Prague Economic Papers 2016, 25(4):427-444 | DOI: 10.18267/j.pep.568
Euro Adoption and Export: A Case Study of the Czech Republic, Slovakia and Old EU Member States
- Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Prague, Czech Republic
The present paper is focussed on the impact of introducing the common European currency on export performance. Our objective is to explore the impact of introducing the common European currency on the export performance of Slovakia in comparison to the Czech Republic and the old EU member states. Our findings suggest that the export performance and other export-related indicators evolved largely in parallel in both countries. Positive trade effects brought about by the introduction of the euro are rather moderate - up to 5%. The results to some extent do confirm the existence of the so called "Rose effect" - the effect that two countries sharing the same currency trade more than they would otherwise.
Klíčová slova: Slovakia, export, euro adoption, Czech Republic, competitiveness
JEL classification: F14, F15
Zveřejněno: 1. leden 2016 Zobrazit citaci
Reference
- Alesina, A. F., Barro, R. J., Tenreyro, S. (2002), "Optimal Currency Areas." Harvard Institute Research Working Paper No. 1958. Available at SSRN: http://ssrn.com/abstract=319761, http://dx.doi.org/10.2139/ssrn.319761
Přejít k původnímu zdroji...
- Anderson, J. E. (2011), "The Gravity Model." Annual Review of Economics, Vol. 3, No. 1, pp. 133-160. Available at: https://www2.bc.edu/~anderson/GravityModel.pdf
Přejít k původnímu zdroji...
- Anderson, J. E., Van Wincoop, E. (2001), "Gravity with Gravitas: A Solution to the Border Puzzle." NBER Working Paper Series No. w8079. Available at SSRN: http://ssrn.com/abstract=256086
Přejít k původnímu zdroji...
- Baldwin, R. E., et al. (2008), "Study on the Impact of the Euro on Trade and Foreign Direct Investment." European Economic and Monetary Union Working Paper No. 321. Available at SSRN: http://ssrn.com/abstract=1163774
Přejít k původnímu zdroji...
- Bellak, C., et al. (2008), "Labour Costs and FDI Flows into Central and Eastern European Countries: A Survey of the Literature and Empirical Evidence." Structural Change and Economic Dynamics, Vol. 19, No. 1, pp. 17-37. Available at: http://www.sciencedirect.com/science/article/B6VFN-4NBBYNG-2/2/f4319cefcd98073a95ff2278bb30fc4b
Přejít k původnímu zdroji...
- Berger, H., Nitsch, V. (2005), "Zooming out: The Trade Effect of the Euro in Historical Perspective." CESifo Working Paper Series 1435, CESifo Group Munich. Available at: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-CESifo_Working_Papers/wp-cesifo-2005/wp-cesifo-2005-03/cesifo1_wp1435.pdf
- Cieślik, A., et al. (2012), "Consequences of the Euro Adoption by Central and Eastern European (CEE) Countries for their Trade Flows." National Bank of Poland Working Paper No. 118, Warsaw. Available at: http://www.nbp.pl/publikacje/materialy_i_studia/118_en.pdf
Přejít k původnímu zdroji...
- Dědek, O. (1996), The Break-up of Czechoslovakia: An In-Depth Economic Analysis. Aldershot, England: Avebury.
- European Commission (2012), Scoreboard for the Surveillance of Macroeconomic Imbalances. Occasional Papers 92, Brussels: European Commission. Available at: http://ec.europa.eu/economy_finance/publications/occasional_paper/2012/pdf/ocp92_en.pdf
- Fidrmuc, J., et al. (2013), "Slovakia: A Catching up Euro Area Member in and out of the Crisis." OECD Economics Department Working Paper No. 1019, OECD Publishing. Available at: http://dx.doi.org/10.1787/5k4c9ktpf47g-en
Přejít k původnímu zdroji...
- Flam, H., Nordström, H. (2007), The Euro and Single Market Impact on Trade and FDI. Institute for International Economic Studies, Stockholm University. Available at http://people.su.se/~flam/EuroeffectsontradeandFDI.pdf
- Havránek, T. (2010), "Rose Effect and the Euro: Is the Magic Gone?" Review of World Economics, Vol. 146, No. 2, pp. 241-261. Available at SSRN: http://ssrn.com/abstract=1502145, http://dx.doi.org/10.1007/s10290010-0050-1
Přejít k původnímu zdroji...
- IMF (2012), Slovak Republic: 2012. Article IV Consultation-Staff Report, Washington: International Monetary Fund. Available at www.imf.org/external/pubs/ft/scr/2012/cr12178.pdf
- Jevčák, A. (2011), "Did Nominal Exchange Rate Flexibility Matter during the Global Recession?" A Czech and Slovak Case Study. ECFIN Economic Brief, No. 14. Available at: http://ec.europa.eu/economy_finance/publications/economic_briefs/2011/pdf/ecobrief_14_may2011_en.pdf
- Lalinský, T. (2010), "Business Competitiveness after Euro Adoption in Slovakia." NBS Occasional Paper No. 3/2010, Bratislava: National Bank of Slovakia. Available at: http://www.nbs.sk/_img/Documents/PUBLIK/OP_03_2010_Lalinský-Business_competitiveness_after_euro_adoption.pdf
- Matei, D. V. (2007), "FDI Location Determinants in Central and Eastern European Countries." Master Thesis in Economics. Faculdade de Economia. Universidade do Porto. Thesis Supervisor: Prof. Dr. Ana Teresa Tavares Lehmann. Available at http://repositorio-aberto.up.pt/bitstream/10216/7522/2/Master%20Thesis%20Diana%20Matei.pdf
- McKinsey & Co. (2012) The Future of the Euro - An Economic Perspective on the Eurozone Crisis. Germany: McKinsey. Available at: http://www.mckinsey.com/locations/swiss/news_publications/pdf/the_future_of_the_euro_McKinsey_report.pdf
- National Bank of Slovakia (2006), The Effects of Euro Adoption on the Slovak Economy. NBS Research Department. Available at: http://www.nbs.sk/_img/Documents/PUBLIK/06_kol1a.pdf
- Pakko, M. R., Wall, H. J. (2001), "Reconsidering the Trade-Creating Effects of a Currency Union." Review of Federal Reserve Bank of St. Louis, pp. 37-46. Available at: http://ideas.repec.org/a/fip/fedlrv/y2001imayp37-46nv.83no.5.html
Přejít k původnímu zdroji...
- Rose, A. K. (1999), "One Money, One Market: Estimating the Effect of Common Currencies on Trade." NBER Working Paper No. w7432. Available at SSRN: http://ssrn.com/abstract=203156
Přejít k původnímu zdroji...
Tento článek je publikován v režimu tzv. otevřeného přístupu k vědeckým informacím (Open Access), který je distribuován pod licencí Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (CC BY NC ND 4.0), která umožňuje nekomerční distribuci, reprodukci a změny, pokud je původní dílo řádně ocitováno. Není povolena distribuce, reprodukce nebo změna, která není v souladu s podmínkami této licence.