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Do European Capital Flows Comove?
2009
Social Science Research Network
We study the cross-section correlations of net, total, and disaggregated capital flows for the major source and recipient European Union countries. We seek evidence of changes in these correlations since the introduction of the euro to understand whether the European Union can be considered a unique entity with regard to its international capital flows. We make use of Ng's (2006) "uniform spacing" methodology to rank cross-section correlations and shed light on potential common factors driving
doi:10.2139/ssrn.1295485
fatcat:g3yl2s6mw5hj3earxypepnkyve