The Unilateral Euroisation Debate in Central and Eastern European EU Accession Countries

C. Wójcik; P. Backé

doi:10.1556/aoecon.54.2004.2.1

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Acta Oeconomica

Volume/Issue:: Volume 54: Issue 2

The Unilateral Euroisation Debate in Central and Eastern European EU Accession Countries

Authors:

C. Wójcik

C. Wójcik Warsaw School of Economics Al. Niepodlegloshi 164, 02-554 Warsaw, Poland

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P. Backé

P. Backé
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Pages:: 123–157

Online Publication Date:: 22 Jul 2005

Publication Date:: 01 Aug 2004

Article Category:: Journal Article

DOI:: https://doi.org/10.1556/aoecon.54.2004.2.1

Keywords:: monetary policy; monetary policy; EU enlargement; unilateral euroisation; monetary union; transition countries

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This paper provides an analysis of the economic benefits, costs and risks that a fast unilateral euroisation would have for the Central and Eastern European EU accession countries. In doing so, a comprehensive and broad overview of the euroisation debate is presented. The overall conclusion from the analysis is that, at this stage, the economics of a rapid unilateral euroisation are highly ambiguous and probably even harmful for the accession countries. However, there are good reasons to believe that the cost-benefit balance of full monetary integration will turn positive for some accession countries within a few years if sound macroeconomic policies are retained, the Maastricht criteria are fulfilled and structural reforms are carried on further to underpin the sustainability of convergence.

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Acta Oeconomica Periodical of the Hungarian Academy of Sciences

Print ISSN:: 0001-6373

Online ISSN:: 1588-2659

Associate Editors

Péter Benczúr, Joint Joint Research Center, European Commission
Dóra Benedek, International Monetary Fund
Balázs Égert, OECD
Dániel Prinz, World Bank
Rok Spruk, University of Ljubljana, School of Economics and Business, Slovenia

Editorial Board

Anders Åslund, Georgetown University and Advisory Council of CASE, USA
István Benczes, Corvinus University of Budapest, Hungary
Agnieszka Chłoń-Domińczak, SGH Warsaw School of Economics, Poland
Fabrizio Coricelli, University of Siena, Italy
László Csaba, Corvinus University of Budapest, Hungary and Central European University, Austria
Beáta Farkas, Faculty of Economics and Business Administration, University of Szeged, Hungary
Péter Halmai, Budapest University of Technology and Economics, and National University of Public Service, Hungary
Martin Kahanec, Central European University, Austria
David Kemme, University of Memphis, USA
Michael Landesmann, The Vienna Institute for International Economic Studies (WIIW), Austria
Péter Mihályi, Corvinus University of Budapest, Hungary
Debora Revoltella, European Investment Bank

Corvinus University of Budapest
Department of Economics
Fővám tér 8 Budapest, H-1093, Hungary
E-mail: judit.kalman@uni-corvinus.hu

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2024
Scopus
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CiteScore rank
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SJR index	0.201
SJR Q rank	Q3

2023
Web of Science
Journal Impact Factor	0.7
Rank by Impact Factor	Q3 (Economics)
Journal Citation Indicator	0.23
Scopus
CiteScore	1.4
CiteScore rank	Q3 (Economics and Econometrics)
SNIP	0.385
Scimago
SJR index	0.218
SJR Q rank	Q4

Acta Oeconomica
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Acta Oeconomica
Language	English
Size	B5
Year of Foundation	1966
Volumes per Year	1
Issues per Year	4
Founder	Magyar Tudományos Akadémia
Founder's Address	H-1051 Budapest, Hungary, Széchenyi István tér 9.
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Responsible Publisher	Chief Executive Officer, Akadémiai Kiadó
ISSN	0001-6373 (Print)
ISSN	1588-2659 (Online)