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Competitiveness in the Southern Euro Area; France, Greece, Italy, Portugal, and Spain

Author

Listed:
  • Bogdan Lissovolik
  • Julio Escolano
  • Stefania Fabrizio
  • Werner Schule
  • Herman Z Bennett
  • Stephen Tokarick
  • Yuan Xiao
  • Marialuz Moreno Badia
  • Eva Gutierrez
  • Iryna V. Ivaschenko

Abstract

This collection of studies analyzes developments in nonprice external competitiveness of France, Greece, Italy, Portugal, and Spain. While France, Italy, and Portugal have experienced substantial export market share losses, Greece and Spain performed relatively well. Export market share losses appear associated with rigidities in resource allocation (sectoral, geographical, technological) relative to peers and lower productivity gains in high value-added sectors. Disaggregated analysis of goods and services export markets provides insights on aspects such as quality, market concentration, growth of destination markets, and geographical and sectoral diversification. Also, increased import penetration, offshoring and FDI could improve productivity and export performance.

Suggested Citation

  • Bogdan Lissovolik & Julio Escolano & Stefania Fabrizio & Werner Schule & Herman Z Bennett & Stephen Tokarick & Yuan Xiao & Marialuz Moreno Badia & Eva Gutierrez & Iryna V. Ivaschenko, 2008. "Competitiveness in the Southern Euro Area; France, Greece, Italy, Portugal, and Spain," IMF Working Papers 08/112, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:08/112
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    References listed on IDEAS

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    1. Menzie Chinn, 2006. "A Primer on Real Effective Exchange Rates: Determinants, Overvaluation, Trade Flows and Competitive Devaluation," Open Economies Review, Springer, vol. 17(1), pages 115-143, January.
    2. Tamim Bayoumi & Jaewoo Lee & Sarma Jayanthi, 2006. "New Rates from New Weights," IMF Staff Papers, Palgrave Macmillan, vol. 53(2), pages 1-4.
    3. Ian Marsh & Stephen Tokarick, 1996. "An assessment of three measures of competitiveness," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 132(4), pages 700-722, December.
    4. Pierre-Richard Agénor, 1995. "Competitiveness and External Trade Performance of the French Manufacturing Industry," IMF Working Papers 95/137, International Monetary Fund.
    5. J. Peter Neary, 2006. "Measuring Competitiveness," The Economic and Social Review, Economic and Social Studies, vol. 37(2), pages 197-213.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Florian Verheyen, 2015. "The role of non-price determinants for export demand," International Economics and Economic Policy, Springer, vol. 12(1), pages 107-125, March.
    2. Ruo Chen & Gian M Milesi-Ferretti & Thierry Tressel, 2012. "External Imbalances in the Euro Area," IMF Working Papers 12/236, International Monetary Fund.
    3. Nicos Christodoulakis & Vassilis Sarantides, 2017. "External Asymmetries in the Euro Area and the Role of Foreign Direct Investment," The World Economy, Wiley Blackwell, vol. 40(2), pages 393-423, February.
    4. Athanasoglou, Panayiotis, 2011. "The role of product variety and quality and of domestic supply in foreign trade," MPRA Paper 32034, University Library of Munich, Germany.
    5. Jacopo Costa & Roberto Ricciuti, 2013. "Sources for the Euro Crisis: Bad Regulation and Weak Institutions in Peripheral Europe," Working Papers 15/2013, University of Verona, Department of Economics.
    6. Bruno Ducoudré & Éric Heyer, 2014. "Baisse de l'euro et désinflation compétitive. Quel pays en profitera le plus ?," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(5), pages 221-253.
    7. Florence Jaumotte & Piyaporn Sodsriwiboon, 2010. "Current Account Imbalances in the Southern Euro Area," IMF Working Papers 10/139, International Monetary Fund.
    8. Nicholas Crafts, 2013. "Long-Term Growth in Europe: What Difference does the Crisis Make?," National Institute Economic Review, National Institute of Economic and Social Research, vol. 224(1), pages 14-28, May.
    9. Xavier Timbeau, 2014. "Le piège de la déflation : Perspectives 2014-2015," Sciences Po publications info:hdl:2441/c6c7hcjgm91, Sciences Po.
    10. Kriwoluzky, Alexander & Müller, Gernot J. & Wolf, Martin, 2015. "Exit Expectations and Debt Crises in Currency Unions," IWH Discussion Papers 18/2015, Halle Institute for Economic Research (IWH).
    11. Garcimartin, Carlos & Kvedaras, Virmantas & Rivas, Luis, 2016. "Business cycles in a balance-of-payments constrained growth framework," Economic Modelling, Elsevier, vol. 57(C), pages 120-132.
    12. Crafts, Nicholas, 2012. "Western Europe's Growth Prospects: an Historical Perspective," CEPR Discussion Papers 8827, C.E.P.R. Discussion Papers.
    13. Bruno Ducoudré & Eric Heyer, 2014. "Baisse de l'euro et désinflation compétitive," Post-Print hal-01093016, HAL.
    14. Comunale, Mariarosaria, 2014. "Long-run determinants and misalignments of the real effective exchange rate in the EU," MPRA Paper 59571, University Library of Munich, Germany, revised Sep 2014.
    15. Hartmut Egger & Etzel Daniel & Hagen Lesch & Holger Zernanek & Christoph Moser, 2011. "Braucht Europa eine Koordinierung der nationalen Lohnpolitiken?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 64(02), pages 03-15, February.
    16. Jules Leichter & Cristina Mocci & Stefania Pozzuoli, "undated". "Measuring External Competitiveness:An Overview," Working Papers 2, Department of the Treasury, Ministry of the Economy and of Finance.
    17. Kriwoluzky, Alexander & Müller, Gernot & Wolf, Martin, 2013. "Currency Risk in Currency Unions," CEPR Discussion Papers 9635, C.E.P.R. Discussion Papers.

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