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Problems of Nominal and Real Convergence in Selected New EU Member States before Euro Adoption
NOVOTNÁ, Adéla
My objective is to describe the issue of the EU monetary system, then to describe problems connected with the nominal convergence and the real convergence of the Czech Republic and to compare it with selected Central European EU countries. When each country joins the EU every it commits to acceptance of the euro without any unreasonable delay. It commits to convergence criteria, particularly nominal criteria (which represent approaching level of nominal quantity), which are articulated in the Maastricht treaty. Besides, they must be focused on the level of real convergence (which represent approaching economic level one country to economic level more developed country).
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Current financial and economic crisis and the entry of the Czech Republic into the European Monetary Union
Strnad, Petr ; Koderová, Jitka (advisor) ; Hýla, Pavel (referee)
This Diploma Paper provides an analysis of the Czech Republic convergence process, which importance grows more in the period before entry into the European Monetary Union. The convergence is evaluated on the basis of three criterion units which are standing alone but fading into each other. It is the Nominal convergence including Maastricht criteria which have been stated in the Treaty on European Union, then Real convergence criteria and criteria which accompany the development of the Optimum Currency Areas Theory. The theoretical part gives the definitions of particular criteria and draw the attention to potential problems which can occur by their interpreting. In the practical part there are comparative characteristics used to analyze achieved state of the convergence in the Czech Republic in relation to EU countries and euro area countries. This part attends also to monitoring the current financial and economical crisis and it's impact on individual indicators.
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The Czech Republic and the Euro Area
Fiedlerová, Lucie ; Ježek, Tomáš (advisor) ; Kubelková, Karina (referee)
This graduation thesis is concerned with the Czech Republic's readiness for the entry to the euro area. Our Republic engaged to adopt shared euro currency already before the single admission to the European union, therefore it is not suitable to research, whether the Czech Republic should adopt euro or not, but when this step will be the most appropriate to render. The introductory part of the theses describes the history of the European monetary integration and the Stability and Growth Pact as an important instrument of the budget branch adherence. The theoretical part of the thesis focuses on the theory of optimal monetary areas, which is closely associated with monetary integration. Analytical section examines the rate of nominal and real approximation of Czech economy to the euro area's economies. I deal thoroughly with the fulfilment of convergence criteria and on the basis of GDP growth rate I analyse the real convergence. I solve the current influence of Greece's problems on the admission of euro in the Czech Republic and the Slovak macroeconomic experience with the entry to the euro area.
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The process of the nominal and real convergence in Czech Republic after entering European Union
Benedikovičová, Petra ; Nečadová, Marta (advisor) ; Pošta, Vít (referee)
The aim of the bachelor paper is the macroeconomic analysis of the nominal and real convergence of Czech Republic within EU-27. Is the economic and price level of the Czech Republic closer to the level of EU-27? To which extent did the entering of the Czech Republic influence its competitiveness? Does the Czech Republic fulfill the Maastricht Convergence Criteria? I will try to answer these questions with the help of the chosen indicators on the basis of the statistic data available from the Statistical Office of the European Commission Eurostat, national CSO, also according to the evaluation of the Global Competitiveness Report, which is published every year by the World Economic Forum and finally according to the document of the Ministry of Finance of the Czech Republic and the Czech National Bank, that has been evaluating the fulfillment of the Maastricht Convergence criteria from the year 2004.
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Nominal and real convergence of the Czech Republic in relation to EMU
Klátová, Jana ; Plchová, Božena (advisor) ; Korandová, Jiřina (referee)
The diploma thesis evaluates nominal and real convergence of the Czech Republic in relation to its future entry to euro area. First chapter focuses on process of creating the Economic and Monetary Union and description of convergence and its function during the implementation of euro. In the second chapter the Czech monetary integration process is defined. The third and forth chapters contain evaluation of convergence of the Czech Republic. In the last chapter there is a comparison of the Czech Republic and Slovakia, especially the common and different trends in approaching the process of monetary integration.
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Processes of real and nominal convergence in enlarged EU
Mikulka, Jakub ; Bič, Josef (advisor) ; Abrhám, Josef (referee)
This bachelor thesis deals with real and nominal convergence in the European Union. Particular attention is devoted to differences in convergence processes between New and Old Member States of the European Union. Beta and sigma convergence is tested at the levels of states, regions NUTS 1 and NUTS 2 during period 1995-2006. The results are put in theoretical background of Solow-Swan model and New Economic Geography. Furthermore, Balass-Samuelson effect and his incidence is presented.
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Slovakia: macroeconomic development in the context of accession to the euroarea
Repaská, Lucia ; Abrhám, Josef (advisor) ; Bič, Josef (referee)
The aim of the work is to evaluate the process of nominal and real convergence in Slovakia. Furthermore, the introduction is addressed the macroeconomic development since the beginning of the separate state and evaluates it in the context of the accession to the euroarea. After posttransformating stabilization Slovakia was unable to start the successful economic development. Thanks to the adoption of restrictive measures and several reform steps since 1998 Slovakia managed to achieve a gradual healthy economic growth and improvement of macroeconomic indicators, which culminated in 2008. However in the end of the year hit Slovakia the first sign of cooling due to global economic crisis and because of this fact the work offers a short view of the fortcomming uncertain future. Nominal convergence represents within the European union the Maastricht criteria, Slovakia fullfilled them in March 2008 with caution. The real convergence is evaluated in the light of the indicator of GDP per capita in purchasing power parity, which development has seen in recent years a remarkable increase in Slovakia. Adoption of the common european currency does not mean to meat the formal Maastricht criteria but also requires the adoption of the various substantive aspects, such as Slovakia National Plan for euro.
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The economy of Spain and its position in the European Union
Hlávková, Eva ; Jeníček, Vladimír (advisor) ; Jelínek, Jiří (referee)
The aim of the thesis is to assess the economy of Spain and its position in the European Union. The European integration processes significantly influenced the development of democracy in Spain as a member state of EU. The period after Franco regime would last undoubtedly much longer and it would grow less dynamically without these processes. The influence of EU affected not only the Spanish economy, but also the current position of Spanish monarchy in Europe and in the whole world. The thesis is structured in three main parts. To be able to assess the Spanish economy during its membership in the EU, it is essential to study the procedures of negotiations between the candidate country and the Community. That is the reason why the first part is engaged in the pre-entry phase. The second part examines in detail the development of the economy after the reintroduction of democracy in the country. It deals mainly with the macroeconomic tendencies, their causes together with consequences. The progress concerns the economic situation in Spain before the entry to the Community, in the second half of eighties, as well as during the nineties. The thesis does not forget to be engaged in the current situation in the new millennium and it also outlines the possible development in the following years. The last part is devoted to the position and the influence of Spain on the main integration directions in the European Union. The coherence and the extent of evaluation can be considered one of the benefits of this work. The thesis introduces the complex view of the Spanish economy since the entry to the EU. It also deals with possible following tendencies. The understanding of the development is facilitated by a large number of graphs and tables, which help to outline the essence of the topic.
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Ready for Euro?
Staňková, Andrea ; Urban, Luděk (advisor) ; Potužák, Pavel (referee)
Recently, there has been a broad discussion regarding the timing of joining the Euro zone. The mainstream opinion is that the sooner the Czech Republic joins, the better. However, as this thesis indicates, especially the econometric model, the Czech Republic is not ready for doing so. Hence, an early accession may not be beneficial.
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