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The unequal distribution of economic activities, transposed in economic, social and territorial disparities is the general characteristic of the European economy. Gaps increased in the context of European Union (EU) enlargement towards Eastern and Central Europe and of the economic crisis, thus bringing new differentiations among member states’ economies. The main aim of the chapter is to emphasise the centre-periphery differentiations in the European economy, by using a composite index of peripherality, in order to better understand the determinants of growth and convergence in Central and Eastern European countries and to reach normative conclusions for increasing Cohesion Policy (CP) effectiveness. The first part of the chapter provides a short overview of the main theories and models of the peripherality analysis and the relationships between the centre and the periphery, in order to find out how this analysis relates to the research in the field. The second part provides a comparative analysis of the evolution of European economies during 2003–2014, in order to find out whether the EU enlargement process stabilised the EU core-periphery pattern or, on the contrary, the process of core-periphery structural convergence occurred. The third part includes the suggested model of analysis (methodology, data, and main results) from a multidisciplinary perspective, underlining the centre-periphery differentiations on the two axes, North–South and West–East. The results have been interpreted in conclusions, with a focus on their relevance for the European CP challenges.

The last enlargements of the European Union (EU) shifted the geographical focus of the periphery from the south to the east, upgrading the position of many southern European countries and regions, which were already in a process of convergence with the EU average. The current financial/economic crisis, however, which has particularly hit southern European countries, revitalized the traditional core-periphery division, known as the North-South divide. In parallel, the relocation of economic activity (industrial production and services) within the EU territory, from western-core countries to the eastern periphery, raised the competitiveness and economic significance of many areas in the new, vis-a-vis the old, periphery, leading to the emergence of a number of new centres in its metropolitan regions. A number of questions are raised in the context of the above development, such as: Which factors underlie the differences in growth paths and ‘resilience’ between the eastern vis-à-vis the southern periphery? How important has the industrial relocation from the West to the East been? And what has been the general impact of the EU’s Cohesion Policy? What would the implications of a possible further expansion towards the EU’s ‘Eastern Neighbours’ be on its core-periphery pattern? This chapter approaches critically some of the above issues, adopting a qualitative methodology with the use of graphical presentations. In its conclusions, the chapter examines the appropriateness of the new economic geography’s theoretical interpretation.

“It should also be noted that the objective of convergence and equal distribution, including across under-performing areas, can hinder efforts to generate growth. Contrariwise, the objective of competitiveness can exacerbate regional and social inequalities, by targeting efforts on zones of excellence where projects achieve greater returns (dynamic major cities, higher levels of general education, the most advanced projects, infrastructures with the heaviest traffic, and so on). If cohesion policy and the Lisbon Strategy come into conflict, it must be borne in mind that the former, for the moment, is founded on a rather more solid legal foundation than the latter” European Commission (2005, p. 9)Adaptation of Cohesion Policy to the Enlarged Europe and the Lisbon and Gothenburg Objectives.

Autonomous and connected mobility technologies have led to a reconfiguration of the automotive industry value chain. This may involve an impact on the geography of the European automotive industry, especially for peripheral countries. The aim of the paper is to analyse the repositioning of a peripheral country (Portugal) in the core-periphery model of the automotive industry derived from this new technological context.

An eclectic theoretical framework, based on the global value chain (GVC) approach, the spatial division of labour and location theory, supports this research. Moreover, an original empirical study was developed. This study comprised a comparative analysis of two samples of firms based on the key variables related to country position. One sample comprised Portuguese traditional automotive firms and the other Portuguese firms linked to autonomous and connected mobility technologies.

The results highlight the upgrading of Portugal in the European core-periphery model of the automotive industry. This is due to the presence of domestic firms, especially multinationals, linked to autonomous and connected mobility technologies in the country. The decision power derived from their position on the first levels of supply and the added value of activities and technological innovation of these new actors change the role of the country in the European automotive industry. The main implication is that managers of domestic firms and policy makers in peripheral countries can upgrade a country’s position in the European core-periphery model by shifting its competitiveness toward knowledge-based activities linked to the new mobility technologies.

This research is supported by a novel eclectic theoretical framework based on the global value chain (GVC) approach, the spatial division of labour and location theory. Moreover, country position is analysed through empirical evidence. An original comparative empirical study based on the key variables defined under this theoretical framework was developed.

The recent European crisis has raised a number of concerns among economists about the persistence of significant productive and competitiveness differences across national economies within the European Union (EU). Such differences can be seen as both a major root cause underlying the crisis and as an important factor explaining the current political difficulties within the EU.

The big divide between core and periphery is taken into account in this chapter, which focuses on the processes of structural transformation in the European periphery. We intend to contribute to a better understanding of structural changes in Europe and of their potential impact on future growth prospects and overall convergence/divergence dynamics.

A comparison of the experiences of two groups of peripheral countries is undertaken, based on a sample of old member states of Southwestern Europe and of new member states of Eastern Europe. A descriptive analysis is made of the trends occurred in the structure of production, employment and trade, examining this evidence in the light of technology and skill-based industrial classifications. Comparisons are made for both the pre and post-crisis periods.

Changes in the economic structure towards more skill- and technology-intensive sectors were relatively modest in Southwest Europe, whereas they increased rapidly in Eastern Europe. Notwithstanding, both groups of countries have experienced a strong deterioration of the growth dynamics after 2008, which seems to reflect the strong emphasis of economic policy on financial market stabilisation and a relative neglect of policies targeted to the recovery of investment and to the reinforcement of exporting capacities.

The solution to overcome economic retardation requires inevitably export-led growth and the building up of a more competitive economy. This, in turn, requires the design of an adequate industrial policy.

The purpose of this paper is to review monetary policy options in countries assumed to be suffering from two common economic problems: deficient private demand and high and rising public debt.

The analytical approach assumes that relevant authorities have decided that new money creation is necessary to address their economic problems. The paper asks the question: how should this new money creation best be deployed to create the required economic stimulus in the context of rising public debt?

The first finding is that the latest rounds of “quantitative easing” in the USA (QE2) and Japan are likely to be inefficient, largely ineffective and have adverse side‐effects, and that in periphery countries the risk of debt default is being increased by current defensive policy settings. The second finding is that the policy of financing budget deficits by printing new money is likely to be more effective (than “quantitative easing” and current Eurozone policy) in raising demand, output and employment without adding unnecessarily to already high levels of public debt.

There are very substantial practical policy implications, involving a potential change of monetary policy strategies for two of the world's largest economies and for Eurozone periphery countries. Post‐earthquake reconstruction in Japan could be financed in the manner recommended in this paper.

The originality/value lies in demonstrating that current monetary policy orthodoxy is misplaced, and that an alternative policy strategy has been overlooked and is likely to be more effective.

The purpose of this paper is to compare homelessness policies in Portugal and Greece.

After a brief overview of the relationship between welfare regimes and homelessness, the characteristics of homelessness policies within the South-European regime are studied. Subsequently, by employing empirical data, a comparison between the homelessness policies of these two countries is attempted through three axes of analysis: the historical emergence of homelessness policies; the impact of the memoranda, as a series of fiscal measures associated with welfare retrenchment, on the deterioration of homelessness; and the characteristics of the social policies being developed.

It is noted that the two countries consolidate a residual social intervention model that fails to address homelessness adequately.

This is the first attempt to compare homelessness policies between Portugal and Greece.

The era of austerity that has followed the outbreak of the global financial crisis has posed a myriad of challenges for public services, with demands for major cuts in government spending, the delivery of balanced budgets and zstrategies for deficit reduction. The purpose of this paper is to consider how public sector accounting and accountability systems are implicated in the development and implementation of austerity policies. Also, it pinpoints a range of issues that accounting researchers need to be contemplating on the subject of accounting for austerity.

Interdisciplinary literature review, coupled with an illustrative discussion of the changing nature of public sector accounting practices under austerity.

Despite the significance and scale of austerity, public sector accounting research on the topic is in its infancy, with the prominent focus being on how accounting technologies are used to manage austerity. There have been few attempts to debate critically the construction of austerity and to provide alternative accounts of austerity. Accounting for austerity, especially in terms of its implications and consequences, is far too complex and challenging to be categorized as simply seeking to “balance the books”.

As an academic community, we need to be developing understanding of public sector accounting research under austerity across different organizational levels and contexts. Also, we should be framing the accounts of austerity in ways that respect and build on a sound understanding of the extensive available interdisciplinary research on this topic. Key research questions to address include: how is accounting shaping constructions of, and impressions, attitudes and behaviors toward, austerity and the status of governments and public service organizations? What do such patterns of development mean for the roles and contributions of public sector accountants under austerity? Are accounting systems destined to be used primarily as vehicles for cost-cutting, or can they be used as engines for growth and for thinking about public service responsibilities in more socially inclusive forms?

Accountings of austerity in the field of public sector accounting research have been worryingly limited. This paper and the papers in this special issue of AAAJ address such failings, revealing a range of critical implications and challenges of austerity policies for public sector accounting research.