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Foreign trade and the theory of optimum currency areas. Implications for Poland

Iwona Maciejczyk-Bujnowicz
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Iwona Maciejczyk-Bujnowicz: University of Lodz

International Economics, 2016, issue 13, 5-26

Abstract: The paper focuses on one of the aspects of the OCA theory and on a new endogenous approach analysing mutual trade links of the countries in a common currency area. According to Kinnon (1963), a high degree of openness of the candidate countries is a precondition for establishing an OCA. Thus, the area can be created by countries with a high share of exports and imports in their GDP. The more open an economy, the higher the importance of the exchange rate for prices. We reviewed the literature on selected studies on the subject and analysed statistical data describing Poland’s trade in the years 2000–2010 with the euro area and EU member states outside of it.

Keywords: Optimal Currency Area Theory; export; import; Poland; European Union; currency exchange rate (search for similar items in EconPapers)
JEL-codes: F14 F15 F31 (search for similar items in EconPapers)
Date: 2016
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Handle: RePEc:ann:inecon:y:2016:i:13:p:5-26