[fre] Cet article étudie l’impact sur l’Europe des principaux chocs externes des années 2000, tels que l’augmentation du prix du pétrole, la baisse du taux directeur américain, les bulles boursières aux États-Unis et l’accumulation de déséquilibres mondiaux. Nous estimons un...

Purpose – This article aims to provide insight into the future of financial markets and regulation in order to define what would be the best strategy for Europe. Design/methodology/approach – First the authors define the potential changes in financial markets and then the tools available for...

In this paper we study the long-run determinants of current account balances in 21 OECD countries. We define long-run targets to determine whether actual current account balances are in line with their equilibrium values and find that, following the crisis, the United States, Japan and Spain...

With the recent tensions within the euro area, the Swiss franc appreciated sharply against the euro, playing the role of international safe-haven currency. Although Switzerland is not a member of the European Union (EU), its high degree of de facto integration to it make that such appreciation...

Since the financial crisis of 1997-1998, East Asian countries have developed many initiatives for monetary and financial cooperation. The global crisis that began in 2007 has further accelerated the process of cooperation. The Multilateralization of the Chiang Mai Initiative in...

This paper aims to study the Central and Eastern European Countries' (CEECs) dynamics of financial integration in the euro area with the prospect of their integration into the European Monetary Union. Our empirical analysis is based, successively, on a MGARCH model with time-varying...

The aim of this paper is to investigate the degree of financial integration for selected East Asian countries from 1988 to 2006 using the recently developed panel unit root and panel cointegration techniques. Investment and savings rates are found to be nonstationary and not to be cointegrated...