A NONPARAMETRIC APPROACH TO THE FINANCIAL CONVERGENCE IN THE EUROPEAN UNION

Monica Răileanu Szeles ()

Theoretical and Applied Economics, 2011, vol. 5(558)(supplement), issue 5(558)(supplement), 660-667

Abstract: The paper studies the process of financial convergence in the EU, by using the stochastic Kernel density estimation. The analysis uses monthly data on the 10-year government bond yields from a number of 11 EU old Member States, and the period of analysis is 1980-2010. The paper finds evidence of convergence on long term and evidence of divergence on short term. The effects of the global financial crisis on the financial convergence are also debated. In subsidiary, the paper underlines the weak points of the traditional techniques in the convergence analysis as well as the advantages provided by the Kernel density estimation.

Keywords: financial convergence; stochastic kernel; bonds. (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations:

Downloads: (external link)
http://store.ectap.ro/suplimente/Conferinta%20FABBV%202010_engleza.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:5(558)(supplement):y:2011:i:5(558)(supplement):p:660-667

Access Statistics for this article

Theoretical and Applied Economics is currently edited by Mircea Dinu

More articles in Theoretical and Applied Economics from Asociatia Generala a Economistilor din Romania / Editura Economica Contact information at EDIRC.
Bibliographic data for series maintained by Mircea Dinu ().