Euro Area Policies: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2004 Issue 235

Publication date: August 2004

ISBN: 9781451812954

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Labor , Economics- Macroeconomics , Public Finance , ISCR , CR , China , euro , exchange rate , productivity growth , EU imports , euro area , commitment country , EU country , Productivity , Labor productivity , Total factor productivity , Capital productivity , Global , East Asia , Europe , Eastern Europe

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Summary

This Selected Issues paper on Euro Area Policies underlies global rebalancing of accounts. From a growth-accounting perspective, slower growth in the capital-labor ratio seems to be the main driver behind the deceleration in labor productivity. The increase in bilateral trade was accompanied by a large bilateral EU trade deficit. China’s market share seems to have increased mainly at the expense of other East Asian countries. EU trade with China increased at more than twice the rate of total EU external trade, and China became the EU’s second largest trading partner.