The rapid journey from central planning to EU (euro area) membership stress-tested the social learning processes of the Former Transition Economies (FTEs). The desire for a higher standard of living, to be anchored to the West, and to enter the EU, spurred major reform waves and led to the very...

Monetary integration of developing and transition countries is considered as a monetary strategy for immunization against international monetary instabilities. This paper corresponds to the growing interest in the integration theory and its application to the Economic and Monetary Union...