Economic integration and financial stability : a European perspective /
This paper assesses changes in synchronization of real activity and financial market integration in Western Europe and evaluates their implications for financial stability. We find increased synchronization of real activity since the early 1980s and increased equity markets integration since the ear...
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| Main Authors: | , |
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| Corporate Author: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
[Washington, D.C.] :
International Monetary Fund,
2006.
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| Series: | IMF working paper ;
WP/06/296. |
| Subjects: | |
| Online Access: |
Full text (Emmanuel users only) |
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| 100 | 1 | |a De Nicoló, Gianni, |e author. | |
| 245 | 1 | 0 | |a Economic integration and financial stability : |b a European perspective / |c prepared by Gianni De Nicolò and Alexander Tieman. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c 2006. | ||
| 300 | |a 1 online resource (28 pages) : |b illustrations | ||
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| 490 | 1 | |a IMF working paper ; |v WP/06/296 | |
| 504 | |a Includes bibliographical references (pages 26-28). | ||
| 505 | 0 | |a Economic Integration and Financial Stability: A European Perspective -- Contents -- I. INTRODUCTION -- II. SYNCHRONIZATION OF REAL ACTIVITY -- III. EQUITY MARKETS INTEGRATION -- IV. SYSTEMIC RISK AND INTEGRATION -- V. CONCLUSION -- Table 1. EGARCH Estimates for the Common Components of IPG -- Table 2. EGARCH Estimates for Cross-Country Variances of IPG and De-Trended IPG -- Table 3. Country-by-Country EGARCH Estimates for IPG -- Table 4. Dependent Variables: Cross-Country Variance of IEDFs and Country IEDFs | |
| 505 | 8 | |a ""Table 5. Dependent Variables: Cross-Country Variance of Portfolios� DDs""""Table 6. Dependent Variable: Banks DDs Changes""; ""Table 7. Dependent Variable: Insurance DDs Changes""; ""Appendix Table 1. Banks and Insurance Companies""; ""REFERENCES"" | |
| 506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
| 520 | |a This paper assesses changes in synchronization of real activity and financial market integration in Western Europe and evaluates their implications for financial stability. We find increased synchronization of real activity since the early 1980s and increased equity markets integration since the early 1990s. We also find that measures of systemic risk at large European financial institutions have not declined during the period 1990-2004 and that bank systemic risk profiles have converged. At the same time, the sensitivity of bank and insurance systemic risk measures to common real and financial shocks has increased in most countries. Overall, these results suggest that the integration process does not necessarily entail an unambiguously positive effect on financial stability. | ||
| 533 | |a Electronic reproduction. |b [Place of publication not identified] : |c HathiTrust Digital Library, |d 2010. |5 MiAaHDL | ||
| 538 | |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
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| 650 | 0 | |a Fiscal policy |z Europe |x Econometric models. | |
| 650 | 0 | |a Finance |z Europe |x Econometric models. | |
| 651 | 0 | |a Europe |x Economic integration |x Econometric models. | |
| 651 | 0 | |a Europe |x Economic conditions |x Econometric models. | |
| 700 | 1 | |a Tieman, Alexander F., |e author. | |
| 710 | 2 | |a International Monetary Fund. | |
| 758 | |i has work: |a Economic integration and financial stability (Text) |1 https://id.oclc.org/worldcat/entity/E39PCGftTt7YdYgYtX9VyHMTMd |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a De Nicoló, Gianni. |t Economic integration and financial stability. |d [Washington, D.C.] : International Monetary Fund, ©2006 |w (OCoLC)163877397 |
| 830 | 0 | |a IMF working paper ; |v WP/06/296. | |
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