a special emphasis on the first year of the euro. A contribution is made as to how to measure these roles, both for … identification of changes in the role of the euro during 1999 compared to the aggregate of euro predecessor currencies, net of intra … -euro area assets/liabilities, before stage 3 of EMU. A number of key factors determining the currency distribution of …

the member countries. The initial hypothesis regarding the impact of euro launch in terms of Foreign Direct Investment … theory and empirical research like market size, labor cost, openness, technology, interest rate and introduction of the Euro …