Risks and benefits for new member states of the European Union in their entry in the Euro area in the context of the debt crisis Cover Image

Рискове и ползи за новите страни-членки на Европейския съюз при влизането им в Еврозоната в контекста на дълговата криза
Risks and benefits for new member states of the European Union in their entry in the Euro area in the context of the debt crisis

Author(s): Viktor Dinev
Subject(s): Economy, National Economy
Published by: Институт за икономически изследвания при Българска академия на науките
Keywords: the new EU member states; European sovereign debt crisis; application for the Euro area; quantitative analysis

Summary/Abstract: The Granger causality test is used to establish the direction of influence among multiple indicators related to exports and imports of new member states (NMS) of the European Union, considering the impact of the debt crisis in the Euro area (EA). Basic macroeconomic indicators of the countries are reviewed for the period 2004-2015, including the fulfillment of the Maastricht convergence criteria. The conclusions of the study point to positives for the considered countries regarding the EA membership, as well as risks. Recommendations are made on the diversification of the NMS export markets, implementing of an economic growth policy, based on exports and foreign direct investment, and forming of a roadmap on the EA membership of the states, which are not in the monetary union.

  • Issue Year: 2017
  • Issue No: 3
  • Page Range: 112-130
  • Page Count: 19
  • Language: Bulgarian