Potential new entrants to the European Union from Central and Eastern European countries face many challenges to achieve financial convergence with the existing EU nations. Using detailed case studies from Bulgaria, the Czech Republic, Latvia, Lithuania and Poland and analysis of cross country...

In this paper, we examine the impact of eurozone membership on sovereign creditworthiness over the period 1996-2017 and the underlying channels through which the impact operates. We find that: (a) eurozone membership improved sovereign credit ratings, on average by over one notch; (b) the...

In this comprehensive second edition of The Economics of International Integration, Miroslav N. Jovanović examines the theory of international economic integration and explores the existing and emerging international integration agreements, their achievements, problems and prospects. One of the...