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ROMANIA'S REAL CONVERGENCE TO THE EUROPEAN UNION Dragos Mihai Ungureanu , Permanent Representation of Romania to the European Union Ruxandra Dana Vilag, Romanian-American University Bucharest George Horia Ionescu, Romanian-American University Bucharest Florian Bogdan Stoian, “Lucian Blaga†University of Sibiu

Author

Listed:
  • DragoÅŸ Mihai Ungureanu

    (Permanent Representation of Romania to the European Union)

  • Ruxandra Dana Vilag

    (Romanian-American University Bucharest)

  • George Horia Ionescu

    (Romanian-American University Bucharest)

  • Florian Bogdan Stoian

    (“Lucian Blaga†University of Sibiu)

Abstract

In the process of European integration, switching in 1999 to the third stageof Economic and Monetary Union, has intensified the need to coordinate economic andsectoral policies of the Member States. The process of coordination is necessary toharmonize national economic policy objectives in order to minimize the negative impactof economic policy measures taken by some member countries to other member countriesand reduce the temptation for Member States to have behavior riders. Real Convergenceis an essential goal of Romanian integration into the European Union. Attenuation of thedevelopment gaps maintained between Romania and the EU can not be achieved solelythrough the use of market forces. Economic transformations occurring globally andincreased risk aversion contributed to a signifiant reduction of capital flows to Romania,increased pressures upon exchange rate.

Suggested Citation

  • DragoÅŸ Mihai Ungureanu & Ruxandra Dana Vilag & George Horia Ionescu & Florian Bogdan Stoian, 2009. "ROMANIA'S REAL CONVERGENCE TO THE EUROPEAN UNION Dragos Mihai Ungureanu , Permanent Representation of Romania to the European Union Ruxandra Dana Vilag, Romanian-American University Bucharest George H," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(11), pages 1-14.
  • Handle: RePEc:alu:journl:v:2:y:2009:i:11:p:14
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    References listed on IDEAS

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    1. Ricardo Hausmann & Lant Pritchett & Dani Rodrik, 2005. "Growth Accelerations," Journal of Economic Growth, Springer, vol. 10(4), pages 303-329, December.
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    3. Andrea Bassanini & Stefano Scarpetta, 2003. "The Driving Forces of Economic Growth: Panel Data Evidence for the OECD Countries," OECD Economic Studies, OECD Publishing, vol. 2001(2), pages 9-56.
    4. Richard N. Langlois, 2000. "Knowledge, Consumption, and Endogenous Growth," Working papers 2000-02, University of Connecticut, Department of Economics.
    5. Dirk Pilat & Paul Schreyer, 2003. "Measuring productivity," OECD Economic Studies, OECD Publishing, vol. 2001(2), pages 127-170.
    6. Dalgaard, Carl-Johan & Vastrup, Jacob, 2001. "On the measurement of [sigma]-convergence," Economics Letters, Elsevier, vol. 70(2), pages 283-287, February.
    7. Benhabib, Jess & Spiegel, Mark M, 2000. "The Role of Financial Development in Growth and Investment," Journal of Economic Growth, Springer, vol. 5(4), pages 341-360, December.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Real convergence; nominal convergence; integration; European Union;

    JEL classification:

    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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