| Registro completo |
| Provedor de dados: |
AgEcon
|
| País: |
United States
|
| Título: |
A Currency Crisis in Europe? - The Europe's Common Currency and the New Accession Countries -
|
| Autores: |
Krawczyk, Mariusz K.
|
| Data: |
2006-03-15
|
| Ano: |
2004
|
| Palavras-chave: |
EU enlargement
Monetary integration
Currency crisis
Asset substitution
Financial Economics
F32
F33
F36
|
| Resumo: |
The politically and legally complicated character of the EU Eastern Enlargement heavily influenced the conflict between the legal and economic rationality underlying the construction of the EMR-II. This makes the ERM-II vulnerable to currency crises and creates conditions for a widespread currency and asset substitution in the accession countries. As a result, the required participation of all accession countries in the ERM-II imposes unnecessary costs on the whole enlargement process. The costs could be avoided if the EU adopted a more flexible approach to the enlargement of its monetary union, allowing for an individual path of adopting the euro in each accession country depending on the country's economic conditions.
|
| Tipo: |
Working or Discussion Paper
|
| Idioma: |
Inglês
|
| Identificador: |
20261
http://purl.umn.edu/26309
|
| Editor: |
AgEcon Search
|
| Relação: |
Hamburg Institute of International Economics>Discussion Paper Series
HWWA Discussion Paper 278
|
| Formato: |
24
application/pdf
|
