Report
Which euro-zone countries have enjoyed strong industrial growth since 1999?
Monetary unification leads to the disappearance of currency risk, and allows countries to use their comparative advantages. As a result, the monetary unification of the euro zone should have led to a concentration of industry in a smaller number of countries. Looking at the euro-zone countries, we see , since the creation of the euro: A contraction in industry in Spain, France, Italy, Portugal and Greece; Weak industrial growth in Germany, the Netherlands and Finland; Strong industrial growth in Belgium, Austria, Slovenia, Ireland and Slovakia. This demonstrates the presence of comparative advantages favourable to industry (skills, high percentage of young people studying science or technology, social acceptance of industry, low taxes on production, etc.), which are actually present in countries with strong industrial growth.
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