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Eastern European Countries and the EMU: departure situation and transition strategies

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Author Info
Joan Costa Font ()
Joan Batalla Bejerano
Abstract

The large amount of literatuture wihin the EMU makes compleatly imposible in one paper to analyze the consequences of the creation of a "monetary zone " in Europe. However, the recent decision of the European Council to incorporate in two phases the most of Eastern European Countires, introduces an interessant issue in order to evaluate the effects in terms of stability, future, dimension and optimality of a EMU based on 21 states. The paper starts explaining the baseic advances of the EMU, introducing some general data of the countries that are suposed to enter in future. As a second part of the paper the basic points of the Optimum Currency Areas will be established, and finally the third part would be an analysis of the future structure of the EMU using the OCA theory and and empirical analysis.

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Paper provided by European Regional Science Association in its series ERSA conference papers with number ersa98p192.

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Date of creation: Aug 1998
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Handle: RePEc:wiw:wiwrsa:ersa98p192

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  1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-37, October. [Downloadable!] (restricted)
  2. Rollo, Jim, 1995. "EU enlargement and the world trade system," European Economic Review, Elsevier, vol. 39(3-4), pages 467-473, April. [Downloadable!] (restricted)
  3. Selahattin Dibooglu & Julius Horvath, 1997. "Optimum Currency Areas And European Monetary Unification," Contemporary Economic Policy, Western Economic Association International, vol. 15(1), pages 37-49, 01. [Downloadable!] (restricted)
  4. Tamim Bayoumi and Barry Eichengreen., 1996. "Ever Closer to Heaven? An Optimum-Currency-Area Index for European Countries," Center for International and Development Economics Research (CIDER) Working Papers C96-078, University of California at Berkeley.
    Other versions:
  5. Loungani, Prakash & Sheets, Nathan, 1997. "Central Bank Independence, Inflation, and Growth in Transition Economies," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 29(3), pages 381-99, August.
    Other versions:
  6. 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. [Downloadable!] (restricted)
  7. Estrin, Saul & Urga, Giovanni, 1997. "Convergence in Output in Transition Economies: Central and Eastern Europe, 1970-1995," CEPR Discussion Papers 1616, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  8. de Melo, Martha & Denizer, Cevdet & Gelb, Alan, 1996. "From plan to market : patterns of transition," Policy Research Working Paper Series 1564, The World Bank. [Downloadable!]
  9. Buiter, Willem H & Sibert, Anne, 1997. "Transition Issues for the European Monetary Union," CEPR Discussion Papers 1728, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  10. Baldwin, Richard E., 1995. "The Eastern enlargement of the European Union," European Economic Review, Elsevier, vol. 39(3-4), pages 474-481, April. [Downloadable!] (restricted)
  11. Krugman, Paul & Venables, Anthony J., 1990. "Integration and the Competitiveness of Peripheral Industry," CEPR Discussion Papers 363, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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