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CEEC Accession Countries and the EMU - An Assessment of Relative and Readiness for Euro-Area Membership

Author

Listed:
  • Kozluk, Tomasz

    () (European University Institute)

Abstract

Eastward enlargement of the Eurozone will result in transition economies sharing a currency with well-established market economies. We compare the suitability of the candidates relative to current members at a similar time before joining, as well as their readiness to comply with Maastricht criteria. Using fuzzy clustering and principal components, we assess patterns of convergence, possible inhomogeneities within the future Eurozone and create readiness and suitability indexes. We find the CEECs more suitable in terms of OCA criteria and more ready than some of the current members once were. Moreover, they are not found to follow distinct convergence paths.

Suggested Citation

  • Kozluk, Tomasz, 2005. "CEEC Accession Countries and the EMU - An Assessment of Relative and Readiness for Euro-Area Membership," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 20, pages 439-474.
  • Handle: RePEc:ris:integr:0324
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    Citations

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    Cited by:

    1. Boubakri, Salem & Guillaumin, Cyriac, 2011. "Financial integration and currency risk premium in CEECs: Evidence from the ICAPM," Emerging Markets Review, Elsevier, vol. 12(4), pages 460-484.
    2. Itir Ozer & Ibrahim Ozkan, 2008. "Practical Insights From Oca Variable Combinations," Economic Annals, Faculty of Economics, University of Belgrade, vol. 53(176), pages 38-60, January -.
    3. Tsangarides, Charalambos G. & Qureshi, Mahvash Saeed, 2008. "Monetary Union Membership in West Africa: A Cluster Analysis," World Development, Elsevier, vol. 36(7), pages 1261-1279, July.
    4. Marcin Łupiński, 2009. "Four Years After Expansion: Are Czech Republic, Hungary and Poland Closer to Core or Periphery of EMU?," Ekonomia journal, Faculty of Economic Sciences, University of Warsaw, vol. 22.
    5. repec:ebl:ecbull:v:6:y:2007:i:44:p:1-18 is not listed on IDEAS
    6. Itir Ozer & Ibrahim Ozkan, 2007. "Optimum filtering for optimum currency areas criteria," Economics Bulletin, AccessEcon, vol. 6(44), pages 1-18.
    7. Mark J. Holmes & Ping Wang, 2008. "Real Convergence and Regime-Switching Among EU Accession Countries," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 6(1), pages 9-27.

    More about this item

    Keywords

    EMU; Nominal convergence; Real convergence; OCA; Accessioncountries; CEECs;

    JEL classification:

    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • F00 - International Economics - - General - - - General
    • F15 - International Economics - - Trade - - - Economic Integration
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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