Theoretical and Applied Economics
No. 4 / 2019 (621), Winter
Expanding the Eurozone. The stage of economic convergence for Bulgaria, Czech Republic, Croatia, Hungary, Poland and Romania
“Costin C. Kiriţescu” National Institute for Economic Research, Romanian Academy, Romania
Abstract. Before the economic crisis started in 2009, joining the Eurozone was mainly conditioned by meeting the nominal convergence criteria. Because of the problems faced by the Eurozone member states during the crisis, the European institutions implemented a series of measures aimed at increasing the resilience of the Eurozone, and thus the conditions for new candidates became more and more difficult. Gradually, they imposed conditions related to reaching a high level of real convergence, maintaining macroeconomic balance, and, more recently, joining the Banking Union, at the same time as joining the Exchange Rate Mechanism II. The sustainability of the nominal convergence criteria depends on a high level of real convergence and on sound macroeconomic indicators that would not generate macroeconomic imbalance. Based on the above, this paper touches on these aspects for the following six European Union member states, which stand to adopt the euro: Bulgaria, Czech Republic, Croatia, Hungary, Poland and Romania.
Contents
Expanding the Eurozone. The stage of economic convergence for Bulgaria, Czech Republic, Croatia, Hungary, Poland and Romania
Business R&D investments in the EU: Main dynamics and economic effects
Volatility experience of major world stock markets
Unemployment hysteresis analysis for OECD countries
Culture as a driving factor for foreign direct investments in the Western Development Region of Romania
A Deep Neural Network (DNN) based classification model in application to loan default prediction
The new Keynesian Phillips Curve. Implications. Strengths and weaknesses
Corporate ownership structure and performance: An enquiry into India
Turkey’s macroeconomic policy challenges in the aftermath of the 2018 crisis: A sectoral financial balances analysis
Main aspects on the nature of dynamic models
An analyses model of the Romanian privately managed pension system
Dynamic models used in analysis capital and population
Poverty rate determinants in the Central and Eastern Europe member states
Wagner versus Keynesian Hypothesis: Role of aggregate and disaggregate expenditure in Pakistan
GARCH based VaR estimation: An empirical evidence from BRICS stock markets
Does FDI substitute exports of home country? A case of US FDI in select Asian economies
Exploring the role of institutions in cross country Malmquist productivity analysis: A two-stage double bootstrap DEA approach
Does the Mundell-Fleming Model apply to Poland?
The validity of Okun’s Law: Evidences from Indian economy