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Privatization and European Economic and Monetary Union

Author

Listed:
  • Venilde Jeronimo

    () (Center for Internet Studies, University of Washington)

  • Jose A. Pagan

    (University of Texas-Pan American)

  • Gokce Soydemir

    (University of Texas-Pan American)

Abstract

To qualify for full membership in the Economic and Monetary Union, member states had to meet strict budget deficit and government debt convergence criteria. This study analyzes whether deficits and indebtedness in the 1990s in Spain, Italy, Portugal and Greece were associated with a shift from privatization as a tool of economic restructuring, to privatization as a tool of European monetary convergence. The empirical results suggests that privatization funds accruing from the sale of state-owned enterprises in the Southern European countries might have been used to tackle budget deficits and meet the stringent criteria for monetary integration.

Suggested Citation

  • Venilde Jeronimo & Jose A. Pagan & Gokce Soydemir, 2000. "Privatization and European Economic and Monetary Union," Eastern Economic Journal, Eastern Economic Association, vol. 26(3), pages 321-333, Summer.
  • Handle: RePEc:eej:eeconj:v:26:y:2000:i:3:p:321-333
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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume26/V26N3P321_333.pdf
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    Cited by:

    1. repec:ces:ifodic:v:3:y:2005:i:1:p:14567530 is not listed on IDEAS
    2. Ansgar Belke & Friedrich Schneider, 2003. "Privatization in Austria: Some Theoretical Reasons and First Results About the Privatization Proceeds," Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim 229/2003, Department of Economics, University of Hohenheim, Germany.

    More about this item

    Keywords

    Monetary Union; Privatization;

    JEL classification:

    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
    • F15 - International Economics - - Trade - - - Economic Integration

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