| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4502 |
| DP4502 Bigger and Better: A Dynamic Regulatory Mechanism for Optimum Quality | |
| Gianni De Fraja | |
| 发表日期 | 2004-08-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | Existing evidence shows that the Economic and Monetary Union (EMU) has reduced the cost of capital for firms in the euro area. We study the impact of the adoption of the euro in January 1999 by 11 countries in Europe on the firms? investment rates, and show that the investment results are consistent with reduction in cost of capital. Using corporate data from the 11 EMU countries, as well as from a control sample of 5 non-EMU, European countries, our paper shows that: (i) investments for EMU-firms have grown 2.5% more than for non-EMU firms, after 1999; and (ii) the benefits of the euro accrue especially to small, domestic firms from countries with previously weak currencies. |
| 主题 | Financial Economics ; International Macroeconomics |
| 关键词 | Economic and monetary union (emu) The euro Investments Cost of capital Currency union |
| URL | https://cepr.org/publications/dp4502 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533454 |
| 推荐引用方式 GB/T 7714 | Gianni De Fraja. DP4502 Bigger and Better: A Dynamic Regulatory Mechanism for Optimum Quality. 2004. |
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