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Ten years in Economic and Monetary Union: Malta’s experience

Rita Schembri ()

No PP/02/2018, CBM Policy Papers from Central Bank of Malta

Abstract: This note compares Malta’s economic performance after it adopted the euro in 2008 with developments in earlier years. It also examines how the Maltese economy’s performance in relation to the euro area changed over time, with reference to selected macroeconomic indicators. The note documents how Malta transitioned from an average, or below-average performer, to one of the best performers in the euro area in economic terms. It also tries to draw some lessons based on Malta’s first ten years as a euro area Member State. It concludes that in Malta's case, participation in Economic and Monetary Union has been an enabling factor for economic growth. However, the absence of major financial and fiscal shocks that characterised several other countries in the euro area, as well as structural reforms aimed at enhancing the economy's efficiency and resilience to shocks through diversification were also important.

JEL-codes: F42 F43 F45 (search for similar items in EconPapers)
Pages: 21 pgs
New Economics Papers: this item is included in nep-eec
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https://www.centralbankmalta.org/file.aspx?f=72251 First version, 2018 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:mlt:ppaper:0218

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