THE LABOUR PRODUCTIVITY-AN IMPORTANT CRITERION OF REAL CONVERGENCE IN THE PROCESS OF ADOPTING THE EURO CURRENCY. A CASE STUDY ON ROMANIA'S LABOUR MARKET

(Scutelnicu) Mina Raluca Ratiu
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(Scutelnicu) Mina Raluca Ratiu: Babes-Bolyai University, Cluj-Napoca, Romania

Revista Economica, 2019, vol. 71, issue 3, 91-103

Abstract: In the context of a new deadline for the euro adoption, 2024, the purpose of this paper is to highlight how important is the labour productivity as a criterion of real convergence. Unlike the well-defined nominal convergence criteria, there are some indicators such as GDP/capita, the productivity and the cost of labour, the openness of the economy that best define how close to the rest of the states of the European Union and the Euro-zone is the economy of a country in terms of the standard of living, the competitiveness and the efficiency of the economy as a whole.

Keywords: Euro-zone; nominal and real convergence criteria; the labour productivity; euro currency (search for similar items in EconPapers)
JEL-codes: E50 E52 J01 J24 (search for similar items in EconPapers)
Date: 2019
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