About: The role of foreign trade in the process of financial integration: the case of European Union countries

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
Description	The importance of monetary integration is increasing and the adoption of a common currency has to be accompanied by financial market integration. Using a data sample of EU member countries over the period 1994-2008 we assess the impact of the individual factors which dominated the process of financial market integration in the selected region. The empirical model is estimated by using the econometric method of panel regression. Because of the existence of reverse causality, i.e. the existence of simultaneity between the dependent variable and one of the explanatory variables (foreign trade) of the %22basic%22 model, another equation was added into the model and this simultaneous equations model was then estimated by using the instrumental variables method and the two stage least squares method (the “new” model). We conclude that foreign trade has a positive impact on the financial integration and that increasing financial integration leads to more intensive foreign trade among these countries. However, world trade (and thus financial integration) can be undermined by limiting trade finance as a result of tightening financial regulation and supervision after a decade of loose regulation and supervision. The importance of monetary integration is increasing and the adoption of a common currency has to be accompanied by financial market integration. Using a data sample of EU member countries over the period 1994-2008 we assess the impact of the individual factors which dominated the process of financial market integration in the selected region. The empirical model is estimated by using the econometric method of panel regression. Because of the existence of reverse causality, i.e. the existence of simultaneity between the dependent variable and one of the explanatory variables (foreign trade) of the %22basic%22 model, another equation was added into the model and this simultaneous equations model was then estimated by using the instrumental variables method and the two stage least squares method (the “new” model). We conclude that foreign trade has a positive impact on the financial integration and that increasing financial integration leads to more intensive foreign trade among these countries. However, world trade (and thus financial integration) can be undermined by limiting trade finance as a result of tightening financial regulation and supervision after a decade of loose regulation and supervision. (en)
Title	The role of foreign trade in the process of financial integration: the case of European Union countries The role of foreign trade in the process of financial integration: the case of European Union countries (en)
skos:prefLabel	The role of foreign trade in the process of financial integration: the case of European Union countries The role of foreign trade in the process of financial integration: the case of European Union countries (en)
skos:notation	RIV/61989100:27510/12:86084335!RIV13-GA0-27510___
http://linked.open...avai/predkladatel	Ekonomická fakulta
http://linked.open...avai/riv/aktivita	P
http://linked.open...avai/riv/aktivity	P(GAP403/11/2073)
http://linked.open...vai/riv/dodaniDat	2013
http://linked.open...aciTvurceVysledku	Kučerová, Zuzana
http://linked.open.../riv/druhVysledku	D - Článek ve sborníku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Vysoká škola báňská - Technická univerzita Ostrava / Ekonomická fakulta
http://linked.open...dnocenehoVysledku	166000
http://linked.open...ai/riv/idVysledku	RIV/61989100:27510/12:86084335
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	financial integration, foreign trade, international investment position (en)
http://linked.open.../riv/klicoveSlovo	financial integration international investment position foreign trade
http://linked.open...ontrolniKodProRIV	[D2D8AFAEEB18]
http://linked.open...v/mistoKonaniAkce	Karviná
http://linked.open...i/riv/mistoVydani	Opava
http://linked.open...i/riv/nazevZdroje	Proceedings of 30th International Conference Mathematical Methods in Economics : 11-13 September 2012, Karviná, Czech Republic
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	1 (xsd:int)
http://linked.open...cetTvurcuVysledku	1 (xsd:int)
http://linked.open...vavai/riv/projekt	Procyclicality of financial markets, asset price bubbles and macroprudential regulation
http://linked.open...UplatneniVysledku	2012
http://linked.open...iv/tvurceVysledku	Kučerová, Zuzana
http://linked.open...vavai/riv/typAkce	EUR - Evropská
http://linked.open.../riv/zahajeniAkce	2012-09-11 (xsd:date)
number of pages	6 (xsd:int)
http://purl.org/ne...btex#hasPublisher	Slezská univerzita v Opavě
https://schema.org/isbn	978-80-7248-779-0
http://localhost/t...ganizacniJednotka	27510
is http://linked.open...avai/riv/vysledek of	The role of foreign trade in the process of financial integration: the case of European Union countries

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