Tuleja, Pavel (2005): The Czech Republic On The Road To The Euro-zone - Nominal Covergence Criteria. Published in: Future of Banking After The Year 2000 In The World And In The Czech Republic , Vol. 10, (20. October 2005): pp. 1939-1954.
Download (219kB) | Preview
Prior to its EU entry, the Czech Republic accepted the obligation to exert maximum efforts in order to fulfill conditions in the possible shortest time, on whose basis it will be able to accept the common European currency � the Euro. During the proper examination of the readiness of the Czech Republic for fulfilling this criterion one has to take into account both prerequisites, which are necessary for the integration of the Czech Republic into the Eurozone, and the dispositions of the Czech economy to maintain positive effects arising from this membership. Since such a complex analysis concerning the preparedness of the Czech Republic for accepting the Euro would be rather extensive, we paid our attention merely to the examination of the extent, to which the Czech economy meets Maastricht nominal convergence criteria. Based on the analysis, we come to a conclusion that the Czech economy will not be able to meet this obligation in the following three years, mainly due to high deficits of public finances. In the last part, based on our estimates we claim that the Czech Republic could become a member state of the Euro-zone as early as in 2010.
|Item Type:||MPRA Paper|
|Original Title:||The Czech Republic On The Road To The Euro-zone - Nominal Covergence Criteria|
|Keywords:||exchange rate stability criterion; government debt criterion; government deficit criterion; long term interest rate criterion; price stability criterion|
|Subjects:||E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
E - Macroeconomics and Monetary Economics > E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment > E20 - General
|Depositing User:||Pavel Tuleja|
|Date Deposited:||21. Nov 2008 16:34|
|Last Modified:||11. Feb 2013 10:22|
 ČSOB: How decisive are Maastricht criteria? Economic monthly journal. November 2004. Access from: <http://www.csob.cz/ft/zpr.asp? prmKod=FT1.5&archiv=archiv>.
 ČSOB: Reform of PRS: let�s look for a devil in details. Economic monthly journal. March 2005. Access from: <http://www.csob.cz/ft/zpr.asp? prmKod=FT1.5&archiv=archive>.
 ČSOB: Welcome to the club! Economic monthly journal. April 2004. Access from: < http://www.csob.cz/ft/zpr.asp? prmKod=FT1.5&archiv=archive>.
 ČSÚ: Annual national accounts. Access from: <http://dw.czso.cz/pls/rocenka/ rocenka.indexnu>.
 ECB: ECB, ESCB and Euro-system. Access from: <http://www.ecb.int/ecb/orga/ escb/html/ index.cs.html>.
 EUROSTAT: Eurostat data. Access from: <http://epp.eurostat.cec.eu.int/portal/ page?_pageid=1996,45323734&_dad=portal&_schema=PORTAL&scree n=welcomeref&open=/&product=EU_MAIN_TREE&depth=1>.
 MF ČR: The assessment of the fulfillment of Maastricht convergence criteria and stages of the economic compatibility of the Czech Republic 1954 with the Euro-zone. Access from: <http://www.mfcr.cz/cps/rde/xchg/mfcr/ hs.xsl/eu_dokumenty_14184.html>.
 OECD: OECD Economic Outlook Statistics and Projections. Database DSI Campus Solution. Access from: <http://188.8.131.52/ISAPI/DBDemo.Dll/Indicators?ID= D1E54AA210134CFAADA98A7F47637023&DB=OECD&Database=01 .2.3&Text=OECD+Economic+Outlook+Statistics+and+Projections&Nr= 3>.
 TŮMA, Z.: The Czech economy and Euro-zone entry. Access from: < http://www.cnb.cz/pdf/ tuma_hnclub_bratislava_1005.pdf>.