Economic Convergence of the CEECs with the EU

Laurence Boone () and Mathilde Maurel

No 2018, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This paper tries to assess how costly it would be for the CEECs to peg their exchange rates to the Euro. We use three types of criteria: institutional (the Maastricht criteria); some measure of real convergence; and the Optimal Currency Area criteria. The institutional criteria seem to be an important impediment to an 'immediate' accession. There is also a lot more to do in terms of real convergence. Finally, the correlations of industrial production and unemployment cycles in the CEECs and the EU, or other reference countries, such as Germany, Greece, France and Portugal point towards a deeper integration of the CEECs with Germany than with the EU. This reflects the old ties Germany had and still has with Eastern countries and the likely key role Germany is going to play in the process of EU enlargement to Eastern Europe.

Keywords: eastern enlargement; Economic Convergence; Optimal Currency Area (search for similar items in EconPapers)
JEL-codes: E32 F3 F42 (search for similar items in EconPapers)
Date: 1998-11
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (42)

Downloads: (external link)
http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=2018 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

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:cpr:ceprdp:2018

Ordering information: This working paper can be ordered from
http://www.cepr.org/ ... ers/dp.php?dpno=2018

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().