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Euro Area Accession and its Effect on Manufacturing

Author

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  • Magdalena Vlahova-Veleva

    (Sofia University “St. Kliment Ohridski”, Faculty of Economics and Business Administration)

Abstract

A single currency could bring both benefits and challenges, hence, this paper examines one of the various dimensions of euro adoption. Moreover, although previous studies have illuminated the euro effect on inflation and trade, the research on manufacturing remains limited. The paper aims to make an assessment of whether euro area accession has an impact on industrial output in the context of the manufacturing sector, as this sector is considered to have a crucial role for sustainable economic growth. The research fits a panel regression model for seven-euro area member states from Central and Eastern Europe and covers a 16-year period from 2003 to 2018. The findings suggest that the participation in the monetary union might increase manufacturing turnover for its members.

Suggested Citation

  • Magdalena Vlahova-Veleva, 2019. "Euro Area Accession and its Effect on Manufacturing," Bulgarian Economic Papers bep-2019-06, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski, revised Jul 2019.
    • Handle: RePEc:sko:wpaper:bep-2019-06
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    File URL: https://www.uni-sofia.bg/index.php/eng/content/download/216853/1458251/file/BEP-2019-06.pdf
    File Function: First version, 2019
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    More about this item

    Keywords

    Economic and Monetary Union; euro; panel regression; manufacturing.;
    All these keywords.

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • F45 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Macroeconomic Issues of Monetary Unions
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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