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In many energy policies, including Poland's, environmental priorities clash with the issue of energy security. With these contradictions in mind, the main objective of the article is a comparative analysis of domestic production and imports of hard coal in Poland and the formulation of conclusions for energy policy and competitiveness. The analysis covers the years 2018–2023 and concerns three issues: the volume and directions of coal imports to Poland, the qualitative and price competitiveness of coal, and the possibility of substituting imported coal with domestic coal. The research used statistical analysis. Indicators of structure and dynamics as well as comparative analysis were also used. The analysis shows that the structure of coal importers to Poland is quite diverse and includes many geographic directions. However, until 2021, it was dominated by Russia, followed by Colombia, indicating a fairly homogeneous supply market and a continuing tendency to depend on a single importer. Analysis of qualitative competitiveness confirms the existence of balance and industrial resources whose quality parameters (sulfur content, ash content, and calorific value) are comparable to and better than those of imported coal. Polish hard coal can also compete with imported coal in terms of price. From 2021 to 2023, it was clearly cheaper than foreign coal. In the above circumstances, it is quite difficult to unequivocally assess the reasons for importing coal to Poland and to justify dependence on external suppliers. This is especially relevant since domestic mining in 2020–2023 remains stable (periodically even increasing), which does not indicate a decisive shift away from coal as an energy resource. [ABSTRACT FROM AUTHOR]

The study aimed to calculate competitiveness in the Iraqi imports market among main exporters of wheat and rice during (2000-2021). Therefore, some competitiveness indicators were measured, such as revealed comparative advantage, price competitiveness, and market share, in order to determine the market share and competitiveness of the countries exporting the two crops and the extent of their impact on prices. Firstly, the results indicated that Thailand, India, and Pakistan have a revealed comparative advantage in exporting rice to the world, with the exception of the United States of America. Russia has a comparative advantage in exporting wheat to the world better than United States, Canada, and Australia. Secondly, the price competitiveness results for rice showed that both Thailand and Pakistan have price competition in exporting rice with the rest of their competing countries inside Iraq. The price competitiveness for wheat showed that the United States, Canada and Australia have price competitiveness, except for Russia. Finally, the results of the market share of rice and wheat exporters inside Iraq showed that Thailand has the highest market share in exporting rice to Iraq and that the United States has a greater market share in exporting wheat to Iraq. [ABSTRACT FROM AUTHOR]

The article is devoted to the study of the prospects for the influence of logistics cost optimization processes on the possibility of ensuring the price competitiveness of goods of a wholesale trading organization using the example of the sale of craft beer. Aspects of the concept of competitiveness are clarified, as well as levels and factors (price and non–price) that determine competitiveness are identified. In this study, ensuring price competitiveness is disclosed in the structure of commodity competitiveness using the example of craft beer. The problems faced by the wholesale trading company when transporting craft beer over long distances are highlighted. The negative nature of the impact of these problems on the price competitiveness and image of the supplied craft beer is revealed. As an intermediate tool for ensuring the price competitiveness of craft beer, the methodology for transporting goods over long distances is considered. The mechanism and place of the methodology in the structure of ensuring price competitiveness is highlighted. The effects of the implementation of the technique in the conditions of a wholesale trading enterprise are disclosed.

This study investigates the determinants of long-haul tourists' daily expenditure and length of stay. Relative price competitiveness, travel party size, activity engagement in entertainment, and trip organization method affect both daily spending and length of stay. Income and engagement in outdoor activities further contribute to predict daily expenditure, whereas activity engagement in nature and culture activities significantly affects the length of stay. The study presents helpful information to stakeholders responsible for outbound long-haul tourist destination policy and planning in mature and emerging destinations. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Agricultural Economics & Social Sciences is the property of Egyptian National Agricultural Library (ENAL) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The price of goods and services represents an important factor of attracting tourists and improving destination competitiveness. However, a question arises, whether lower prices in tourism contribute to a greater number of tourist arrivals and higher tourism receipts. The purpose of this paper is to analyse a relationship between price competitiveness and tourist arrivals and tourism receipts in European countries. By means of a cluster analysis, the paper examines the homogeneity of European countries in terms of tourism price competitiveness based on the Travel and Tourism Competitiveness Report for 2017. The results of the research showed that European countries are not homogeneous as far as tourism price competitiveness is concerned. Moreover, countries with a lower price competitiveness level attract a greater number of tourists and yield greater tourism receipts in comparison to the countries with a greater price competitiveness level.

Copyright of Journal of Agricultural Economics & Social Sciences is the property of Egyptian National Agricultural Library (ENAL) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

To achieve sustainable economic growth, Saudi Vision 2030's target is to improve Saudi Arabia's ranking on the Global Competitiveness Index from 25 in 2015–2016 to within the top 10 by 2030. Saudi Arabia also aims to increase the share of non-oil exports in the non-oil GDP from 16% in 2016 to 50% by 2030. For policymakers to make informed decisions to achieve these goals, they need to understand the driving forces of Saudi Arabia's competitiveness. To this end, we consider the real effective exchange rate (REER) as a measure of external price competitiveness, as it captures domestic and global price changes. We then examine the REER using a two-stage modeling framework. First, we estimate the REER equation, which allows us to assess the impacts of the determinants and evaluate currency misalignments as a competitiveness indicator. Second, we extend the KAPSARC Global Energy Macroeconometric Model (KGEMM) with the estimated equation, which provides a framework for simulating the competitiveness impacts of the theoretically formulated determinants and other variables relevant to policymakers. The framework also allows us to account for feedback loops. We conduct a policy scenario analysis to quantify the competitiveness effects of the Public Investment Fund's (PIF) new strategy for 2021–2025. We derive the following policy insights. Authorities may wish to implement initiatives boosting future productivity and, thus, competitiveness, such as PIF investments. Policymakers should be regularly informed about currency misalignment. Government consumption and public investment projects should consider substituting imports with locally produced goods and services. Local content development would also help to diversify the Saudi economy. Finally, attracting more foreign investment and other assets from the rest of the world may lead to technological development and improvement in the economic, financial, and social infrastructure and business environment, all enhancing competitiveness. [ABSTRACT FROM AUTHOR]

Hydrogen is a promising energy carrier with the potential to reduce greenhouse gas emissions and provide a stable energy supply; however, economic feasibility and supply stability limit its use. Hydrogen production technology (HPT) may be the key to overcoming these. Here, we explore HPT life cycle and strength characteristics to assess commercialization readiness using diverse analyses such as patents. Our findings show that HPT has matured and strengthened its competitiveness. However—despite the maturity—many challenges are required for commercialization success: the factor that might bridge this gap is securing price competitiveness. This study highlights the technological competitiveness of electrolysis has overtaken that of reforming and gasification. However, electrolysis has yet to achieve successful commercialization since it does not have appropriate price competitiveness. Therefore we argue for the immediate need to develop various technological methods—such as improved systems with cost-effective electrocatalysts—should be met for large-scale electrolysis commercialization. [Display omitted] • Hype cycle, S-curve showed the trajectory of hydrogen production technology (HPT). • HPT development is at a mature stage and strengthened its competitiveness. • Competitiveness of electrolysis has overtaken that of reforming and gasification. • Despite the maturity, many challenges are required for commercialization success. • Both price competitiveness and technological competitiveness must be secured. [ABSTRACT FROM AUTHOR]

Copyright of Serbian Journal of Management is the property of Serbian Journal of Management and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study uses an autoregressive distributed lag (ARDL) model to investigate the role of incomes, relative price competitiveness, and substitution prices in tourism demand from Indonesia‘s six largest countries of origin from 2007Q1 to 2019Q4. Income level, competitive prices, and substitution prices significantly impact the demand for tourism in Indonesia. Malaysia, Singapore, Australia, Japan, and India are income elastic, signaling that tourism is a luxury good, but China (normal good). Malaysia and China are price elastic while Japan, India, Singapore, and Australia are less affected by changes in relative prices. Substitute prices may drive tourist to other destinations if the change in prices is large.

As Earth’s fossil energy resources are limited, there is a growing need for renewable resources such as biodiesel. That is the reason why the social, economic and environmental impacts of biofuels became an important research topic in the last decade. Depleted stocks of crude oil and the significant level of environmental pollution encourage researchers and professionals to seek and find solutions. The study aims to analyze the economic and sustainability issues of biodiesel production by a systematic literature review. During this process, 53 relevant studies were analyzed out of 13,069 identified articles. Every study agrees that there are several concerns about the first-generation technology; however, further generations cannot be price-competitive at this moment due to the immature technology and high production costs. However, there are promising alternatives, such as wastewater-based microalgae with up to 70% oil content, fat, oils and grease (FOG), when production cost is below 799 USD/gallon, and municipal solid waste-volatile fatty acids technology, where the raw material is free. Proper management of the co-products (mainly glycerol) is essential, especially at the currently low petroleum prices (0.29 USD/L), which can only be handled by the biorefineries. Sustainability is sometimes translated as cost efficiency, but the complex interpretation is becoming more common. Common elements of sustainability are environmental and social, as well as economic, issues.

The article presents reasons for the choices and opinions of tourists regarding rest and its safety in agritourism farms in Poland during the COVID-19 pandemic in 2020. We used the diagnostic survey method. We distributed the questionnaire via the Internet on Facebook in thematic groups related to tourism. Facebook respondents were also asked to provide a link to the questionnaire to their tourism-active friends (snowball sampling). We conducted the survey in January 2021. Research has shown that well-educated and well-off residents of cities most often chose agritourism. The main reason for the choice is the possibility of rest in peace and quiet, natural values, and an attractive price. Notably, during the pandemic, an important reason for choosing agritourism was to convince tourists that the risk of coronavirus infection was relatively low. This is also evidenced by the fact that most of them visited an agritourism farm for the first time during the pandemic. The attractiveness of staying on an agritourism farm was assessed highly (almost all respondents expressed their willingness to take advantage of this form of leisure again). This is due to the high evaluation of the quality of services provided, the offer's attractiveness, and price competitiveness. [ABSTRACT FROM AUTHOR]

Many scholars perceive price competitiveness as a highly relevant element of tourism competitiveness in improving tourism performance. We focused our research interest specifically to understand whether price competitiveness is an important policy instrument in attracting international tourists and their spending. Our empirical study focused on how price competitiveness behaves as a predictor of tourism performance in different economic conditions and whether price competitiveness is a significant cause of tourism competitiveness in improving tourism performance. For that purpose, we conducted empirical analysis within two stages: moderation analysis to understand how price competitiveness influences tourism performance from the point of view of inbound international tourism and how this relationship behaves in different economic conditions; and mediation analysis to understand whether price competitiveness is relevant cause for tourist competitiveness in improving tourism performance. This study has revealed different views about price competitiveness and its influence on the tourism industry. The findings indicate that price competitiveness has rather limited effects on the outcomes of the tourism industry and is not a cause of overall tourism competitiveness in improving tourism performance. [ABSTRACT FROM AUTHOR]

The crops of the legumes, especially the domestic beans, are considered the most important food groups due to their high nutritional value, in addition to their importance in improving soil properties. The state aims to encourage the expansion of the faba bean production to fill the food gap and also to supply hard currency. Egypt is one of the most important importing countries for beans. The legume crops are considered the most important food groups because of the high nutritional value. The bean is a strategic commodity for the Egyptian citizen. The study aims at reducing the imports of the Egyptian faba bean. Egypt's demand for faba bean, estimation of the competitive advantage of the main exporting countries of Egypt, and the comparative advantage index. The study found that the quantity of Egyptian bean imports increased by an annual rate of about 2.41 thousand tons. This increase is statistically insignificant at 0.05 level, and the value of Egypt's imports of faba bean has taken an upward trend at an annual rate of about 7 million dollar This increase is statistically insignificant at 0.05 level, and the price of Egypt's imports of faba bean has taken an downward trend at an annual rate of about 14.5 dollar/tons This increase is statistically insignificant at 0.05 level and the study of the geographical distribution of imports of Egyptian fab beans shows that the United Kingdom, Australia and France Representing 88 % Of Egypt's imports of beans. The percentage of Egypt's imports of faba bean decreased at a growth rate of 14%. The volume of exports of the United Kingdom and France decreased by 38% and 96%, respectively, while Australia increased its exports by 5% The elasticity of demand functions also showed that the elasticity of the price demand of Australia's export price indicates that the de mand is inelastic and Egypt needs this commodity from the Australian market, and the income elasticity shows that the commodity is poor by increasing income. The explanation of the elasticity of the demand for the price of France's exports shows that the demand is inelastic and Egypt needs this commodity from the French market. It is also evident from the income elasticity that the commodity is normal, i.e., the increase in income is the required quantity of the commodity, while the elasticity of the price demand of the UK export price shows that demand is not Flexible and Egypt needs this commodity from the British market, as evidenced by the income elasticity that the commodity is poor by increasing the income decreases the required quantity of the commodity. The study of forecasting Egypt's imports of Australian beans shows that the volume of imports of beans is expected to increase from about 136 thousand tons in 2018 to about 245.6 thousand tons in 2025. It is expected that the quantity of imports of British beans will increase from about 58 thousand tons 2018 to about 277.3 thousand tons in 2025. It is expected that the quantity of imports of French beans will fall from about 0.334 thousand tons in 2018 to about 45.9 thousand tons. It is also expected that the quantity of Egyptian imports of beans will increase from about 410 thousand tons in 2018 to about 500 thousand tons in 2025, is expected to decrease the amount of domestic production of beans from about 144 thousand tons in 2018 to about 16 thousand tons And it was found that the available amount of consumption is expected to decrease from about 281 thousand tons in 2018 to about 72.5 thousand tons in 2025.

The study aims at identifying the analysis of the Egyptian agricultural foreign trade with the countries of the Euro-Asian Union. The study problem , its objectives and the research method Where identified in the study. Where , there is a lack of information on the expected results or the role that the proposed free trade agreement between Egypt and the Euro-Asian Union could play and the requirements for maximizing the positive results and minimizing the negative consequences if this agreement is signed. Therefore, the research aims to identify the positive and negative results on the Egyptian economy under the proposed agreement, which contributes to reducing the negatives and supporting the positive factors to achieve effective decision-making. The study included four chapters. First, identifying the stages of economic integration. The second chapter was studying the economic interrelationships between the Russian Federation, Egypt, Belarus, Armenia and Kazakhstan, and the third chapter was the identification of commodity trade relations between Egypt and Eurasian countries during the period 2001-2017 through exports and imports between Egypt and the countries of the Euro-Asian Union The most important trading partner of Egypt among these countries is the Russian Federation, where the value of trade exchange between the two countries in 2017 to more than 4 billion dollars, including 3.6 billion imports to Egypt and 0.5 billion exports from Egypt to Russia, The fourth chapter was the use of trade indicators to reveal trade opportunities with the countries of the Euro-Asian Customs Union. Three indicators were used: 1- Conditions of trade, 2- Agricultural trade compatibility, 3- Price competitiveness, The tendency of the terms of exchange for Egypt in many commodities of vegetables and fruits in the studied markets and the most important Russian market and it shows the agricultural trade compatibility of these commodities and the advantage of some Egyptian commodities such as oranges, potatoes and grapes have a significant competitive advantage in the Russian market with great importance. The research included several recommendations, including the promotion of intraagricultural trade between Egypt and the EuroAsian countries through preferential agreements, especially with Russia, Armenia and Kazakhstan.

This study uses an autoregressive distributed lag (ARDL) model to investigate the role of incomes, relative price competitiveness, and substitution prices in tourism demand from Indonesia‘s six largest countries of origin from 2007Q1 to 2019Q4. Income level, competitive prices, and substitution prices significantly impact the demand for tourism in Indonesia. Malaysia, Singapore, Australia, Japan, and India are income elastic, signaling that tourism is a luxury good, but China (normal good). Malaysia and China are price elastic while Japan, India, Singapore, and Australia are less affected by changes in relative prices. Substitute prices may drive tourist to other destinations if the change in prices is large. [ABSTRACT FROM AUTHOR]

Copyright of Economy & Forecasting / Ekonomìka ì Prognozuvannâ is the property of Ukrainian National Academy of Sciences, Institute for Economic Forecasting and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Journal of Agricultural Economics & Social Sciences is the property of Egyptian National Agricultural Library (ENAL) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Asia, particularly China, has become an attractive market that receives much attention in the Norwegian tourism industry. This raises relevant questions about the sustainability of the Chinese tourism boom. If the Norwegian tourism industry increasingly targets this rapidly growing market with larger investments, it should respond to the prospects of long-term growth. Such prospects hinge on the economic drivers behind the influx of Chinese tourists. In this study, we use both descriptive data analysis and the ARDL model to investigate the main economic factors that drive Chinese tourists to Norway. Specifically, we investigate whether the boom of the Chinese tourists is a relatively stable trend associated with the growing Chinese economy or just a short-term phenomenon brought by the weakened NOK. Our findings suggest instead of the well-recognized Chinese economic growth, it is the improving price competitiveness of Norway resulting from the weakening Norwegian kroner that has made the boom of the Chinese tourists in Norway. This result suggests although the income effect is significant in affecting aggregate tourist flow from a source country, for a single destination, price competitiveness is the key to make a destination attractive since the substitution effects of other destinations are huge and the income effect becomes uncertain. [ABSTRACT FROM AUTHOR]

Price competitiveness is key for tourists' destination choice. In the study, we evaluate the effects of an economic decline caused by non-tourism industry on a tourist destination's price competitiveness. An econometric model of hotel revenue function is estimated in the study. Specifically, we estimate hotel revenue functions at the regional level in Norway to investigate how the crude oil price collapse and the subsequent economic decline influenced tourism demand in Norway. This type of cross-sectorial effect of non-tourism industries on tourism competitiveness has been little discussed in the tourism literature. The results show that the fall in crude oil price boosted tourism growth in Norway through a weakening of the local currency. This means tourism development is not always associated with economic growth, as discussed in most of the tourism literature. There might be some upper bounds of wealth in a nation where additional growth does not foster further tourism development due to the inflationary effects of economic growth. The study therefore adds new insights into the literature on tourism and economic growth. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Agricultural Economics & Social Sciences is the property of Egyptian National Agricultural Library (ENAL) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The crops of the legumes, especially the domestic beans, are considered the most important food groups due to their high nutritional value, in addition to their importance in improving soil properties. The state aims to encourage the expansion of the faba bean production to fill the food gap and also to supply hard currency. Egypt is one of the most important importing countries for beans. The legume crops are considered the most important food groups because of the high nutritional value. The bean is a strategic commodity for the Egyptian citizen. The study aims at reducing the imports of the Egyptian faba bean. Egypt's demand for faba bean, estimation of the competitive advantage of the main exporting countries of Egypt, and the comparative advantage index. The study found that the quantity of Egyptian bean imports increased by an annual rate of about 2.41 thousand tons. This increase is statistically insignificant at 0.05 level, and the value of Egypt's imports of faba bean has taken an upward trend at an annual rate of about 7 million dollar This increase is statistically insignificant at 0.05 level, and the price of Egypt's imports of faba bean has taken an downward trend at an annual rate of about 14.5 dollar/tons This increase is statistically insignificant at 0.05 level and the study of the geographical distribution of imports of Egyptian fab beans shows that the United Kingdom, Australia and France Representing 88 % Of Egypt's imports of beans. The percentage of Egypt's imports of faba bean decreased at a growth rate of 14%. The volume of exports of the United Kingdom and France decreased by 38% and 96%, respectively, while Australia increased its exports by 5% The elasticity of demand functions also showed that the elasticity of the price demand of Australia's export price indicates that the demand is inelastic and Egypt needs this commodity from the Australian market, and the income elasticity shows that the commodity is poor by increasing income. The explanation of the elasticity of the demand for the price of France's exports shows that the demand is inelastic and Egypt needs this commodity from the French market. It is also evident from the income elasticity that the commodity is normal, i.e., the increase in income is the required quantity of the commodity, while the elasticity of the price demand of the UK export price shows that demand is not Flexible and Egypt needs this commodity from the British market, as evidenced by the income elasticity that the commodity is poor by increasing the income decreases the required quantity of the commodity. The study of forecasting Egypt's imports of Australian beans shows that the volume of imports of beans is expected to increase from about 136 thousand tons in 2018 to about 245.6 thousand tons in 2025. It is expected that the quantity of imports of British beans will increase from about 58 thousand tons 2018 to about 277.3 thousand tons in 2025. It is expected that the quantity of imports of French beans will fall from about 0.334 thousand tons in 2018 to about 45.9 thousand tons. It is also expected that the quantity of Egyptian imports of beans will increase from about 410 thousand tons in 2018 to about 500 thousand tons in 2025, is expected to decrease the amount of domestic production of beans from about 144 thousand tons in 2018 to about 16 thousand tons And it was found that the available amount of consumption is expected to decrease from about 281 thousand tons in 2018 to about 72.5 thousand tons in 2025. [ABSTRACT FROM AUTHOR]

This study applies Almost Ideal Demand System models to examine Indonesia’s competitiveness as a tourist destination compared to two main competitor countries. The model was used to estimate the sensitivity of tourism demand from seven tourist-main market countries to price changes, the tourists’ total budget and global economic crisis. The model estimated result meets the assumptions of the demand theory: homogeneity and symmetry. The elasticity price shows that Indonesia is more competitive than Thailand among Australian and American tourists; while Indonesia is more competitive than Malaysia among American tourists. The research result also shows that the tourism price is the main determinant affecting the allocation of tourist expenditure in the three destinations.

The research aimed to identify the indicators of access the US market for medical and aromatic plants, using the price competitiveness the Egyptian market share and the market share model. The research reached .several important results as the most important exporters to the US market are (India, China, Mexico, Egypt, Germany, Turkey). These countries account for about 78.2% percent of the total imports in US market and Egypt is well positioned for price competitiveness for all countries exporting medical and aromatic plants in the US market. Egypt comes in fourth place to the list of the most important exporters to America by about 9 .6% of the total US imports of medical and aromatic plants, the market share of Egypt's characterized by fluctuated between the increase and decrease during the period (1994-2017). As for factors affecting the Egyptian market share using the market model. Results showed that the price ratio variable between Egypt and China is consistent in line with the economic logic, were it indicates the inverse relationship between the price ratio and the market share of Egypt. There was also a positive relationship between the variable rate of market share and the percentage of Egyptian market participation. The research ended with some recommendation that would increase the rich exports of medical and aromatic plants in general and the US market in particular. [ABSTRACT FROM AUTHOR]

Copyright of Economy & Forecasting / Ekonomìka ì Prognozuvannâ is the property of Ukrainian National Academy of Sciences, Institute for Economic Forecasting and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of El-Bahith is the property of University of Kasdi Merbah Ouargla and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper aims to explain some developments in current accounts across advanced and emerging European countries with a fixed exchange rate. Our main goal is to identify key factors affecting the external imbalances. This assessment of the cause of external imbalances will help us understand what has to be changed in European economies to recover the external balances going forward. We estimated a panel VAR model over the period 1999 to 2014 for a sample of 11 European countries that were split into two groups: advanced and emerging. The obtained results show that the real effective exchange rate has a negative effect on the current account balance in both groups of countries, although the effect is more pronounced in emerging than in advanced countries. Other variables such as the budget balance, economic growth, and output gap affect current account balance positively in advanced countries and negatively in emerging countries. Economic activity captured by output gap explains the highest portion of current account variations in emerging countries. In advanced countries, in addition to economic activity, the real exchange rate also plays a prominent role in current account imbalances. [ABSTRACT FROM PUBLISHER]