Price Indicators as a Measure of Credit Market Integration in the Visegrad Countries
AbstractIn this paper we assess with price indicators the extent to which credit markets in the Visegrad countries are integrated with the Eurozone countries and we test the hypothesis that the markets of loans provided to nonfinancial companies are more integrated than the markets of loans provided to households in the Visegrad countries. Analysis is based on monthly values of four interest rates for the period January 2005-March 2010. Convergence is taking place in all the analyzed segments of credit market. However, the speed of convergence and the degree of convergence differs among market segments and countries. The tested hypothesis has not been fully confirmed: the markets of loans to nonfinancial companies are more integrated than the consumer loan markets, but less integrated than the mortgage loan markets.
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Bibliographic InfoArticle provided by Institute for Economic Forecasting in its journal Romanian Journal for Economic Forecasting.
Volume (Year): (2012)
Issue (Month): 1 (March)
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credit market integration; price indicators; beta convergence; sigma convergence; Visegrad countries;
Find related papers by JEL classification:
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ian Babetskii & Lubos Komarek & Zlatuse Komarkova, 2007.
"Financial Integration of Stock Markets among New EU Member States and the Euro Area,"
2007/7, Czech National Bank, Research Department.
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- Babecký, Jan & Komárek, Luboš & Komárková, Zlatuše, 2008. "Financial Integration of Stock Markets among New EU Member States and the Euro Area," The Warwick Economics Research Paper Series (TWERPS) 849, University of Warwick, Department of Economics.
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