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Measuring financial integration in the euro area
Baele, Lieven; Ferrando, Annalisa; Hördahl, Peter; … - 2004
In this paper, we present a set of specific measures to quantify the state and evolution of financial integration in the euro area. Five key markets are considered, namely the money, corporate bond, government bond, credit and equity markets. Building upon the law of one price, we developed two...
Persistent link: https://www.econbiz.de/10011606166
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Convergence in European retail payments
Martikainen, Emmi; Schmiedel, Heiko; Takalo, Tuomas - 2013
Financial integration in some segments of the financial markets started to deteriorate during the recent period of economic turmoil in Europe. This paper examines whether this phenomenon also holds true for the European retail payments market. In comparison with other segments of the financial...
Persistent link: https://www.econbiz.de/10011606299
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The side effects of national financial sector policies: framing the debate on financial protectionism
Beck, Roland; Beirne, John; Paternò, Francesco; … - 2015
The decrease of financial integration both at the global and European level reflects, to a certain extent, a market response to the crisis. It might, however, also be partly driven by policies such as capital flow management measures (CFMs). In addition, several other measures taken by central...
Persistent link: https://www.econbiz.de/10011606318
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What do we know about the global financial safety net? Rationale, data and possible evolution
Scheubel, Beatrice; Stracca, Livio - 2016
This paper critically reviews the theoretical basis for the provision of the global financial safety net (GFSN) and provides a comprehensive database covering four elements of the GFSN (foreign exchange reserves, IMF financing, central bank swap lines and regional financing arrangements) for...
Persistent link: https://www.econbiz.de/10011606329
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Financial integration in emerging Europe: An enviable development opportunity with tail risks
Iwulska, Aleksandra; Sugawara, Naotaka; Zalduendo, Juan - 2012
This paper draws on the experience of emerging Europe and argues that foreign capital is an enviable development opportunity with tail risks. Financial integration and foreign savings supported growth in the EU12 and EU candidate countries. We argue that this was possible because of EU...
Persistent link: https://www.econbiz.de/10011430894
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Business cycle synchronisation in the ECOWAS region
Egbuna, Ngozi Eunice; John-Sowe, Maimuna; Kargbo, … - 2020
Countries of the Economic Community of West African States (ECOWAS) are heterogeneous, characterized by marked differences in production and export structures, divergent levels of inflation rates and fiscal positions. These features suggest that there is a greater tendency for the transmission...
Persistent link: https://www.econbiz.de/10013362888
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Central Banking and the Choice of Currency Regime in Accession Countries
Buiter, Willem H.; Grafe, Clemens - 2001
The subject matter of this paper is the design of appropriate Central Banking arrangements and exchange rate regimes for those former centrally planned Central and East European countries that are candidates for full membership in the European Union. We give an overview of the existing...
Persistent link: https://www.econbiz.de/10011689895
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The Adoption of the Euro, Choice of Currency Regime and Integration of Payment Systems
Bonello, Michael C.; von Furstenberg, George M.; … - 2006
1) The Adoption of the Euro by New Member States: Challenges and Vulnerabilities by Michael C. Bonello 2) The Economics of Offshore Financial Services and the Choice of Tax, Currency, and Exchange-Rate Regimes by George M. von Furstenberg 3) Promoting Integration of European Retail Payment...
Persistent link: https://www.econbiz.de/10011689927
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The impact of energy prices on green innovation: Study on behalf of the Swiss Federal Office of Energy SFOE
Ley, Marius; Stucki, Tobias; Woerter, Martin - 2013
industry level the impact of energy prices on green innovation activities. Our econometric models show that energy prices and … green innovation activities are positively related and that energy prices have a significantly positive impact on the ratio … lag between energy prices and innovation activities. Robustness tests confirm the main results. …
Persistent link: https://www.econbiz.de/10011386846
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What are service sector innovations and how do we measure them?
Szczygielski, Krzysztof - 2011
Services dominate all advanced economies but service innovations are still an underresearched topic. One of the reasons are definitional and measurement difficulties. The goal of the paper is to highlight those by reviewing recent literature and to assess the current state of knowledge and...
Persistent link: https://www.econbiz.de/10011430870