The Costs and Benefits of Euro-sation in Central-Eastern Europe Before or Instead of EMU Membership
AbstractCountries unable or unwilling to join a Monetary Union can partly replicate membership effects through either a Currency Board or formal replacement of the domestic currency by the currency of the Union. Schemes of this kind have been introduced recently in Transition Economies. The net balance of costs and benefits involved, for the country and the common currency area, are shown to be an empirical question, depending on a number of conditions and primarily on the degree of monetary, real, and institutional convergence already achieved beforehand. Positive net advantages may derive from dollar/Euro-isation but should not be taken for granted.
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 William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number 340.
Date of creation: 01 Oct 2000
Date of revision:
Contact details of provider:
Postal: 724 E. University Ave, Wyly Hall 1st Flr, Ann Arbor MI 48109
Phone: 734 763-5020
Fax: 734 763 5850
Web page: http://www.wdi.umich.edu
More information through EDIRC
Euro; monetary union; dollarisation; exchange rate regimes; convergence; transition;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2001-10-01 (All new papers)
- NEP-EEC-2001-10-01 (European Economics)
- NEP-IFN-2001-10-01 (International Finance)
- NEP-PKE-2001-10-01 (Post Keynesian 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.:
- Heliodoro Temprano-Arroyo & Robert A. Feldman, 1999. "Selected transition and Mediterranean countries: an institutional primer on EMU and EU accession," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 7(3), pages 741-805, November.
- Iikka Korhonen, 2000.
"Currency Boards in the Baltic Countries: What Have We Learned?,"
Taylor & Francis Journals, vol. 12(1), pages 25-46.
- Korhonen, Iikka, 1999. "Currency Boards in the Baltic Countries: What Have We Learned?," BOFIT Discussion Papers 6/1999, Bank of Finland, Institute for Economies in Transition.
- Hausmann, Ricardo & Panizza, Ugo & Stein, Ernesto, 2001.
"Why do countries float the way they float?,"
Journal of Development Economics,
Elsevier, vol. 66(2), pages 387-414, December.
- Robert A. Mundell, 2002.
"Currency areas, volatility and intervention,"
0102-09, Columbia University, Department of Economics.
- Eduardo Borensztein & Andrew Berg, 2000. "The Pros and Cons of Full Dollarization," IMF Working Papers 00/50, International Monetary Fund.
- repec:fth:inadeb:418 is not listed on IDEAS
- repec:idb:brikps:6467 is not listed on IDEAS
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Laurie Gendron).
If references are entirely missing, you can add them using this form.