Exports and Property Prices in France: Are They Connected?
France has seen a marked deterioration in its export performance in the last 10 years or so. Previous empirical research pointed out that weak export performance was due to i) vigorous domestic demand; ii) lower mark-ups due to head-to-head competition with Germany; iii) low non-price competitivenes...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Paris
OECD Publishing
2010
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Online-Zugang: | Volltext |
| Zusammenfassung: | France has seen a marked deterioration in its export performance in the last 10 years or so. Previous empirical research pointed out that weak export performance was due to i) vigorous domestic demand; ii) lower mark-ups due to head-to-head competition with Germany; iii) low non-price competitiveness of French export goods; iv) offshoring of entire production processes (especially in the automobile sector); and v) difficulties of French manufacturing firms to reach critical size for exporting. This paper adds an additional explanation to this list. We argue that resource reallocation from the exporting to the construction sector triggered by fast rising property prices hindered France to meet world export demand vis-à-vis its products. Our econometric analysis shows that the resource reallocation argument helps explain French export performance between the early 2000s and 2007, unexplained by traditional models. This result is confirmed for a set of OECD countries that experienced a marked decline in their export performance and sustained real-estate boom after 2000 |
| Beschreibung: | 1 Online-Ressource (26 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5kmh379pv30v-en |
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| spelling | Égert, Balázs Verfasser aut Exports and Property Prices in France Are They Connected? Balázs Égert and Rafal Kierzenkowski = Les exportations et les prix immobiliers en France : Sont-ils connectés ? / Balázs Égert et Rafal Kierzenkowski Les exportations et les prix immobiliers en France Paris OECD Publishing 2010 1 Online-Ressource (26 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers France has seen a marked deterioration in its export performance in the last 10 years or so. Previous empirical research pointed out that weak export performance was due to i) vigorous domestic demand; ii) lower mark-ups due to head-to-head competition with Germany; iii) low non-price competitiveness of French export goods; iv) offshoring of entire production processes (especially in the automobile sector); and v) difficulties of French manufacturing firms to reach critical size for exporting. This paper adds an additional explanation to this list. We argue that resource reallocation from the exporting to the construction sector triggered by fast rising property prices hindered France to meet world export demand vis-à-vis its products. Our econometric analysis shows that the resource reallocation argument helps explain French export performance between the early 2000s and 2007, unexplained by traditional models. This result is confirmed for a set of OECD countries that experienced a marked decline in their export performance and sustained real-estate boom after 2000 Economics France Kierzenkowski, Rafal ctb https://doi.org/10.1787/5kmh379pv30v-en Verlag kostenfrei Volltext |
| spellingShingle | Égert, Balázs Exports and Property Prices in France Are They Connected? Economics France |
| title | Exports and Property Prices in France Are They Connected? |
| title_alt | Les exportations et les prix immobiliers en France |
| title_auth | Exports and Property Prices in France Are They Connected? |
| title_exact_search | Exports and Property Prices in France Are They Connected? |
| title_exact_search_txtP | Exports and Property Prices in France Are They Connected? |
| title_full | Exports and Property Prices in France Are They Connected? Balázs Égert and Rafal Kierzenkowski = Les exportations et les prix immobiliers en France : Sont-ils connectés ? / Balázs Égert et Rafal Kierzenkowski |
| title_fullStr | Exports and Property Prices in France Are They Connected? Balázs Égert and Rafal Kierzenkowski = Les exportations et les prix immobiliers en France : Sont-ils connectés ? / Balázs Égert et Rafal Kierzenkowski |
| title_full_unstemmed | Exports and Property Prices in France Are They Connected? Balázs Égert and Rafal Kierzenkowski = Les exportations et les prix immobiliers en France : Sont-ils connectés ? / Balázs Égert et Rafal Kierzenkowski |
| title_short | Exports and Property Prices in France |
| title_sort | exports and property prices in france are they connected |
| title_sub | Are They Connected? |
| topic | Economics France |
| topic_facet | Economics France |
| url | https://doi.org/10.1787/5kmh379pv30v-en |
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