Prague Economic Papers 2019, 28(5):547-566 | DOI: 10.18267/j.pep.715

Energy Prices and their Impact on the Competitiveness of the EU Steel Industry

Peter Baláž, Juraj Bayer
* International Trade Department, University of Economics in Bratislava, Slovakia

An essential part of the EU's growth strategy is support to its own international competitiveness. The reason is that the domestic industry is losing its former positions and is being pushed out of both domestic and international markets. Developments on the international steel market over the last year confirm that the market is likely to see significant changes as a result of protective measures. Most of them will jeopardise the international competitiveness of the European steel industry with negative impacts on its overall economic growth. The aim of this paper is to analyse the influence of energy prices and, based on an international comparison of production conditions, identify the comparative advantages of the EU in this segment. For this purpose, use will be made of the RCA indicator and other research methods. The authors formulate some statements concerning the future development of this sector and the conditions which need to be satisfied to boost its competitiveness.

Keywords: competitiveness, energy security, european steel industry, international trade
JEL classification: E62, F01, F40

Received: May 28, 2018; Accepted: November 13, 2018; Prepublished online: September 24, 2019; Published: November 1, 2019  Show citation

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Baláž, P., & Bayer, J. (2019). Energy Prices and their Impact on the Competitiveness of the EU Steel Industry. Prague Economic Papers, 28(5), 547-566. doi: 10.18267/j.pep.715
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