This paper aims to empirically investigate the effect of the euro on stock markets for Hungary, Poland and the UK, and also the co-movement of the stock prices with the euro-zone using the daily stock price indices. The result reveals that in order to develop the emerging stock markets, exchange...

Since the signing of the Maastricht Treaty, there has been an intensive discussion whether the convergence criteria incorporated into the contract were appropriate to prepare the EU-member-countries for European Monetary Union. We argue that at least inflationary convergence was not a necessary...

The economies of Canada and the United States, closely linked for many years, began a formal process of tighter integration with the Canada–United States Free Trade Agreement (1989) and North American Free Trade Agreement (1994). Due to the ease of border crossing, American and Canadian...

The East Asian currency crisis of 1997-98 has led to considerable interest on the interlinkages between foreign exchange markets in the Asian region. Implicit in the literature is the assumption that the currency crisis can be linked to close integration of the goods and capital markets of the...

The case of Switzerland appears to be unique with regard to the European Economic and Monetary Integration Process which began in 1957: even though the country has cultivated close ties and growing links with the European Union (EU) over time, it does not desire full membership. If this...

This paper explores the interaction between labor market deregulation, monetary union and unemployment. Monetary policy autonomy and monetary union are compared in their influence on the optimal level of labor market deregulation consented to and wages demanded by labor unions. EMU leads to...

The paper studies the effects of regional integration on the incentives of mem - bers and non-members to undertake multilateral trade liberalization. Using a three- country political economy model with imperfect competion, it shows how regionalism can undermine support for multilateralism....

Traditional economic integration theory states that the formation of and economic union will effect both the member and non-member countries. This paper adds to traditional theory on economic integration by studying how non-member countries carry out their monetary policy in order tp counter...

A modified gravity model of international trade is used to evaluate determi - nants of flows of commodities most often traded in the Pacific Rim. It is shown that the gravity model can be reparameterized effectively by using time series and cross section data rather than using cross section data...

This study examines the development of trade between ASEAN and New Zealand. Indices of trade intensity and trade potential are used to analyse the intensity of existing trade for the period 1980~2010 and trade potential going forward. This is the first use of the trade potential method to assess...