EconPapers    
Economics at your fingertips  
 

The Path to Euro Adoption: a Case Study of Slovenia and Slovakia

Dorina Clichici ()
Additional contact information
Dorina Clichici: Economic Integration and Financial Markets Department, Institute for World Economy, Romanian Academy

Global Economic Observer, 2021, vol. 9, issue 1, 107-115

Abstract: By the terms of their treaties of accession, the financial integration and the adoption of the euro became binding on all new Member States of the European Union. Once they meet the convergence criteria and ensure their laws are compatible with the euro area, they are legally obliged to adopt the euro. This paper aims to track the integration path into the euro area of Slovenia and Slovakia, and to find out the main lessons from these stories. The results revealed that the process of adopting the euro in both countries has been very smooth and rapid, due to a general political and public consensus driven by an efficient communication strategy. Thanks to the emphasis on macroeconomic stability throughout the pre-accession period and due to clear economic policy priorities, Slovenia managed to remedy the economic imbalances and to meet the nominal convergence criteria. In the same time, fundamental institutional reforms and foreign direct investment have allowed Slovakia to adopt an export-oriented growth model that made this country one of the most notable examples of the catching-up process in recent decades.

Keywords: Euro adoption; Slovenia; Slovakia; big-bang scenario; dual circulation; nominal convergence; real convergence (search for similar items in EconPapers)
JEL-codes: E30 E58 E61 F15 (search for similar items in EconPapers)
Date: 2021-06
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.globeco.ro/wp-content/uploads/vol/split ... vol9_no1_art_012.pdf First version, 2021 (application/pdf)

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:ntu:ntugeo:vol9-iss1-107-115

Access Statistics for this article

Global Economic Observer is currently edited by Serghei Margulescu and Simona Moagar-Poladian

More articles in Global Economic Observer from "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences Contact information at EDIRC., Institute for World Economy of the Romanian Academy
Bibliographic data for series maintained by Stefan Ciucu ().

 
Page updated 2023-11-11
Handle: RePEc:ntu:ntugeo:vol9-iss1-107-115