Although entering a currency union involves both costs and benefits, an increasing body of research is finding that the benefits – in terms of international trade creation – are remarkably large. For example, Rose (2000) suggests that countries can up to triple their trade by joining a...

This study challenges the conventional view that CEE countries are in their attitudes towards the adoption of the euro driven by materialistic concerns. It argues that neither ‘objective' indicators of economic benefits, nor the distributive impacts which the adoption of the euro is likely to...

For each country, joining the union is a unique process, considering advantages and disadvantages which a country can thus obtain. In order to fulfill conditions for the EU accession, transition countries must achieve different convergence criteria. Expansion of the EU brings along many...

After the fall of communist regime the Romanian current account passed from exceeds to substantial and persistent deficits. This evolution raised concerns over the country external sustainability. Since 2007, in the Romanian foreign trade dramatic changes occurred, being induced by the adhesion...

The paper examines European perspective of the Serbia. Serbian approach to the membership of the EU has been passed through several phases. The first phase comprised the period after democratic changes which happened in Serbia (Oct. 5th, 2000) and establishing economic and diplomatic relations...

The main objective of our paper is to estimate the impact of trade logistics performance costs on trade flows in goods among twenty-two European Union (EU) economies and among each of the selected eight new EU Member States and their twenty-one trade partners. Due to its robustness in explaining...

The paper examines the challenges at the present state of affairs of Serbia towards membership in the European Union. After a long and dubious game of Serbian aspiration towards membership in the European Union, from becoming “potential candidate for European Union membership” (2000), to...

Unofficial euroisation is explored in this paper as a push factor towards EMU membership. The paper investigates the presence of foreign currency alongside the domestic currency in the economy and its consequences regarding the conduct of monetary and exchange rate policy. Investigation of the...

Using an econometric shift-share decomposition, we explain the redistribution of world market shares at the level of the product variety and by technological content. We decompose changes in market shares into structural effects (geographical and sectoral) and a pure performance effect. We...