European Parliament Library

European Financial Linkages :, A New Look At Imbalances

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-à-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
Table Of Contents
Cover Page; Title Page; Copyright Page; I. Introduction; II. Related Literature; III. Methodology; A. Main Principles; B. Gaps and Discrepancies; IV. Stylized Facts; A.External financial integration of the EU and the EA is high.; B.However, internal financial integration among EU and EA countries is large as well.; Total Internal Assets and Liabilities; C.While European countries EU and Euro Area IIPs broadly reflect their global IIPs,there are some marked differences.; Table 1. Net Investment Positions and GDP per Capita, 2008
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (96 p.)
Specific Material Designation
Form Of Item

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