Sectoral Specialization and Export Orientation of European Union Countries and Regions in the Period of Crisis

Abstract

In this study sectoral specialization of European Union countries and regions in the current period of crisis is analyzed. As a result, groups of countries shall emerge based on which the real developmental archetypes of European space will be shaped. The distinction does not lie on the traditional axis (of favored) North – (less favored) South, but mainly, on the under configuration axis (of favored) West – (less favored) East. As a result, the regions of Europe that specialize in dynamic sectors of economic activity shall be located. These regions demonstrate comparative advantages, which give rise to export capacities as well. Moreover the intertemporal analysis of indicators shall exhibit the great contribution of sectoral composition in relation to the general socioeconomic basis along with the structural characteristics of countries and regions, which are fundamental for the developmental process.