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A New Approach Of Romania'S Monetary Integration - An Adjusted Model

Author

Listed:
  • MARCU Nicu

    (University of Craiova)

  • TANASIE Anca

    (University of Craiova)

Abstract

Recent crisis evolutions have changed both the hypothesis in terms of monetary integration inside the Euro Zone for future members, but also the type of approach needed in order to achieve two major objectives' sets. These aims can be described as sustainability and medium and long term macroeconomic volatility control. This paper envisages pointing out Romania's necessary approach concerning the Euro adoption process based on a set of variables determining a so called convergence array. Components are determined leaving from the depth of the real convergence and catching-up process, from the structural analysis of the Romanian economy and its GDP evolution during recent years and getting to the out-put variation, foreign debt directing towards more or less productive investments. In order to get a clearer perspective of Romania's growth perspective, we test the OeNB's Forecasting Model for Selected CESEE Countries for Romania.

Suggested Citation

  • MARCU Nicu & TANASIE Anca, 2013. "A New Approach Of Romania'S Monetary Integration - An Adjusted Model," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 65(1), pages 69-80.
    • Handle: RePEc:blg:reveco:v:65:y:2013:i:1:p:69-80
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    File URL: http://economice.ulbsibiu.ro/revista.economica/archive/65105marcu&tanasie.pdf
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    References listed on IDEAS

    as
    1. Heinemann, Friedrich, 1994. "Central Europe and European monetary integration: a strategy for catching up," ZEW Discussion Papers 94-21, ZEW - Leibniz Centre for European Economic Research.
    2. Nabil Ben Arfa, 2009. "Analysis of Shocks Affecting Europe: EMU and some Central and Eastern Acceding Countries," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 56(1), pages 21-38, March.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Euro; convergence; monetary integration; economic crisis;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F37 - International Economics - - International Finance - - - International Finance Forecasting and Simulation: Models and Applications

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