Economics at your fingertips  

Linkages between the euro zone and the south-eastern European countries: a global VAR analysis

Minoas Koukouritakis (), Athanasios Papadopoulos () and Andreas Yannopoulos
Additional contact information
Andreas Yannopoulos: University of Crete

No 163, Working Papers from Bank of Greece

Abstract: In the present paper we assess the impact of the Eurozone’s economic policies on specific South-Eastern European countries, namely Bulgaria, Croatia, Cyprus, Greece, Romania, Slovenia and Turkey. Since these countries are connected to the EU or the Eurozone and economic interdependence among them is continuously evolving, we implemented a Global VAR model. Our results indicate that all sample countries, except Turkey, react in a similar manner to changes (a) in the macroeconomic policies of the Eurozone, and (b) in the nominal exchange rate of the euro against the US dollar. There is evidence of linkages among the EU or Eurozone members of the region, and between each of them and the Eurozone.

Keywords: Monetary Transmission; Global VAR Model; Weak Exogeneity; Impact Elasticities; Generalised Impulse Responses. (search for similar items in EconPapers)
JEL-codes: E43 F15 F42 (search for similar items in EconPapers)
Pages: 42
Date: 2013-10
New Economics Papers: this item is included in nep-eec, nep-opm and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link) Full Text (application/pdf)

Related works:
Journal Article: Linkages between the Eurozone and the South-Eastern European countries: A global VAR analysis (2015) Downloads
Working Paper: Linkages between the Eurozone and the South-Eastern European Countries: A Global VAR Analysis (2013) Downloads
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:

Access Statistics for this paper

More papers in Working Papers from Bank of Greece Contact information at EDIRC.
Bibliographic data for series maintained by Christina Tsochatzi ().

Page updated 2021-04-12
Handle: RePEc:bog:wpaper:163