ROMANIA'S REAL CONVERGENCE TO THE EUROPEAN UNION Dragos Mihai Ungureanu , Permanent Representation of Romania to the European Union Ruxandra Dana Vilag, Romanian-American University Bucharest George Horia Ionescu, Romanian-American University Bucharest Florian Bogdan Stoian, â€œLucian Blagaâ€ University of Sibiu
AbstractIn the process of European integration, switching in 1999 to the third stageof Economic and Monetary Union, has intensified the need to coordinate economic andsectoral policies of the Member States. The process of coordination is necessary toharmonize national economic policy objectives in order to minimize the negative impactof economic policy measures taken by some member countries to other member countriesand reduce the temptation for Member States to have behavior riders. Real Convergenceis an essential goal of Romanian integration into the European Union. Attenuation of thedevelopment gaps maintained between Romania and the EU can not be achieved solelythrough the use of market forces. Economic transformations occurring globally andincreased risk aversion contributed to a signifiant reduction of capital flows to Romania,increased pressures upon exchange rate.
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Bibliographic InfoArticle provided by Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia in its journal Annales Universitatis Apulensis Series Oeconomica.
Volume (Year): 2 (2009)
Issue (Month): 11 ()
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Real convergence; nominal convergence; integration; European Union;
Find related papers by JEL classification:
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
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