EU Convergence, Structural Adjustments and Growth: Is SEE6 Catching Up?

Bishev, Gligor and Boskov, Tatjana (2017) EU Convergence, Structural Adjustments and Growth: Is SEE6 Catching Up? International Journal of Information, Business and Management, 9 (1). pp. 75-93. ISSN 2076-9202 (Print) ISSN 2218-046X (Online)

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During the past decade, 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. In the
context of macroeconomic adjustment, macro-fiscal 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 for
SEE6 countries 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 in 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: 02 Dec 2016 08:58
Last Modified: 02 Dec 2016 08:58

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