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On the way to Eurozone: The case of Bulgaria and Hungary

Yordanka Chobanova

ISBN 10: 3843375860 / ISBN 13: 9783843375863
Published by LAP LAMBERT Academic Publishing, 2010
Condition: Good Soft cover
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Bibliographic Details

Title: On the way to Eurozone: The case of Bulgaria...

Publisher: LAP LAMBERT Academic Publishing

Publication Date: 2010

Binding: Paperback

Book Condition:Good

About this title


Is there a necessity for revision of reference values (inflation and deficit) of the Maastricht monetary convergence criteria by considering the equilibrium characteristics of new, catching up member-states? Drawing on governmental documents and reports issued by the IMF, EBRD, Bulgarian Agency for Economic Analysis and Forecasting, Bulgarian and Hungarian National Bank and interviews with former and present governmental officials and respected scholars, this work argues that the existing Balassa- Samuelson (BS) effect in the catching-up transition economies frustrates the possibility for compliance with the Maastricht monetary convergence criteria necessary for EMU membership. The study recommends the Maastricht criteria to be defined in reference to the average inflation rate of the euro zone (the Harmonized Index of Consumer Prices, HICP), not the three EU members with the lowest inflation rate.

About the Author:

Yordanka Chobanova graduated from Varna University of Economics, Bulgaria. Then, she contunued her studies in Central European University, Budapest where she gained her MA degree in Political Sciences. Currently she is dealing with regional policy issues at the Permament Representation of Bulgaria to the EU in Brussels.

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