Download or read book On the Way of EMU Enlargement Towards CEECs written by Mathilde Maurel and published by . This book was released on 2002 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Aspects of Enlargement Central and Eastern Europe EMU and the ERM 2 written by Ulrich Machold and published by GRIN Verlag. This book was released on 2008 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2002 in the subject Economics - Monetary theory and policy, grade: 1.0 (A), Technical University of Berlin (-), 54 entries in the bibliography, language: English, abstract: A rough 50 years after its foundation, the European Union (EU) is preparing for the probably most ambitious challenge of its existence, the binding-back into the West of the once centrally-planned economies of Central and Eastern Europe (CEEC). Together with political and general economic efforts, European monetary integration also gains speed with as many as twelve CEEC queuing up for entry into the EU (not including Turkey, which has not yet officially begun entry negotiations), the first of them most likely joining the Union already two years after the physical introduction of the single currency, i.e. in 2004. Many of these countries are eager to also join Monetary Union (EMU) and show their ability to be ′good Europeans′ by adopting the Euro as soon as possible. Various statements by both CEEC-government officials and monetary authorities exemplify this very vividly. This implies that the enlargement of EMU is already a relevant issue. By the time it becomes acute, positions and perspectives of both applicants and current members should be clear, if unnecessary delays and political irritations are to be avoided. The body of literature on the subject is thus as large as the questions of when, how and on what terms CEEC-accession will take place are pressing, and becoming more so as time progresses. This study attempts to coherently examine the core issues related to EMU-enlargement, equally synthesising the various segmented approaches of the academic debate, and deduce normative conclusions as to what strategic outlook should seem appropriate to both CEEC and the current EMU-12: In what timeframe should accession most sensibly take place? How appropriate are the mechanics leading up to EMU, most prominently the Exchange Rate Mechanism (ERM-II) and the Maastr
Download or read book Emu Enlargement Towards Ceec S written by Jérôme Trotignon and published by . This book was released on 2010 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: The future membership of CEECs in the eurozone involves the risk of external asymmetric shocks, due to too strong a dependence on one sector or one customer country. By defining two indicators - sector-based and geographic - of exposure to shocks, taking into account the symmetry of the export structures of a candidate state with the EMU and the opening rate of the candidate state, we are able to draw up a classification of countries according to the fulfillment of Kenen's criterion, revised and transposed to the geographic variety of exports. The results, compared with those of the two countries of the EMU which are most sensitive to sector-based and geographic shocks (Finland and Ireland), testify to a generally pronounced exposure to shocks. An inventory of the pairs country/branch and country/destination at the origin of shocks with strong macroeconomic impact shows that Bulgaria and Slovakia, and even more Estonia and Latvia, are exposed to major risks. Thus, these two small economies would be well advised to create a cyclical stabilization fund before envisaging joining the EMU. Against the thesis of the endogeneity of the OCAs (optimum currency areas), this recommendation remains valid, insofar as the increase in the share of intra-industry trade between the EMU and a candidate state does not necessarily entail a convergence of multilateral sector-based export structures.
Download or read book An Optimal Currency Area Perspective of the EU Enlargement to the CEECs written by Laurence Boone and published by . This book was released on 1999 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Constructing the Path to Eastern Enlargement written by Ulrich Sedelmeier and published by Manchester University Press. This book was released on 2005 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on explaining why the EU agreed to eastern enlargement and the (uneven) pattern of accommodation of the applicants' preferences in substantive policies.
Download or read book Turkey written by Bernard M. Hoekman and published by World Bank Publications. This book was released on 2005-06-20 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: What requirements must Turkey the largest country among the candidate and accession countries meet to join the European Union? What progress has been made toward meeting them? This timely volume analyzes the economic challenges confronting Turkey in its quest to accede to the European Union (EU). It focuses on the extent to which Turkey is ready to join the Single Market, comply with the EU's body of economic regulations and directives, the 'Acquis Communautaire', and meet the Maastricht criteria for fiscal, monetary, and exchange rate policies. This book also provides an assessment of Turkey's national program to meet the accession requirements. It describes briefly what Turkey needs to achieve on the economic policy front to satisfy the conditions for accession, the progress to date, and the likely consequences of implementing the full body of EU requirements. The book is divided into four parts: An analysis of the macroeconomic policies for EU accession An analysis of the effects of integration on key sectors: agriculture; manufacturing; services industries, including banking, telecommunications, transportation, and natural gas; and network industries An exploration of key economic policy challenges, including labor market regulation, foreign direct investment challenges, and the costs and benefits of meeting the EU environmental 'Acquis' The quantification of the impact of EU accession and consideration of the welfare effects of integration While the focus is on the specific situation of Turkey, the subject will be of value to all researchers with an interest in the challenges of deeper integration through regional agreements.
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 The Economic and Business Consequences of the EMU written by Hubert Ooghe and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economic and Business Consequences of the EMU A Challenge for Governments, Financial Institutions and Firms Hubert Ooghe Conference Chairman, Vlerick Leuven Gent Management School alld Ghent University EMU finally got under way on 1 st January 1999. Since then 11 European countries share a common currency, the Euro, and pursue a common monetary policy managed by the European Central Bank (ECB). After forty years of economic integration, Euroland has the wherewithal with which to enter the 21 st century. However monetary union has implications for nearly all areas of economic activity and decision-making. Throughout the academic world researchers are fully occupied with the theoretical analysis of the impact of the Euro and the effects of incorporating the new operational framework into their economic models. Businesses and government departments are concerned primarily with the practical implementation of the single currency. For all those who playa part in the economy, it is a question of making the most of the macro and micro economic opportunities offered by the Euro and minimising any threats. On 17th and 18th March 2000, after the EMU and Euro were in operation for one year, an international conference was held in Ghent (Belgium) on the economic consequences of the introduction of the EMU and the Euro for governments, financial institutions and firms.
Download or read book A Strategy for EMU Enlargement written by Marek Dabrowski and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper summarizes the results of CASE's research project on 'Strategies for Joining the EMU' and proposes policy recommendations both for new member states (on how to manage their accession to the Eurozone) and for the European Commission, ECB and old member states (on how to manage and absorb EMU enlargement in an optimal way). Both the economic and the political economy arguments point to fast EMU accession of NMS. Looking at the 'classical' optimum currency area criteria, i.e. trade integration, co-movement of business cycles and actual factor mobility, NMS' record is not worse, on average, than that of the current Eurozone members, and should further improve before Eurozone entry, decreasing risk of their exposure to idiosyncratic shocks. After joining the EMU, the common currency should help NMS to develop additional intra-EMU trade links, further synchronize business cycle and increase factor mobility. Both theoretical arguments and empirical experience demonstrates that so-called real convergence accompanies nominal convergence, and that there is synergy rather than a trade-off between the two. The credibility of the Euro and price stability in the Eurozone will not be threatened by fast EMU Enlargement. Neither can the accession of fast growing NMS create an additional 'recessionary' impact on slow growing incumbent members. The biggest challenge for the common currency in the medium to long run may come from widespread breaches of EU fiscal rules. So the incumbents should replace their 'don't rush' advice by active encouragement of NMS to proceed with fast nominal convergence in order to meet the Maastricht criteria and join the EMU as quickly as possible.
Download or read book The European Central Bank written by Jakob De Haan and published by MIT Press. This book was released on 2005-04-15 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: An examination of the debates on European Central Bank monetary policy, focusing on issues of transparency, credibility, and accountability and the effect of the ECB's decentralized structure. The adoption of the euro in 1999 by 11 member states of the European Union created a single currency area second in economic size only to the United States. The euro zone's monetary policy is now set by the European Central Bank (ECB) and its Governing Council rather than by individual national central banks. This CESifo volume examines issues that have arisen in the first years of ECB monetary policy and analyzes the effect that current ECB policy strategy and structures may have in the future. After a detailed description and assessment of ECB monetary policy making that focuses on such issues as price stability and the predictability of policy decisions, the book turns to two important issues faced by European central bankers: the transparency and credibility of decision making and the ECB's decentralized structure. After showing that transparency in decision making enhances credibility, the book discusses the ECB's efforts at openness, its political independence as guaranteed by law, and its ultimate accountability. The book then considers the effects of the decentralized ECB structure, focusing on business cycle synchronization, inflation differentials, and differences in monetary policy transmission in light of the enlargement of the monetary union. The book also discusses options for ECB institutional reforms, including centralization, vote weighting, and cross-border regional banks.
Download or read book The Enlargement and Integration of the European Union written by David Clark and published by Routledge. This book was released on 2006-09-07 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study addresses many of the key issues raised by the increasing expansion of the EU. Analysing the traditional 'Community method' of espansion and finding many shortcomings with its ability to handle future enlargement, Chris Preston explores: * the past experience of enlargement and the lessons that can be drawn * the impact that enlargement has had on EU policies, institutions and the new member themselves * the likely future developments in the enlargement process Focusing on the Mediterranean, Central and Eastern Europe and the former Soviet countries, this book will be essential reading for students, specialists and practitioners of European Politics.
Download or read book Integration Accession and Expansion written by Ray Barrell and published by . This book was released on 2004 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book EMU Enlargement to the East and the West written by Zsolt DARVAS and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Poland and the Eurozone written by J. Hölscher and published by Springer. This book was released on 2014-10-21 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: Poland is one of Europe's economic out-performers. The country's history and geography encourage it to be in favour of deeper European integration. This book aims to contribute to discussions on the future shape of EMU and the next steps ahead.
Download or read book Assessing the Advantages of EMU Enlargement for the EU and the Accession Countries written by Rainer Schweickert and published by . This book was released on 2001 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Wider Europe written by Michael J. Baun and published by Rowman & Littlefield Publishers. This book was released on 2000-08-02 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: This clear and engaging text examines the process and politics of the European UnionOs OEasternO enlargement, beginning with its initial response to the 1989 revolution up through the Helsinki summit decisions of December 1999. Michael Baun explores such topics as the EUOs original decision to enlarge, the pre-accession strategy for prospective members, the key political decisions on launching and expanding the accession negotiations, and the actual progress of the negotiations. He also examines the EUOs efforts to reform its policies and institutions in advance of enlargement. Throughout, Baun weaves in understandable explanations of the complex multilevel process of EU decisionmaking. He concludes by considering the limits of enlargement and its consequences for the EUOs future development.
Download or read book Enlargement Integration in the European Union written by Christopher Preston and published by Psychology Press. This book was released on 1997 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: This accessible book examines the ways in which the European community will have to adapt to cope with a potential influx of new members into the next millenium. It will be essential reading for students and practitioners of European politics.
