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Romania'S Real Convergence To The European Union

Author

Listed:
  • DragoÅŸ Mihai Ungureanu
  • Ruxandra Dana Vilag
  • George Horia Ionescu
  • Florian Bogdan Stoian

Abstract

In the process of European integration, switching in 1999 to the third stage of Economic and Monetary Union, has intensified the need to coordinate economic and sectoral policies of the Member States. The process of coordination is necessary to harmonize national economic policy objectives in order to minimize the negative impact of economic policy measures taken by some member countries to other member countries and reduce the temptation for Member States to have behavior riders. Real Convergence is an essential goal of Romanian integration into the European Union. Attenuation of the development gaps maintained between Romania and the EU can not be achieved solely through the use of market forces. Economic transformations occurring globally and increased risk aversion contributed to a signifiant reduction of capital flows to Romania, increased pressures upon exchange rate.

Suggested Citation

  • DragoÅŸ Mihai Ungureanu & Ruxandra Dana Vilag & George Horia Ionescu & Florian Bogdan Stoian, 2009. "Romania'S Real Convergence To The European Union," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(11), pages 1-14.
    • Handle: RePEc:alu:journl:v:2:y:2009:i:11:p:14
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    References listed on IDEAS

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    Cited by:

    1. Adela Socol & Imola Drigă, 2013. "Real Convergence in Romania - A Comparative Approach to Non-erm II Countries from Central and Eastern Europe," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 13(1), pages 261-272.

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    More about this item

    Keywords

    Real convergence; nominal convergence; integration; European Union;
    All these keywords.

    JEL classification:

    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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