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Pregled bibliografske jedinice broj: 916833

Croatian path to the monetary union: why, when and what can we learn from our peers?


Ćorić, Tomislav; Deskar-Škrbić, Milan
Croatian path to the monetary union: why, when and what can we learn from our peers? // Ekonomski pregled : mjesečnik Hrvatskog društva ekonomista Zagreb, 68 (2017), 6; 611-637 (međunarodna recenzija, članak, znanstveni)


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Naslov
Croatian path to the monetary union: why, when and what can we learn from our peers?

Autori
Ćorić, Tomislav ; Deskar-Škrbić, Milan

Izvornik
Ekonomski pregled : mjesečnik Hrvatskog društva ekonomista Zagreb (0424-7558) 68 (2017), 6; 611-637

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
Croatia ; euro adoption ; convergence criteria ; ERM 2

Sažetak
In this paper we analyze different aspects of Croatian path to the monetary union and its current readiness to join the ERM 2 mechanism. Firstly, we present and discuss costs and benefits of euro adoption. Second, we use descriptive analysis to determine Croatia's current position in relation to convergence criteria and discuss the possible timing of Croatian accession to the ERM 2. Thirdly, we analyze experiences of two CEE peers, Slovenia and Slovakia, before and after joining ERM 2 and highlight key lessons for Croatian policy makers. As Croatia is highly euroised (high FX risk) small and open economy, strongly integrated in EA trade and financial chains, with limited possibilities of monetary policy, the benefits of euro adoption would outweigh all commonly mentioned costs. Regarding convergence criteria, the biggest obstacle of Croatian access to ERM 2 mechanism is the level of public debt but recent developments and adjustments of SGP suggest that Croatia could satisfy the adjusted fiscal criteria already in several years. Experiences of Slovenia and Slovakia show that determined steps towards the euro (primarily ERM 2) can serve as an important policy credibility anchor and put a positive pressure on policy makers to preserve internal and external stability of the country and implement various structural reforms in order to achieve convergence with the euro zone members.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija



POVEZANOST RADA


Projekti:
HRZZ-IP-2016-06-4609 - Održivost javnih financija na putu u monetarnu uniju (PuFiSuMU) (Šimović, Hrvoje, HRZZ - 2016-06) ( POIROT)

Ustanove:
Ekonomski fakultet, Zagreb

Profili:

Avatar Url Milan Škrbić (autor)

Avatar Url Tomislav Ćorić (autor)

Citiraj ovu publikaciju

Ćorić, Tomislav; Deskar-Škrbić, Milan
Croatian path to the monetary union: why, when and what can we learn from our peers? // Ekonomski pregled : mjesečnik Hrvatskog društva ekonomista Zagreb, 68 (2017), 6; 611-637 (međunarodna recenzija, članak, znanstveni)
Ćorić, T. & Deskar-Škrbić, M. (2017) Croatian path to the monetary union: why, when and what can we learn from our peers?. Ekonomski pregled : mjesečnik Hrvatskog društva ekonomista Zagreb, 68 (6), 611-637.
@article{article, year = {2017}, pages = {611-637}, keywords = {Croatia, euro adoption, convergence criteria, ERM 2}, journal = {Ekonomski pregled : mjese\v{c}nik Hrvatskog dru\v{s}tva ekonomista Zagreb}, volume = {68}, number = {6}, issn = {0424-7558}, title = {Croatian path to the monetary union: why, when and what can we learn from our peers?}, keyword = {Croatia, euro adoption, convergence criteria, ERM 2} }
@article{article, year = {2017}, pages = {611-637}, keywords = {Croatia, euro adoption, convergence criteria, ERM 2}, journal = {Ekonomski pregled : mjese\v{c}nik Hrvatskog dru\v{s}tva ekonomista Zagreb}, volume = {68}, number = {6}, issn = {0424-7558}, title = {Croatian path to the monetary union: why, when and what can we learn from our peers?}, keyword = {Croatia, euro adoption, convergence criteria, ERM 2} }

Časopis indeksira:


  • Web of Science Core Collection (WoSCC)
    • Emerging Sources Citation Index (ESCI)
  • Scopus
  • EconLit


Uključenost u ostale bibliografske baze podataka:


  • EconLit
  • International Bibliography of the Social Sciences (IBSS)
  • Journal of Economic Literature
  • DOAJ





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