Privatization and European Economic and Monetary Union

Venilde Jeronimo (), Jose Pagan and Gokce Soydemir ()
Additional contact information
Venilde Jeronimo: Center for Internet Studies, University of Washington
Jose Pagan: University of Texas-Pan American

Eastern Economic Journal, 2000, vol. 26, issue 3, 321-333

Abstract: To qualify for full membership in the Economic and Monetary Union, member states had to meet strict budget deficit and government debt convergence criteria. This study analyzes whether deficits and indebtedness in the 1990s in Spain, Italy, Portugal and Greece were associated with a shift from privatization as a tool of economic restructuring, to privatization as a tool of European monetary convergence. The empirical results suggests that privatization funds accruing from the sale of state-owned enterprises in the Southern European countries might have been used to tackle budget deficits and meet the stringent criteria for monetary integration.

Keywords: Monetary Union; Privatization (search for similar items in EconPapers)
JEL-codes: F15 F36 L33 (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eej:eeconj:v:26:y:2000:i:3:p:321-333

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