Did the Austrian Financial Market Become more Integrated with the German Market after EU Accession? - Il mercato finanziario austriaco si è integrato maggiormente con quello tedesco dopo l’adesione all’Unione europea?

Abdulnasser Hatemi-J

Economia Internazionale / International Economics, 2010, vol. 63, issue 3, 297-304

Abstract: This paper empirically investigates whether the Austrian EU membership in 1995 resulted in more financial integration with Germany. A method recently developed in the literature that is robust to non-normality and timevarying volatility is used. It is found that EU membership has not resulted in more integration between the two markets. Additionally, the correlation between the markets is still positive and statistically significant. The financial economic implications of the empirical findings are explained in the main text. - Questo studio presenta un’analisi empirica sulla questione se l’adesione austriaca all’Unione europea del 1995 si è tramutata in un’integrazione finanziaria maggiore con la Germania. Viene utilizzato un metodo robusto alla non-normalità e alla volatilità time-varying. Non vi sono evidenze che l’adesione all’Unione europea si sia tramutata in una maggiore integrazione tra i due mercati. Nel lavoro vengono illustrate le implicazioni economico-finanziarie dei risultati empirici ottenuti.

Keywords: Financial Integration; Austria; Germany; EU (search for similar items in EconPapers)
JEL-codes: C22 F36 G15 (search for similar items in EconPapers)
Date: 2010
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