Camelia TURCU

Accueil Annuaire membres

TURCU
Camelia

Vice-Présidente Recherche - Université d'Orléans

enseignant-chercheurs

Domaine de recherche : Économie Internationale et Développement Durable

Bureau : A207

E-mail : camelia.turcu@univ-orleans.fr

CV : Consulter

Responsabilités

A. Local scientific responsibilities

1. Vice-Présidente de la Commission Recherche, Université d’Orléans, 2025-

2. Director of the International Economics & Sustainable Development (EI2D) team of LEO, 2017-2025

3. Elected member of the CRD (Committee of Discipline Representatives), Section 05, 2013 –

4. Member of the LEO board, 2017-2025

5. Elected member of the LEO Laboratory Council, 2013-2025

6. Elected member of the University Academic Council – Research Commission, University of Orléans, 2016-2017, 2020-2024, 2024-

7. Elected member of the Management board of the Faculty Law, Economics, Business, 2018-2021

8. Member of the « International Relations » Working Group, University of Orléans, 2015-2016

B. National scientific responsibilities

1. Deputy Director of MSH Val de Loire, 2020-2025

2. MSH Val de Loire correspondent at INSHS CNRS, 2020-2025

3. Appointed member of the CNU (National Council of Universities), 2019-2023, 2023-

4. Elected Alternate Member, Managing Board, Cosmetic Valley, 2020-2025

5. Elected Member, Managing Board, URSSAF, 2022-2026

6. Elected Member, Scientific Council, Doctoral School of Normandy (Universities of Caen, Rouen, Le Havre), 2021-

7. Head of the « Models, modeling, simulation » research team, MSH Val de Loire, 2016-2020

8. LEO’s European and international correspondent at INSHS CNRS, 2018-2020

9. Member of hiring committees for Associate Professor positions (28 positions): Universities of Besançon (2025), Tours (2016, 2018, 2020), Orleans (2014 (2 positions), 2015, 2018, 2019, 2022), Poitiers (2014, 2015, 2021), Corsica (2014, 2015), Paris-Est Creteil (2019, 2020 (2 positions), 2022), Strasbourg (2022, 2023, 2025), Dijon (2021, 2022), Rouen (2021 (2 positions)), Metz (2026), Sorbonne Paris Nord (2026). President (or Vice-President) for the Orléans committees in 2018, 2019, 2022.

10. Member Member of hiring and tenure committees for Full Professor and Junior Professor Chair positions (17 positions): Universities of Orleans (2018, 2019, 2023, 2025 (2 positions)), Paris Est Créteil (2018), Bordeaux (2019, 2022, 2025, 2026), Paris 1 Pantheon-Sorbonne (2020), Amiens (2022), Pau (2024), Sorbonne Paris Nord (2024), Versailles St-Quentin-en-Yvelines (2024), AgroParis Tech (2024), Toulouse Capitole (2026). President (or Vice-President) of the Universities of Orléans (2019, 2023) and Bordeaux (2025) committees.

11. Member of the selection committee for lecturer positions (ATER), University of Orléans, 2013-

12. Member of the selection committee for a teaching contract, University of Tours, 2016

13. Member of the selection committee for a PRAG in economics and management, IUT de Chartres, University of Orléans, 2013

C. International scientific responsibilities

1. Elected Member, Scientific Council, Doctoral School of the West University of Timisoara, 2022-

2. Appointed Member of the International Jury for the Aydalot PhD Prize in Regional Science, 2021-

3. Honorary Chair of INFER (International Network For Economic Research), 2020-

4. Associate member of CEFIMO (Center of Financial and Monetary Research), ASE Bucharest, 2014-

5. Chair of INFER (International Network For Economic Research), 2015-2020

INFER is an international non-profit scientific association that aims to stimulate research and the creation of research networks in all fields of the economy, by organizing international conferences and workshops. INFER has more than 250 active members and several institutional members as well as a large circle of more than 1000 economists associated with the network. Website: www.infer-research.net

6. Vice-Chair INFER (International Network for Economic Research), 2013-2015

7. Director of the INFER Workshops Committee and Member of the INFER Publications Committee, 2012-2015

8. Elected member of the INFER Bureau, 2011-2020

9. Head of the INFER Regional Economics and Economic Geography Working Group, 2011-2015

10. Elected member of the Board of Directors of ASRDLF (Association de Science Régionale de Langue Française), 2011-2019

11. Member of hiring or promotion committees : Assistant professors – ISEG Lisbon (Portugal, 2022), Cairo American University (Egypt, 2021); Full professors – Rutgers University (2026)

Encadrement doctoral

A. Current PhD student

1. Nikola Nenovsky « Regional Economic Integration under the Fragmentation of Global Trade and Financial Systems », 2026 – to present. Bulgarian Council for Economic Analysis

2. Salma Barhouni « Métaux critiques et transition énergétique », 2025 – to present (co-supervision with C. Zaki), BRGM PhD Scholarship.

3. Saniya Ali Zayed « Politique commerciale et économie circulaire », 2024 – to present (co-supervision with C. Zaki), PhD Scholarship – ANR, Chair of Environmental and Mineral Resources.

4. Marie Jézéquel-Royer « Évaluation des effets inflationnistes de la transition environnementale et énergétique », 2024 – to present (co-supervision with G. Levieuge and S. Bacouel-Jentjens), PhD Scholarship awarded by Center Val de Loire Region and ISC Paris

5. Bronlin Mbandinga « Green finance and macro-budgetary risks: the case of CEMAC countries », 2023 – to present. IMF Economist

6. Matilda Baret « Energy transition and transformation of economic models », Université d’Orléans, 2022 – to present (co-supervision with Y. Lucotte). Phd Scholarship – ILB CACL Research Initiative « Energy Transition and transformation of economic models »

B. Former PhD students

1. West Togbetse « Politiques économiques et ressources naturelles dans le contexte de la transition énergétique », Université d’Orléans, 2021 – 2026. Labex Voltaire and University of Orléans PhD scholarship. West Togbetse is a Lecturer at the University of Orléans (France).

2. Cristina Strango « Digitalisation of public services and corruption », Université d’Orléans & West University of Timisoara, 2022 – 2025 (co-supervision with M. Mutascu). French Government PhD Scholarship. Cristina Strango is a Lecturer at the EMLV Da Vinci Business School, Paris (France).

3. José Riascos « Natural Resources, Institutions, and Sustainable Development: A Regional Analysis in Latin America », Université d’Orléans, 2021-2024 (co-supervision with G. Levieuge and S. Bacouel-Jentjens). PhD Scholarship awarded by Center Val de Loire Region and ISC Paris. José Riascos is a data analyst at Avidbots Corp (Columbia).

4. Arrouna Keita « Fiscal Policy and Natural Resources: From Discovery to Exports », 2020-2024. Ivory Coast Government PhD Scholarship. Arrouna Keita is a consultant at OECD.

5. Lucien Ahouangbe « Essays in international sustainable development », Université d’Orléans, 2020 – 2024 (co-direction with M. Voia and C. Diridollou). PhD Scholarship awarded by Center Val de Loire Region and ISC Paris. Lucien Ahouangbe is an Associate Professor (Maître de conférences) at the University Marie et Louis Pasteur, Besaçon (France).

6. Pauline Avril « Natural disasters and financial instability », University of Orléans, 2019-2023 (co-supervision with G. Levieuge ). PhD scholarship – Center Val de Loire Region. Pauline Avril is a Policy Analyst at OECD.

7. Vanessa Dovonou « New challenges for the macroeconomic policies: dilemma, trilemma or quatrilemma? », University of Orléans, 2018 – 2023 (co-supervision with C. Badarau). PhD Scholarship – Center Val de Loire Region. Vanessa Dovonou joined the World Bank’s Young Professional Program.

8. Dylan Bourny « Trade, location and environment: a focus on natural resources « , Université d’Orléans, 2017- 2022 (co-supervision with D. Mirza). LABEX Voltaire PhD fellowship. Dylan Bourny is a Junior Trade Policy Analyst at OECD.

9. Kady Keita « Essays on development and international capital mobility », Université d’Orléans, 2017-2021 (co-supervision with I. Rabaud). Ivory Coast Presidency PhD Scholarship. Kady Keita is an Economist at the IMF.

10. Yunzhi Zhang « Three essays in international and environmental economics », University of Orléans, 2016-2019. Chinese Government PhD scholarship. Yunzhi Zhang is a lecturer at the Guangdong University of Foreign Studies (China).

11. Réda Marakbi « Institutional quality, fiscal efficiency and macroeconomic performance. Theory and evidence », University of Orléans, 2015-2018 (co-supervision with P. Villieu). PhD Scholarship – Center Val de Loire Region. Réda Marakbi is an Associate Professor (Maître de conférences) at the University of Artois (France).

Travaux

Publications dans des revues scientifiques
Ouvrages et rapports
Documents de travail et autres publications
Communications

2025

Natural disasters and financial stress: can macroprudential regulation tame green swans?

Pauline Avril, Grégory Levieuge, Camelia Turcu

Résumé non disponible.

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Online social media and populism in Europe

Mihai Mutascu, Cristina Strango, Camelia Turcu

Résumé non disponible.

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2024

UIP deviations in times of uncertainty: Not all countries behave alike

Purva Gole, Erica Perego, Camelia Turcu

In this paper, we reconsider the role of uncertainty in explaining uncovered interest rate parity (UIP) deviations by focusing on 60 emerging and developing (EMDE) and advanced (AE) economies, over the period 1995M1–2023M3. We show that differentiating between EMDE currencies and AE currencies is crucial for understanding UIP deviations as the behaviour of excess returns differs in the two groups in periods of uncertainty: deviations become wider for EMDEs and narrow for AEs. These new results are consistent with the idea that in periods of uncertainty, global investors might change their risk preferences and move from high currency-risk investments in EMDEs towards less risky ones in AEs. This evidence holds for both the short-run and long-run UIP, and becomes stronger since the Global Financial Crisis (GFC).

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Does one good turn deserve another? Evidence from China’s trade and aid policy

Camélia Turcu, Yunzhi Zhang

In this article, we explore the effects of China’s foreign aid on its exports. To do this, we use a sample of 165 countries during the period 2000–2014 and employ a gravity model. We find that the return on Chinese exports for every dollar spent on foreign aid is from $0.156 to $0.4, at the aggregate level. The aid provided in past periods continues to promote China’s exports. We also show, while taking into account aid heterogeneity, that China experiences a higher return in terms of exports when providing development aid intended for infrastructure, to the recipients. Additionally, we find that China’s international aid helps the country to trade more with similar income-level economies. Hence, it can, to a certain extent, foster South-South trade relations.

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Location attributes explaining the entry of firms in creative industries: evidence from France

Josep-Maria Arauzo-Carod, Eva Coll-Martínez, Camelia Turcu

This paper focuses on creative industries and the role played by the existing spatial distribution and agglomeration economies of these activities in relation to their entry decisions. We rely on employment and firm-level data in the creative industries (provided by INSEE) and compare the location of new establishments in the creative and non-creative industries between 2009 and 2013 in French departments (NUTS 3 regions). We use count data models and spatial econometrics to show that location determinants are rather similar in creative and non-creative industries and that specialisation in creative industries positively influences the entry of all other industries. The French case provides new insights to understand the geographical patterns of creative industries.

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2023

How bilateral foreign direct investment influences environmental convergence

Vignawou Lucien Ahouangbe, Camelia Turcu

Abstract This paper analyzes environmental convergence and its determinants. We construct our analysis in a bilateral setting and hypothesize that, through foreign direct investment (FDI), one or more investor countries could impact the environmental performance of their hosts, leading thus to a possible environmental convergence between home and host economies. To do this, we construct an original database on bilateral FDI encompassing 128 countries for the period 2000–2012. Our results suggest that, in general, FDI does not directly impact environmental convergence, except for the case of FDI originating from major investor countries. Under specific conditions, FDI can be expected to influence environmental convergence along with other variables such as GDP per capita, industrial development, geographical proximity, or cultural and historical ties. Overall, these effects may vary depending on the type of partnership considered (North–North, North–South, South–North, and South–South).

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Introduction to INFER special issue on “new aspects of economic and financial integration”

António Afonso, Cristina Badarau, Camélia Turcu

This Special Issue (SI) gathers 13 papers presented at the 23rd INFER Annual Conference which took place in Lisbon, 8–10 September 2021, at ISEG – Lisbon School of Economics and Management. The conference was organised by INFER (International Network for Economic Research), UECE (Research Unit on Complexity and Economics), and REM (Research in Economics and Mathematics). The papers of the SI focus on key topics in international macroeconomics, revisit the fiscal policy conduct within a globalised world, investigate how uncertainty and risk affect macroeconomic policies, and analyse the links between labor market outcomes, automation, and economic integration.

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Recent advances in international macroeconomics, financial development and globalization: Some policy challenges

Inmaculada Martínez-Zarzoso, Francisco Serranito, Camélia Turcu

Résumé non disponible.

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Fiscal outcomes, current account imbalances, and institutions in Europe: Exploring nonlinearities

Kady Keita, Isabelle Rabaud, Camelia Turcu

We analyze the fiscal outcomes associated to the current account imbalances within Europe. We hypothesize that the effects of current account imbalances on fiscal variables within the European Union are nonlinear and that the nonlinearity is modulated by the quality of governance. We use data on 28 European Union countries from 2000 to 2019, apply a Panel Smooth Transition Regression (PSTR) approach and proxy governance by measures of corruption. We find evidence of a nonlinear relationship: the fiscal effects related to current account imbalances are differentiated among European countries. On the one hand, we find a positive elasticity of fiscal balance to current account balance when the quality of institutions is low. This suggests that in countries with high corruption, a deterioration of the current account results in a degradation of fiscal balance and an increase of debt. On the other hand, we find a negative elasticity of fiscal balance to current account balance when the quality of institutions is high. This implies that in countries with low corruption, larger current account imbalances can be related to an improved fiscal balance and a lower debt. Robustness checks comfort our findings.

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The culture-promotion effect of multinationals on trade: the IKEA case

Dylan Bourny, Daniel Mirza, Camelia Turcu

Abstract In this article, we investigate how some MNEs which spread their home culture over time and space to the rest of the world are affecting, in turn, trade flows from home. By selling products embodying cultural information related to their country of origin, those MNEs embrace the role of ambassadors of their home country. We argue that IKEA offers an ideal case to identify a multinational’s culture-promotion effect on trade. We build a dataset on IKEA’s presence in foreign markets between 1995 and 2015 and merge it with disaggregated product level trade between pairs of countries. We find solid evidence of an externality linked to IKEA: a setting of an IKEA new store in a destination increases trade flows by around 2% from Sweden for products that resemble to what the multinational offers (despite being completely unrelated to that multinational). This result is driven primarily by the products identified to encompass a high-cultural content. Other robustness checks and tests seem to be very much consistent with the hypothesis of IKEA promoting the Swedish culture to the world.

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2022

Promoting Counter-Cyclical Fiscal Policy: Fiscal Rules Versus Institutions

Kady Keita, Camelia Turcu

Résumé non disponible.

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Productivity, financial performance, and corporate governance: evidence from Romanian R&D firms

Claudiu Tiberiu Albulescu, Camélia Turcu

Résumé non disponible.

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Policy Challenges for Open Economies

Pedro Cerqueira, Francisco Serranito, Camélia Turcu

Résumé non disponible.

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Policy Challenges for Open Economies

Francisco Serranito, Pedro Cerqueira, Camélia Turcu

Résumé non disponible.

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2021

Monetary, financial and fiscal fragility in 2020s

Makram El-Shagi, Camélia Turcu

Résumé non disponible.

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[Guest Editors’ Remarks] Special Theme 2: Asian and European Economic Integration at a Crossroads

Peter Claeys, Helena Sanz-Morales, Camélia Turcu

Résumé non disponible.

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Développements récents de la science économique

Alexis Direr, Camelia Turcu

Résumé non disponible.

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Institutions' impact on the corruption-growth nexus : nonlinearities and transmission channels

Réda Marakbi, Camélia Turcu, Patrick Villieu

We analyze the channels through which institutional quality can impact the corruption–growth nexus. To do this, we develop an endogenous growth model and test its implications empirically, through panel data models using GMM and PSTR settings. Our sample consists of 136 developed and developing countries analyzed over the period 1984–2015. We show, both theoretically and empirically, that (i) the corruption–growth relation can be subject to nonlinearities highly influenced by countries’ institutional development; and (ii) private investment and public spending are two main channels through which institutional quality affects, positively or negatively, the relation between corruption and economic growth.

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New challenges for fiscal policy in Central and Eastern Europe

Alexandru Minea, Camélia Turcu

Résumé non disponible.

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2020

So alike, yet so different: Comparing fiscal multipliers across EU members and candidates

Nicolae-Bogdan Ianc, Camelia Turcu

Résumé non disponible.

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Introduction: special issue on the environment, resources and pollution – new challenges for economic development

Inma Martínez-Zarzoso, Christian Oberst, Camélia Turcu

Abstract This special issue contains a selection of six articles in the field of environmental and resource economics, which were presented in INFER workshops and supported events over the last two years. The topics include the effects of income inequality and freedom of the press on environmental stringency; the trade-environment nexus in China; the behavior of cross-country growth rates with respect to resource abundance and dependence; a stochastic frontier analysis to show that technological change is biased more towards energy rather than labor; how recycling and environmental taxes can affect the imbalances between the availability of and the demand for rare earth elements; and the interaction between demographic features and environmental constraints in Caribbean small island developing states. The papers include three empirical contributions and three methodological approaches, which help to improve our understanding of these topics.

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Firm Performance and Exports: Evidence from the Romanian Wine Industry

Albert Lessoua, Mihai Mutascu, Camélia Turcu

Abstract This paper examines the impact of exports and its main determinants on the financial performance of the Romanian wine industry. We draw on a dataset consisting of mixed firm-level (i.e., 207 companies) data, Google Trends data, and regional variables covering the period from 2009 to 2017. We show that Romanian wine exports, at the firm level, are positively affected by regional wine yields (especially in the case of red wine varieties), temperature, and firm agglomeration, and negatively impacted by firm size. We also find a close positive correlation between financial performance and exports. (JEL Classifications: F61, L66, C23)

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Economic Sentiments and Money Demand Stability in the CEECs

Valentina-Ioana Mera, Monica Ioana Pop Silaghi, Camélia Turcu

Résumé non disponible.

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2019

New insights into macro-financial stability and welfare

Cristina Badarau, Camélia Turcu

This editorial provides an overview of recent theoretical and empirical contributions to the debate on macro-financial stability and welfare, in the aftermath of the Global Financial Crisis (GFC). It introduces a special issue composed of a selection of articles presented during the 19th Annual Conference of the International Network For Economic Research (INFER). The conference took place at the University of Bordeaux in June 2017. The articles included in this special section discuss the impact of the economic policy on macro-financial stability and welfare, they highlight the importance of the mobility of production factors in a globalized world and analyze the role of institutions in promoting sustainable growth and macroeconomic stability.

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Trade in Fuels and Environmental Regulation: A Two-Sided Story

Thais Nunez-Rocha, Camélia Turcu

In this paper, we show how environmental regulation affects trade in fuels. The regulation is assessed along two dimensions: one tackling the extraction and another one dealing with the use of fuels. Using a gravity model with 141 countries for the period 1998-2015, we show that regulations on the extraction of fuels have no impact on trade compared to those related to the use of these non-renewable resources. Specifically, we find that introducing Energy laws slows down fuels trade at the world level and that if importers get involved in more international environmental treaties, they will import less fuels.

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Recent challenges of the European integration: an introduction

Cândida Ferreira, Camélia Turcu

Résumé non disponible.

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2018

Perspectives on Financial, Monetary, and Economic Developments in Eastern Europe

Pedro Cerqueira, Monica Ioana Pop Silaghi, Andreea Stoian, Camelia Turcu

Résumé non disponible.

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2017

Sovereign debt and systemic risk in the eurozone

Alexandra Popescu, Camélia Turcu

The paper analyzes the eurozone crisis through the lens of a new systemic sovereign risk measure. This measure is built on countries' budgetary constraint and the Marginal Expected Shortfall (MES) estimated through a DCC-Garch model. We use daily data on government bonds yields and quarterly macroeconomic data over the period . Our measure, applied to the sovereign debt crisis of the euro area, captures countries' expected financing requirements in times of crisis. The results underline the most systemically important countries and their contribution to a potential system's default. Specifically, Italy and Greece are highlighted as the most systemically important countries in crisis times.

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Trade and business cycle synchronization in Eurozone: a refresh wavelet approach

Mihai Mutascu, Camelia Turcu

The paper investigates the interaction between the trade and business cycle synchronization, using an extended wavelet approach. The analysis is conducted in several Eurozone countries, for the period 1960Q1-2016Q2. We show that the trade promotes economic synchronization in the considered Eurozone countries, on medium and long terms. The key ingredients are economic integration and monetary union. A reversed connection is also distinguished. On medium and long terms, a low degree of synchronization accelerates trade only if the given country has an ascending growth trend. Several different scenarios are found on short term, for particular economic contexts.

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2016

Introduction: Recent Monetary and Financial Developments in Europe

Alberto Bagnai, Camélia Turcu

Résumé non disponible.

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2014

Compétitivité territoriale et localisation du travail et des entreprises : une introduction

Rémi Bazillier, Isabelle Rabaud, Camélia Turcu

Cet article propose une mise en perspective théorique de la localisation du travail et des entreprises en lien avec la compétitivité des territoires. La localisation est ainsi analysée sous trois angles : en lien avec la mobilité de la main-d’œuvre et ceci dans une approche d’économie géographique ; à travers les choix de localisation des firmes, dans une perspective de commerce international et de localisation des multinationales ; et par rapport au développement et à la concentration des services, des technologies et des connaissances. Ces approches complémentaires nous permettent de dresser une analyse globale des dynamiques de localisation, phénomène qui sera amplement analysé par la suite dans les articles présents dans ce numéro spécial.

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2013

Monetary Regimes and EU Accession: Comparing Bulgaria and Romania

Nikolay Nenovsky, Kiril Tochkov, Camélia Turcu

This paper traces the origins of the different monetary regimes adopted in Bulgaria and Romania in 1996-97 and examines their performance during the EU accession. The findings indicate that the constraints of the currency board in Bulgaria shifted economic activity towards the private sector, while the discretionary policies in Romania turned public finances into both a contributor and a response mechanism to economic imbalances. While the prospects of EU accession initially enhanced the performance of the monetary anchors, the implicit insurance of EU membership increased moral hazard and led to a rapid rise in private and public debt. The paper also explores the historical parallels between the monetary regimes of Bulgaria and Romania in 1996-97 and 1925-1940.

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2009

The Monetary Transmission Mechanisms in the CEECs : A Structural VAR Approach

Cornel Oros, Camélia Turcu

This paper deals with the monetary policy transmission channels of six Central European countries: CEECs - Hungary, Poland, Czech Republic, Romania, Slovakia and Slovenia - over recent periods corresponding to stable monetary regimes. We will take into account three channels - the interest rate, the exchange rate and the domestic credit - whose relative importance will be accounted for using a structural VAR model. The results show that all the countries share a weak domestic credit channel while they are highly heterogeneous with regards to the relative effectiveness of the interest rate and exchange rate channels. Thus, Hungary and Poland's distinctive feature is the presence of a price puzzle effect combined with a high influence of the exchange rate which acts both as a mechanism of monetary policy transmission and as a supply and demand shock absorber. On the contrary, just like in the case of the Euro zone countries, it is the interest rate channel that has the major influence in the case of the Czech Republic, Slovakia, Slovenia and partially Romania. Therefore, this latter group appears to be more apt to join the EMU in the near future, which can be confirmed by the Slovenian case.

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2008

How Does Sector Concentration Evolve at Country and Region Levels ? The European Case

Cornel Oros, Camélia Turcu

This paper analyzes the evolution of the three main economic sectors - agriculture, industry and services - at the level of European countries and regions. We base our analysis on the Theil index constructed using European gross value added data for 23 EU countries and compare it to regional data for a ten-year period (from 1995 to 2004). Our results show that the most difficult challenges posed by the unequal concentration in the main sectors appear at the wider region not the country level. It will therefore be necessary to devise new regional policies that take into account these disparities.

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Aucune publication disponible pour le moment.

2021

Quels nouveaux challenges de politique budgétaire en Europe Centrale et de l’Est ?

Alexandru Minea, Camelia Turcu

Ce symposium est une sélection de quatre articles de recherche présentés à la conférence thématique GEBA-GDR Monnaie-Banque-Finance 2019 organisée par la Faculté d'économie et d'administration des affaires (FEAA) de l'Université "Alexandru Ioan Cuza" de Iasi (Roumanie) et soutenue par l'INFER (Réseau International Pour la Recherche Economique). Le numéro spécial est dédié à l'analyse des politiques budgétaires dans les pays post-communistes d’Europe Centrale et de l'Est pour deux raisons. Tout d'abord, parce’que la politique budgétaire a été (et est toujours) le principal outil de stabilisation après la crise financière de 2008-2009 ; et, aussi, car, par rapport aux autres unions économiques et monétaires, l’Union européenne est un espace économique particulier.

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2013

The Impact of Exchange Rate Regimes on Production Structures Across Countries: the European Case

Christian Aubin, Camélia Turcu

This paper analyzes the impact of exchange rate variability on the economic specialization of European countries. Two theoretical approaches are used: the first one, advanced by Krugman (1991), underlines that the monetary integration is favouring the specialization of countries members of an integrated area while the second one, supported by Ricci (1997), considers that the exchange rate variability is the one that is enhancing countries specialization. In line with these two theoretical dimensions, we conduct empirical estimations on the EU countries (1993-2008) using two different measures of specialization. The results give a mixed picture: the link between specialization and exchange rate regimes is found to be significant but its sign differs according to the sectors desegregation. In order to conciliate these results with the two challenging theoretical settings, we propose an explanation based on the difference between inter-industry and intra-industry specialization.

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2017

Firms location, taxes and environment

Julien Ciucci, Dominique Prunetti, Camélia Turcu

Résumé non disponible.

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Camelia TURCU

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TURCU
Camelia