Detail publikačního výsledku

Financial and Trade Integration of Selected EU Regions: Dynamic Correlation and Wavelet Approach

KUČEROVÁ, Z.; POMĚNKOVÁ, J.

Originální název

Financial and Trade Integration of Selected EU Regions: Dynamic Correlation and Wavelet Approach

Anglický název

Financial and Trade Integration of Selected EU Regions: Dynamic Correlation and Wavelet Approach

Druh

Článek WoS

Originální abstrakt

We evaluate the process of financial and trade integration in 26 European Union (EU) coun-tries over the period 1993-2012. We distinguish between “new” and “old” EU countries to compare the processes of financial and trade integration in the developed countries and for-merly central-planned economies. We use classical and moving correlation, dynamic correla-tion, and wavelet cospectrum. Classical and moving correlation shows the strong relation until 2008). Dynamic correlation confirms strong relation for long and business cycle frequencies. Specification via wavelet cospectrum reveals that long frequencies are correlated in the period 2000-09, business cycle frequencies in the period 1993-94 and 2003-04 and middle frequen-cies generally in the period 2008-10. The process of financial integration was stronger in the old EU member countries while the process of trade integration in the new member countries.

Anglický abstrakt

We evaluate the process of financial and trade integration in 26 European Union (EU) coun-tries over the period 1993-2012. We distinguish between “new” and “old” EU countries to compare the processes of financial and trade integration in the developed countries and for-merly central-planned economies. We use classical and moving correlation, dynamic correla-tion, and wavelet cospectrum. Classical and moving correlation shows the strong relation until 2008). Dynamic correlation confirms strong relation for long and business cycle frequencies. Specification via wavelet cospectrum reveals that long frequencies are correlated in the period 2000-09, business cycle frequencies in the period 1993-94 and 2003-04 and middle frequen-cies generally in the period 2008-10. The process of financial integration was stronger in the old EU member countries while the process of trade integration in the new member countries.

Klíčová slova

financial integration, foreign trade, international financial markets, correlation analysis, wavelet cospectrum

Klíčová slova v angličtině

financial integration, foreign trade, international financial markets, correlation analysis, wavelet cospectrum

Autoři

KUČEROVÁ, Z.; POMĚNKOVÁ, J.

Rok RIV

2016

Vydáno

02.10.2015

Nakladatel

Ekonomický ústav SAV a Prognostický ústav SAV

Místo

Bratislava

ISSN

0013-3035

Periodikum

Ekonomický časopis

Svazek

63

Číslo

7

Stát

Slovenská republika

Strany od

686

Strany do

704

Strany počet

19

BibTex

@article{BUT116817,
  author="Zuzana {Kučerová} and Jitka {Dluhá}",
  title="Financial and Trade Integration of Selected EU Regions: Dynamic Correlation and Wavelet Approach",
  journal="Ekonomický časopis",
  year="2015",
  volume="63",
  number="7",
  pages="686--704",
  issn="0013-3035"
}