 Bond markets integration in the EU: New empirical evidence from the Eastern non-euro member-statesNikolaos Stoupos and Apostolos Kiohos The North American Journal of Economics and Finance, 2022, vol. 63, issue C 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. Keywords: Bond markets; FCVAR; EU unification; Financial integration; EU CEE economies; Directional volatility spillovers (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:ecofin:v:63:y:2022:i:c:s1062940822001620 DOI: 10.1016/j.najef.2022.101827 Access Statistics for this article The North American Journal of Economics and Finance is currently edited by Hamid Beladi More articles in The North American Journal of Economics and Finance from Elsevier |
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