Wplyw wprowadzenia euro na handel panstw czlonkowskich unii monetarnej[The impact of the euro introduction on the trade in the monetary union member states]

Motivation: According to the new theory of the optimal currency area, the unification of the currency should contribute to increasing the economic ties of the Member States. In the literature on the subject, the effect of trade creation, resulting from the introduction of the euro, is called the euro effect. Although there are a lot of studies on this effect and many aspects related to it, it is difficult to clearly determine its size, especially for the countries of Central and Eastern Europe that introduced the euro in 2007–2015. Aim: The aim of the article is to present a list of studies of economists specializing in research on the euro effect and the results of own statistical analysis. Materials and methods: A critical analysis of the literature on the subject, both Polish and foreign, and statistical analysis based on the World Bank data were used. Results: The euro effect undoubtedly occurs, however it is difficult to clearly determine its size. It is diversified in terms of the sector. In addition, one can notice the diversified impact of the euro introduction on the trade of the monetary union individual members, which depends on several factors, i.e. the moment the introduction of the euro, market size, economic openness of countries and the specialization, and the fragmentation of production of individual economies.