IDEAS home Printed from https://ideas.repec.org/a/vls/finstu/v14y2010i4p167-177.html
   My bibliography  Save this article

Exchange Rate In The New Member States Of The European Union: Developments Within The Global Financial And Economic Crisis

Author

Listed:
  • Milea, Camelia

    (Centre for Financial and Monetary Research “Victor Slăvescu”, Romanian Academy)

  • Iordache, Floarea

    (Centre for Financial and Monetary Research “Victor Slăvescu”, Romanian Academy)

Abstract

Due to the global financial and economic crisis, the analysis of the nominal convergence criteria fulfillment in the New Member States of the European Union represents an important point in evaluating the level of readiness of these countries for euro adoption. The global financial and economic crisis had a relatively strong impact over most of the New Member States, as their macroeconomic disequilibria led to the amplification of their vulnerability level. The crisis' effects over the New Member States took place in a different manner depending on the existing exchange rate regime. During the last two years, the financial markets of the countries participating to the Exchange Rate Mechanism II crossed highly volatile periods, which generated strong tensions inside this mechanism. The exchange rates of the non-participants to the Exchange Rate Mechanism II registered strong fluctuations in most of the analyzed countries beginning from the end of 2008.

Suggested Citation

  • Milea, Camelia & Iordache, Floarea, 2010. "Exchange Rate In The New Member States Of The European Union: Developments Within The Global Financial And Economic Crisis," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 14(4), pages 167-177.
  • Handle: RePEc:vls:finstu:v:14:y:2010:i:4:p:167-177
    as

    Download full text from publisher

    File URL: ftp://www.ipe.ro/RePEc/vls/vls_pdf/vol14i4p167-177.pdf
    Download Restriction: no

    More about this item

    Keywords

    international economic-financial crisis; new member states; currency exchange; fluctuations; Exchange Rate Mechanism II;

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F15 - International Economics - - Trade - - - Economic Integration
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • G01 - Financial Economics - - General - - - Financial Crises

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vls:finstu:v:14:y:2010:i:4:p:167-177. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Daniel Mateescu). General contact details of provider: http://edirc.repec.org/data/cfiarro.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.