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

Gerhard Rübel 1  and Anja Klüver 1
  • 1 Universität Passau, Lehrstuhl für Volkswirtschaftslehre, Geld und Außenwirtschaft, Innstraße 27, D-94032 Passau

Summary

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.

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The Journal of Economics and Statistics is a scientific journal published in Germany since 1863. The Journal publishes papers in all fields of economics and applied statistics. A specific focus is on papers combining theory with empirical analyses.

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