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Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
Darmstadt Discussion Papers in Economics No. 214
Verlag: 
Technische Universität Darmstadt, Department of Law and Economics, Darmstadt
Zusammenfassung: 
This paper examines the association between trade and financial linkages among European countries. We find that, with the introduction of the euro, trade imbalances among euro area members widened considerably, even after allowing for permanent asymmetries in trade competitiveness within pairs of countries or in the overall trade competitiveness of individual countries. Moreover, there is a significant relationship between patterns of trade and bilateral financial linkages, especially within the euro area; a surplus of a country in a bilateral trade relationship is typically accompanied by a country's positive net financial position vis-à-vis the respective partner country.
Schlagwörter: 
trade balance
international investment position
euro
EMU
European integration
JEL: 
F15
F16
F32
F36
F42
Dokumentart: 
Working Paper

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