TEN YEARS OF THE EUROPEAN MONETARY INTEGRATION: ACHIEVEMENTS, FAILURES AND CHALLENGES

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F08%3A%230001670" target="_blank" >RIV/47813059:19520/08:#0001670 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
TEN YEARS OF THE EUROPEAN MONETARY INTEGRATION: ACHIEVEMENTS, FAILURES AND CHALLENGES
Original language description
This paper evaluates the first decade of the European Economic and Monetary Union (EMU). The main aim is to review both the key successes and principal failure. It also identifies the crucial challenges of EMU for the next years. With respect to achievements of the monetary integration, we put the emphasis principally on international role of the euro, financial integration in EMU and price stability. As regards to disappointments, we focus on slow output and productivity growth and cross-country dispersion in EMU. We identify enlargement as the critical challenge of EMU and analyze this from the perspective of Optimum Currency Area theory and degree of synchronicity between EMU and euro-candidate countries. Finally, we propose some institutional reforms of the European Central Bank that should improve its accountability.
Czech name
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Czech description
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Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Project
<a href="/en/project/GA402%2F08%2F0067" target="_blank" >GA402/08/0067: Financial Integration of the EU New Member States with Eurozone</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year
2008
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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