6533b7cffe1ef96bd1258dac

RESEARCH PRODUCT

Did the European exchange-rate mechanism contribute to the integration of peripheral countries?

José Antonio Martínez-serranoRafael Llorca-viveroSalvador Gil-pareja

subject

Economics and EconometricsExchange ratebusiness.industryEconomicsmedia_common.cataloged_instanceInternational economicsInternational tradeEuropean unionbusinessFinanceMechanism (sociology)media_common

description

Abstract This paper analyses the effect on trade of the exchange-rate mechanism I by member country. We find that it has contributed to a deeper integration of those peripheral countries that participated in the mechanism for at least several years, providing a lesson for the ten new European Union members.

https://doi.org/10.1016/j.econlet.2006.11.001