Konvergencija i Evropska unija
Convergence and the European Union

Summary/Abstract: The recent literature about economic integration states that the main advantages of forming such integrations are: improved competitiveness, promotion of the economic growth, lower prices and improvement of general wellbeing. The aim of this paper is to analyze the convergence as one of the most important conditions for successful functioning of the economic and monetary integration. The paper also examines the connection between the level of openness, trade and convergence. Moreover, it analyzes the convergence within the EU using the Deka Convergence European Indicator. This Indicator takes into consideration four types of convergence: real, monetary, institutional and fiscal convergence. The paper also studies the perspective of new and potential members to successfully adapt to the Union's standards.

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