教師資料查詢 | 類別: 期刊論文 | 教師: 林佩蒨 Pei-chien Lin (瀏覽個人網頁)

標題:Assessing the Growth Effect of Common Currency Adoption: Synthetic Control Approach
學年106
學期1
出版(發表)日期2017/11/14
作品名稱Assessing the Growth Effect of Common Currency Adoption: Synthetic Control Approach
作品名稱(其他語言)
著者Pei-Chien Lin and Ling-Yu Chen
單位
出版者
著錄名稱、卷期、頁數Journal of Finance and Economics, 2017, Vol. 5, No. 6, 269-280
摘要This study empirically assesses the growth effect of adopting the euro by applying a recently developed econometric technique, the synthetic control method (SCM), to implement data-driven comparative case studies for the euro zone. For analytical purposes, we classify the 12 euro-adopting countries into two country groups: core and peripheral countries. The results from the SCM algorithm show that the patterns of per capita GDP in the core (peripheral) countries are generally lower (higher) than those of their counterfactual units. However, the outcomes of the placebo tests indicate that these differences are statistically insignificant, thus implying that the introduction of the euro system neither improves nor impairs the economic growth of these two groups of countries that adopted the euro during 1991-2013. As for the three European Union countries that did not adopt the euro, the results of the inverse SCM analysis show that Denmark would be better off if it had adopted the euro. However, in the cases of Sweden and the United Kingdom, not adopting the euro system may have been a better choice, especially following the sovereign debt crisis.
關鍵字economic growth, synthetic control method, euro, euro zone
語言英文(美國)
ISSNISSN (Online): 2328-7276
期刊性質國外
收錄於
產學合作
通訊作者
審稿制度
國別加拿大
公開徵稿
出版型式,電子版
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