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Bilateral Imbalances in Europe

Berger, Helge and Nitsch, Volker (2012):
Bilateral Imbalances in Europe.
Darmstadt, In: Darmstadt Discussion Papers in Economics, [Online-Edition: http://tuprints.ulb.tu-darmstadt.de/4712],
[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: 31 Jan 2016 20:56
Official URL: http://tuprints.ulb.tu-darmstadt.de/4712
URN: urn:nbn:de:tuda-tuprints-47126
Additional Information:

JEL Code: F15; F16; F32; F36; F42

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