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Theoretical and Applied Economics
No. 2 / 2006 (497)

Romania's Dilemmas in Perspective of EMU Integration

Cristian Socol
Aura Niculescu
Academy of Economic Studies, Bucharest

Abstract. Our study evaluates the trade-off between real and nominal convergence in transition countries relating European integration (case of Romania). The potential conflict between Maastricht criteria and the possibility to obtain a faster real convergence with the European Union countries is explained with Ballassa-Samuelson effect. In addition, according this effect, we study the monetary policy regimes for Romanian authorities in perspective of the future admittance in Exchange Rate Mechanism II (ERM II).

Keywords: integration; nominal convergence; real convergence; Ballassa-Samuelson effect; ERM II.

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ISSN 1841-8678 (ediția print) / ISSN 1844-0029 (ediția online)
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