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Romania’S Real Convergence To Eu - Dream Or Reality?


  • Cristian Socol

    (Vice-president GAER)

  • Aura Gabriela Socol

    (Academy of Economic Studies Bucharest)


In transition, the Romanian authorities have advanced the development of prudent macroeconomics policies and implemented structural reforms in the market for goods, labor and financial products. On the long term, Romanian real convergence to the European model is more important than nominal convergence. In this paper, we identify the main priorities for the success of Romanian admittance in European Union. The nominal convergence must be attained faster because this process supposes stability prices, the financial soundness indicators, the need to stabilize exchange rate. In addition, the real convergence with European Union is very important.

Suggested Citation

  • Cristian Socol & Aura Gabriela Socol, 2007. "Romania’S Real Convergence To Eu - Dream Or Reality?," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 6(6(511)(su), pages 61-72, June.
  • Handle: RePEc:agr:journl:v:6(511)(supplement):y:2007:i:6(511)(supplement):p:61-72

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    References listed on IDEAS

    1. Maurice Obstfeld & Kenneth Rogoff, 2001. "The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?," NBER Chapters,in: NBER Macroeconomics Annual 2000, Volume 15, pages 339-412 National Bureau of Economic Research, Inc.
    2. Isard,Peter, 1995. "Exchange Rate Economics," Cambridge Books, Cambridge University Press, number 9780521466004, March.
    3. Guillermo A. Calvo & Carmen M. Reinhart, 2002. "Fear of Floating," The Quarterly Journal of Economics, Oxford University Press, vol. 117(2), pages 379-408.
    4. Isard,Peter, 1995. "Exchange Rate Economics," Cambridge Books, Cambridge University Press, number 9780521460477, March.
    5. Carmen M. Reinhart & Vincent Raymond Reinhart, 2002. "What Hurts Emerging Markets Most? G3 Exchange Rate or Interest Rate Volatility?," NBER Chapters,in: Preventing Currency Crises in Emerging Markets, pages 133-170 National Bureau of Economic Research, Inc.
    6. Ronald MacDonald, 1997. "What Determines Real Exchange Rates? The Long and Short of it," IMF Working Papers 97/21, International Monetary Fund.
    7. Edison, Hali J. & Pauls, B. Dianne, 1993. "A re-assessment of the relationship between real exchange rates and real interest rates: 1974-1990," Journal of Monetary Economics, Elsevier, vol. 31(2), pages 165-187, April.
    8. Meese, Richard A & Rogoff, Kenneth, 1988. " Was It Real? The Exchange Rate-Interest Differential Relation over the Modern Floating-Rate Period," Journal of Finance, American Finance Association, vol. 43(4), pages 933-948, September.
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