ROMANIA ON THE WAY OF EURO ADOPTION

Ionut Dumitru () and Ionela Jianu (Dumitru)
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Ionela Jianu (Dumitru): Bucharest University of Economic Studies

Theoretical and Applied Economics, 2013, vol. XX, issue Special I, 431-443

Abstract: Based on optimal currency area (OCA) criteria, this paper is assessing the real convergence process in Romania from the Euro adoption perspective. Our findings suggest that the correlation of the business cycle in the case of Romania is one of the lowest among NMS, and the demand shocks are still negatively correlated with Eurozone for some NMS, including Romania. The main conclusion of our paper is the fact that Romania still needs time to progress on the real convergence criteria in order to adopt Euro without major costs.

Keywords: OCA; output gap; business cycle synchronization; Euro adoption; convergence. (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:xx:y:2013:i:special-i:p:431-443

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