Real Economic Convergence – an Important Criterion for Euro Adoption’s Schedule in Romania

Virginia Campeanu and Dana Ghitac

Knowledge Horizons - Economics, 2015, vol. 7, issue 2, 51-56

Abstract: There are historical gaps regarding economic and social development between the nucleus of old European Union members (EU-15) and the new Central and Eastern Europe (CEE) member states. As a result, one of the EU main objectives is to minimize the discrepancies between countries and to assure their harmonious development, a process known as real convergence, which is long and will take place gradually (as stipulated by the Maastricht Treaty). The purpose of this research report is to analyze the trend of economic gaps between Romania and the EU and to measure the speed of real convergence and dispersion of income per capita in Romania compared with EU average and other 5 CEE countries, outside the Euro Area: Bulgaria, Czech Republic, Croatia, Poland and Hungary. Results are based on dynamic comparative analysis of the level Indicators (GDP per capita) in Romania, the EU-28 average and each of other five CEE outside the Euro Area. We will use the output of our analysis to advance 2 probable variants of the euro adoption schedule in Romania, according with real economic convergence dynamic, and with the assumption that nominal convergence criteria are fulfilled in 2015.

Keywords: Real convergence; economic gaps; euro; EU; Romania (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:khe:journl:v:7:y:2015:i:2:p:51-56

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