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| Tekijä: | Vieira, I. |
| Otsikko: | Evaluating capital mobility in the EU: a new approach using swaps data |
| Lehti: | European Journal of Finance
2003 : OCT, VOL. 9:5, p. 514-532 |
| Asiasana: | Capital markets Financial intermediaries Swaps European Union |
| Vapaa asiasana: | Capital mobility Capital interest parity |
| Kieli: | eng |
| Tiivistelmä: | The level of capital mobility prevailing within a group of core European Union countries is evaluated by means of cointegration -based tests of the vovered interest parity. The stdy concentrates on long maturities, investigating three to ten-year assets, and employing swap rates as a means of covering foreign exchange risk. Although CIP has not been previously assessed for EU long-term interest rates, such evaluation has practical interest. The analysis suggests that long-term financial flows appear to be completely unresttrained only between domestic Dutch and German markets. |
SCIMA