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Capital flows, EU integration and the global financial crisis : an empirical analysis
Kaya, Ahmet Ihsan; Haan, Jakob de - In: Journal of applied economics 25 (2022) 1, pp. 1025-1049
We investigate the impact of European Union (EU) integration on capital flows to prospective new EU member states. Using annual data between 1992 and 2020, our results suggest that although EU integration increased net capital flows before the Global Financial Crisis (GFC), it was not able to...
Persistent link: https://www.econbiz.de/10014247570
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Why Don't Asians Invest in Asia? The Determinants of Cross-Border Portfolio Holdings
García-Herrero, Alicia - 2010
This paper seeks to understand why Asian foreign investment is concentrated in financial markets outside of the region instead of in Asian markets. We analyse empirically the geographical composition of the cross-border portfolio holdings of more than 40 source countries. We compare these...
Persistent link: https://www.econbiz.de/10013152237
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The trade and FDI effects of EMU enlargement
Brouwer, Jelle; Paap, Richard; Viaene, Jean-Marie - 2007
investment and a relationship between trade and exchange rate volatility that depend on the sign of bilateral trade balances …
Persistent link: https://www.econbiz.de/10011372974
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Integration of Financial Markets and National Price Levels : The Role of Exchange Rate Volatility
Hoffmann, Mathias - 2016
How does international financial integration affect national price levels? To analyze this question, this paper formulates a two-country open economy sticky-price model under either segmented or complete asset markets. It is shown that the effect of financial integration, i.e. moving from...
Persistent link: https://www.econbiz.de/10012991245
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Cross-Border Investment and the Decline of Exchange Rate Volatility : Implications for Euro Area Bilateral Investments
Giofré, Maela; Sokolenko, Oleksandra - 2021
The exchange rate volatility has witnessed a secular decline after the Bretton Woods collapse. We explore the …. We find indeed that the negative association between bilateral foreign portfolio investments and the volatility of the … volatility in the after-crisis period, the fall in bilateral equity investment in the Euro area disappears …
Persistent link: https://www.econbiz.de/10013229732
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Measuring Long-Run Exchange Rate Pass-Through
de Bandt, Olivier - 2011
The paper discusses the issue of estimating short- and long-run exchange rate pass-through to import prices in euro area countries and reviews some problems with the measures recently proposed in the literature. Theoretical considerations suggest a cointegrating relationship (between import unit...
Persistent link: https://www.econbiz.de/10013132131
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Measuring Long-Run Exchange Rate Pass-Through
de Bandt, Olivier - 2011
The paper discusses the issue of estimating short- and long-run exchange rate pass-through to import prices in euro area countries and reviews some problems with the measures recently proposed in the literature. Theoretical considerations suggest a long-run Engle and Granger cointegrating...
Persistent link: https://www.econbiz.de/10013132423
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Measuring Long-Run Exchange Rate Pass-Through
de Bandt, Olivier - 2010
The paper discusses the issue of estimating short- and long-run exchange rate pass-through to import prices in euro area countries and reviews some problems with the measures recently proposed in the literature. Theoretical considerations suggest a long-run Engle and Granger cointegrating...
Persistent link: https://www.econbiz.de/10013136879
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Interdependence between Eastern and Western European Stock Markets : Evidence from Intraday Data
Égert, Balázs; Kočenda, Evžen - 2007
in terms of stock returns and stock price volatility. Granger causality tests show the presence of bidirectional … causality for returns as well as volatility series. The results based on a VAR framework indicate a more limited number of short …
Persistent link: https://www.econbiz.de/10014049163
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The distribution of the economic activity in European region : identification of cluster
López, Fernando A.; Angulo, Ana M.; Mur, Jésus; Artal … - 2011
Agglomeration economies play an important role in the explanation of the development and regional growth. For this reason, there exists a growing interest in the analysis of standards of co-localisation of the economic activities. This topic has been dealt with from different approaches using a...
Persistent link: https://www.econbiz.de/10011542559