Euro Adoption In Central And Eastern Europe

Author : Ms.Susan Schadler
Publisher : International Monetary Fund
ISBN 13 : 9781589063709
Total Pages : 222 pages
Book Rating : 4.08/5 ( download)

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Download or read book Euro Adoption in Central and Eastern Europe written by Ms.Susan Schadler and published by International Monetary Fund. This book was released on 2005-04-18 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Eight central and eastern European countries--the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovak Republic, and Slovenia--officially joined the European Union (EU) in May 2004. This auspicious milestone marked the beginning of the next major step for these countries in their move toward full integration with the EU-adoption of the euro. Seeking to consider the opportunities and challenges of euro adoption, the papers in this volume--by a noted group of country officials, academics, representatives of international institutions, and market participants-offer insight on the various dimensions of euro adoption in these eight new EU members--how they should prepare, whether an early move is optimal, and what pitfalls may occur along the way.

Author : Krisztina Arató
Publisher : Routledge
ISBN 13 : 042953700X
Total Pages : 252 pages
Book Rating : 4.04/5 ( download)

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Download or read book The Political Economy of the Eurozone in Central and Eastern Europe written by Krisztina Arató and published by Routledge. This book was released on 2021-06-30 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: The idea for this volume came from the enigma that some Central and Eastern European (CEE) European Union (EU) member states have been keen to join the Eurozone while others have shown persistent reluctance. Moreover, the attitudes towards joining have seemingly not correlated with either the level of economic development or the time spent as part of the EU, nor with any other rational reason such as the level of integration into the EU real economy, or the level of trust in the EU on the part of the public. Therefore, at first sight, the answer to the question ‘why in, why out?’ remains rather unclear. The attractiveness of the currency union has nevertheless not disappeared for the CEE countries. Despite the Eurozone crisis of 2010–13, it was during that time that the Baltic states introduced the euro. Then, after a few years of inactivity, Croatia and Bulgaria successfully applied for membership of the exchange rate mechanism in July 2020, amid the economic crisis caused by the coronavirus (COVID-19) pandemic. At the same time, the three Visegrad countries still using their national currencies – Poland, Czechia and Hungary – no longer have a target date to join the monetary union. This volume aims to discuss these issues from horizontal aspects and through country studies, with contributions from expert authors from, or closely related to, the CEE region.

Author : Frank Schimmelfennig
Publisher : Cornell University Press
ISBN 13 : 9780801489617
Total Pages : 278 pages
Book Rating : 4.1X/5 ( download)

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Download or read book The Europeanization of Central and Eastern Europe written by Frank Schimmelfennig and published by Cornell University Press. This book was released on 2005 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book demonstrates the importance of the credibility and the costs of accession conditionality for the adoption of EU rules in Central and Eastern Europe.

Author : Jan Drahokoupil
Publisher : Routledge
ISBN 13 : 0415466032
Total Pages : 257 pages
Book Rating : 4.35/5 ( download)

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Download or read book Globalization and the State in Central and Eastern Europe written by Jan Drahokoupil and published by Routledge. This book was released on 2009 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the transformation of the state in Central and Eastern Europe since the end of communism and adoption of market oriented reform in the early 1990s, exploring the impact of globalization and economic liberalization on the region’s states, societies and political economy. It compares the different policies and national strategies adopted by key Central and Eastern European states, including the Czech Republic, Poland, Hungary and Slovakia, showing how initial internally oriented strategies of market reform, privileging domestic sources of investment, had by the late 1990s given way to externally oriented strategies emphasising the promotion of competitiveness by attracting foreign investment. It explores the reasons behind this convergence, considering the influence of internal and external forces, and the roles of interests, institutions and ideas. It argues that internationalization of the state is forged in the processes through which domestic groups linked to transnational capital attain domestic influence necessary to shape state policy and strategy. These groups — the comprador service sector in particular — constitute and organize political, social and institutional support of the competition state in the region. Overall, this book not only provides a detailed account of the political economy of post-communist transformation in Central and Eastern Europe, but also the processes by which states adapt to the forces of globalization.

Author : Andreas Penzkofer
Publisher : GRIN Verlag
ISBN 13 : 3638681130
Total Pages : 73 pages
Book Rating : 4.31/5 ( download)

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Download or read book Euro Adoption by Accession Countries - Macroeconomic Aspects of the Economic and Monetary Union written by Andreas Penzkofer and published by GRIN Verlag. This book was released on 2008-04 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2006 in the subject Economics - Macro-economics, general, grade: 1,0, Wayne State University (Department of Economics), course: Macroeconomics, 26 entries in the bibliography, language: English, abstract: On 1st May 2004 ten new member states joined the European Union (EU), e.g. Estonia, Poland and Slovenia. The countries won't adopt the euro as their new currency immediately, because they first have to show that their economies have converged with the economy of the euro zone. Presently, the efforts and opinions of the new members differ about the adoption of the single currency. For instance, the Slovenian Prime Minister Janez Jansa told the press in February 2006 that there "is nothing on the path ahead" that could endanger the euro adoption in 2007. The government pursues a tight fiscal policy to meet all entry requirements. Recently, it introduced a dual pricing - that means all prices of goods and services are marked in tolars as well as euros - to raise consumer awareness in the preparation for the euro adoption.1 Contrarily, other countries are skeptical. The leader of the Polish conservative party Jaroslaw Kaczynski said during a campaign that he "doesn't see any benefits in adopting the euro. Euro adoption would lead to lower exports, lower national income and higher unemployment." The Estonian Sirje Karu said in an interview, that "Estonians are scared. We heard that when Finland adopted the euro, it took them quite a while to get used to it and prices increased. The poorest suffered." Using this situation as a background, it is interesting to analyze the euro adoption by accession states. How does the adoption process work? When should the euro be introduced and what macroeconomic effects does it have?

Author : Miroslav Beblavý
Publisher : Cambridge University Press
ISBN 13 : 1139503634
Total Pages : pages
Book Rating : 4.31/5 ( download)

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Download or read book The Euro Area and the Financial Crisis written by Miroslav Beblavý and published by Cambridge University Press. This book was released on 2011-10-06 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis of 2007–10 has presented a number of key policy challenges for those concerned with the long-term stability of the euro area. It has shown that price stability as provided by the European Central Bank is not enough to guarantee financial stability, and exposed fault lines in governance and deficiencies in the architecture of the financial supervisory and regulatory framework. This book addresses these and other issues, including why the crisis affected some countries more than others, whether the euro is still attractive for new EU states, and what policy changes and structural reforms, both macro and micro, should be undertaken to ensure its future viability. Written by a team of leading academic and central bank economists, the book also includes chapters on the cross-country incidence of the crisis, the Irish crisis and ECB monetary policy during the crisis, and studies on Spain, the Baltics, Slovakia and Slovenia.

Author : Ivano Cardinale
Publisher : Cambridge University Press
ISBN 13 : 1107124018
Total Pages : 589 pages
Book Rating : 4.11/5 ( download)

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Download or read book The Political Economy of the Eurozone written by Ivano Cardinale and published by Cambridge University Press. This book was released on 2017-10-12 with total page 589 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book proposes a new way of thinking about the Eurozone, exploring the overlap between its economic and political interdependencies.

Author : Andrzej Cieślik
Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.91/5 ( download)

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Download or read book Consequences of the Euro Adoption by Central and Eastern European (CCE) Countries for Their Trade Flows written by Andrzej Cieślik and published by . This book was released on 2012 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : International Monetary Fund. European Dept.
Publisher :
ISBN 13 : 9781484322130
Total Pages : 0 pages
Book Rating : 4.34/5 ( download)

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Download or read book Central and Eastern Europe written by International Monetary Fund. European Dept. and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: KEY ISSUES 2014 marked the tenth anniversary of accession to the EU of the first group of Central and Eastern European (CEE) countries. The first NMS Policy Forum was launched in the fall of 2014 as a platform for discussing policy frameworks and issues relevant for non-euro area NMS. It brought together representatives of the six CEE countries that are EU members but are not yet in the euro area - Bulgaria, Croatia, Czech Republic, Hungary, Poland, and Romania (NMS-6), as well as the ECB, the European Commission and the IMF. Discussions focused on four themes: Euro adoption: A once sizeable c.

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484321391
Total Pages : 105 pages
Book Rating : 4.93/5 ( download)

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Download or read book Central and Eastern Europe written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2015-04-07 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues Paper’s objective is to illustrate economic benefits and costs from euro adoption by reviewing the main arguments and empirical evidence in Central and Eastern Europe: New Member States (NMS). The parameters of the euro adoption debate have shifted. Although countries joining the euro area in the 2000s could expect to benefit from a significant country risk premium, this premium has mostly vanished with the euro crisis. The NMS that have maintained exchange rate flexibility and monetary policy autonomy have, in general, made good use of it. During convergence, nominal currency appreciation supported more balanced growth and restrained credit and asset price booms. It is an open question whether the macroeconomic volatility of the past decade will recur. If divergent growth patterns and volatility were to repeat, euro adoption would constrain macro-policy options, especially for economies with large income gaps and asynchronized business cycles vis-à-vis the euro area. Thus, a large burden would be placed on other policy instruments to safeguard balanced growth, notably counter-cyclical fiscal policy and macro-prudential policies. Structural reforms to boost growth potential and facilitate internal adjustment would also be important.