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EMU, EURO and EU-Membership: An Evaluation from the Turkish Macroeconomic Perspective

Listed author(s):
  • Aykut Kibritcioglu

    (Ankara University)

As a result of the macroeconomic convergence process in the light of the 1991 Maastricht Treaty, the monetary union between most of the EU countries started on January 1, 1999. Meanwhile, ten formerly eastern block countries and the Southern Section of Cyprus are preparing their economy for a full-membership to the EU while Turkey, as an associate- member of the Union since 1963 and as a part of customs union between Turkey and the EU since 1996, seems to be excluded from the next EU enlargement process. Therefore, this paper mainly intends to discuss the following two interrelated questions: (1) How far is Turkey different than the 11 membership candidate countries and the EU countries in terms of the ten selected macroeconomic indicators (1973-1997)? (2) To what extent will the introduction of the euro affect the balance-of-payments accounts and foreign exchange rates in Turkey? (Version: May 2000)

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Paper provided by EconWPA in its series Macroeconomics with number 0301004.

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Length: 30 pages
Date of creation: 15 Jan 2003
Date of revision: 16 Jan 2003
Handle: RePEc:wpa:wuwpma:0301004
Note: Type of Document - Microsoft Word / Acrobat Reader; prepared on PC; to print on any printer; pages: 30 ; figures: included
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  1. Ratna Sahay & Carlos A. Végh Gramont & Stanley Fischer, 1998. "How Far Is Eastern Europe from Brussels?," IMF Working Papers 98/53, International Monetary Fund.
  2. Yavuz EGE, 1998. "Euro''Nun Diş Ticaretimiz Üzerine Muhtemel Etkileri," Iktisat Isletme ve Finans, Bilgesel Yayincilik, vol. 13(147), pages 7-11.
  3. Agnès Bénassy-Quéré & Amina Lahrèche-Revil, 1998. "Pegging the CEECs Currencies to the Euro," Working Papers 1998-04, CEPII research center.
  4. Norbert Funke & Mike Kennedy, 1997. "International Implications of European Economic and Monetary Union," OECD Economics Department Working Papers 174, OECD Publishing.
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