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Structural Characteristics of the Maastricht Convergence Criteria

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Abstract

A historical and theoretical examination of the Maastricht convergence criteria for the period 1971 to 1998 produced relatively similar results. By 1998 most of the European Union countries satisfied these criteria. Progress in countries like Greece, Italy, Finland, and Sweden was weak regarding the deficit ratio criterion. Greece, Italy and Belgium also struggled to comply with the debt ratio Maastricht target. After the introduction of the euro as the common currency, discussions will shift from the Maastricht convergence rules to issues of growth within the monetary union, and to convergence of real per capita income across member-countries.

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  • Afxentiou, Panos & Serletis, Apostolos, 2001. "Structural Characteristics of the Maastricht Convergence Criteria," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 54(3), pages 283-298.
    • Handle: RePEc:ris:ecoint:0208
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    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

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