Articles on Issue Theme
Cristian PĂUN
Academia de Studii Economice din Bucureşti
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 closer look we can see that real and nominal convergence could be considered as being complementary. Tensions between real and nominal convergence are revealed 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.
ŒCONOMICA no. 1/2009
Keywords: nominal convergence, real convergence, euro adoption, European Monetary Union, Balassa - Samuelson Effect
JEL: E17, F36
An empirical estimation of Balassa-Samuelson Effect in case of Eastern European Countries
Select Issue:
Archive
Octavian-Dragomir JORA
Academia de Studii Economice din Bucureşti
Mara Andreea TUDOR
University of Chicago
Cătălin MURARAŞU
Academia de Studii Economice din Bucureşti
Ramona Iulia DIEACONESCU
Academia de Studii Economice din Bucureşti
Maria GHEORGHE (NIŢU)
Academia de Studii Economice din Bucureşti
Sorin-Nicolae CURCĂ
Academia Română
Revista ŒCONOMICA
Authors
