European Financial Linkages: A New Look at Imbalances
European Financial Linkages: A New Look at Imbalances
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欧洲金融联系：重新审视失衡
DOI：
10.5089/9781455211760.001
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发表时间：
2010
期刊：
影响因子：
--
通讯作者：
J. De Guzman
中科院分区：
文献类型：
--
作者：
Claire Waysand;Kevin L. Ross;J. De Guzman
我们通过建立一个新的数据库，记录欧洲联盟国家在金融危机开始时的外部投资头寸，该数据库包括双边外部金融资产和负债，不包括储备资产和衍生品。虽然数据中存在一些差距，但报告的双边净国际投资头寸的总体覆盖面似乎令人满意。该数据集提供了更丰富的金融联系图片，使我们能够绘制欧元区失衡的融资。2000年至2008年，债权人和债务人相对于欧盟其他国家的地位趋于上升，资本主要从较富裕的经济体流向追赶经济体。这尤其导致欧元区经济体之间的相互依赖性增加。
We document external investment positions among European Union countries at the start of the financial crisis through the creation of a new database comprising bilateral external financial asset and liabilities, excluding reserve assets and derivatives. While there are some gaps in the data, the overall coverage of reported bilateral net international investment positions (IIPs) appears satisfactory. The dataset provides a richer picture of financial linkages, enabling us to map the financing of Euro area imbalances. Creditor and debtor positions vis-a-vis the rest of the EU have tended to increase between 2000 and 2008, with capital flowing largely from wealthier to catching-up economies. This has in particular resulted in an increased interdependency among Euro Area economies.