Relação entre a variação da taxa de câmbio real e a variação da quota de mercado. Fonte: Comissão Europeia.
“Although gains in cost competitiveness have been associated with large gains in market shares in countries such as Spain and Portugal, this has not been the case in other vulnerable Member. States such as Greece, Cyprus and Ireland. In addition, losses in cost competitiveness in Member States in a stronger growth position have, in most cases, not been associated with significant losses in market shares. Clearly, price competitiveness is not the only determinant of differences in export performance across the euro area and non-price competitiveness factors have so far tended to blunt the operation of the competitiveness channel.
Ler também Paradoxos do equilíbrio externo