EU Enlargement: Are the New Countries Ready to Join the EMU?
AbstractThis paper investigates empirically the extend to which the ten new countries of the current EU enlargement are ready to join the European Monetary Union (EMU). We assess the prospects of successful accession into the EMU using cointegration and common trends analysis on the nominal convergence criteria specified by the Maastricht Treaty as well as on real per capita GDPs. The empirical results indicate that the enlargement countries are partially ready to join the Eurozone, and need further adjustments in their government policies to be fully prepared for joining the EMU.
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Bibliographic InfoPaper provided by University of Cyprus Department of Economics in its series University of Cyprus Working Papers in Economics with number 6-2003.
Length: 28 pages
Date of creation: Oct 2003
Date of revision:
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Web page: http://www.econ.ucy.ac.cy
Economic Integration; EU Enlargement; Cointegration; Common Trends;
This paper has been announced in the following NEP Reports:
- NEP-EEC-2003-07-10 (European Economics)
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