Globalisation and the euro area

Globalisation has benefited the euro area in several ways, research published by the European Central Bank shows.

The research indicates that globalisation has a positive impact on output,

consumption, investment and real labour income in the long-run. This impact is driven by the improvement in the terms of trade and associated positive wealth effects, as well as by spillovers of higher potential output in emerging Asia on euro area total factor productivity.

Click here to read the research

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