Euro Adoption in Central and Eastern Europe : Opportunities and Challenges

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ISBN: 9781589063709

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Year Published:2005
Pages:210
Paperback

Euro Adoption in Central and Eastern Europe : Opportunities and Challenges

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The accession in 2004 of eight central European countries (CECs) to the European Union (EU) marks the end of the first phase of the integration of these economies with Western Europe. These eight countries have traveled a long road since the beginning, just over a decade ago, of their transition to market economy status. In many respects the macroeconomic similarities to Western Europe have grown: borders are open to trade and capital, the role of the state in production is far smaller than during the period of central planning, inflation rates are generally low and stable, and monetary and fiscal policy are for the most part transparent. Reasonably strong recoveries from immediate posttransition drops in output have been the reward for reform, and the bold step of taking these countries into the EU promises to further boost their growth prospects.

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Author Name Susan Schadler

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