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The Competitiveness Of Emu Member States In The Financial Crisis

Author

Listed:
  • Rujan Ovidiu
  • Tartavulea Ramona Iulia
  • Vasilescu Felician

Abstract

In the context of the financial crisis the imbalances in the euro area have been underlined. The issue had been previously debated during the years preceding the financial crisis, but the strong global economic expansion and the ongoing economic integration within the euro area partly masked the problems arising from these differential developments. This paper analyses the advantages and disavantages of the monetary union before and during the financial crisis and focuses on identifying solutions to correct the structural problems that are at the root of the economic divergencies within the euro area. Another issue that we discuss is how did price competitiveness diverged from one euro-area member state to another since the introduction of the euro, causing gains in price competitiveness for a small group of countries and significant losses for a larger group. The issue of competitiveness is essential for Romania as we are heading towards joining the euro zone.

Suggested Citation

  • Rujan Ovidiu & Tartavulea Ramona Iulia & Vasilescu Felician, 2010. "The Competitiveness Of Emu Member States In The Financial Crisis," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 91-96, July.
    • Handle: RePEc:ora:journl:v:1:y:2010:i:1:p:91-96
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    File URL: http://anale.steconomiceuoradea.ro/volume/2010/n1/012.pdf
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    More about this item

    Keywords

    EMU; competitiveness; structural problems;
    All these keywords.

    JEL classification:

    • H7 - Public Economics - - State and Local Government; Intergovernmental Relations
    • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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