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Bilateral Imbalances in Europe

Author

Listed:
  • Berger, Helge
  • Nitsch, Volker

Abstract

This paper examines the association between trade and financial linkages among European countries. We find that, with the introduction of the euro, trade imbalances among euro area members widened considerably, even after allowing for permanent asymmetries in trade competitiveness within pairs of countries or in the overall trade competitiveness of individual countries. Moreover, there is a significant relationship between patterns of trade and bilateral financial linkages, especially within the euro area; a surplus of a country in a bilateral trade relationship is typically accompanied by a country’s positive net financial position vis-à-vis the respective partner country.

Suggested Citation

  • Berger, Helge & Nitsch, Volker, 2012. "Bilateral Imbalances in Europe," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 77396, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    • Handle: RePEc:dar:wpaper:77396
    Note: for complete metadata visit http://tubiblio.ulb.tu-darmstadt.de/77396/
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    File URL: http://tuprints.ulb.tu-darmstadt.de/4712
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    Cited by:

    1. Sarah Meyer & Sieglinde Rosenberger, 2015. "Just a Shadow? The Role of Radical Right Parties in the Politicization of Immigration, 1995–2009," Politics and Governance, Cogitatio Press, vol. 3(2), pages 1-17.
    2. Sergio Cesaratto, 2013. "The implications of TARGET2 in the European balance of payments crisis and beyond," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(3), pages 359-382.
    3. Nitsch, Volker & Berger, Helge, 2013. "On the Persistence of Trade Imbalances: Evidence from Europe," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 77398, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    4. Mirdala, Rajmund, 2015. "Real Exchange Rates, Current Accounts and Competitiveness Issues in the Euro Area," MPRA Paper 68864, University Library of Munich, Germany.
    5. Mirdala, Rajmund & Semančíková, Jozefína & Ruščáková, Anna, 2019. "Determinants of Export and Import Functions in the EU Member Countries," MPRA Paper 99535, University Library of Munich, Germany.

    More about this item

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission

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