EMU and the Cohesion Process

F. Barry

Working Papers from College Dublin, Department of Political Economy-

Abstract: This paper studies the impact of economic and monetary union on the cohesion process, and specifically on the four cohesion countries - Greece, Spain, Portugal and Ireland. Trade integration, or economic union, is judged likely to promote cohesion. Monetary union has more ambiguous effects. The cohesion countries stand to gain more than the core in terms of real interest rate reductions, macroeconomic stability and development of the financial system.

Keywords: MONETARY AREAS; EUROPE; TRADE (search for similar items in EconPapers)
JEL-codes: F15 F36 (search for similar items in EconPapers)
Pages: 18 pages
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:fth:dublec:98/11

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