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Title: Bond markets integration in the EU: New empirical evidence from the Eastern non-euro member-states
Authors: Stoupos, Nikolaos
Kiohos, Apostolos
Type: Article
Subjects: FRASCATI::Social sciences::Economics and Business::Finance
Keywords: Bond markets
EU unification
Financial integration
Financial integration
EU CEE economies
Directional volatility spillovers
Issue Date: Nov-2022
Publisher: Elsevier
Source: The North American Journal of Economics and Finance
Volume: 63
First Page: 101827
Abstract: The financial integration among the member-states in the long run inside the union constitutes an important task of the EU officials and policy makers. The sovereign-debt crisis of the Eurozone decelerated its economic integration and subsequently increased the unwillingness of the non-euro member-states to join the monetary union. In the light of this background, the research aim of this manuscript is to examine the bond markets integration among the EU CEE non-euro countries and the EA Big-5 economies. The empirical evidence supports that the Eastern member-states’ bond markets integration is heterogeneous and disparate. Lastly, the directional volatility spillovers, unveil that the volatility effects on the EU CEE non-euro bond markets are diversified revealing the leading role of EA core bond markets.
ISSN: 1062-9408
Other Identifiers: 10.1016/j.najef.2022.101827
Appears in Collections:Department of International and European Studies

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