France, Germany, Italy, and Spain

France, Germany, Italy, and Spain

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This cross-country paper explains differences in external sector performance among four large euro area countriesa€”France, Germany, Italy, and Spain. The paper discusses that during 2001a€“04, the performance of the external sector differed markedly among these four largest euro area countries. The study presented in this paper describes the evolution of the traditional determinants of exports and importsa€”domestic and foreign demand and cost and price competitivenessa€”and econometrically assesses their contributions to the evolution of trade volumes during the period mentioned.On balance, France fared worse, losing almost 8 percentage points of goods exports for reasons not captured by the variables included in the equation, but only 4 percentage points of goods imports. Italy lost about 2 percentage points in theanbsp;...

Title:France, Germany, Italy, and Spain
Author:International Monetary Fund
Publisher:International Monetary Fund - 2005-11-08


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