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Country size and the trade effects of the euro
[journal article]
Abstract This paper investigates whether small countries gain relatively more than large countries from an 'expansion' of their market through the creation of a single currency. The introduction of the euro offers a particularly valuable source to test this hypothesis, which we motivate using the theoretical... view more
This paper investigates whether small countries gain relatively more than large countries from an 'expansion' of their market through the creation of a single currency. The introduction of the euro offers a particularly valuable source to test this hypothesis, which we motivate using the theoretical model by Casella of the year 1996. Our results from a panel data analysis, using both aggregate and disaggregated trade data, point to a statistically significant but quantitatively moderate small country bonus. On average, the euro has led to an improvement of the small euro area’s relative export performance by 3–9%.... view less
Keywords
Euro
Classification
Economic Sectors
Political Economy
Free Keywords
Country size; Trade; C33; F12; F15
Document language
English
Publication Year
2009
Page/Pages
p. 207-223
Journal
Review of World Economics, 145 (2009) 2
DOI
https://doi.org/10.1007/s10290-009-0013-6
Status
Postprint; peer reviewed
Licence
PEER Licence Agreement (applicable only to documents from PEER project)