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Regional and Inter-Regional Financial Integration : ASEM Equity Markets
Jaccob, Dina - 2014
the introduction of euro. This book contributes by applying co-integration techniques, within which correlation matrix and …
Persistent link: https://www.econbiz.de/10013049408
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Econometric analysis of integration of selected new eu member cee stock markets with global stock market and eurozone : impact of global financial crisis
Sucháček, Jan; Koutský, Jaroslav; Caridad y López … - In: Amfiteatru economic : an economic and business research … 23 (2021) 58, pp. 824-842
' stock markets with the eurozone only. Hence, this paper aims to investigate, compare and interpret integration among stock … and the eurozone equity market within 2004-2018. The added value of this article consists especially in using a wider … spectrum of econometric tools (cointegration, VAR model, Granger causality, variance decomposition) and comparison of changes …
Persistent link: https://www.econbiz.de/10012939609
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Cross-border banking in regulated markets : is financial integration desirable?
Haufler, Andreas; Wooton, Ian - 2016
We set up a two-country, regional model of trade in financial services. Competitive firms in each country manufacture untraded consumer goods in an uncertain productive environment, borrowing funds from a bank in either the home or the foreign market. Duopolistic banks can choose their levels of...
Persistent link: https://www.econbiz.de/10011554376
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The Real Effects of Financial Integration
Imbs, Jean M. - 2005
This paper shows correlations in GDP fluctuations rise with financial integration. Finance serves to increase international correlations in both consumption and GDP fluctuations, which explains the persistent gap between the two in the data, a quantity puzzle. The positive association between...
Persistent link: https://www.econbiz.de/10014062990
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The Real Effects of Financial Integration
Imbs, Jean M. - 2004
Fluctuations in GDP are more synchronized internationally than fluctuations in Consumption, and they remain so even between financially integrated economies, where the ranking should in theory be the reverse. This paper shows this happens because correlations in GDP fluctuations rise with...
Persistent link: https://www.econbiz.de/10014073270
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An empirical study of the impact of the Euro on cross-country diversification
Diro Ejara, Demissew; Upadhyaya, Kamal Prasad - In: Economies : open access journal 12 (2024) 1, pp. 1-21
after the euro. There is no evidence of cointegration after the adoption of the euro. Cross-country portfolio …The euro was launched, on 1 January 1999, as a common currency for members of the European Union that complied with the … impact of the euro on the degree of market integration by looking at the comovement of the European equity markets and a …
Persistent link: https://www.econbiz.de/10014496391
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Financial Integration in a Changing World
Byrne, Joseph - 2017
Given the rapidly evolving nature of financial globalization, this paper models and predicts financial integration in a changing world. By decomposing integration into global risk, local risk and estimation risk, we argue that greater integration is mainly driven by global factors, not...
Persistent link: https://www.econbiz.de/10012949969
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Market impact on financial market integration : cross-quantilogram analysis of the global impact of the euro
Lindman, Sebastian; Tuvhag, Tom; Jayasekera, Ranadeva; … - In: Journal of empirical finance 56 (2020), pp. 42-73
Persistent link: https://www.econbiz.de/10012430408
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Risk sharing by financial markets in federal systems : what do we really measure?
Dullien, Sebastian - 2017
This paper criticises the standard methodology used to measure the importance of different channels of risk sharing in federal states such as the one used in Asdrubali et al.'s (1996) seminal contribution. It argues that the methodology chosen in these papers systematically underestimates the...
Persistent link: https://www.econbiz.de/10011919725
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The role of systemic risk spillovers in the transmission of Euro area monetary policy
Skouralis, Alexandros - 2021
This paper empirically investigates the transmission of systemic risk across the Euro Area by employing a Global VAR …
Persistent link: https://www.econbiz.de/10012704731