Valutors betydelse för internationell handel under tider av kris
Sammanfattning: This paper aims to analyze trade dynamics in the EU-area following the financial crisis of 2007/2008. Our goal has been to investigate whether there is any difference between eu-romember countries and non-euromember countries when it comes to trade in the aftermath of the crisis. Using a gravity model and bilateral trading data with over 44 000 observations during the years of 2004-2016, we find that EU-countries who were also euromembers during the crisis have done better than EU-countries with a sovereign currency. This has been shown by the use of interaction variables which were positively significant in all performed regressions. The conclusion of the paper is that the positive effect of the euro compensates for the negative effect of crisis, and that it seems to be favourable to belong to a large currency not only during periods of economic stability but also during periods of crisis.
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