AN EMPIRICAL ASSESSMENT OF THE OPTIMUM CURRENCY AREAS THEORY: TURKEY AND THE EMU COUNTRIES

I. Ozer and I. Ozkan
Additional contact information
I. Ozkan: Hacettepe University

Fuzzy Economic Review, 2008, vol. XIII, issue 1, 3-18

Abstract: This study aims to analyze Turkey and the EMU countries in the light of criteria suggested by the optimum currency areas (OCA) theory and the Maastricht criteria. To this end, we follow a novel approach with an application of fuzzy c-means (FCM) clustering. The results show that the application of FCM clustering to the OCA criteria produces better clustering structure compared to the Maastricht criteria. In addition, in the analysis with the Maastricht criteria, the control group countries, Canada and Japan, are not distinguished from the European countries. Furthermore, Turkey remains as a separate group than the European countries with respect to both the OCA criteria and the Maastricht criteria.

Keywords: optimum currency areas; fuzzy c-means clustering; EMU; Maastricht criteria (search for similar items in EconPapers)
JEL-codes: E5 F15 (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fzy:fuzeco:v:xiii:y:2008:i:1:p:3-18

Access Statistics for this article

More articles in Fuzzy Economic Review from International Association for Fuzzy-set Management and Economy (SIGEF) Contact information at EDIRC.
Bibliographic data for series maintained by Aurelio Fernandez ( this e-mail address is bad, please contact ).