Bishev, Gligor and Boskov, Tatjana (2015) Exchange rate and export-led growth in SEE6: Economic convergence machine – What happened? What next? In: Održivi ekonomski razvoj - savremeni i multidisciplinarni pristupi - ERAZ, 11-12 June 2015, Belgrad, Srbija.
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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. 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 for SEE6 countries and the case of Macedonia, EU membership
requires convergence of the Macedonian economy with that of the EU in realistic conditions,
signifying income per capita and economic structure, and in nominal terms, means
convergence of prices, inflation and interest rates.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Tourism and Business Logistics |
| Depositing User: | Tatjana Boskov |
| Date Deposited: | 27 Jan 2016 09:09 |
| Last Modified: | 27 Jan 2016 09:09 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/15049 |
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