Exchange Rate Regimes and Convergence Criteria for Accession Economies: The Case of Macedonia and Croatia

15 Pages Posted: 9 Jul 2007

See all articles by Marjan Petreski

Marjan Petreski

University of American college - Skopje - School of Business Economics and Management

Date Written: July 2007

Abstract

The paper assesses the nominal convergence of Macedonia and Croatia towards the EU. As the two countries are in a process of European integration, both economies should converge to the EU economy, so that the accession to be smoother. One channel for faster nominal convergence is pegging the national currency to the euro. Macedonia does this for more than a decade (previously to the DM), whereas Croatia maintains managed float. The assessment is focused on the question how different monetary strategies achieve the nominal convergence in terms of the fulfilment of the Maastricht convergence criteria.

Keywords: exchange rate regime, nominal convergence, Macedonia, Croatia

JEL Classification: F31

Suggested Citation

Petreski, Marjan, Exchange Rate Regimes and Convergence Criteria for Accession Economies: The Case of Macedonia and Croatia (July 2007). Available at SSRN: https://ssrn.com/abstract=999051 or http://dx.doi.org/10.2139/ssrn.999051

Marjan Petreski (Contact Author)

University of American college - Skopje - School of Business Economics and Management ( email )

Skopje, 1000
Macedonia

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