REGIONAL CHARACTERISTICS ABOUT HOUSEHOLD FINANCIAL ASSETS: TRANSITION PROCESS AND EFFECT OF ECONOMIC INEGRATION BY THE EURO
Journal Title: European Journal of Business and Social Sciences - Year 2015, Vol 4, Issue 1
Abstract
Based on the information of household financial assets in OECD countries, we investigate the transition process and the effect of economic integration by the introduction of the euro. The research in the paper effectively uses some methods of multivariate analysis. The analysis result indicates that the introduction of the euro tends to induce a regional disparity with the property of “bipolarization†and a typical pattern of regional gap expansion. In addition, such distortion would become large and spread out gradually in the near future. With several exceptions, there exist the opposite effects in the causal relationship between most country groups and the other specific countries. As the specifically categorized three groups, the Eurozone countries obviously have an opposite effect to the non-Eurozone and non-EU countries from a viewpoint of causal relationship. In particular, the recent decreasing trend of that effect suggests the progress of an assimilation phenomenon in those areas. JEL Classifications: F36, F37, G11, R11, R13
Authors and Affiliations
Tsunetada Hirobe| Professor, Department of Economics, Meikai University, 1 Akemi, Urayasu, Chiba 279-8550, Japan e-mail: tsune@meikai.ac.jp, Tel: +81 473555120
Keywords
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