EU industrial structure - EU Bookshop - Europa

More documents

Recommendations

Info

EU industrial structure 2011 — Trends and Performance FIgURE II.8: Services as shares of manufacturing output in 1995 and 2005 (%) 9 8 7 6 5 4 3 2 1 0 52 2005 1995 FR PO CZ GR EE SI HU DK PL SK ES Note: Wholesale and retail trade are excluded. Data for France only includes services products CPA 75 to 92. The values for all service products include CPA 50 to 95 for EU Member States and NAICS 42 to 92 for the US. The values for services excluding wholesale and retail trade cover CPA 55 to 95 for EU Member States and NAICS 48 to 92 for the US. Data for France covers only service products CPA 72 to 95. Source: European Commission, DG Enterprise and Industries (2011), forthcoming European Competitiveness Report 2011. Author’s calculations using Eurostat data. II.5 Inter-sectoral spillovers — a case study The data presented in the previous chapter showed how the crisis spread to all sectors of the economy. It also provided evidence on the extent of the recovery for the sectors. While some sectors already exhibit strong growth rates at the beginning of 2010, others lag behind. The fact that some sectors are affected early in the business cycle and that the development in some sectors lags behind implies that there are interlinkages between some sectors which give rise to joint movement of production and employment. Previous editions of the EU industrial structure have examined these interlinkages. 38 By using output multipliers it was shown how an increase in demand for a sector was translated into that sector’s demand for intermediate goods from other sectors. A case study is provided below which provides more insight into these relationships. The case study provides analysis of how shocks originating in the German motor vehicles industry impact on productivity and employment 38 European Commission, DG Enterprise and Industries (2009), EU Industrial Structure 2009. Performance and competitiveness. BE IT LI DE IE AT in four other German manufacturing industries: basic metals, fabricated metal products, rubber and plastics, and electrical equipment. Some words on the choice of industry for the analysis are in order. Lack of data did not allow for analysis of the whole EU‑27 manufacturing industry. The motor vehicle industry was chosen since it is one of the most important industries in the EU. The four other industries were chosen on the basis of German input‑output tables which indicated that these industries are the most affected by increase in demand for motor vehicles. The case study is undertaken with econometric analyses. 39 The relationships between industries are analysed with vector autoregressive (VAR) models. The analyses are conducted within an empirical framework inspired by the works of Blanchard & Quah (1989) and Galí (1999) who analysed the importance of technology and non‑technology shocks for aggregate fluctuations in productivity and employment. There is no consistent 39 The analyses are carried out with monthly data on production, employment and hours worked for the period January 1990 to August 2009. All series are indices and collected from Eurostat’s short term business statistics database. Productivity is calculated as production per hours worked. UK SE LU NL FI
definition of shocks. Shocks, or disturbances, are often defined as significant changes in variables from underlying trends. The magnitude of changes is in general determined using measures of dispersion such as standard deviations. Shocks could also be defined as unexpected events beyond the control of industries or the entity in question. See for example the discussion in Varangis et al. (2004). Four two‑industry VAR‑models were estimated, consisting of four variables: labour productivity and employment for the motor vehicles industry and for one of the other four industries respectively. 40 Impulse response functions were calculated in order to see the responses of technology and non‑technology shocks 40 The models are estimated in first differences of the variables since unit root tests indicated that they were non-stationary. See http:// ec.europa.eu/enterprise/newsroom/cf/_getdocument.cfm?doc_ id=6003 for a detailed description of the methodology and results. Chapter II — Changes in EU Industrial structure on employment and productivity growth. The impulse response functions show how, for example, employment in the rubber and plastics industries responds to a one‑percentage technology shock in the motor vehicles industry. The responses are presented for a time period of four years (48) months. The responses are shown together with 90 percent confidence intervals. The analyses show that a one‑percentage technology shock originating in the motor vehicles industry has significant positive and permanent effects on employment in the rubber and plastics industry, which increases by some 2.5 %. Productivity in the rubber and plastics industry increases permanently by some 1.5 % after a technology shock in the motor vehicles industry, cf. Figure II. 9. FIgURE II.9: A technology shock in the motor vehicle industry has permanent effects on employment and productivity in rubber and plastics Employment productivity 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 -0.5 -1.0 lower upper response 1 13 25 Source: own calculations using Eurostat data. 37 48 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 lower upper response 1 13 25 37 48 53
Page 1:
EU industrial structure 2011 Trends
Page 4 and 5: ENTERPRISE & INDUSTRY MAGAZINE The
Page 6 and 7: EU industrial structure 2011 — Tr
Page 17 and 18: Chapter I The aftermath of the cris
Page 19 and 20: The impact of the last downturn in
Page 21 and 22: The impacts of the latest recession
Page 23 and 24: The previous figures imply that the
Page 25 and 26: i12 services recession and recovery
Page 27 and 28: Chapter I — The aftermath of the
Page 29 and 30: nacE rev 2 growth 2009 Chapter I
Page 31 and 32: The third step in assessing future
Page 33 and 34: The business survey indicator used
Page 37 and 38: Chapter II Changes in EU Industrial
Page 39 and 40: While there is some variety in the
Page 41 and 42: developments. This is confirmed by
Page 43 and 44: Looking at the overall specialisati
Page 45 and 46: TAbLE II.2: Sectoral specialisation
Page 47 and 48: For countries as a whole, it should
Page 49 and 50: Chapter II — Changes in EU Indust
Page 51 and 52: technology scale. They are less and
Page 53: ox II.4: SME definition FIgURE II.7
Page 57: Appendix figure FIgURE II.11: Secto
Page 97 and 98: Chapter IV International competitiv
Page 99 and 100: Chapter IV — International compet
Page 101 and 102: FIgURE IV.1: EU accounts for almost
Page 103 and 104: TAbLE IV.4: EU exports of manufactu
Page 105 and 106:
iv22 Export market shares Export ma
Page 107 and 108:
iv23 sectoral trade balance The rel
Page 109 and 110:
FIgURE IV.3: EU-27 RCA index in 200
Page 111 and 112:
RCA‑indices for individual manufa
Page 113 and 114:
FIgURE IV.8: China trade in manufac
Page 115 and 116:
Chapter IV — International compet
Page 117 and 118:
communi‑ cation computer and info
Page 119 and 120:
FIgURE IV.13: Japan trade in servic
Page 121 and 122:
FIgURE IV.17: Russia trade in servi
Page 123 and 124:
Chapter IV — International compet
Page 125 and 126:
IV.4 The role of technology in EU s
Page 127 and 128:
The import dependence of exports, v
Page 129 and 130:
The calculations of vertical specia
Page 131 and 132:
IV.6 International movement of fact
Page 133 and 134:
In many sectors, outward EU‑27 FD
Page 135 and 136:
iv62 internationalisation of r&d An
Page 137:
The US is the most important locati
Page 140 and 141:
EU industrial structure 2011 — Tr
Page 142 and 143:
Page 144 and 145:
Page 146 and 147:
Page 148 and 149:
Page 150:
Page 155 and 156:
How to obtain EU publications Free
show all

EU industrial structure - EU Bookshop - Europa

Create successful ePaper yourself

Delete template?

Save as template?