transition countries. The paper is based on the idea that the process of convergence can, to a large extent, be viewed via … developments in real exchange rates. Key issues associated with real exchange rate developments in transition countries are defined … data since the outset of transition, though it has slowed in the past two years. Now it appears that the most economically …

other selected transition economies by applying the concept of the debt-adjusted real exchange rate (DARER), thereby … motivation for constructing DARER is the fact that many transition economies finance their long-term current account deficits … Czech Republic. Part six and annex 1 to this work contain empirical DARER results for selected transition countries …

transition. Emphasis is given to a hypothetical evaluation of the exchange rate criterion. We review the exchange rate strategies … of transition countries using an analytical framework similar to the EU member states, and discuss the selected … experience of EU-15 countries, we summarize the main determinants of exchange rate movement in transition countries. Finally, we …