Macroeconomic Effects of Serbia’s Integration in the EU and the Euro Area
Reinhard Neck and
Klaus Weyerstrass ()
International Advances in Economic Research, 2019, vol. 25, issue 3, No 3, 277-292
Abstract In 2009, Serbia officially applied for European Union (EU) membership. In 2014, membership negotiations began. After joining the EU, Serbia will have to adopt the euro as legal tender as soon as it fulfils the relevant Maastricht criteria. So far, the quantitative consequences of such changes in the institutional framework on the macroeconomy and the major objective variables of Serbia (or another West Balkan country) have not been analyzed. In this paper, we examine likely macroeconomic effects from Serbia’s membership in the EU and the Euro Area by means of simulations with a macroeconometric model of the Serbian economy. We show that EU accession and the introduction of the euro bring about higher real gross domestic product, more employment, and more sustainable public finances. The benefits of joining the Euro Area are mainly due to increases in productivity.
Keywords: Serbia; EU; Euro Area; Open economy macroeconomics; Econometric model; E17; O52; E52; E62 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s11294-019-09748-1 Abstract (text/html)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:kap:iaecre:v:25:y:2019:i:3:d:10.1007_s11294-019-09748-1
Ordering information: This journal article can be ordered from
Access Statistics for this article
International Advances in Economic Research is currently edited by Katherine S. Virgo
More articles in International Advances in Economic Research from Springer, International Atlantic Economic Society Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().