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Sovereign rating news and financial markets spillovers : evidence from the European debt crisis

Arezki, Rabah; Candelon, Bertrand; Sy, Amadou N. R. - 2011

This paper examines the spillover effects of sovereign rating news on European financial markets during the period 2007-2010. Our main finding is that sovereign rating downgrades have statistically and economically significant spillover effects both across countries and financial markets. The...

Persistent link: https://www.econbiz.de/10009011838

Sovereign rating news and financial markets spillovers : evidence from the European debt crisis

Arezki, Rabah; Candelon, Bertrand; Sy, Amadou N. R. - 2011

Persistent link: https://www.econbiz.de/10009486229

EMU and capital markets : the institutional framework

Gros, Daniel - 1998

This paper reviews the factors that will determine the shape of financial markets under EMU. It argues that financial markets will not be unified by the introduction of the euro. National central banks have a vested interest in preserving local idiosyncracies (e.g. the Wechsels in Germany) and...

Persistent link: https://www.econbiz.de/10009768844

Who needs foreign banks?

Gros, Daniel - 2003

10 countries from Central and Eastern Europe (CEEC) that will join the EU in 2004/7 the banking system is now dominated …

Persistent link: https://www.econbiz.de/10011508110

The structure of financial systems and macroeconomic instability

Gros, Daniel; Lannoo, Karel - In: EIB papers 4 (1999) 1, pp. 61-69

country in the EU. This is due to deeply-rooted structural differences in legal systems, development of markets and …-based forms of financing of investments by enterprises in the EU. Disintermediation, and institutionalisation of savings in … authorities would have reacted to something like the LTCM collapse in the EU is a good way to see the importance of these two …

Persistent link: https://www.econbiz.de/10011499203