Financial Integration, GDP Correlation and the Endogeneity of Optimum Currency Areas
Bibliographic Data
| ID | 9723963 |
|---|---|
| Authors | Stefano Schiavo (0000-0001-9740-5167, Institut d'Etudes Politiques de Paris, corresponding author) |
| Year | 2008 |
| Volume | 75 |
| Issue | 297 |
| Pages | 168-189 |
| Publication date | 2008-02-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1468-0335.2007.00598.x |
| OpenAlex | W3023956921 |
| Language | EN |
| References cited | 36 |
The paper analyses the relationship between trade, financial integration and business cycle synchronization in the euro area. The introduction of the euro has had a noticeable impact on European financial markets. Evidence that capital market integration exerts a positive effect on output correlation has two major implications. First, it corroborates the hypothesis of the endogeneity of optimum currency areas, whereby after joining a monetary union countries better meet standard OCA criteria; second, it provides European policy‐makers with yet another reason to pursue financial integration in the euro area (and in prospective members as well)
Business · Currency · Econometrics · Economics · Endogeneity · Financial Integration · Financial market · Financial system · Monetary economics · European Monetary and Fiscal Policies · Finance · Global Financial Crisis and Policies · Monetary Policy and Economic Impact
Lessons of Massachusetts for EMU
Dynamic panel data models
One money, one market
An account of geographic concentration patterns in Europe
Trade, Finance, Specialization, and Synchronization
Measuring Business Cycles
EMU versus the regions? Regional convergence and divergence in Euroland
The Endogenity of the Optimum Currency Area Criteria
Monetary Union and the Economic Geography of Europe
| Citation velocity | historical |
|---|---|
| Highly cited | No |