THE CONVERGENCE OF EURO AREA COUNTRIES IN TERMS OF OPTIMUM CURRENCY AREA THEORY

Cristina Puiu

Revista Economica, 2012, vol. Supplement, issue 1, 695-704

Abstract: The aim of this paper is to analyze whether the Euro zone is an optimal currency area. The analysis takes into consideration the existing literature and the empirical data for several criteria of the optimum currency area theory. Since the introduction of the euro there have been significant advancements in fulfilling some of the criteria, but there is still a need of further progress in terms of labour mobility, financial, fiscal and political integration. The final conclusion is that Euro zone is not an optimum currency area.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:blg:reveco:v:supplement:y:2012:i:1:p:695-704

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