Economic and Financial Integration of CEECs: The Impact of Financial Instability
The recent financial crisis had a powerful impact upon the European countries' economies, in particular on those from Central and Eastern Europe, with some small exceptions. Thus, applying a panel data approach for a large sample of CEECs, we demonstrate that financial instability negatively influences these countries economic and financial integration. If instability is measured by means of a financial instability index, we have used two classical indicators for the economic integration, namely trade openness and trade intensity index. Indicators such as the interest rates co-movement and the asset share of foreign-owned banks were chosen to calculate financial integration. We highlight the fact that the crisis events hinder the process of CEECs' integration into the EU, deepening the economic gaps between more and less developed EU members.
Volume (Year): 5 (2011)
Issue (Month): 1 (March)
|Contact details of provider:|| Postal: |
Phone: +420 2 222112330
Fax: +420 2 22112304
Web page: http://ies.fsv.cuni.cz/
More information through EDIRC
|Order Information:|| Web: http://auco.cuni.cz/ Email: |
References listed on IDEAS
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.:
- Yuliya Demyanyk & Vadym Volosovych, 2007.
"Gains from financial integration in the European union: evidence for new and old members,"
Supervisory Policy Analysis Working Papers
2007-01, Federal Reserve Bank of St. Louis.
- Demyanyk, Yuliya & Volosovych, Vadym, 2008. "Gains from financial integration in the European Union: Evidence for new and old members," Journal of International Money and Finance, Elsevier, vol. 27(2), pages 277-294, March.
- Yuliya Demyanyk & Vadym Volosovych, 2006. "Gains from Financial Integration in the European Union: Evidence for New and Old Members," Working Papers 06009, Department of Economics, College of Business, Florida Atlantic University, revised Aug 2007.
- Francisco Pérez García & Joaquín Maudos Villarroya & Juan Francisco Fernández de Guevara Radoselovics, 2003.
"Integration And Competition In The European Financial Markets,"
Working Papers. Serie EC
2003-12, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Fernandez de Guevara, Juan & Maudos, Joaquin & Perez, Francisco, 2007. "Integration and competition in the European financial markets," Journal of International Money and Finance, Elsevier, vol. 26(1), pages 26-45, February.
- Benassy-Quere, A. & Fontagne, L. & Lahreche-Revil, A., 2000.
"Exchange Rate Strategies in the Competition for Attracting FDI,"
Papiers d'Economie MathÃ©matique et Applications
2000.07, UniversitÃ© PanthÃ©on-Sorbonne (Paris 1).
- Agnès Bénassy-Quéré & Lionel Fontagné & Amina Lahrèche-Revil, 1999. "Exchange Rate Strategies in the Competition for Attracting FDI," Working Papers 1999-16, CEPII research center.
- Mark Illing & Ying Liu, 2003. "An Index of Financial Stress for Canada," Working Papers 03-14, Bank of Canada.
- Lucia Tajoli & Lucia De Benedictis, 2006.
"Economic Integration and Similarity in Trade Structures,"
2006.54, Fondazione Eni Enrico Mattei.
- Luca Benedictis & Lucia Tajoli, 2007. "Economic integration and similarity in trade structures," Empirica, Springer, vol. 34(2), pages 117-137, April.
When requesting a correction, please mention this item's handle: RePEc:fau:aucocz:au2011_027. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lenka Stastna)
If references are entirely missing, you can add them using this form.