Economic Relations with Regions Neighbouring the Euro Area in the Euro Time Zone

69 Pages Posted: 27 Jul 2005

See all articles by Francesco Mazzaferro

Francesco Mazzaferro

European Central Bank (ECB)

Arnaud Mehl

European Central Bank (ECB)

Michael Sturm

European Central Bank

Christian Thimann

AXA Group

Adalbert Winkler

Frankfurt School of Finance & Management gemeinnützige GmbH

Date Written: December 2002

Abstract

This paper reviews the economic, monetary and financial relations between the EU and the euro area and a set of countries in a broad set of neighbouring regions. The 80 or so countries are mostly classified as transition, emerging or developing economies and belong to four main regions: the Western Balkans; the European part of the Commonwealth of Independent States; the Middle East and Northern Africa; and Sub-Saharan Africa. In many respects, these countries are diverse; however, some common features can also be identified. One of these common features is the fact that the euro area is their largest trading partner and the largest originator of international bank credit, foreign direct investment and official development assistance; meanwhile, from a euro area perspective, while these countries account for a somewhat smaller share of external trade, they are important as providers of energy, other raw materials and agricultural products.

Suggested Citation

Mazzaferro, Francesco and Mehl, Arnaud and Sturm, Michael and Thimann, Christian and Winkler, Adalbert, Economic Relations with Regions Neighbouring the Euro Area in the Euro Time Zone (December 2002). ECB Occasional Paper No. 7. Available at SSRN: https://ssrn.com/abstract=748970

Francesco Mazzaferro (Contact Author)

European Central Bank (ECB) ( email )

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

Arnaud Mehl

European Central Bank (ECB) ( email )

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

Michael Sturm

European Central Bank ( email )

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

Christian Thimann

AXA Group ( email )

25 avenue Matignon
Paris, 75008
France

Adalbert Winkler

Frankfurt School of Finance & Management gemeinnützige GmbH ( email )

Sonnemannstraße 9-11
Frankfurt am Main, 60314
Germany

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