Eurozone Equity Market Diversification： Is It Still Worth？

The paper aims at verifying if there still are advantages in diversification inside the Eurozone despite the economic and monetary unification process. The results show unambiguously that notwithstanding the high degree of correlation between the Eurozone stock markets, opportunities for diversification still exist. The introduction of constraints on short selling significantly reduces these benefits. Investors from the European leading countries would have greatly benefitted from a Eurozone portfolio diversification strategy. The advantages of diversification appear to change significantly over time and from country to country. The results are also conclusive in reflecting the instability of the historical mean-variance data.

Macroeconomic Asymmetries in the Eurozone Countries in the Time of Financial Crisis

This paper seeks to highlight the macroeconomic asymmetries and social impacts among eurozone countries which occurred during the time of the financial crisis,emphasising the urgent need to revise the framework of economic governance.The analysis focuses on the growing macroeconomic and social imbalances on a representative sample of selected eurozone member-states(Euro(€)North and Euro(€)South)which had posed a threat to economic sustainability and social coherence.

Insurance market density and economic growth in Eurozone countries:the granger causality approach

Background:This study examines the relationship between insurance market density(IMD)and economic growth.Methods:We employed Granger causality technique in 19 Eurozone countries for the period 1980-2014.We use three different indicators of IMD,namely life insurance density,non-life insurance density,and total insurance density.We particularly emphasize on whether Granger causality runs between IMD and economic growth both ways,one way,or not at all.Results:Our empirical result recognizes the presence of both unidirectional and bidirectional causality between insurance market density and economic growth.However,these results are mostly non-uniform across Eurozone countries.Conclusions:This study holds important policy implications-economic policies should recognize the differences in the insurance market density and economic growth in order to maintain sustainable economic growth in the Eurozone.

Caught Up in the Eurozone Crisis？ The Case of Australia and China

As the Eurozone celebrated its decade of existence in 2011, few could have predicted that the ever-deepening financial crisis would emerge. The fear with the Eurozone crisis is that with major bail outs projected and government austerity expects to affect the economy in negative terms, the economies in the Portugal, Italy, Ireland, Greece, and Spain （PIIGS） states will decline and consumption will decrease. Being the largest trading partner of European Union （EU）, China＇s export is therefore anticipated to decline. In lesser ways, the Australian economy was also expected to feel some economic pain. The aim of this paper is to ascertain what level of economic impact the Eurozone crisis would have on both China and Australia, given that few nations in the world can aspire to remain unaffected.

The Eurozone： North and South 1999-2010 Some Thoughts About the Long Term Dynamic Forces in the EMU

Do Eurozone＇s countries converge or diverge over time？ In this paper, the issue of the Eurozone cohesion is analyzed, with emphasis on the North-South axis. The dynamics of 10 economic variables covered the general performance （GDP, consumption）, price environment （prices and interest rates）, both public and private financial variables and competitiveness （real effective exchange rates, unit labor costs etc.）. The complex analysis of the data indicates that whereas in the most of analyzed variables neither convergence nor divergence can be identified, in the all important competitiveness area the long term divergence between the North and the South of the Eurozone is undeniable. Unless addressed, this dynamics may constitute significant, and perhaps ultimate, threats to the Eurozone cohesion and perhaps to its existence.