Balkan Countries: Catching Up and Their Integration in the European Financial System
| Autor: | Anna Tykhonenko, Fabienne Bonetto, Srdjan Red |
|---|---|
| Přispěvatelé: | Centre d'Etudes en Macroéconomie et Finance Internationale (CEMAFI), Université Nice Sophia Antipolis (... - 2019) (UNS), COMUE Université Côte d'Azur (2015-2019) (COMUE UCA)-COMUE Université Côte d'Azur (2015-2019) (COMUE UCA), Université Côte d'Azur (UCA), Groupe de Recherche en Droit, Economie et Gestion (GREDEG), COMUE Université Côte d'Azur (2015-2019) (COMUE UCA)-COMUE Université Côte d'Azur (2015-2019) (COMUE UCA)-Centre National de la Recherche Scientifique (CNRS)-Université Côte d'Azur (UCA) |
| Rok vydání: | 2013 |
| Předmět: |
Macroeconomics
Market capitalization Process (engineering) Control (management) Financial system Sample (statistics) jel:N2 0502 economics and business Economics media_common.cataloged_instance European Union Financial systems jel:O47 050207 economics European union ComputingMilieux_MISCELLANEOUS media_common Estimation Finance-growth model estimations 050208 finance Balkan countries lcsh:Economic theory. Demography 05 social sciences jel:C51 Balkan countries European Union Financial systems Convergence Empirical analysis Finance-growth model estimations Convergence (economics) Empirical analysis [SHS.ECO]Humanities and Social Sciences/Economics and Finance jel:G10 lcsh:HB1-3840 jel:P34 jel:O16 Convergence General Economics Econometrics and Finance Panel data |
| Zdroj: | Panoeconomicus Panoeconomicus, 2009, LVI (4), pp.475-489 Panoeconomicus, Vol 56, Iss 4, Pp 475-489 (2009) Panoeconomicus, Economists' Association of Vojvodina, 2009, 56 (4), pp.475-489. ⟨10.2298/PAN0904475B⟩ |
| ISSN: | 1556-5068 1452-595X |
| DOI: | 10.2139/ssrn.2236726 |
| Popis: | International audience; This paper aims to illustrate the impact of financial variables on the process of convergence between selected European Union countries and the Balkan countries. Following a delay in the realization of structural changes resulting from the historical legacy and circumstances in which the transition process took place, Balkan countries began essential reforms in their financial systems at the end of 1990s. This included the adoption of concrete measures directed towards the growth and increase of the financial sector efficiency. Given this we use panel data over the period 1999-2007 for a sample of 21 countries, to test the convergence's hypothesis by the Bayesian iterative estimation method. Here two financial variables are introduced to control the differences in steady-state. Our empirical results sustain the importance of the domestic credit and the market capitalization in the catching-up process by a significant increase in the speed of convergence. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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