Enlargement and Eurozone: Convergence or Divergence

Minoas Koukouritakis () and Leo Michelis

No 504, Working Papers from University of Crete, Department of Economics

Abstract: This paper investigates empirically the extent to which the ten new countries of the recent EU enlargement are ready to join the European Monetary Union (EMU). We assess the prospects of successful accession into the EMU using cointegration and common trends analysis on the nominal convergence criteria specified by the Maastricht Treaty as well as on real exchange rates and real per capita GDPs. The empirical results indicate that the enlargement countries are partially ready to join the Eurozone, and need further adjustments in their government policies to be fully prepared for joining the EMU.

Keywords: Economic Integration; EU Enlargement; Cointegration; Common Trends. (search for similar items in EconPapers)
JEL-codes: F15 F33 F42 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2005
New Economics Papers: this item is included in nep-eec
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://economics.soc.uoc.gr/wpa/docs/Koukouritakis_Michelis.pdf First version (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:crt:wpaper:0504

Access Statistics for this paper

More papers in Working Papers from University of Crete, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Kostis Pigounakis ().