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Austria’s Manufacturing Competitiveness

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Author Info

  • Christian Ragacs

    ()
    (Oesterreichische Nationalbank, Economic Analysis Division)

  • Beate Resch

    ()
    (Oesterreichische Nationalbank)

  • Klaus Vondra

    ()
    (Oesterreichische Nationalbank, Economic Analysis Division)

Abstract

This study discusses Austria’s manufacturing competitiveness and its influence on changes in the export market shares of domestic manufacturers. We first analyze price competitiveness over time and then conduct a constant-market-shares analysis in order to attribute changes in the export market shares of domestic manufacturers to their competitiveness on the one hand and international demand patterns on the other. Austria’s manufacturing industry seized the opportunity to expand to the east when the markets in Central, Eastern and Southeastern Europe (CESEE) opened up. Against this backdrop, domestic manufacturers were able to improve their price competitiveness between 1995 and 2004. They also gained export market shares from 2000 onward but lost some ground in 2005 and 2006. Since then, market shares and price competitiveness have remained broadly unchanged, which means that Austria has in fact done better than most other euro area countries. By historical comparison, the impact of the financial and economic crisis on Austrian manufacturers’ export market shares and their competitiveness remained limited.

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File URL: http://www.oenb.at/dms/oenb/Publikationen/Volkswirtschaft/Monetary-Policy-and-the-Economy/2011/Monetary-Policy-and-the-Economy-Q3-11/chapters/mop_2011_q3_analyses03_ragacs_tcm16-241428.pdf
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Bibliographic Info

Article provided by Oesterreichische Nationalbank (Austrian Central Bank) in its journal Monetary Policy & the Economy.

Volume (Year): (2011)
Issue (Month): 3 ()
Pages: 35–61

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Handle: RePEc:onb:oenbmp:y:2011:i:3:b:3

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Related research

Keywords: international competitiveness; Austrian manufacturing; CMSA;

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References

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  1. Widodo, Tri, 2010. "Market Dynamics in the EU, NAFTA, North East Asia and ASEAN: the Method of Constant Market Shares (CMS) Analysis," Journal of Economic Integration, Center for Economic Integration, Sejong University, Center for Economic Integration, Sejong University, vol. 25, pages 480-500.
  2. Hans-Werner Sinn & Karlhans Sauernheimer & Tobias Seidel & Rolf Ackermann & Michael Pflüger & Nikolaus Piper & Johann Hahlen & Peter Bernholz & Michael Schmid, 2006. "Der pathologische Exportboom These und Stellungnahmen," Ifo Schnelldienst, Ifo Institute for Economic Research at the University of Munich, Ifo Institute for Economic Research at the University of Munich, vol. 59(01), pages 03-32, 01.
  3. Harald Badinger & Fritz Breuss, 2006. "Country Size and the Gains from Trade Bloc Enlargement: an Empirical Assessment for the European Community," Review of International Economics, Wiley Blackwell, Wiley Blackwell, vol. 14(4), pages 615-631, 09.
  4. Johannes Pöschl & Robert Stehrer & Roman Stöllinger, 2009. "Characteristics of exporting and non-exporting firms in Austria," FIW Research Reports series, FIW II-001, FIW.
  5. Christian Ragacs & Klaus Vondra, 2009. "Austria’s Exports to Eastern Europe: Facts and Forecasts Likely Impact of Slowing Exports on Growth in Austria," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 29–43.
  6. Milana, Carlo, 1988. "Constant-market-shares analysis and index number theory," European Journal of Political Economy, Elsevier, Elsevier, vol. 4(4), pages 453-478.
  7. Uwe Dulleck & Neil Foster-McGregor & Robert Stehrer & Julia Wörz, 2004. "Dimensions of Quality Upgrading in CEECs," wiiw Working Papers, The Vienna Institute for International Economic Studies, wiiw 29, The Vienna Institute for International Economic Studies, wiiw.
  8. Richardson, J David, 1971. "Some Sensitivity Tests for a 'Constant-Market-Shares' Analysis of Export Growth," The Review of Economics and Statistics, MIT Press, vol. 53(3), pages 300-04, August.
  9. Tadashi Ito & Toshihiro Okubo, 2011. "New Aspects of Intra-Industry trade: Evidence from EU-15 countries," Discussion Paper Series, Research Institute for Economics & Business Administration, Kobe University DP2011-02, Research Institute for Economics & Business Administration, Kobe University.
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Cited by:
  1. Sebastian Essl & Alfred Stiglbauer, 2011. "Prevention and Correction of Macroeconomic Imbalances: the Excessive Imbalances Procedure," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), Oesterreichische Nationalbank (Austrian Central Bank), issue 4, pages 99–113.

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