An empirical estimation of Balassa – Samuelson Effect in case of Eastern European Countries
Cristian Paun ()
MPRA Paper from University Library of Munich, Germany
Integration into the European Monetary Union (EMU) and adoption of Euro became a specific objective for Eastern European Countries after their accession into the European Union. This objective implies specific nominal and real economic convergence for these countries within a given period of time (Copenhagen criteria). Nominal convergence measurement is based on well-defined system of economic indicators (Maastricht and Amsterdam criteria). Real convergence refers to real economic performance of a country and it is commonly associated with GDP growth rate and productivity level. From a broader perspective, real and nominal convergence could be seen as complementary. Tensions between real and nominal convergence are tested through Balassa – Samuelson Effect. In this paper it is analyzed the evolution of nominal and real convergence based on a proposed set of indicators and it is estimated Balassa-Samuelson Effect on non-Euro countries.
Keywords: EMU; Euro; Optimal Currency Area; Balassa Samuelson Effect (search for similar items in EconPapers)
JEL-codes: E42 F41 F33 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-fdg, nep-mac, nep-opm and nep-tra
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https://mpra.ub.uni-muenchen.de/31407/1/MPRA_paper_31407.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/40153/1/MPRA_paper_40153.pdf revised version (application/pdf)
Journal Article: An empirical estimation of Balassa-Samuelson Effect in case of Eastern European Countries (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:31407
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