Economic, Political, Institutional as well as Social Risks and Opportunities of EMU Enlargement
AbstractThe inclusion on May 1st, 2004 of eight Central and Eastern European Countries (CEEC) into the European Union (EU), and subsequently into the European Monetary Union (EMU) some years later, will cause deep changes within the political, economic, and social settings of the Union as well as in those of the new member countries. This paper’s underlying idea is that the new EU members in Central and Eastern Europe should continue to pursue an economic strategy of real convergence to the economic levels of the "old" member countries as rapidly as possible by securing sustained growth, e.g. by increasing private savings and by reducing the current account deficit. This report will discuss the implications of a "catch-up" strategy and have a look at the economic, political, social and institutional consequences for EMU enlargement.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Free University Berlin, Jean Monnet Centre of Excellence in its series Eastward Enlargement of the Euro-zone Working Papers with number wp22.
Length: 28 pages
Date of creation: 01 Jun 2004
Date of revision: 01 Jun 2004
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-07-18 (All new papers)
- NEP-EEC-2004-07-18 (European Economics)
- NEP-HIS-2004-07-18 (Business, Economic & Financial History)
- NEP-POL-2004-07-18 (Positive Political Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Barry J. Eichengreen & Inci Ã–tker & A. Javier Hamann & Esteban Jadresic & R. B. Johnston & Hugh Bredenkamp & Paul R. Masson, 1998. "Exit Strategies: Policy Options for Countries Seeking Exchange Rate Flexibility," IMF Occasional Papers 168, International Monetary Fund.
- Tito Boeri & Katherine Terrell, 2002.
"Institutional Determinants of Labor Reallocation in Transition,"
Journal of Economic Perspectives,
American Economic Association, vol. 16(1), pages 51-76, Winter.
- Tito Boeri & Katherine Terrell, 2001. "Institutional Determinants of Labor Reallocation in Transition," William Davidson Institute Working Papers Series 384, William Davidson Institute at the University of Michigan.
- Levine, Ross & Renelt, David, 1991.
"A sensitivity analysis of cross-country growth regressions,"
Policy Research Working Paper Series
609, The World Bank.
- Levine, Ross & Renelt, David, 1992. "A Sensitivity Analysis of Cross-Country Growth Regressions," American Economic Review, American Economic Association, vol. 82(4), pages 942-63, September.
- Achim Kemmerling, 2003. "Regional Input on the Social Dimension of Ezoneplus: Belgium, The Netherlands, France, Austria, and Germany," Eastward Enlargement of the Euro-zone Working Papers wp13c, Free University Berlin, Jean Monnet Centre of Excellence, revised 01 Mar 2003.
- Soskice, David & Iversen, Torben, 1998. "Multiple Wage-Bargaining Systems in the Single European Currency Area," Oxford Review of Economic Policy, Oxford University Press, vol. 14(3), pages 110-24, Autumn.
- Aaron Tornell & Andres Velasco, 1995.
"Money-Based versus Exchange Rate-Based Stabilization with Endogenous Fiscal Policy,"
NBER Working Papers
5300, National Bureau of Economic Research, Inc.
- Tornell, Aaron & Velasco, Andres, 1995. "Money-Based Versus Exchange Rate-Based Stabilization with Endogenous Fiscal Policy," Working Papers 95-21, C.V. Starr Center for Applied Economics, New York University.
- Giancarlo Marini & Giovanni Piersanti, 2003. "Fiscal Deficits and Currency Crises," CEIS Research Paper 15, Tor Vergata University, CEIS.
- Hans-Werner Sinn, 2001.
"Social Dumping in the Transformation Process?,"
NBER Working Papers
8364, National Bureau of Economic Research, Inc.
- Jan Babetski & Laurence Boone & Mathilde Maurel, 2003.
"Exchange Rate Regimes and Supply Shocks Asymmetry: the Case of the Accession Countries,"
CERGE-EI Working Papers
wp206, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
- Babetskii, Ian & Boone, Laurence & Maurel, Mathilde, 2002. "Exchange Rate Regimes and Supply Shocks Asymmetry: The Case of the Accession Countries," CEPR Discussion Papers 3408, C.E.P.R. Discussion Papers.
- Richard E. Baldwin & Joseph F. Francois & Richard Portes, 1997. "The costs and benefits of eastern enlargement: the impact on the EU and central Europe," Economic Policy, CEPR & CES & MSH, vol. 12(24), pages 125-176, 04.
- Jaakko Kiander & Risto Vaittinen & Tiiu Paas, 2002. "The Eastern Enlargement of the Eurozone and Labour Market Adjustment," Eastward Enlargement of the Euro-zone Working Papers wp06, Free University Berlin, Jean Monnet Centre of Excellence, revised 01 Aug 2002.
- Maurice Obstfeld, 1994. "The Logic of Currency Crises," NBER Working Papers 4640, National Bureau of Economic Research, Inc.
- Alessandra Casella, 2002.
"Redistribution Policy: A European Model,"
NBER Working Papers
9258, National Bureau of Economic Research, Inc.
- Fabio M. Natalucci & Federico Ravenna, 2002.
"The road to adopting the euro: monetary policy and exchange rate regimes in EU candidate countries,"
International Finance Discussion Papers
741, Board of Governors of the Federal Reserve System (U.S.).
- federico ravenna & fabio natalucci, 2003. "the road to adopting the euro: monetary policy and exchange rate regimes in EU candidate countries," Computing in Economics and Finance 2003 227, Society for Computational Economics.
- Buiter, Willem H & Grafe, Clemens, 2002. "Anchor, Float or Abandon Ship: Exchange Rate Regimes for Accession Countries," CEPR Discussion Papers 3184, C.E.P.R. Discussion Papers.
- Christian Fahrholz, 2003. "Strategic Exchange-Rate Policy of Accession Countries in ERM II," Eastward Enlargement of the Euro-zone Working Papers wp14, Free University Berlin, Jean Monnet Centre of Excellence, revised 01 Apr 2003.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Stefan Hohenberger).
If references are entirely missing, you can add them using this form.