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Despite the significant academic interest in the economic cohesion, the various aspects of convergence and the ways they can be measured still remain theoretically unclear. These are issues of extreme political significance, especially for countries aspiring for EU and euro area membership. The...
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Despite their progress Bulgaria and Romania significantly differ from the EU economies. In this article, on the basis …, the two countries now differ fundamentally in their choice of a monetary regime - while Romania uses inflation targeting … and a flexible exchange rate, Bulgaria has adopted a currency board regime. For this purpose we analyze: (i) the degree of …
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