Date: 6 August 2017
Access Restriction: No restriction; Release the ETD for access worldwide immediately.
Number of Pages: 44
Institution: University of Pittsburgh
Schools and Programs: Dietrich School of Arts and Sciences > Economics
University Honors College
Degree: BPhil - Bachelor of Philosophy
Thesis Type: Undergraduate Thesis
Refereed: Yes
Uncontrolled Keywords: two-speed Europe; EU; multi-speed Europe; two-tier EU; macroeconomics; EU studies; Proust Index
Date Deposited: 07 Aug 2017 15:10
Last Modified: 15 Aug 2017 19:34
URI: http://d-scholarship.pitt.edu/id/eprint/33005

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