The Effects of Competitiveness on Trade Balance: The Case of Southern Europe

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dc.authoridBajo-Rubio, Oscar/0000-0003-2728-312X
dc.contributor.authorBajo-Rubio, Oscar
dc.contributor.authorBerke, Burcu
dc.contributor.authorEsteve, Vicente
dc.date.accessioned2024-11-07T13:34:20Z
dc.date.available2024-11-07T13:34:20Z
dc.date.issued2016
dc.departmentNiğde Ömer Halisdemir Üniversitesi
dc.description.abstractAccording to conventional wisdom, peripheral Southern European members of the euro area (Greece, Italy, Portugal and Spain) suffer from a problem of competitiveness. Since their membership of the euro area renders devaluation impossible, adjustment should come through decreasing wages and prices in these countries, which, by improving the trade balance, should lead to a recovery of previous levels of employment and growth. In this paper, the authors estimate trade balance equations for the Southern European countries, both for total trade and for the trade performed with the European Union, taking three alternative measures of the real exchange rate, based on consumption price indices, export prices and unit labour costs, respectively. Their main conclusion is that demand seems to be more relevant than relative prices when explaining the evolution of the trade balance.
dc.description.sponsorshipUniversity of Castilla-La Mancha [GI20163419]; Spanish Ministry of Economy and Competitiveness; Generalitat Valenciana [ECO2014-58991-C3-2-R, PROMETEOII/2014/053]
dc.description.sponsorshipThe authors wish to acknowledge useful comments made by Ileana Tache, Rafael Myro, Antonio G. Gomez-Plana, Marek Kosny, Jorge Uxo and two anonymous referees. Financial support from the University of Castilla-La Mancha, through the project GI20163419 (O. Bajo-Rubio), and from the Spanish Ministry of Economy and Competitiveness and the Generalitat Valenciana, through the projects ECO2014-58991-C3-2-R and PROMETEOII/2014/053 (V. Esteve), is also gratefully acknowledged.
dc.identifier.doi10.5018/economics-ejournal.ja.2016-30
dc.identifier.issn1864-6042
dc.identifier.scopus2-s2.0-85010738972
dc.identifier.scopusqualityQ2
dc.identifier.urihttps://doi.org/10.5018/economics-ejournal.ja.2016-30
dc.identifier.urihttps://hdl.handle.net/11480/15928
dc.identifier.volume10
dc.identifier.wosWOS:000388335200001
dc.identifier.wosqualityQ4
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherWalter De Gruyter Gmbh
dc.relation.ispartofEconomics-The Open Access Open-Assessment E-Journal
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_20241106
dc.subjectTrade balance
dc.subjectreal exchange rate
dc.subjectcompetitiveness
dc.titleThe Effects of Competitiveness on Trade Balance: The Case of Southern Europe
dc.typeArticle

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