View More View Less
  • 1 Poznań University of Economics Poznań Poland
Restricted access

The potential accession to the euro zone is a very current issue for Poland. Its importance is increased by the consequences of the recent economic crisis that can be seen in the global economy and particularly in the economies of European Union member states. The paper finds that the analyzed sample of companies is dominated by euro-enthusiasts, who are aware of the opportunities and risks related to “euro-based” operation. Neutralization of the risks associated with entering the euro zone and companies’ ability to take full advantage of it should be supported by thoughtful economic policy actions. The proposed set of recommendations is very extensive, but some are highlighted in details.

  • Adamiec, J. (2010): Wpływ wprowadzenia Euro na wskaźniki gospodarcze i sytuacjȩ konsumentów na przykładzie Irlandii i Słowacji. Wnioski dla Polski [The influence of adopting the euro on economic indexes and the situation of consumers based on the examples of Ireland and Slovakia. Conclusions for Poland]. Biuro Analiz Sejmowych, 38(13).

    '' (2010 ) 38 Biuro Analiz Sejmowych : -.

  • Antonakakis, N. (2012): Exchange Return Co-movements and Volatility Spillovers Before and After the Introduction of Euro. Journal of International Financial Markets, Institutions and Money 22(5): 1091–1109.

    Antonakakis N , 'Exchange Return Co-movements and Volatility Spillovers Before and After the Introduction of Euro ' (2012 ) 22 Journal of International Financial Markets, Institutions and Money : 1091 -1109.

    • Search Google Scholar
  • Barrel, R. - Holland, D. - Khoman, E. - Liadze, I. - Pomerantz, O. (2008): The Impact of EMU on Growth and Employment, cited by Martins, J.N., Workshop EMU@10-achievements and challenges. Summary of Research Projects, in: European Economy Research Letter, Economic and Financial Affairs 2(1).

    '' (2008 ) 2 European Economy Research Letter, Economic and Financial Affairs : -.

  • Belka, M. (2007): Rozszerzenie europejskiej unii walutowej a perspektywy rozwoju gospodarczego Polski [The expansion of the European monetary union and the perspectives for Poland’s economic development]. Ekonomista 2007(6): 873–890.

    Belka M , 'Rozszerzenie europejskiej unii walutowej a perspektywy rozwoju gospodarczego Polski ' (2007 ) 2007 Ekonomista : 873 -890.

    • Search Google Scholar
  • Bielewicz, A. (2009): Euro: bilans zysków i strat [The euro: benefits and costs]. Harvard Business Review Polska November: 159–167.

    Bielewicz A , '', in Harvard Business Review Polska , (2009 ) -.

  • Bole, V. (2008): The First Year of the Euro: A Review of Slovenia’s Economic Performance. Kroon and Economy 2008(2): 16–53.

    Bole V , 'The First Year of the Euro: A Review of Slovenia’s Economic Performance ' (2008 ) 2008 Kroon and Economy : 16 -53.

    • Search Google Scholar
  • Bukowski, M. - Dyrda, S. - Growiec, J. - Kowal, P. - Pelle, D. - Barteczko, K. - Piotrowski, J. - Broz, T. (2010): Introduction of the Euro in CEE Countries — Is It Economically Justifiable? The Croatian Case. Post-Communist Economies 22(4): 427–447.

    Broz T , 'Introduction of the Euro in CEE Countries — Is It Economically Justifiable? The Croatian Case ' (2010 ) 22 Post-Communist Economies : 427 -447.

    • Search Google Scholar
  • Capstaff, J. - Marshall, A. (2007): The Introduction of the Euro and Derivative Use in French Firms, Journal of International Financial Management and Accounting 18(1): 1–17.

    Marshall A , 'The Introduction of the Euro and Derivative Use in French Firms ' (2007 ) 18 Journal of International Financial Management and Accounting : 1 -17.

    • Search Google Scholar
  • Cheung, Y.-W. - Westermann, F. (2001): Equity Price Dynamics Before & After the Introduction of the Euro. CESifo Working Paper No. 420.

    Westermann F , '', in Equity Price Dynamics Before & After the Introduction of the Euro , (2001 ) -.

    • Search Google Scholar
  • Christie, E. - Marshall, A. (2001): The Impact of the Introduction of the Euro on Foreign Exchange Risk Management in UK Multinational Companies. European Financial Management 7(3): 419–434.

    Marshall A , 'The Impact of the Introduction of the Euro on Foreign Exchange Risk Management in UK Multinational Companies ' (2001 ) 7 European Financial Management : 419 -434.

    • Search Google Scholar
  • Collicelli, C. (1999): Introduction of the Euro and the Dense Society. Journal of Consumer Policy 22(1–2): 117–133.

    Collicelli C , 'Introduction of the Euro and the Dense Society ' (1999 ) 22 Journal of Consumer Policy : 117 -133.

    • Search Google Scholar
  • Festic, M. - Repina, S. - Krizanic, F. (2009): Inflation after the Introduction of the Euro: The Case of Slovenia. Journal of Economics 57(10): 963–979.

    Krizanic F , 'Inflation after the Introduction of the Euro: The Case of Slovenia ' (2009 ) 57 Journal of Economics : 963 -979.

    • Search Google Scholar
  • Gärling, T. - Thøgersen, J. (2007): Effects of the Euro Changeover on Consumer Behaviour. Journal of Consumer Policy 30(4): 303–311.

    Thøgersen J , 'Effects of the Euro Changeover on Consumer Behaviour ' (2007 ) 30 Journal of Consumer Policy : 303 -311.

    • Search Google Scholar
  • Gorynia, M., (2002): Luka konkurencyjna na poziomie przedsifbiorstwa a przystbpienie Polski do Unii Europejskiej. Implikacje dla strategii firm i polityki gospodarczej [The competitive gap at company level and Poland’s accession to the European Union. Implications for company strategy and economic policy]. Wydawnictwo AE w Poznaniu. Poznań.

    Gorynia M , '', in Wydawnictwo AE w Poznaniu , (2002 ) -.

  • Guido, G. - Peluso, A. (2004): Consumers’ Perception of Odd-ending Prices with the Introduction of the Euro. Journal of Product & Brand Management 13(3): 200–210.

    Peluso A , 'Consumers’ Perception of Odd-ending Prices with the Introduction of the Euro ' (2004 ) 13 Journal of Product & Brand Management : 200 -210.

    • Search Google Scholar
  • Haselmann, R. - Herwartz, H. (2010): The Introduction of the Euro and its Effects on Portfolio Decisions. Journal of International Money and Finance 29(1): 94–110.

    Herwartz H , 'The Introduction of the Euro and its Effects on Portfolio Decisions ' (2010 ) 29 Journal of International Money and Finance : 94 -110.

    • Search Google Scholar
  • Helisek, M. (2011): Impacts of Financial Crisis on the Euro Introduction in the Czech Republic. Economic Studies & Analyses 5(3): 220–239.

    Helisek M , 'Impacts of Financial Crisis on the Euro Introduction in the Czech Republic ' (2011 ) 5 Economic Studies & Analyses : 220 -239.

    • Search Google Scholar
  • Hobijn, B. - Ravenna, F. - Tambalotti, A. (2006): Menu Costs at Work: Restaurant Prices and the Introduction of the Euro. Quarterly Journal of Economics 121(3): 1103–1131.

    Tambalotti A , 'Menu Costs at Work: Restaurant Prices and the Introduction of the Euro ' (2006 ) 121 Quarterly Journal of Economics : 1103 -1131.

    • Search Google Scholar
  • Jankovská, A. - Kolenčík, P. (2007): The Process of the Euro Introduction in the Slovak Republic at the Present Time. In: Poloucek, S. - Stavarek, D. (eds), Future of the European Monetary Integration. Proceedings of the 11 th International Conference on Finance & Banking: Future of the European Monetary Integration. Karvina: Silesian University, pp. 366–373.

    Kolenčík P , '', in Future of the European Monetary Integration. Proceedings of the 11th International Conference on Finance & Banking: Future of the European Monetary Integration , (2007 ) -.

    • Search Google Scholar
  • Klucka, J. - Strelcová, S. - Leláková, E. (2010): Introduction of Euro in the Slovak Republic — Risks and Challenges. Megatrend Review 7(2): 88–108.

    Leláková E , 'Introduction of Euro in the Slovak Republic — Risks and Challenges ' (2010 ) 7 Megatrend Review : 88 -108.

    • Search Google Scholar
  • König, P. - Lacina, L. (2007): Identification and Classification of Benefits and Costs Associated with Introduction of Euro in the Czech Republic. In: Poloucek, S. - Stavarek, D. (eds), Future of the European Monetary Integration. Proceedings of the 11 th International Conference on Finance & Banking: Future of the European Monetary Integration. Karvina: Silesian University, pp. 397–417.

    Lacina L , '', in Future of the European Monetary Integration. Proceedings of the 11th International Conference on Finance & Banking: Future of the European Monetary Integration , (2007 ) -.

    • Search Google Scholar
  • Konopczak, K. - Rozkrȩt M. (2008): Wplyw wprowadzenia wspolnej waluty do obiegu gotowkowego na zmiany w poziomie cen krajow strefy euro [Effect of the implementation of common currency in form of cash on the level of prices in the euro zone countries]. Warsaw: NBP.

    Rozkrȩt M , '', in Wplyw wprowadzenia wspolnej waluty do obiegu gotowkowego na zmiany w poziomie cen krajow strefy euro , (2008 ) -.

    • Search Google Scholar
  • Kool, C. J. M. (2000): International Bond Markets and the Introduction of the Euro. Federal Reserve Bank of St. Louis Review 82(5): 41–56.

    Kool C J M , 'International Bond Markets and the Introduction of the Euro ' (2000 ) 82 Federal Reserve Bank of St. Louis Review : 41 -56.

    • Search Google Scholar
  • Korkeamäki, T. (2011): Interest Rate Sensitivity of the European Stock Markets Before and After the Euro Introduction. Journal of International Financial Markets, Institutions and Money 21(5): 811–831.

    Korkeamäki T , 'Interest Rate Sensitivity of the European Stock Markets Before and After the Euro Introduction ' (2011 ) 21 Journal of International Financial Markets, Institutions and Money : 811 -831.

    • Search Google Scholar
  • Łon, E. (2007): Dlaczego Polska nie powinna wchodziæ do strefy euro? Poznań: Katedra Bankowosci, Uniwersytet Ekonomiczny w Poznaniu.

    Łon E , '', in Dlaczego Polska nie powinna wchodziæ do strefy euro? , (2007 ) -.

  • Maciejewicz, P. (2008): NBP: Wprowadzenie euro oplaci sif Polsce [The National Bank of Poland: Poland will benefit from adopting the euro]. Gazeta Wyborcza 8th October 2008.

    Maciejewicz P , '', in Gazeta Wyborcza , (2008 ) -.

  • Marczewski, K. (2008): Wejście Polski do strefy euro w opiniach eksporterów. Analiza wyników badania ankietowego [Poland’s entry into the euro zone in the opinions of exporters. An analysis of a questionnaire study]. In: Instytut Badam Rynku, Konsumpcji i Koniunktur, Polityka gospodarcza Polski w integrującąj sif Europie 2007–2008. Raport roczny [Poland’s economic policy in the integrating Europe 2007–2008. Annual report]. Warsaw: Instytut Badam Rynku, Konsumpcji i Koniunktur.

    Marczewski K , '', in Polityka gospodarcza Polski w integrującąj sif Europie 2007–2008. Raport roczny , (2008 ) -.

    • Search Google Scholar
  • Mare, C. - Litan, C. (2012): Perspectives on Euro introduction in the Romanian Economy. Baltic Journal of Economics 12(1): 23–40.

    Litan C , 'Perspectives on Euro introduction in the Romanian Economy ' (2012 ) 12 Baltic Journal of Economics : 23 -40.

    • Search Google Scholar
  • Molz, G. - Gielnik, M. (2006): Does the Introduction of the Euro Have an Effect on Subjective Hypotheses about the Price-quality Relationship? Journal of Consumer Behaviour 5(3): 204–210.

    Gielnik M , 'Does the Introduction of the Euro Have an Effect on Subjective Hypotheses about the Price-quality Relationship? ' (2006 ) 5 Journal of Consumer Behaviour : 204 -210.

    • Search Google Scholar
  • Moorhead, S. - Brooks, R. (2013): The Effect of the Introduction of the Euro on Asymmetric Stock Market Returns Volatility Across the Euro-zone. Accounting and Management Information Systems 12(2): 280–301.

    Brooks R , 'The Effect of the Introduction of the Euro on Asymmetric Stock Market Returns Volatility Across the Euro-zone ' (2013 ) 12 Accounting and Management Information Systems : 280 -301.

    • Search Google Scholar
  • Morana, C. - Beltratti, A. (2002): The Effects of the Introduction of the Euro on the Volatility of European Stock Markets. Journal of Banking & Finance 26(10): 2047–2064.

    Beltratti A , 'The Effects of the Introduction of the Euro on the Volatility of European Stock Markets ' (2002 ) 26 Journal of Banking & Finance : 2047 -2064.

    • Search Google Scholar
  • Nguyen, H. - Faff, R. - Marshall, A. (2007): Exchange Rate Exposure, Foreign Currency Derivatives and the Introduction of the Euro: French Evidence. International Review of Economics & Finance 16(4): 563–577.

    Marshall A , 'Exchange Rate Exposure, Foreign Currency Derivatives and the Introduction of the Euro: French Evidence ' (2007 ) 16 International Review of Economics & Finance : 563 -577.

    • Search Google Scholar
  • Przystupa J. (2008): Wplyw wejścia Polski do strefy euro na bezrobocie i zatrudnienie [The influence of Poland’s entry to the euro zone on unemployment and empolyment]. Warsaw: Instytut Badañ Rynku, Konsumpcji i Koniunktur, Instytut Badań Strukturalnych.

    Przystupa J , '', in Wplyw wejścia Polski do strefy euro na bezrobocie i zatrudnienie , (2008 ) -.

    • Search Google Scholar
  • Rakhmayil, S. (2010): Did Financial Performance of European Firms Improve and Converge After Introduction of the Euro? The International Journal of Business and Finance Research 4(2): 27–41.

    Rakhmayil S , 'Did Financial Performance of European Firms Improve and Converge After Introduction of the Euro? ' (2010 ) 4 The International Journal of Business and Finance Research : 27 -41.

    • Search Google Scholar
  • Ramoniene, L. - Brazys, D. (2007): Euro Introduction Effects on Individuals’ Economic Decisions: Testing the Presence of Difference Assessment Account among Lithuanian and Latvian Consumers. Baltic Journal of Economics 6(2): 29–55.

    Brazys D , 'Euro Introduction Effects on Individuals’ Economic Decisions: Testing the Presence of Difference Assessment Account among Lithuanian and Latvian Consumers ' (2007 ) 6 Baltic Journal of Economics : 29 -55.

    • Search Google Scholar
  • Roeskau, G. M. (1997): The Introduction of the Euro: A German View. Economic and Financial Review 4(4): 181–193.

    Roeskau G M , 'The Introduction of the Euro: A German View ' (1997 ) 4 Economic and Financial Review : 181 -193.

    • Search Google Scholar
  • Torój, A. (2010): Czy euro wyjasnia hiszpamską inflacjȩ [Does the euro explain Spanish inflation?]. Parkiet 04 March 2010.

    Torój A , '', in Parkiet , (2010 ) -.

  • Tsujimura, K. - Tsujimura, M. (2009): The Consequences of the Introduction of the Euro: A Nested Mixed-effects Analysis of the International Banking Positions. Empirical Economics 37(3): 583–597.

    Tsujimura M , 'The Consequences of the Introduction of the Euro: A Nested Mixed-effects Analysis of the International Banking Positions ' (2009 ) 37 Empirical Economics : 583 -597.

    • Search Google Scholar
  • Ummelas, O. (2012): Why Estonia loves the euro, Bloomberg Business Week Magazine, http://www.businessweek.com/magazine/why-estonia-loves-the-euro-02022012.html , accessed 29/12/2013

    Ummelas O , '', in Why Estonia loves the euro, Bloomberg Business Week Magazine , (2012 ) -.

  • Wójcik, T. (2007): Co nas dzieli od euro [What separates us from the euro]. Gazeta Polska 15 March 2007.

    Wójcik T , '', in Gazeta Polska , (2007 ) -.

  • Zhentao, L. - Asakoc, K. (2009): Transfiguration of the foreign exchange market since the Euro introduction. Applied Financial Economics 19(22): 1803–1812.

    Asakoc K , 'Transfiguration of the foreign exchange market since the Euro introduction ' (2009 ) 19 Applied Financial Economics : 1803 -1812.

    • Search Google Scholar