Monthly Report No. 9/2018
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Vasily Astrov, Mahdi Ghodsi, Julia Grübler, Doris Hanzl-Weiss, Armon Rezai and Roman Römisch
wiiw Monthly Report No. 9, September 2018
48 pages including 1 Table and 15 Figures
- Graph of the month: Average gross monthly wages in Central and East European countries, at purchasing power parity, Austria = 100
- Opinion corner: How can wages in Central and Eastern Europe be sustainably increased and the pressure to emigrate dampened?
by Vasily Astrov and Armon Rezai
- Estimating the effects of commuting on regional GDP in Austria
by Roman Römisch
The article asks whether regional GDP is a good measure of the level of economic and social development of a region. It adjusts traditional GDP by commuting, estimating the in- and outflow of wages in the Austrian regions. It finds that commuting-adjusted GDP in Vienna is lower, while in Lower Austria and especially Burgenland it is much higher than official GDP. This should lead to a rethinking of the regions’ social position, potentially including a redistribution of EU Structural Funds.
- Austria’s investment in its Eastern neighbourhood
by Julia Grübler
Being a small economy in the heart of Europe, Austria’s significance as a foreign investor in Central, East and Southeast Europe (CESEE) is often overlooked. For all fifteen countries under consideration, Austria ranks among the top 10 investors, dwarfing global players such as the United States or China. Likewise, investments in immediate neighbouring countries feature prominently in Austria’s outward FDI stocks and appear overproportionately profitable.
- Main Austrian export destinations: the role of CESEE re-examined
by Mahdi Ghodsi and Doris Hanzl-Weiss
For Austria, the CESEE region is an important export destination, expanding over time and accounting for 21% of Austria’s exports in 2015. Nevertheless, while losing market shares, Germany remains the largest Austrian partner, with 30% of Austrian exports heading there.
- Statistical Annex: Monthly and quarterly statistics for Central, East and Southeast Europe
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Keywords: wages, purchasing power, CEE, Austria, wage growth, emigration, labour market liberalization, regional GDP, commuting, regions in Austria, FDI, CEE, SEE, CESEE, foreign trade, export destination, markets share
Countries covered: Austria, CEE, CESEE, Germany, SEE
Research Areas: Labour, Migration and Income Distribution, International Trade, Competitiveness and FDI, Regional Development