OCA Index vs. Maastricht Criteria: The Case of Selected EU Countries

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

OCA Index vs. Maastricht Criteria: The Case of Selected EU Countries

Popis výsledku v původním jazyce

In all probability, the most famous monetary union in the world is the Eurozone, which now consists of nineteen European countries. The other nine EU member states are in the statute of candidate countries. The aim of the article is to assess an appropriateness of selected EU countries standing out of the Eurozone for their membership in this monetary union according to the Maastricht criteria and the OCA index. The Treaty on European Union (the Maastricht Treaty) adjusts the convergence criteria, which the candidate country has to fulfil if it wants to join the Eurozone. These five economic criteria assess the suitability of applicant countries for the membership and they are evaluated every year in the Convergence Report. On the other hand, the OCA index is based on the optimum currency area theory and its criteria. This index includes variables that are important in deciding the country&apos;s entry into the monetary union. In this case, the OCA index is computed by using a panel regression method, while the original equation of Bayoumi and Eichengreen (1997), who estimated the OCA index first, is used. The sample covers the period from 2000 to 2014. Based on these results, it is possible to assess how selected countries fulfil the Maastricht criteria of convergence and whether the results are in the line with the OCA index.

Název v anglickém jazyce

OCA Index vs. Maastricht Criteria: The Case of Selected EU Countries

Popis výsledku anglicky

In all probability, the most famous monetary union in the world is the Eurozone, which now consists of nineteen European countries. The other nine EU member states are in the statute of candidate countries. The aim of the article is to assess an appropriateness of selected EU countries standing out of the Eurozone for their membership in this monetary union according to the Maastricht criteria and the OCA index. The Treaty on European Union (the Maastricht Treaty) adjusts the convergence criteria, which the candidate country has to fulfil if it wants to join the Eurozone. These five economic criteria assess the suitability of applicant countries for the membership and they are evaluated every year in the Convergence Report. On the other hand, the OCA index is based on the optimum currency area theory and its criteria. This index includes variables that are important in deciding the country&apos;s entry into the monetary union. In this case, the OCA index is computed by using a panel regression method, while the original equation of Bayoumi and Eichengreen (1997), who estimated the OCA index first, is used. The sample covers the period from 2000 to 2014. Based on these results, it is possible to assess how selected countries fulfil the Maastricht criteria of convergence and whether the results are in the line with the OCA index.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2016

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Proceedings of 14th International Scientific Conference Economic Policy in the European Union Member Countries: September 14-16, 2016, Petrovice u Karviné, Czech Republic. Part 1

ISBN

978-80-7510-210-2

ISSN

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e-ISSN

neuvedeno

Počet stran výsledku

8

Strana od-do

64-71

Název nakladatele

Slezská univerzita v Opavě, Obchodně podnikatelská fakulta v Karviné

Místo vydání

Opava

Místo konání akce

Petrovice u Karviné

Datum konání akce

14. 9. 2016

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

000403638200007