Financial liberalization, growth, productivity and capital accumulation: The case of European integration

Arbeitspapier

In the present contribution, we concentrate on the process of financial liberalization in a specific context of European economic and monetary integration. We implement de facto and de jure measures of financial liberalization and find that formal aspects of financial openness generate a strongly positive impact on economic growth and its sources, productivity growth and capital accumulation. Moreover, there is evidence of a positive contribution to the process stemming from the EU membership, while no substantial effect comes from the euro adoption. Finally, we investigate the effects from financial integration on country groups within the EU.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: cege Discussion Papers ; No. 134

Classification and Topics

• Classification: Wirtschaft ; Open Economy Macroeconomics ; Financial Aspects of Economic Integration ; Economic Growth of Open Economies
• Subject: Financial integration ; economic growth ; productivity ; European integration ; Kapitalmarktregulierung ; Finanzsektor ; Marktintegration ; Europäische Wirtschafts- und Währungsunion ; Wirkungsanalyse ; Wirtschaftswachstum ; Produktivität ; Schätzung ; EU-Staaten

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Gehringer, Agnieszka
• Event: Veröffentlichung
• (who): University of Göttingen, Center for European, Governance and Economic Development Research (cege)
• (where): Göttingen
• (when): 2012

Further information

• Handle: http://hdl.handle.net/10419/70236
• Last update: 10.03.2025, 11:44 AM CET