Can the Adoption of the Euro in Croatia Reduce the Cost of Borrowing?

Skoči na glavni sadržaj

Privredna kretanja i ekonomska politika, Vol. 27 No. 1 (142), 2018.

Izvorni znanstveni članak

https://doi.org/10.15179/pkiep.27.1.2

Can the Adoption of the Euro in Croatia Reduce the Cost of Borrowing?

Davor Kunovac ; Hrvatska narodna banka
Nina Pavić orcid.org/0000-0003-1733-5213 ; Hrvatska narodna banka

Puni tekst: hrvatski pdf 581 Kb

str. 71-94

preuzimanja: 1.072

APA 6th Edition

Kunovac, D. i Pavić, N. (2018). Can the Adoption of the Euro in Croatia Reduce the Cost of Borrowing?. Privredna kretanja i ekonomska politika, 27 (1 (142)), 71-94. https://doi.org/10.15179/pkiep.27.1.2

MLA 8th Edition

Kunovac, Davor i Nina Pavić. "Can the Adoption of the Euro in Croatia Reduce the Cost of Borrowing?." Privredna kretanja i ekonomska politika, vol. 27, br. 1 (142), 2018, str. 71-94. https://doi.org/10.15179/pkiep.27.1.2. Citirano 16.04.2024.

Chicago 17th Edition

Kunovac, Davor i Nina Pavić. "Can the Adoption of the Euro in Croatia Reduce the Cost of Borrowing?." Privredna kretanja i ekonomska politika 27, br. 1 (142) (2018): 71-94. https://doi.org/10.15179/pkiep.27.1.2

Harvard

Kunovac, D., i Pavić, N. (2018). 'Can the Adoption of the Euro in Croatia Reduce the Cost of Borrowing?', Privredna kretanja i ekonomska politika, 27(1 (142)), str. 71-94. https://doi.org/10.15179/pkiep.27.1.2

Vancouver

Kunovac D, Pavić N. Can the Adoption of the Euro in Croatia Reduce the Cost of Borrowing?. Privredna kretanja i ekonomska politika [Internet]. 2018 [pristupljeno 16.04.2024.];27(1 (142)):71-94. https://doi.org/10.15179/pkiep.27.1.2

IEEE

D. Kunovac i N. Pavić, "Can the Adoption of the Euro in Croatia Reduce the Cost of Borrowing?", Privredna kretanja i ekonomska politika, vol.27, br. 1 (142), str. 71-94, 2018. [Online]. https://doi.org/10.15179/pkiep.27.1.2

Sažetak

The paper analyzes the impact of euro adoption on the reduction of borrowing costs of EU member states. The results of the analysis point to the existence of a “euro premium” – after controlling for the dynamics in the macroeconomic fundamentals of particular countries and the market sentiment, member states of the monetary union have, on average, lower borrowing costs and higher credit ratings than other EU member states. In order to draw attention to the significance that the results could have for bank interest rates in Croatia in the event of euro adoption, a simple VAR model is used to demonstrate that there is a statistically significant transmission of the changes in government borrowing costs to interest rates on bank loans.

Ključne riječi

euro; borrowing costs; CDS spread; credit rating; Croatia

Hrčak ID:

208244

URI

https://hrcak.srce.hr/208244

Datum izdavanja:

14.11.2018.

Podaci na drugim jezicima: hrvatski

Posjeta: 2.619 *