The shift from carbon-based to green energy is pivotal in addressing climate change. However, this transition expensive, and the availability of financing sources a necessary precondition for transformation economy. We therefore examine role financial institutions capital markets facilitating change, focusing on heterogeneous sample 32 EU ASEAN countries covering years 2000 2020. Our findings reveal persistent preference by banks carbon-intensive production, negatively impacting renewable...

This article tests the endogeneity hypothesis of optimum currency area (OCA) criteria in a cross‐section OECD countries 1990s. It argues that intraindustry trade induces convergence business cycles, while no direct relation between cycles and bilateral intensity is found. finding confirms OCA hypothesis, but it underlines role specialization. Furthermore, implies comparable degree cycle harmonization Central Eastern European with EU as for current members medium run. (JEL F15 , F41 )

Abstract The gravity model is used to assess the impact of disintegration on trade among former constituent republics three demised federations in central and eastern Europe: Soviet Union, Yugoslavia, Czechoslovakia. authors find evidence a very strong home bias around time disintegration, with exceeding normal intensity 24‐fold (for Slovenia Croatia) 43‐fold (the Union Czechoslovakia). Disintegration was followed by sharp fall intensity, although legacy common past remains strong. By 1998,...

Abstract The authors estimate gravity models using a large panel of bilateral trade flows across 61 countries between 1980 and 2003, which are applied as benchmark for the integration Central South Eastern European with euro area. They show that careful examination fixed effects model is crucial proper interpretation results. results suggest most new EU member states area already relatively advanced, while remaining have significant scope to strengthen links

Cultural factors and common languages are well-known determinants of trade. By contrast, the knowledge foreign was not explored in literature so far. We combine traditional gravity models with data on fluency main used EU candidate countries. show that widespread is an important determinant for trade, English playing especially role. The robustness our results confirmed by quantile regressions.

This paper analyses the rapid trade integration of Central and Eastern European countries (CEEC's) with euro area in past ten years draws implications for further integration. We use as benchmark an enhanced gravity model estimated a large sample bilateral flows across 61 since 1980. show that careful examination model's fixed effects is crucial proper interpretation results: simply extracting predicted values regression ("in-sample") - commonly done literature leads to distorted results it...

Abstract We show that countries characterized by large bilateral trade and financial flows tend to have more correlated business cycles. However, we also find with divergent fiscal policies highly regulated labour markets are subject idiosyncratic Applying these results the new member states of EU weakens optimistic view towards monetary integration into euro area, which is frequently found in literature. Although our suggest extensive linkages likely result further increases cycle...

This paper tests an endogeneity hypothesis of optimum currency area (OCA) criteria (Frankel and Rose, 1998) on a cross-section OECD countries between 1990 1999. The findings indicate that convergence business cycles relates to intra-industry trade, but has no direct relation bilateral trade intensity. As far as is positively correlated with intensities, this result confirms the OCA hypothesis. linkage implies extensive cycle harmonization CEECs EU in medium term.

This paper reviews price dynamics in the Central and Eastern European accession countries between 1990 2001. The starts with an analysis of short-term long-term (dis)inflation developments. is complemented by appraisal level convergence. major driving forces formation are found to be related liberalization during transition a market economy, prospective EU accession, catching-up process (Balassa-Samuelson effect). Finally, draws conclusions about future monetary exchange rate policy options...

Abstract A panel dataset for six Central and Eastern European countries (Czech Republic, Hungary, Poland, Romania, Slovakia Slovenia) is used to estimate the monetary exchange rate model with cointegration methods, including Pooled Mean Group estimator, Fully Modified Least Square estimator Dynamic estimator. The able convincingly explain long‐run relationships of a group CEECs, particularly when this supplemented by Balassa–Samuelson effect. Our estimated equations are compute equilibrium...

Integration of banking markets can happen through either cross-border lending or mergers. In the policy debate in Europe, more emphasize is put on We study impact crossborder financing conditions firms at German-Austrian border. use ifo business climate survey data, that reports perception German banks willingness to lend for period 2003 – 2006. Our results show distance also matters and SMEs benefit most from lending. Somewhat paradoxically, difference supervision may have speeded up