Financial Integration or Disintegration during the Financial Crisis

Otilia-Roxana Oprea
JEL codes: 
F36 - Financial Aspects of Economic Integration, G01 - Financial Crises.
Both the causes and effects of the disintegration of the European Union, as well as the possible connections between the process of integration and disintegration were vaguely addressed in the specialized literature up to the present day. Often the crises were evaluated as catalysts for subsequent phases of the EU integration stages, without focusing on the possible impact disintegrator. The aim of this study is to show the impact of the financial crisis on the financial integration process, specifically to see if, during the crisis, financial integration had or not disintegrative tendencies. I chose this goal because the phenomenon of financial disintegration and the link between this phenomenon and the financial crisis have been treated so far in studies of literature, but more in news articles exposing the opinions of specialists. For our analysis, we retrieved data from the Eurostat for the period between 2000 and 2014, including the EU 28 member states.
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