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Leu Versus Euro In The Light Of Romania Joining E.M.U. And The Global Financial Crisis

Author

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  • Iulia Andreea Bucur

    (University of Bacău)

Abstract

The european single currency has marked and will continue to mark significant changes european countries, including those who are not yet included in the euro area, but which apply to European economic and monetary integration. The status of member state of the European Union from the 1st of January 2007 supposes that Romania will align the Economic and Monetary Union’s requirements in the frame of assuming the adopting of the european single currency in time horizon 2014. The present paper aims to offer an overview of the euro/romanian leu exchange rate evolution having as departure point Romania’s adhesion moment to European Union, the 1st of January 2007, outlining the main factors of influence that have led the trend of appreciation or depreciation of the national currency against european single currency under the economic and financial crisis. In the frame of the current international crisis Romania’s adhesion to the Economic and Monetary Union (EMU) in 2014 might be affected, resulting in increased effort it involves the performance criteria for nominal convergence.

Suggested Citation

  • Iulia Andreea Bucur, 2009. "Leu Versus Euro In The Light Of Romania Joining E.M.U. And The Global Financial Crisis," Romanian Economic Business Review, Romanian-American University, vol. 4(3), pages 51-60, September.
  • Handle: RePEc:rau:journl:v:4:y:2009:i:3:p:51-60
    as

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    File URL: http://www.rebe.rau.ro/RePEc/rau/journl/FA09/REBE-FA09-A5.pdf
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    References listed on IDEAS

    as
    1. Timothy J. Kehoe & Edward C. Prescott, 2002. "Great Depressions of the Twentieth Century," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(1), pages 1-18, January.
    2. Heiko Hesse & Nathaniel Frank & Brenda Gonzalez-Hermosillo, 2008. "Transmission of Liquidity Shocks; Evidence from the 2007 Subprime Crisis," IMF Working Papers 08/200, International Monetary Fund.
    3. Timothy J. Kehoe & Edward C. Prescott(), 2007. "Great depressions of the twentieth century," Monograph, Federal Reserve Bank of Minneapolis, number 2007gdott.
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