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This paper investigates capital market integration in the major Central European emerging economies by testing the covered and uncovered interest parity conditions vis-à-vis the U.S. dollar and the DM/euro. The results for the Central European economies since 1997 are contrasted against those...
Persistent link: https://www.econbiz.de/10011509413
Persistent link: https://www.econbiz.de/10002829757
This paper investigates capital market integration in the major Central European emerging economies by testing the covered and uncovered interest parity conditions vis-á-vis the U.S. dollar and the DM/euro. The results for the Central European economies since 1997 are contrasted against those...
Persistent link: https://www.econbiz.de/10001807103
We compare the convergence with German monetary policy of the Balkan and Mediterranean country candidates for EU …
Persistent link: https://www.econbiz.de/10010518130
The paper takes into account both the concerns of the EU, arguing that convergence is incomplete, and the demands from … accession countries, claiming that monetary integration is optimal. Indicators are developed which measure convergence and … benefits from monetary integration. The more serious problem is a lack of convergence which could imply serious risks during …
Persistent link: https://www.econbiz.de/10011490871
The paper addresses the question what effects the enlargement of a monetary union will have on necessary structural reforms in the (low distortion) member countries and the (high distortion) candidate countries. While monetary union lowers reforms in the candidate countries, members of the...
Persistent link: https://www.econbiz.de/10011509539
This chapter examines the macroeconomic benefits that membership of the Single Market has given to the 11 Baltics, Central and South Eastern European countries that joined the EU after 2004. We find that these EU11 countries have benefitted particularly from membership of the internal market...
Persistent link: https://www.econbiz.de/10012653243
This chapter focuses on the measurement of institutional convergence in the new EU member states and four Southern … institutional convergence. We present a new method which is based on hard micro-level data. Our approach focuses on control of … poor performance of Southern European EU countries and show the considerable differences in institutional convergence …
Persistent link: https://www.econbiz.de/10012653246
Persistent link: https://www.econbiz.de/10013198944
economic growth of eleven Central and Eastern European (CEE or EU11) countries, including their real convergence to the … equalization between the CEE countries and the EU15 is verified based on the β and σ convergence concepts. Second, the impact of … a clear-cut income-level convergence toward the EU15 and that variables associated with the EU membership (increasing …
Persistent link: https://www.econbiz.de/10012259712