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The euro and the competitiveness of European firms

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  • Gianmarco I.P. Ottaviano
  • Daria Taglioni
  • Filippo di Mauro

Abstract

"Much attention has been paid to the impact of a single currency on actual trade volumes. Lower trade costs, however, matter over and beyond their effects on trade flows: as less productive firms are forced out of business by the tougher competitive conditions of international markets, economic integration fosters lower prices and higher average productivity. We assess the quantitative relevance of these effects calibrating a general equilibrium model using country, sector and firm-level empirical observations. The euro turns out to have increased the overall competitiveness of Eurozone firms, and the effects differ along interesting dimensions: they tend to be stronger for countries which are smaller or with better access to foreign markets, and for firms which specialize in sectors where international competition is fiercer and barriers to entry lower." Copyright (c) CEPR, CES, MSH, 2009.

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Bibliographic Info

Article provided by CEPR & CES & MSH in its journal Economic Policy.

Volume (Year): 24 (2009)
Issue (Month): (01)
Pages: 5-53

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Handle: RePEc:bla:ecpoli:v:24:y:2009:i::p:5-53

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Cited by:
  1. Timmer, Marcel & Stehrer, Robert & Los, Bart & Vries, Gaaitzen J. de, 2012. "Fragmentation, Incomes and Jobs. An analysis of European competitiveness," GGDC Research Memorandum GD-130, Groningen Growth and Development Centre, University of Groningen.
  2. Alexandra Hudson & Bas Straathof, 2010. "The Declining Impact of Exchange Rate Volatility on Trade," De Economist, Springer, vol. 158(4), pages 361-372, November.
  3. repec:hal:journl:hal-00975562 is not listed on IDEAS
  4. Emmanuel Dubois & Jerome Hericourt & Valerie Mignon, 2009. "What if the euro had never been launched? A counterfactual analysis of the macroeconomic impact of euro membership," Economics Bulletin, AccessEcon, vol. 29(3), pages 2241-2255.
  5. GIURGIU Adriana & DODESCU Anca, 2009. "Globalisation And Export Competitiveness: A Theoretical Approach," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 318-324, May.
  6. Giorgia Giovannetti & Marco Sanfilippo & Margherita Velucchi, 2011. "The “China effect” on EU Exports to OECD markets – A focus on Italy," Working Papers - Economics wp2011_17.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
  7. Peters, Katrin & Schnitzer, Monika, 2012. "Trade liberalization and credit constraints: Why opening up may fail to promote convergence," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 380, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  8. Antoine Berthou & Lionel Fontagné, 2013. "How do Multiproduct Exporters React to a Change in Trade Costs?," PSE - Labex "OSE-Ouvrir la Science Economique" hal-00975562, HAL.
  9. Georgy Ganev, 2009. "Costs and Benefits of Euro Adoption in Bulgaria," Working Paper / FINESS 5.3, DIW Berlin, German Institute for Economic Research.
  10. Massimo Del Gatto & Filippo di Mauro & Joseph Gruber & Benjamin R. Mandel, 2011. "The revealed competitiveness of U.S. exports," International Finance Discussion Papers 1026, Board of Governors of the Federal Reserve System (U.S.).

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