Download or read book Eurozone Enlargement written by Michael Bolle and published by . This book was released on 2003 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Summary Report reflects outcomes of the research project "The Eastward Enlargement of the Eurozone (Ezoneplus)" that has analysed these challenges with particular emphasis on monetary and fiscal policies, on exchange-rate regimes and on the social dimension of the EMU enlargement process. It will be shown that structural asymmetries in an enlarged currency union will only slowly proceed towards a convergence of welfare states across EU-25. The pace of this process depends largely on the willingness and capability of political decision-makers at all levels to coordinate the policies in question.
Download or read book The Eurozone Enlargement written by Yoji Koyama and published by Nova Science Publishers. This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In May 2004, eight countries of Central and Eastern Europe were admitted to the European Union (EU). In January 2007, Romania and Bulgaria, and in July 2013, Croatia were admitted to the EU. These new EU member states (NMS) are not given the right to opt out as the UK and Denmark have, and they are obligated to adopt the Euro. Among eleven new member states, five countries adopted the euro: first Slovenia (2007), followed by Slovakia (2009), Estonia (2011), Latvia (2014) and Lithuania (2015). This book considers the problems of the Eurozone Enlargement by reviewing the experiences of NMS which have adopted the Euro and considering prospects of NMS which have not yet adopted the Euro. The book is divided into two parts. Part One mainly deals with NMS which have already adopted the Euro and takes a closer look at their experiences. Chapter One explains the evolution and the current situation of the EMU in order to get an overall picture of the Eurozone. Chapter Two discusses Slovenia's experiences of the euro adoption and its lessons. Chapter Three discusses the experiences of Slovakia which adopted the euro in January 2009 exhibiting, in contrast to Slovenia, a favorable performance. Although having seriously suffered from the 2008 global financial crisis, the Baltic States have recovered quickly. Chapter Four discusses what kind of lessons could be drawn from the experiences of the Eurozone NMS, focusing on Latvia and Slovakia. Part Two deals with the NMS which have not adopted the Euro yet, but are expected to. Chapter Five not only discusses Poland's prospects for Euro adoption but also serves as an introduction to Part Two as a whole. It deals with not only the criteria which should be met by prospective Eurozone member NMS (i.e. explicit Maastricht convergence criteria), but also the criteria of implicit and substantial convergence (i.e. The Czech Republic and Slovakia maintaining close economic relations in spite of their separation in 1993). Slovakia adopted the Euro in January 2009 while the Czech Republic has not yet adopted it. Chapter Six discusses the current situation and challenges of the Czech Republic in comparison with Slovakia. Chapter Seven analyses the Hungarian situation both from a perspective of a comparison with other CEE countries, and from a historical perspective of its long-term transition process. Chapter Eight considers challenges facing Croatia, which has an industrial structure quite similar to Greece. Among prospective Eurozone member states, Romania is the only one country which has its target date for Euro-adoption of January 1, 2019. Chapter Nine considers Romania's current situation and its challenges. Chapter Ten discusses challenges facing Bulgaria, which has maintained the currency board system. Although the Western Balkan countries are not discussed directly, this book has important implications for them. The authors of the book include five economists from Central Eastern Europe and three economists from Japan. This book is a product of international academic cooperation between Europe and Asia.
Download or read book The Eastern Enlargement of the Eurozone written by Marek Dabrowski and published by Springer Science & Business Media. This book was released on 2006-07-01 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Eastern Enlargement of the EU will not be complete until the new member states join the EMU. Economic and political economy arguments point to fast EMU accession of new member states. Failure to do so will create a two speed Europe, a fundamental change in the economic and political architecture of the EU, adding to the strains already evident between core and peripheral countries. Current high level of trade and business cycle integration of new member states with the Eurozone, decreases the probability of asymmetric shocks. Lower transaction costs, elimination of exchange rate risk and the danger of currency crises, further trade and investment creation, lower interest rates and large fiscal gains, should outweigh the loss of the exchange rate as adjustment tool. The Eastern Enlargement of the Eurozone provides comprehensive economic analysis of theoretical, empirical and political issues that will determine whether EMU enlargement is a success, which has implications for all common currency systems.
Download or read book Enlarging the Euro Area written by Kenneth Dyson and published by OUP Oxford. This book was released on 2006-11-02 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book seeks to offer the first in-depth and systematic analysis of the challenges of the Euro Area and the eastward enlargement of the European Union. It focuses in particular on how the prolonged process of accession to the Euro Area is affecting domestic economic policies in the accession states of east central Europe. It contributes to Europeanization studies, comparative political economy and to studies of Economic and Monetary Union. It also provides a picture of processes of domestic transformation in such countries as the three Baltic States, Bulgaria, the Czech Republic, Hungary, Poland and Romania. The book brings together a range of recognized experts from across Europe and combines country and sectoral case studies with a thematic treatment. It begins by offering an 'outside-in' perspective, which situates the effects of EMU on the accession states in the wider context of the development of global economic norms. The second part focuses on an 'inside-out' analysis of how Euro Area accession affects the states of east central Europe - their policies, politics and public institutions. The final part assesses how Euro Area accession is affecting key policy sectors in east central Europe: financial market regulation, fiscal policies and welfare states and labour markets.
Download or read book New Political Economy of Exchange Rate Policies and the Enlargement of the Eurozone written by Christian H. Fahrholz and published by Springer Science & Business Media. This book was released on 2006-11-17 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work examines the political economy of exchange-rate policies in the eastward expansion of the eurozone. Analysis shows that prospective members of the EMU are likely to pass on some costs of convergence to the current EMU members. The mechanism is an altered exchange-rate policy that utilizes a "threaten-thy-neighbour" strategy. This could ensure a stabilization of the CEECs' convergence toward the EMU, and a successful eastward enlargement of the eurozone.
Download or read book Adjusting to EU Enlargement written by Constantine A. Stephanou and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Before the latest EU enlargement substantial changes in the integration process were predicted as a result of the accession of 10 new member states, with some forecasting cataclysmic consequences. This book, the first ex post assessment of EU enlargement, provides evidence to the contrary, while also providing examples in which the new members have been able to influence the EU policy output with their liberal attitudes on economic and social policy.
Download or read book EU Enlargement and its Macroeconomic Effects in Eastern Europe written by H. Gabrisch and published by Springer. This book was released on 1999-01-29 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: What will joining the EU mean for the new Eastern member states and their economies? This book offers a detailed study of the macroeconomic and structural adjustment burden. It envisages a real currency appreciation stemming from price convergence, capital inflows and weak structural change. The widespread belief that an Eastern enlargement of the Union would be overwhelmingly to the detriment of the present EU (budgetary costs, locational decisions, trade deficits) is rejected. The authors discuss the lack of competitiveness of Eastern countries and their need for structural adjustments (in the financial sector, in agriculture, and in manufacturing) in order for them to survive and thrive in their new economic environment.
Download or read book The ECB and Euro area Enlargement written by Helge Berger and published by International Monetary Fund. This book was released on 2002 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Euro Area Enlargement and Euro Adoption Strategies written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper discusses the risks and challenges faced by the new members on the road to the euro and the strategies for and timing of euro adoption. We investigate the real-nominal convergence nexus from the perspective of euro area entry. We argue that the initial level of economic development as measured by per capita income and the speed of real convergence have a bearing on the strategies to follow and on the timing of entry into euro area. This is because the lower is the per capita income, the larger is the price level gap to close and the greater is the danger of credit booms and overheating. We argue that inflation targeting with floating rates is better suited than hard pegs to manage the price level catching-up process. We suggest a modification in the Maastricht inflation criterion which as currently defined has lost its economic logic. -- euro area ; convergence ; exchange rate ; inflation
Download or read book The European Union Integration and Enlargement written by R. Daniel Kelemen and published by Routledge. This book was released on 2016-04-14 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores one of the central challenges facing the EU today – how to reconcile enlargement with the pursuit of a stronger and more effective European Union. While the relationship between widening and deepening has been recognized for years as one of the big questions in the field of European integration, existing theoretical and empirical analyses of this relationship suffer from a variety of shortcomings. This book brings together a group of EU scholars who significantly advance our understanding of the relationship between widening and deepening. The contributors challenge a variety of ‘common wisdoms’ concerning the relationship between widening and deepening and offer nuanced theoretical and empirical analysis of the relationship between these two vital dimensions of European integration. Collectively, the contributors to this volume offer the most comprehensive picture available to date of the multi-faceted relationship between widening and deepening. This book was published as a special issue of the Journal of European Public Policy.
Download or read book Europe after Enlargement written by Anders Aslund and published by Cambridge University Press. This book was released on 2007-03-19 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Where is Europe going? In this 2007 collection, several prominent European economists offer essays on the five big challenges to the development of the European Union (EU). Namely, the new European Constitution, European finances and the euro, the need to boost economic growth, competition in both new member states and countries further to the East, and the goal of forming a cooperative and productive relationship with countries on the European periphery. The book includes essays by Charles Wyplosz, who argues that enlargement and deepening are not substitutes but complements; Vito Tanzi who questions the Keynesian foundation of the Growth and Stability Pact; Daniel Gros, who criticises the achievements within the Lisbon Agenda, as well as essays by Anders Aslund, who claims that Russian and Ukrainian oligarchs differ little from US 'robber barons'. The final two chapters discuss the EU's European Neighbourhood Policy and long-term economic integration in Eurasia. Listed in the Economist Top 100 Books of 2007.
Download or read book The Euro written by Chris Mulhearn and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title provides a comprehensive overview of the development and design of the European Monetary Union, as well as an intriguing discussion of its prospects for future enlargement.
Download or read book Imperative of Economic Growth in the Eurozone Competitiveness Capital Flows and Structural Reforms written by Lubor Lacina and published by Vernon Press. This book was released on 2018-01-15 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: European economic recovery appears to be taking hold. So is the European crisis over? The acute phase of the crisis passed, however a number of medium and long term issues remain. The policies of “internal devaluations” are working, albeit slowly, to restore competitiveness in the countries most affected by the crisis. However, growth remains at best sluggish. The medium and long term outlook remains highly uncertain, fomenting social tensions and endangering political stability. The restoration of economic dynamism is increasingly perceived as the answer to the question of the “European” future – economically, politically and socially. There is a broad consensus that dynamic structural reforms and the restoration of competitiveness at the level of the global economy are key answers to current European challenges. However, whatever the form these may take, the transfer of resources is implicit (and seemingly necessary), to underpin the current structure of eurozone. This indeed raises the question of governance – both fiscal and monetary. After all, the provision of resources implies an allocation – and it is hard to imagine that resources will be provided to the common pool unless the providers have some say with respect to allocation. And that requires some form of common (i.e. centralized) decision-making procedures, in all likelihood exceeding the common understanding of the acquis communautaire as it exists today – i.e. some form of the effective political arrangement. In this context, the basic idea which connects all contributions in this volume is the analysis of the problems which affected the Eurozone in the past decade and the challenges and dilemmas the Eurozone will face in the coming years.
Download or read book The European Roots of the Eurozone Crisis written by Mario Baldassarri and published by Springer. This book was released on 2017-10-01 with total page 459 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the Eurozone crisis in light of theoretical and empirical evidence. The first half explores specific theoretical contributions within a framework of growth theory models to examine the two major pillars of the European construction, the European Central Bank and the Maastricht Treaty, and seeks to explain why they are theoretically wrong. The second half presents results of counterfactual simulations using the Oxford Econometric model and estimates what the Eurozone has lost in terms of economic and social cost from 2002 to 2014 as a consequence of the super-evaluation of the Euro and the Maastricht Treaty parameters being mistakenly fixed and pursued. Finally, the author supports the urgent need to refund the European Union, up-dating The Maastricht Treaty and the ECB statute to build three concentric circles: the USE (United States of Europe), the EU (European Union), the EAFTDA (Europe/Africa Free Trade and Development Area).
Download or read book Managing European Union Enlargement written by Helge Berger and published by . This book was released on 2004 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: In May 2004 the European Union will undergo the largest expansion in its history when ten countries -- Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia -- become members. The number of new members and their diversity make this "big bang" enlargement particularly challenging. Not only do these countries vary widely in language, culture, and geography, but also their per capita income is less than half that of existing members. EU officials believe that expanded integration will serve the EU's objectives of peace, stability, prosperity, and democracy; but the less abstract questions of costs and benefits of enlargement are more complex. Each of the chapters in this CESifo volume addresses a different aspect of EU expansion. The contributors, all leading international practitioners and scholars, consider such topics as the effect of euro zone expansion on European Central Bank monetary policy making; using the euro as an external anchor for a national currency; worker migration and income differentials; the Swiss experience with immigration policy in a direct democracy framework; detailed sector analysis using a computable general equilibrium model of the world economy; investment and job creation and destruction in incumbent member countries; and the asymmetric effects of enlargement on high- and low-income incumbent countries. Taken together, the chapters provide useful guidance in shaping the EU policies of the future.
Download or read book The Future of Europe written by Fraser Cameron and published by Psychology Press. This book was released on 2004 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the most detailed and up-to-date account of the state of the European Union on the eve of its biggest enlargement so far, and also considers its future prospects in several key areas.
Download or read book EMU and Enlargement written by Holger van Eden and published by . This book was released on 1999 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt:
