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

Author

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

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

    as
    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. 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.
    3. Pierre-Richard Agénor, 1997. "Competitiveness and external trade performance of the French manufacturing industry," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 133(1), pages 103-133, March.
    4. Marc Klau & San Sau Fung, 2006. "The new BIS effective exchange rate indices," BIS Quarterly Review, Bank for International Settlements, March.
    5. J. Peter Neary, 2006. "Measuring Competitiveness," The Economic and Social Review, Economic and Social Studies, vol. 37(2), pages 197-213.
    6. International Monetary Fund, 2005. "New Rates from New Weights," IMF Working Papers 2005/099, International Monetary Fund.
    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. Ms. Ruo Chen & Mr. Gian M Milesi-Ferretti & Mr. Thierry Tressel, 2012. "External Imbalances in the Euro Area," IMF Working Papers 2012/236, International Monetary Fund.
    3. Ms. Florence Jaumotte & Piyaporn Sodsriwiboon, 2010. "Current Account Imbalances in the Southern Euro Area," IMF Working Papers 2010/139, International Monetary Fund.
    4. Xavier Timbeau, 2014. "Le piège de la déflation : Perspectives 2014-2015," SciencePo Working papers Main hal-03460404, HAL.
    5. 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.
    6. repec:hal:spmain:info:hdl:2441/c6c7hcjgm915q0m9u9i8r91sb is not listed on IDEAS
    7. Bruno Ducoudré & Eric Heyer, 2014. "Baisse de l'euro et désinflation compétitive," SciencePo Working papers Main hal-01093016, HAL.
    8. 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.
    9. 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.
    10. repec:spo:wpmain:info:hdl:2441/c6c7hcjgm915q0m9u9i8r91sb is not listed on IDEAS
    11. Mr. Jarkko Turunen & Mr. Richard T. Harmsen & Mr. Tamim Bayoumi, 2011. "Euro Area Export Performance and Competitiveness," IMF Working Papers 2011/140, International Monetary Fund.
    12. Kriwoluzky, Alexander & Müller, Gernot J. & Wolf, Martin, 2019. "Exit expectations and debt crises in currency unions," Journal of International Economics, Elsevier, vol. 121(C).
    13. repec:hal:spmain:info:hdl:2441/1h97uoi1ng8t5q1gqhfd257dam is not listed on IDEAS
    14. 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.
    15. Mariarosaria Comunale, 2019. "Long‐run determinants and misalignments of the real effective exchange rate in the EU," Scottish Journal of Political Economy, Scottish Economic Society, vol. 66(5), pages 649-672, November.
    16. repec:spo:wpmain:info:hdl:2441/1h97uoi1ng8t5q1gqhfd257dam is not listed on IDEAS
    17. Wolf, Martin & Müller, Gernot & Kriwoluzky, Alexander, 2013. "Currency Risk in Currency Unions," CEPR Discussion Papers 9635, C.E.P.R. Discussion Papers.

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