Financial Integration into EU: The Romanian Case
The aim of this study is to investigate the determinants of integration between stock market of Romania and other stock markets of European Union (EU) countries. Correlations between the stock returns represent the level of integration between the stock markets. Empirical analysis are performed with...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Editura ASE
2016-05-01
|
| Series: | Amfiteatru Economic |
| Subjects: | |
| Online Access: | http://www.amfiteatrueconomic.ro/ArticolEN.aspx?CodArticol=2510 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1850245621257076736 |
|---|---|
| author | Ibrahim Bozkurt Engin Akman |
| author_facet | Ibrahim Bozkurt Engin Akman |
| author_sort | Ibrahim Bozkurt |
| collection | DOAJ |
| description | The aim of this study is to investigate the determinants of integration between stock market of Romania and other stock markets of European Union (EU) countries. Correlations between the stock returns represent the level of integration between the stock markets. Empirical analysis are performed with daily stock returns of 24 EU members including Romania for 2002-2012 period using panel data gravity models and correlations are investigated. Findings reveal that the following factors have significant and robust effects on the financial integration process of Romania with other 23 EU members; (i) EU membership, (ii) bilateral trade, (iii) GDP per capita, (iv) 2012 sovereign debt crisis and (v) East European location. The results emphasize that intensifying economic relations with EU members can contribute the integration of Romanian stock market with other EU members.
designed & hoste |
| format | Article |
| id | doaj-art-0211a92d66b34a2495fed532e1eb62c1 |
| institution | OA Journals |
| issn | 1582-9146 2247-9104 |
| language | English |
| publishDate | 2016-05-01 |
| publisher | Editura ASE |
| record_format | Article |
| series | Amfiteatru Economic |
| spelling | doaj-art-0211a92d66b34a2495fed532e1eb62c12025-08-20T01:59:26ZengEditura ASEAmfiteatru Economic1582-91462247-91042016-05-011842269285Financial Integration into EU: The Romanian CaseIbrahim Bozkurt 0Engin Akman1Cankiri Karatekin University, TurkeyCankiri Karatekin University, TurkeyThe aim of this study is to investigate the determinants of integration between stock market of Romania and other stock markets of European Union (EU) countries. Correlations between the stock returns represent the level of integration between the stock markets. Empirical analysis are performed with daily stock returns of 24 EU members including Romania for 2002-2012 period using panel data gravity models and correlations are investigated. Findings reveal that the following factors have significant and robust effects on the financial integration process of Romania with other 23 EU members; (i) EU membership, (ii) bilateral trade, (iii) GDP per capita, (iv) 2012 sovereign debt crisis and (v) East European location. The results emphasize that intensifying economic relations with EU members can contribute the integration of Romanian stock market with other EU members. designed & hostehttp://www.amfiteatrueconomic.ro/ArticolEN.aspx?CodArticol=2510financial integrationEuropean UnionRomaniagravity modelstock markets |
| spellingShingle | Ibrahim Bozkurt Engin Akman Financial Integration into EU: The Romanian Case Amfiteatru Economic financial integration European Union Romania gravity model stock markets |
| title | Financial Integration into EU: The Romanian Case |
| title_full | Financial Integration into EU: The Romanian Case |
| title_fullStr | Financial Integration into EU: The Romanian Case |
| title_full_unstemmed | Financial Integration into EU: The Romanian Case |
| title_short | Financial Integration into EU: The Romanian Case |
| title_sort | financial integration into eu the romanian case |
| topic | financial integration European Union Romania gravity model stock markets |
| url | http://www.amfiteatrueconomic.ro/ArticolEN.aspx?CodArticol=2510 |
| work_keys_str_mv | AT ibrahimbozkurt financialintegrationintoeutheromaniancase AT enginakman financialintegrationintoeutheromaniancase |