We study the financing policies of European public corporations prior to the euro crisis. Using data from 11 euro … countries and a control group of five other European countries over 1991–2006, we show that nonfinancial firms from euro … countries with previously weak currencies considerably increased their debt financing after the introduction of the euro. The …

In this paper we study how the introduction of the euro has affected corporate financing in Europe. We use firm level … data from eleven euro-countries as well as from a control group of five other European countries spanning the years 1991 …-2006. We show that firms from euro-countries that previously had weak currencies have increased both their equity and debt …

economic booms in some peripheral Euro-zone countries financed by large capital inflows; the credit and asset price booms and … Latin American audiences. For those Euro-zone countries that built up large Euro-denominated external liabilities, Latin …

This Paper considers how the European Union, and more specifically the euro area, can contribute to international … internal stability in the euro area and has promoted a dynamic development of capital markets. But in some respects, monetary … positions on exchange-rate policy, the international financial architecture, and the euro as an international currency. …

over the period from 1948 through 2008. We find that, with the introduction of the euro, trade imbalances among euro area … tends to be more balanced when nominal exchange rates are flexible. Intra-euro area imbalances also seem to have become more … persistent with the introduction of the euro, some of which is linked to labor market inflexibility. Reviewing the direction of …

the impact of two exogenous events, entry to the EU and the adoption of Euro, which caused shifts in equity and credit … financing. Firms increase debt financing after the adoption of Euro, which improved access to international debt capital. We …

euro area. We study the impact of the adoption of the euro in January 1999 by 11 countries in Europe on the firms …) investments for EMU-firms have grown 2.5% more than for non-EMU firms, after 1999; and (ii) the benefits of the euro accrue …

) in Europe. We use corporate-level data from ten countries that adopted the euro, the three EU countries that did not join … EMU, as well as Norway and Switzerland. We show that the introduction of the euro has increased Tobin's Q-ratios in EMU … are financially unconstrained. The evidence provided here supports the view that the introduction of the euro has lowered …