Estoniaís Accession to the EMU

Mart Sırg ()
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Mart Sırg: Institute of Finance and Accounting, University of Tartu

No 133, Working Papers from Tallinn School of Economics and Business Administration, Tallinn University of Technology

Abstract: CEE countries have passed the process of transition to market economy and eight of them, including Estonia, joined the European Union in 2004. Estonia has been very successful in the transition process, mainly owing to the currency board-based monetary system, which serves as a signal of commitment to prudent monetary policy and as a guarantee of sound money during the transition period. The current paper discusses the thirteen years of experience in operating the currency board-based monetary system in Estonia. Estoniaís accession to the European Union will soon be accompanied by membership of the Economic and Monetary Union (EMU). Here it is also explained why Estonia wants to join the EMU as fast as possible and what the prospects are to do it on time, at the beginning of 2007.

Keywords: monetary systems; monetary policy; Economic and Monetary Union (search for similar items in EconPapers)
JEL-codes: E42 E5 F33 (search for similar items in EconPapers)
Pages: 16
Date: 2005
New Economics Papers: this item is included in nep-cba, nep-eec, nep-mac, nep-mon and nep-tra
Note: Financial support from the Estonian Science Foundation (project 5306) is greatly acknowledged.
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Published in Working Papers in Economics, School of Economics and Business Administration,Tallinn University of Technology (TUTWPE), Volume 17, Pages 5-20

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