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Industrielle Konzentration als Kriterium für die Geeignetheit eines einheitlichen Währungsraums. Eine empirische Untersuchung der Europäischen Union von 1972 bis 1996 / Industrial Agglomeration as a Criterion for the Appropriateness of a Common Currency Area. An Empirical Analysis for the Years between 1972 and 1996

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  • Rübel Gerhard

    (Universität Passau, Lehrstuhl für Volkswirtschaftslehre, Geld und Außenwirtschaft, Innstraße 27, D-94032 Passau)

  • Klüver Anja

    (Universität Passau, Lehrstuhl für Volkswirtschaftslehre, Geld und Außenwirtschaft, Innstraße 27, D-94032 Passau)

Abstract

Using empirical tests on 52 industrial sectors, this paper shows that industrial agglomeration has increased significantly in Europe since 1972. However, important differences can be observed between the sectors. These differences suggest that discrepancies between EU countries - which are emphasised as the Union becomes more integrated - cannot primarily be explained by economies of scale but could be explained by classic Heckscher-Ohlin theory. If so, the European Union is increasingly vulnerable to external asymmetric shocks: while integration progresses, the EU decreasingly fulfills the criteria of an optimal currency area.

Suggested Citation

  • Rübel Gerhard & Klüver Anja, 2001. "Industrielle Konzentration als Kriterium für die Geeignetheit eines einheitlichen Währungsraums. Eine empirische Untersuchung der Europäischen Union von 1972 bis 1996 / Industrial Agglomeration as a C," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 221(1), pages 68-86, February.
    • Handle: RePEc:jns:jbstat:v:221:y:2001:i:1:p:68-86
    DOI: 10.1515/jbnst-2001-0106
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    References listed on IDEAS

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    1. Frankel, Jeffrey A & Rose, Andrew K, 1998. "The Endogeneity of the Optimum Currency Area Criteria," Economic Journal, Royal Economic Society, vol. 108(449), pages 1009-1025, July.
    2. David Greenaway & Robert C. Hine, 1991. "Intra‐Industry Specialization, Trade Expansion and Adjustment in the European Economic Space," Journal of Common Market Studies, Wiley Blackwell, vol. 29(6), pages 603-622, December.
    3. Masson,Paul R. & Taylor,Mark P. (ed.), 1993. "Policy Issues in the Operation of Currency Unions," Cambridge Books, Cambridge University Press, number 9780521434553, January.
    4. Berthold, Norbert, 1992. "Europa nach Maastricht - sind die währungspolitischen Fragen gelöst?," Wirtschaftsdienst – Zeitschrift für Wirtschaftspolitik (1949 - 2007), ZBW - Leibniz Information Centre for Economics, vol. 72(1), pages 23-28.
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