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How Important is the European Economic and Monetary Union in the Foreign Trade with the EU-27... PDF Print E-mail

Authors: Almudena Martinez-Campillo, Mª del Pilar Sierra-Fernández


This paper analyzes the effect of the European Economic and Monetary Union on export flows from a Spanish region (Castilla y León) to the EU-27 countries during the last years Applying static panel data estimation technique, this study finds that exporter and importer incomes, exporter population, distance, and a common land border are the main explanatory factors of exports from this Spanish region. Moreover, the EU membership of the importer country only caused positive and significant effects between 1994 and 1996, whereas the EMU membership reduced export flows from Castilla y León to the European countries during the whole period.

Keywords: European Economic and Monetary Union, Exports, Panel Data Analysis

JEL classification: F13, F14, F15


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