IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/21222.html
   My bibliography  Save this paper

Economic Convergence between Macedonia and European Monetary Union Member States. The Five Maastricht Criteria

Author

Listed:
  • Dauti, Bardhyl
  • Bodo, Herzog

Abstract

The euro was introduced on January 1, 1999. As of now, 16 European Union Member States have adopted the euro in line with the requirements of the Treaty, the most recent ones being Cyprus and Malta on January 1, 2008 and Slovakia on January 1, 2009. This implies that 11 Member States are at present not full participants in Economic and Monetary Union (EMU) and have not yet adopted the euro. In this paper, Macedonia is assessed the first time in respect of EMU‟s economic criteria. This is due to the fact that Macedonia wants to join the EU in the coming up years. It also has to be taken into account that Macedonia intends to adopt the euro in a second step in the near future whose currency has followed a high volatility over several years. This requires an analysis of how the Macedonia‟s economy would operate under conditions of irrevocably fixed exchange rates. The examination of the economic convergence process is highly dependent on the quality and integrity of the underlying statistics. The compilation and reporting of statistics, particularly government finance statistics must not be subject to political considerations. We suppose that the first analysis in this respect is not without any problems because of the data base available in Macedonia. However, we believe that our analysis of the Maastricht convergence criteria is very important and a milestone for the future economic policy decisions in Macedonia.

Suggested Citation

  • Dauti, Bardhyl & Bodo, Herzog, 2008. "Economic Convergence between Macedonia and European Monetary Union Member States. The Five Maastricht Criteria," MPRA Paper 21222, University Library of Munich, Germany, revised 2009.
    • Handle: RePEc:pra:mprapa:21222
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/21222/1/MPRA_paper_21222.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Fabrizio Coricelli & Boštjan Jazbec, 2004. "Exchange Rate Arrangements in the Accession to the EMU," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 46(1), pages 4-22, March.
    2. Fatmir Besimi, 2004. "The Role of the Exchange Rate Stability in a Small and Open Economy: The Case of the Republic of Macedonia," Working Papers 2004-01, National Bank of the Republic of North Macedonia.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Josheski, Dushko, 2014. "Keynesian macroeconomics without the LM curve: IS-MP-IA model and Taylor rule applied to some CESEE economies," MPRA Paper 53832, University Library of Munich, Germany.
    2. Jarko Fidrmuc, 2004. "The Endogeneity of the Optimum Currency Area Criteria, Intra‐industry Trade, and EMU Enlargement," Contemporary Economic Policy, Western Economic Association International, vol. 22(1), pages 1-12, January.
    3. Dmitri Boreiko, 2003. "EMU and accession countries: Fuzzy cluster analysis of membership," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 8(4), pages 309-325.
    4. Jan Fidrmuc & Peter Huber, 2005. "AccessLab: Drawing Conclusions and Deriving Policy Implications," WIFO Studies, WIFO, number 25452, February.
    5. Martin Wagner & Jaroslava Hlouskova, 2004. "What's Really the Story with this Balassa-Samuelson Effect in the CEECs?," Diskussionsschriften dp0416, Universitaet Bern, Departement Volkswirtschaft.
    6. Mateusz Szczurek, 2006. "Exchange Rate Regimes and Nominal Convergence," Springer Books, in: Marek Dabrowski & Jacek Rostowski (ed.), The Eastern Enlargement of the Eurozone, chapter 0, pages 91-111, Springer.
    7. Yu HSING, 2019. "Is real depreciation or more government deficit expansionary? The case of Macedonia," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(1(618), S), pages 51-60, Spring.
    8. Zenon Kontolemis & Kevin Ross, 2005. "Exchange Rate Fluctuations in the New Member States of the European Union," Macroeconomics 0504015, University Library of Munich, Germany.
    9. repec:agr:journl:v:1(618):y:2019:i:1(618):p:51-60 is not listed on IDEAS
    10. Fabrizio Iacone & Renzo Orsi, 2002. "Exchange Rate Management and Inflation Targeting in the CEE Accession Countries," Eastward Enlargement of the Euro-zone Working Papers wp08, Free University Berlin, Jean Monnet Centre of Excellence, revised 01 Aug 2002.

    More about this item

    Keywords

    EMU; Economic Convergence; Maastricht;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:21222. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.