Macroeconomic challenges and experience on the road to EU

Boskov, Tatjana and Fotov, Risto (2013) Macroeconomic challenges and experience on the road to EU. Restructuring the economies: realities and perspectives given the current economic crisis"-“1 Decemrie 1918” University of Alba Iulia Faculty of Science Romanian Academy-Institute of National Economy, 7. pp. 275-286. ISSN ISBN 978-606-613-081-3

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Abstract

During the past decade, the ten new EU member states reached a high degree of market integration and macroeconomic stabilization as part of their accession process. The main challenge for these countries is to deal with large and potential volatile capital inflows and to achieve nominal convergence needed for adopting the euro. These challenges must be addressed within the scope of the limited fiscal policy - there is little room for public sectors to grow up. In the context of macroeconomic adjustment, macrofiscal policies will be in the focus of macroeconomic policies in the years that follow. They need to focus on meeting the requirements for sustainability of EMU, and to assist in absorbing the effects of aggregate demand of large capital inflows. So in terms of macroeconomic convergence and the case of Macedonia, EU membership requires convergence of the Macedonian economy with that of the EU in realistic conditions, indicating income per capita and economic structure, and nominal terms, meaning convergence of prices, inflation and interest rates.

Item Type: Article
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Tourism and Business Logistics
Depositing User: Tatjana Boskov
Date Deposited: 12 Nov 2014 13:30
Last Modified: 12 Nov 2014 13:30
URI: http://eprints.ugd.edu.mk/id/eprint/11307

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