Indeks optymalnego obszaru walutowego dla gospodarki polskiej
Optimal Currency Area Index for the Polish Economy
Author(s): Katarzyna PiłatSubject(s): National Economy, Economic policy, EU-Approach / EU-Accession / EU-Development, Financial Markets
Published by: Instytut Nauk Ekonomicznych Polskiej Akademii Nauk
Keywords: optimum currency area; Economic and Monetary Union; euro area; Poland, European Union;
Summary/Abstract: The theory of the optimum currency areas (OCA) is an important reference point in the analysis of monetary unions. The article presents the analysis of the synthetic OCA index based on the concept developed by Bayoumi and Eichengreen (1998), aimed to assess the conformity of several EU economies not yet included in the euro area with the requirements of the OCA theory as regards their possible accession to the EMU. The results of the analysis suggest that, among the analysed countries, Poland, Hungary and Great Britain fulfill best the requirements of the OCA theory with respect to the euro area. A more detailed examination, however, shows that Poland fitted best to the euro area in the years 2004–2005, just after its accession to the EU, while in the last years the OCA index, measuring the concordance of the Polish economy with the euro area, deteriorated, due mainly to the discrepancy of cyclical fluctuations during the lat economic crisis.
Journal: Ekonomista
- Issue Year: 2012
- Issue No: 3
- Page Range: 325-338
- Page Count: 14
- Language: Polish
