Following in their Footsteps: Comparing Interest Parity Conditions in Central European Economies to the Euro Countries

Kashif Mansori

No 1020, CESifo Working Paper Series from CESifo

Abstract: This paper investigates capital market integration in the major Central European emerging economies by testing the covered and uncovered interest parity conditions vis-à-vis the U.S. dollar and the DM/euro. The results for the Central European economies since 1997 are contrasted against those of the euro countries during the period preceding the introduction of the euro. This allows a comparison of conditions in the capital markets in the Central European economies versus those in the pre-euro EU. The results suggest that capital mobility and exchange rate market efficiency in Central Europe are remarkably similar to conditions in the EU during the 1990s.

Keywords: covered interest parity; uncovered interest parity; Central Europe; EU enlargement (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_1020

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