ROMANIA'S REAL CONVERGENCE TO THE EUROPEAN UNION

DragoÅŸ Mihai Ungureanu, Ruxandra Vilag, George Horia Ionescu and Florian Bogdan Stoian

Annales Universitatis Apulensis Series Oeconomica, 2009, vol. 2, issue 11, 14

Abstract: In the process of European integration, switching in 1999 to the third stage of Economic and Monetary Union, has intensified the need to coordinate economic and sectoral policies of the Member States. The process of coordination is necessary to harmonize national economic policy objectives in order to minimize the negative impact of economic policy measures taken by some member countries to other member countries and reduce the temptation for Member States to have behavior riders. Real Convergence is an essential goal of Romanian integration into the European Union. Attenuation of the development gaps maintained between Romania and the EU can not be achieved solely through the use of market forces. Economic transformations occurring globally and increased risk aversion contributed to a signifiant reduction of capital flows to Romania, increased pressures upon exchange rate.

Keywords: Real convergence; nominal convergence; integration; European Union (search for similar items in EconPapers)
JEL-codes: F33 F36 O52 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:alu:journl:v:2:y:2009:i:11:p:14

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