The Inflation and Exchange Rate in the Five Balkan Countries from Maastricht Convergence Criteria Prospect

Vlastimir Vukovic () and Aleksandar Zdravkovic ()
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Vlastimir Vukovic: Institute of Economic Sciences
Aleksandar Zdravkovic: Institute of Economic Sciences

Chapter 3 in Contemporary Issues in the Integration Processes of Western Balkan Countries in the European Union, 2011, pp 38-55 from Institute of Economic Sciences

Abstract: In the focus of this research of the inflation and exchange rate from the Maastricht convergence criteria prospect are five Balkan countries, former Yugoslav republics: Bosnia and Herzegovina, Croatia, Macedonia, Montenegro and Serbia. Comparative analysis of the price and exchange rate stability in these countries was done by comparing to the EU average and certain Member States from Central, Eastern and Southeastern Europe (CESE). The basic goal was to determine the degree of nominal convergence, disregarding the fact that Maastricht convergence criteria are not the conditions for getting the status of the EU Member State, but for joining Economic and Monetary Union (EMU), or Euro zone. The subjects of the research were also the determinants of the price and exchange rate stability in this group of countries, and especially monetary policy strategy. Corresponding recommendations were given at the end to the analyzed countries and European Central Bank (ECB).

Keywords: Transition economies; Balkan; inflation; exchange rate; Maastricht convergence criteria; monetary policy; dollarization (search for similar items in EconPapers)
Date: 2011
ISBN: 978-961-93203-0-3
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