Central Europe and European monetary integration: a strategy for catching up

Friedrich Heinemann

No 94-21, ZEW Discussion Papers from ZEW - Leibniz Centre for European Economic Research

Abstract: The Maastricht Treaty has augmented the preconditions that have to be fulfilled by ED applicants before a full membership can be achieved. Candidates have to prove that a participation in the European Monetary Union is a realistic possibility at least in the medium term. This paper explores the difficulties of the Visegrád countries to fulfill this monetary precondition. Apart from the convergence criteria, the cyclical correlation both within Central Europa and between Central and Western Europe is analysed. Based on that evidence, an early membership in the European Monetary System is proposed as an element of a promising EU membership strategy. Besides that, the potential role of a stabilization fund is discussed that could cushion asymmetric shocks hitting the Visegrád countries.

Date: 1994
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/29414/1/043546153.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zbw:zewdip:9421

Access Statistics for this paper

More papers in ZEW Discussion Papers from ZEW - Leibniz Centre for European Economic Research Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().