EMU and Accession Countries: Fuzzy Cluster Analysis of Membership

Dmitri Boreiko ()

Working Papers Central Bank of Chile from Central Bank of Chile

Abstract: This paper estimates the readiness of the Accession Countries of Central and East Europe for EMU or for unilateral euroisation using a fuzzy clustering algorithm. The variables to which the algorithm is applied are suggested alternately by the criteria in the Maastricht Treaty (nominal convergence) and by Optimum Currency Area theory (real convergence). The algorithm reveals that Estonia and Slovenia are the leaders in both nominal and real convergence, whereas the other countries from the 1998 Accession Wave have achieved substantial results only in real convergence. Moreover, Poland is excluded from the leading group in the most recent years due to its worsened economic performance.

Date: 2002-10
New Economics Papers: this item is included in nep-eec, nep-mon and nep-net
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Citations: View citations in EconPapers (34)

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Related works:
Journal Article: EMU and accession countries: Fuzzy cluster analysis of membership (2003)
Working Paper: EMU and Accession Countries: Fuzzy Cluster Analysis of Membership (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:chb:bcchwp:189

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