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

Author

Listed:
  • Aykut Kibritcioglu

    (Ankara University)

Abstract

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)

Suggested Citation

  • Aykut Kibritcioglu, 2003. "EMU, EURO and EU-Membership: An Evaluation from the Turkish Macroeconomic Perspective," Macroeconomics 0301004, University Library of Munich, Germany, revised 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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    References listed on IDEAS

    as
    1. Ms. Ratna Sahay & Mr. Carlos A. Végh Gramont & Mr. Stanley Fischer, 1998. "How Far Is Eastern Europe from Brussels?," IMF Working Papers 1998/053, 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. Mr. Robert A Feldman & Heliodoro Temprano-Arroyo, 1998. "Selected Transition and Mediterranean Countries: An Institutional Primer on EMU and EU Relations," IMF Working Papers 1998/082, International Monetary Fund.
    5. 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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    Cited by:

    1. Ari, Ali, 2006. "L’Adhésion de la Turquie à l’Union Européenne: Une Evaluation Macroéconomique dans la Perspective des Critères de Copenhague [The Turkish Membership to the EU: A Macroeconomic Evaluation in the Per," MPRA Paper 25859, University Library of Munich, Germany.
    2. Aykut Kibritcioglu, 2005. "On the Effects of the Introduction of Euro on Turkish Economy [in Turkish]," International Trade 0505006, University Library of Munich, Germany.

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    More about this item

    Keywords

    European Union; Economic and Monetary Union; Euro; EU enlargement; Turkey; Central and Eastern European Countries; Cyprus;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F49 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Other

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