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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" }