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This paper examines the long-term financial integration of second-round acceding and candidate countries?? with the European Union and the US stock markets during the Accession Process. The lowpair wise correlations between these markets imply portfolio diversification opportunities, yet...
Persistent link: https://www.econbiz.de/10009483198
This paper examines the long-term financial integration of second-round acceding and candidate countries’ with the European Union and the US stock markets during the Accession Process. The lowpair wise correlations between these markets imply portfolio diversification opportunities, yet...
Persistent link: https://www.econbiz.de/10004969234
This paper analyzes two channels of business cycle convergence, which are subsequently applied to the EU acceding countries. First, trade intensity and intra-industry trade is found to induce a convergence of business cycles. This finding confirms the OCA endogeneity hypothesis. Second, labor...
Persistent link: https://www.econbiz.de/10005029417
This report explores some features of the social dimension of enlargement regarding the Southern EU-Member countries …, capital and labour, Eastward Enlargement will affect the location of economic activities, innovation, and technology … aspects have been analysed in several studies, stressing that the regional and social dimension of enlargement as well as the …
Persistent link: https://www.econbiz.de/10010266841
This paper explores the conflict of real and monetary convergence during the EMU run-up of the future Central and …
Persistent link: https://www.econbiz.de/10009483190
The paper discusses the framework of ERM2 (the exchange rate mechanism of EMU, the Economic and Monetary Union) and its … of EMU). Second it reviews how ERM2 is conducive to future euro-zone membership of the accession countries. From the …
Persistent link: https://www.econbiz.de/10009483197
The enlargement of the European monetary union to include new EU Member States (NMs) will not lead to higher expected …
Persistent link: https://www.econbiz.de/10009483201
This paper studies the incentives to join or enlarge a monetary union under alternative assumptions about the extent of market reform within the union and in candidate countries. Lack of labour mobility, wage/price flexibility or fiscal reform brings costs for both new entrants and in the...
Persistent link: https://www.econbiz.de/10011689914
Persistent link: https://www.econbiz.de/10012154825
market economy. The enlargement was (and always is) the most significant and the most ambitious European project since the … to the twenty-five member countries, with accession of ten New Member States (NMS). The process of enlargement has … Union (EMU) and the process of integration are the major points of the Europe of twenty-seven member countries. The process …
Persistent link: https://www.econbiz.de/10010969050