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EU Membership in Times of Economic Turmoil : To what degree did EU and EMU memberships protect trade during the financial crisis of 2008?

Authors
  • Lagringe, Frida
  • Östring, Iisa
Publication Date
Jan 01, 2018
Source
DiVA - Academic Archive On-line
Keywords
Language
English
License
Green
External links

Abstract

This thesis examines whether EU and EMU memberships appeared to protect the member countries’ trade, measured in exports, during the 2008 global financial crisis. The panel data analysis is based on a country sample of 40 OECD and EU countries during the period from 2000 to 2016. By employing a pooled Ordinary Least Squared (OLS) regression and an augmented gravity model, we investigate how the EU and EMU countries’ trade was impacted in comparison to the average of the OECD countries’ trade during the crisis. The results indicate that being a member of the EU or the currency union did not pose additional protection, as the member countries’ trade seemed to be more negatively impacted by the crisis than the average trade in the OECD countries.

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