{"product_id":"testing-for-euro-dominance-in-central-and-eastern-europe-von-alexander-kadow","title":"Testing for Euro Dominance in Central and Eastern Europe","description":"\u003cp\u003eThe 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.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783844317657\"\u003e\u003ch3\u003eAn upgrade of the German Dominance Hypothesis\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783844317657","offer_id":39495966851165,"sku":"9783844317657","price":49.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/5ed63e8e-84e3-4741-820e-05376bb617b4.jpg?v=1775190673","url":"https:\/\/shop.autorenwelt.de\/products\/testing-for-euro-dominance-in-central-and-eastern-europe-von-alexander-kadow","provider":"Autorenwelt Shop","version":"1.0","type":"link"}