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首页> 外文期刊>The quarterly review of economics and finance >Regional versus global integration of euro-zone retail banking markets: Understanding the recent evidence from price-based integration measures
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Regional versus global integration of euro-zone retail banking markets: Understanding the recent evidence from price-based integration measures

机译：欧元区零售银行市场的区域整合与全球整合：了解基于价格的整合措施的最新证据

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摘要

We investigate the integration of euro-zone retail banking markets by comparing convergence and cointegration measures. As an innovation to the literature convergence measures are exposed to a difference-indifferences methodology which allows both, identifying the impact of the single currency and benchmarking euro zone-specific from global integration effects. We find that euro-zone convergence has largely been a result of integrating wholesale markets after the elimination of exchange rate risks. After 1999 integration is mainly observed for a restricted "convergence club" excluding Germany, Ireland and Belgium. Moreover, convergence is at least partly a global rather than euro zone-specific process.
机译：我们通过比较趋同度和协整度来研究欧元区零售银行市场的整合。作为文献的一项创新，融合措施暴露于差异差异方法，该方法既可以识别单一货币的影响，又可以从全球一体化效应中确定特定于欧元区的基准。我们发现，欧元区趋同主要是消除汇率风险后整合批发市场的结果。 1999年以后，主要观察到一个受限制的“会聚俱乐部”的整合，但德国，爱尔兰和比利时除外。此外，融合至少部分是全球性的过程，而不是欧元区特定的过程。

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