Publication detail

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

KUČEROVÁ, Z. POMĚNKOVÁ, J.

Original Title

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

Type

journal article in Web of Science

Language

English

Original Abstract

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.

Keywords

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

Authors

KUČEROVÁ, Z.; POMĚNKOVÁ, J.

RIV year

2015

Released

2. 10. 2015

Publisher

Ekonomický ústav SAV a Prognostický ústav SAV

Location

Bratislava

ISBN

0013-3035

Periodical

Journal of Economics

Year of study

63

Number

7

State

Slovak Republic

Pages from

686

Pages to

704

Pages count

19

BibTex

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