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Nominal Convergence – Are We Getting Closer?

Author

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  • Otilia Georgiana Floroiu

    (“Stefan cel Mare†University of Suceava)

Abstract

All countries that joined the European Union are obligated to adopt the euro currency, except for Denmark that benefits from an opt-out clause. Presently, there are eight EU Member states that are not part of the euro zone: Bulgaria, Croatia, Czechia, Denmark, Hungary, Poland, Romania, and Sweden. The national authorities are free to choose the time of accession and this prerogative allows some states to postpone by not entering the ERM II mechanism. But there are also countries who are severely struggling to meet the economic convergence levels. The degree of economic convergence is analyzed by the European Commission through Flash Eurobarometer surveys every two years. The purpose of this paper is to compare the 2018 Eurobarometer results with our own findings from December 2019, for a total of four countries: Romania, Poland, Hungary, and the Czech Republic.

Suggested Citation

  • Otilia Georgiana Floroiu, 2020. "Nominal Convergence – Are We Getting Closer?," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 356-363, August.
    • Handle: RePEc:ovi:oviste:v:xx:y:2020:i:1:p:356-363
    as

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    File URL: http://stec.univ-ovidius.ro/html/anale/RO/2020/Section%203/18.pdf
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    References listed on IDEAS

    as
    1. Haug, Alfred A. & MacKinnon, James G. & Michelis, Leo, 2000. "European Monetary Union: a cointegration analysis," Journal of International Money and Finance, Elsevier, vol. 19(3), pages 419-432, June.
    2. Vesile Kutlu & Nese Kavrukkoca, 2007. "Evaluating the Maastricht Convergence Criteria for New Prospective European Union Members," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 7(1), pages 13-26.
    3. Minoas Koukouritakis & Leo Michelis, 2003. "EU Enlargement: Are the New Countries Ready to Join the EMU?," University of Cyprus Working Papers in Economics 6-2003, University of Cyprus Department of Economics.
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    More about this item

    Keywords

    Eurozone; nominal convergence; Maastricht criteria;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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