ND Expert: Eurozone downgrade will have small impact | News | Notre Dame News | University of Notre Dame Skip To Content Skip To Navigation Skip To Search University of Notre Dame Notre Dame News Experts ND in the News Subscribe About Us Home Contact Search Menu Home › News › ND Expert: Eurozone downgrade will have small impact ND Expert: Eurozone downgrade will have small impact Published: January 17, 2012 Author: Shannon Roddel and Carol Elliott On Friday (Jan. 13) the Standard & Poor’s Rating Services downgraded the triple-A ratings of nine European countries over concern of the Eurozone’s ability to handle its continuing debt crisis. But University of Notre Dame Finance Professor Jeffrey H. Bergstrand doesn’t expect the move will have a big impact on the financial markets. “The S&P credit downgrades of the nine eurozone countries will have a small, and varied, impact on interest rates among the nine countries," says Bergstrand, one of the world’s top experts in international trade and the international economy. "Many of the anticipated downgrades – such as France, Italy and Spain – will have little net impact this week on interest rates in markets of these countries, because most of this information was anticipated. Some of the lesser anticipated cuts will have larger impacts on their interest rates. “The varying increases in interest rates among Eurozone members during 2011 implies that some countries will escape recession in 2012, but some will likely have a recession – or are already in one. The prospects for growth in the Eurozone overall in 2012 are quite muted.” Bergstrand has been a finance professor in the Mendoza College of Business for more than 25 years, as well as a fellow of Notre Dame’s Kellogg Institute for International Studies, and a research associate of CESifo, an international network of researchers based in Europe. His research on international trade flows, free trade agreements, foreign direct investment, multinational firms, and exchange rates has been published in more than 50 articles in such journals as the American Economic Review and as chapters in books. Bergstrand also served as Co-Editor of the Review of International Economics from 1996-2003 and remains on its editorial board. He has been a visiting scholar at the European Commission in Brussels, the IFO Institute/University of Munich, ETH University in Zurich, and several other institutions. Bergstrand’s current research focuses on economic determinants of multinational firm behavior and foreign direct investment and on the causes and consequences of the growth of regional economic integration agreements. He has also advised the European Commission on the effects of EU-U.S. nontariff barriers and of EU free trade agreements on their trade flows. Media Advisory: Bergstrand’s comments may be used in whole or in part. He is available for interviews and can be reached at 574-631-6761 or Bergstrand.1@nd.edu Posted In: International Home Experts ND in the News Subscribe About Us Related September 30, 2022 Nanovic Institute to welcome former President of Croatia Kolinda Grabar-Kitarović September 29, 2022 Notre Dame, Ukrainian Catholic University launch three new research grants September 27, 2022 Notre Dame, Trinity College Dublin engineers join to advance novel treatment for cystic fibrosis September 14, 2022 Apostolic nuncio to Great Britain to deliver the 2022 Keeley Vatican Lecture September 12, 2022 Can you tell me how to get to Sesame Street … in different countries? For the Media Contact Office of Public Affairs and Communications Notre Dame News 500 Grace Hall Notre Dame, IN 46556 USA Facebook Twitter Instagram YouTube Pinterest © 2022 University of Notre Dame Search Mobile App News Events Visit Accessibility Facebook Twitter Instagram YouTube LinkedIn