Naslov
Early phase of euro introduction in Croatia

Autori
Kordić, Gordana

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Proceedings of FEB Zagreb 14th International Odyssey Conference on Economics and Business, Vol. 5, No. 1 / Sever Mališ, Sanja ; Načinović Braje, Ivana ; Galetić, Fran - Zagreb : Ekonomski fakultet Sveučilišta u Zagrebu, 2023, 286-296

Skup
FEB Zagreb 14th International Odyssey Conference on Economics and Business

Mjesto i datum
Poreč, Hrvatska, 10.05.2023. - 13.05.2023

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
euro ; eurozone ; Croatia ; euro integrations

Sažetak
Adopting the euro as the official currency on January 1st, 2023, Croatia has completed the process of monetary integration into european Economic and monetary union. Although euro introduction has been set as one of the final and most important goals of the transition process decades ago, its final realization in practice faced many dilemmas. Furthermore, it contributes to the discussion on the optimal choice of exchange rate regime in terms of a small open economy. Although some economists highly value the potentials of monetary sovereignty, new European union members have a so called “opt-in” clause that obliges them to euro introduction after fulfilling the convergence criteria. Croatian monetary and exchange rate policy during the past few decades of monetary sovereignty were determined, inter alia, with high levels of unofficial euroization. That has also been the limiting factor for its creation. On the other hand, the euro and the policy of European central bank have not been unfamiliar in this country. Convergence criteria have already been in focus of theoretical and practical research but the real readiness for euro adoption and use can be tested only after the process is finished. This paper aims to analyze the early stage of euro adoption, focusing on the most important phases and outputs of the process from the aspects of monetary and exchange rate policy that can be evaluated so far. That is why it covers the first, mostly technical phase, while deeper analyzes should be done later, after a longer period of its use. Thereafter, paper has several goals. First, it provides an overview of the literature on the euro introduction experiences in theoretical aspect, but also on practical examples of selected, comparable countries. Then, the focus is on the experience of the first months of euro use in Croatia, including the specifics on the national and international level. Finally, there are some recommendations for the forthcoming period, which are partly based on the experiences of other countries. Although the analyzes are limited with a short time span of euro use in Croatian practice, it might serve as a good starting point for further discussion and contributes to the existing research.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA