EU Enlargement and Monetary Regimes from the Insurance Model Perspectives

Nikolay Nenovsky ()

No wp997, William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan

Abstract: Some ten years ago, Michael Dooley (Dooley, 1997; Dooley, 2000) put forward an insurance model of currency crises, which after some modifications gives a good theoretical basis for explanation of the overall dynamics of the post communist transformation and diversity across countries and periods. The article analyses, within the framework of the insurance model, the role of monetary regimes (currency anchor) and EU enlargement (political and geostrategic anchor) and their relationships. The insurance game model not only contains an explanatory power, but it also has the potential to suggest a range of measures that could be useful in overcoming the "bad" dynamics, which we are witnessing today not only in the new member-states, but also EU-wide.

Keywords: post communist transformation; monetary regimes; insurance model of currency crisis (search for similar items in EconPapers)
JEL-codes: F33 F36 P20 P30 (search for similar items in EconPapers)
Pages: pages
Date: 2010-06-01
New Economics Papers: this item is included in nep-eec, nep-ias and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Journal Article: EU enlargement and monetary regimes from the insurance model perspective (2011)
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