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Testing for Euro Dominance in Central and Eastern Europe: An upgrade of the German Dominance Hypothesis - Couverture souple

Kadow, Alexander

 
9783844317657: Testing for Euro Dominance in Central and Eastern Europe: An upgrade of the German Dominance Hypothesis
Couverture souple
ISBN 10 : 3844317651 ISBN 13 : 9783844317657
Editeur : LAP LAMBERT Academic Publishing, 2011

Synopsis

The Eastern enlargement of the European Union has provided a fresh stimulus to the process of European integration. Ten new member states from Central and Eastern Europe (CEE) will eventually be part of the euro area: Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, the Slovak Republic and Slovenia which already adopted the euro. In contrast to previous studies, this monograph treats all transition economies en bloc. Alluding to the well-established German Dominance Hypothesis, I formulate the Euro Dominance Hypothesis in a vector error correction model. This framework permits a coherent testing for the presence of monetary integration in Europe and its transmission through financial markets. The findings indicate that the European Central Bank (ECB) influences short-term interest rates outside the euro area. However, there are crucial feedback relations across the new member states as well as between the transition economies and the ECB. Monetary integration seems to be particularly driven by the emerging banking sectors in CEE.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Présentation de l'éditeur

The Eastern enlargement of the European Union has provided a fresh stimulus to the process of European integration. Ten new member states from Central and Eastern Europe (CEE) will eventually be part of the euro area: Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, the Slovak Republic and Slovenia which already adopted the euro. In contrast to previous studies, this monograph treats all transition economies en bloc. Alluding to the well-established German Dominance Hypothesis, I formulate the Euro Dominance Hypothesis in a vector error correction model. This framework permits a coherent testing for the presence of monetary integration in Europe and its transmission through financial markets. The findings indicate that the European Central Bank (ECB) influences short-term interest rates outside the euro area. However, there are crucial feedback relations across the new member states as well as between the transition economies and the ECB. Monetary integration seems to be particularly driven by the emerging banking sectors in CEE.

Biographie de l'auteur

Alexander Kadow studied economics at the universities of Mannheim, St. Gallen (HSG) and Maastricht. He obtained his MSc in Financial Economics from Maastricht University and is currently Doctoral Researcher and Teaching Fellow at the University of Glasgow.

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
LAP LAMBERT Academic Publishing
Date d'édition
2011
Langue
anglais
ISBN 10 
3844317651
ISBN 13 
9783844317657
Reliure
Broché
Nombre de pages
64
Coordonnées du fabricant
non disponible
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