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Abstract

Although the current account imbalances within the Euro Area are significant, they did not draw enough attention until the debt problems of some Euro Area countries surfaced as a result of the global financial collapse in 2008. This study descriptively relates the current account imbalances within the Euro Area to the productivity disparities between the member states. Some countries geographically located in the South of the Euro Areaseem to lag behind others in increasing their productivities.This study stresses the importance of this fact as an underlying cause of the current account imbalances within the Euro Area.

Keywords

• The Euro Area, total factor productivity, current account imbalances.

EURO ALANINDA ÜRETKENLİK FARKLARI VE CARİ HESAP DENGESİZLİKLERİ

Öz

Euro Alanı’nda cari hesap dengesizlikleri büyük olsa da,2008 yılında küresel finansal çöküşün bir sonucu olarak bazı Euro Alanı ülkelerinde borç sorunlarının ortaya çıkmasına değin yeterince ilgi çekmemişlerdir. Bu çalışma betimsel olarak Euro Alanı’ndaki cari hesap dengesizliklerini Euro Alanı’ndaki üretkenlik farklılıkları ile ilişkilendirmektedir. Euro Alanı’nın coğrafi konum itibariyle güneyinde yerleşmiş bulunan bazı ülkeler üretkenliklerini arttırma noktasında diğerlerinin gerisinde kalmış görünmektedir.Bu çalışma söz konusu gerçeğin Euro Alanı’ndaki cari hesap dengesizliklerinin altında yatan bir neden olarak önemine vurgu yapmaktadır.

Anahtar Kelimeler

• Euro Alanı, toplam faktör verimliliği, cari hesap dengesizlikleri

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