Kiel Working Papers, Kiel Institute for World Economics
No 917:
Real and Financial Integration in Europe ; Evidence for the Accession States and for the Pre-Ins
Claudia M. Buch and Jörg Döpke
Abstract: The process of European integration has gained
considerable momentum during the past couple of years. This paper provides
an assessment of the degree of integration of both the accession states of
central and eastern Europe and of the pre-ins for monetary union with
respect to Germany. Using tests for cointegration and common features for
monthly data during the 1990s, we find evidence for financial rather than
real integration.
Keywords: European integration, accession states, European Monetary Union, common features tests, cointegration; (follow links to similar papers)
JEL-Codes: C32; E32; F36; (follow links to similar papers)
35 pages, March 1999
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