Berger, Helge and Nitsch, Volker (2012):
Bilateral Imbalances in Europe.
In: Darmstadt Discussion Papers in Economics, 214, Darmstadt, [Report]
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.
| Item Type: | Report |
|---|---|
| Erschienen: | 2012 |
| Creators: | Berger, Helge and Nitsch, Volker |
| Title: | Bilateral Imbalances in Europe |
| Language: | English |
| 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. |
| Series Name: | Darmstadt Discussion Papers in Economics |
| Volume: | 214 |
| Place of Publication: | Darmstadt |
| Uncontrolled Keywords: | trade balance, international investment position, euro, EMU, European integration |
| Divisions: | 01 Department of Law and Economics 01 Department of Law and Economics > Volkswirtschaftliche Fachgebiete 01 Department of Law and Economics > Volkswirtschaftliche Fachgebiete > International Economics |
| Date Deposited: | 11 Jul 2012 12:13 |
| Official URL: | http://econstor.eu/bitstream/10419/84879/1/719956080.pdf |
| Additional Information: | JEL Code: F15; F16; F32; F36; F42 |
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