Approaching Monetary Integration in the Context of the Imperative to Ensure the Sustainable Growth in the EU
| Autor: | Ovidiu Stoica, Otilia-Roxana Oprea, Ionel Bostan |
|---|---|
| Rok vydání: | 2020 |
| Předmět: |
media_common.quotation_subject
lcsh:TJ807-830 Geography Planning and Development lcsh:Renewable energy sources Context (language use) Monetary economics Management Monitoring Policy and Law SEPA instruments Debt 0502 economics and business Economics media_common.cataloged_instance Single Euro Payments Area European Union 050207 economics European union sustainable economic convergence lcsh:Environmental sciences media_common lcsh:GE1-350 050208 finance Renewable Energy Sustainability and the Environment lcsh:Environmental effects of industries and plants 05 social sciences Financial integration Convergence (economics) Interest rate lcsh:TD194-195 banking and monetary integration Sustainable growth rate |
| Zdroj: | Sustainability, Vol 12, Iss 7065, p 7065 (2020) Sustainability Volume 12 Issue 17 |
| ISSN: | 2071-1050 |
| DOI: | 10.3390/su12177065 |
| Popis: | Sustainable economic growth is an essential objective at the European Union level. The purpose of this paper is to investigate the impact of monetary integration on economic growth, assuming that the introduction of the euro significantly stimulated the process of European financial integration. We used a fixed-effects methodology for panel data for the EU 28 countries for the period 2004&ndash 2018. We find that the main factors through which monetary integration contributessignificantly and positively to economic growth areeconomic growth Single Euro Payments Area (SEPA)cards, trade, monetary freedom, convergence of interest rates, convergence of exchange rates and cross-border holdings of short-term debt, with significant differences between Eurozone and non-euro countries, which confirms the hypothesis that the introduction of the euro had a significant impact on economic and financial integration. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
|