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; Ling-Yu Chen
單位
出版者
著錄名稱、卷期、頁數 Journal of Finance and Economics 5(6), p.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 en_US
ISSN ISSN (Online): 2328-7276
期刊性質 國外
收錄於
產學合作
通訊作者
審稿制度 是
國別 CAN
公開徵稿
出版型式 ,電子版
相關連結

機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/112433 )

SDGS 尊嚴就業與經濟發展