Preferencje help
Widoczny [Schowaj] Abstrakt
Liczba wyników
2010 | 239 The Mechanism of Functioning of EMU Euro Zone Enlargement - the New Members' Perspective | 43--54
Tytuł artykułu

The Prospects of Polish Membership in the EMU on the Background of Global Recession 2007-2009

Treść / Zawartość
Warianty tytułu
Języki publikacji
Global recession of 2007-2009 has had a significant impact on the Eurozone functioning and has aroused much controversy over the monetary union membership of the new countries (including Poland) as well as the legitimacy of the monetary union formation by countries of different development levels and different degrees of fiscal discipline. Should Poland pursue full membership in the Economic and Monetary Union? If the answer is yes, then the question arises "when"? How should economy and the state get prepared for this move? There are no unambiguous answers to these questions. The aim of this paper is to outline possible answers and, first of all, to formulate problems for the discussion. The experience of the Eurozone countries from the period of 2007-2009 indicate that the economies which fulfilled the nominal convergence criteria in an "artificial" way, i.e. without thorough reforms in the area of public finance, markets - including labour market - have incurred high costs of the recession in the situation when they have neither their own currency not monetary policy. Poland's full membership in the Economic and Monetary Union should be preceded by thorough reforms consisting in market (including the labour market) deregulation and liberalisation and the public finance reform. In the case of public finance the changes which are necessary refer to both reducing expenditure and taxes. The change in the public expenditure structure is also indispensable. (original abstract)
  • Politechnika Radomska im. Kazimierza Pułaskiego
  • 1. Alesina A., Perotti R., Fiscal Adjustment in OECD Countries: Composition and Macroeconomic Effects, NBER Working Paper No 5730, Cambridge ,August 1996.
  • 2. Barczyk R., Kąsek L., Lubiński M., Marczewski K., Nowe oblicza cyklu koniunkturalnego, PWE, Warszawa 2006. p
  • 3. Buiter W.H., Macroeconomic Policy During a Transition to Monetary Union, Centre for Economic Policy Research, August, No 1222, 1995.
  • 4. Bukowski S., Teoretyczne podstawy i realizacja unii monetarnej krajów członkowskich Wspólnot Europejskich. Szanse i zagrożenia dla Polski, Wydawnictwo Politechniki Radomskiej, Radom 2003.
  • 5. De Grauwe P., The Economics of Monetary Integration, wyd. 3 uzup., Oxford University Press, Oxford 1997.
  • 6. De Grauwe P., Unia walutowa. PWE, Warszawa 2003.
  • 7. Demertzis M., Hallet A.H., Rummel О., Is the European Union a Natural Currency Area, or Is It Held Together by Policy Makers?" Weltwirschaftliches Archiv. Review of World Economies, Band 136, 2000, Heft 4.
  • 8. Easterly W., Rebelo S., Fiscal Policy and Economic Growth: An Empirical Investigation, NBER Working Paper, No 4499, Cambridge, October 1993.
  • 9. Frankel J.A., Rose A.K., The Endogenity of the Optimum Currency Area Criteria, CEPR, Discussion Paper Series, No J 473, 1997.
  • 10. Gavazzi F., Pagano M., Сап Severe Fiscal Contractions Be Expansionary? Tales of Two Small European Countries, NBER Working Paper No 3372, Cambridge 1990.
  • 11. Grubel H.G., International Economics, Homewood, Illinois 1977.
  • 12. Grubel H.G., The Theory of Optimum Currency Areas, ,.Canadian Journal of Economics". May 1970.
  • 13. Kenen P.B. , The Theory of Opium Currency Areas: an Eclectic View, (w:) R.A. Mundell, A.K. Swoboda (red.) , Monetary problems of the International Economy, Chicago University, Chicago 1970.
  • 14. Krugman P.R., Currencies and Crises, The MIT Press Cambridge, London 1999.
  • 15. Krugman P.R., Obstfeld M. , International Economics. Theory and Policy, wyd. 5, Addison
  • 16. Magnifico G., European Monetary Unification for Balanced Growth: a New Approach, Princeton University Press, Princeton 1971.
  • 17. McKinnon R.I. , Optimum Currency Areas, "The American Economic Review" Vol. 53, September 1963.
  • 18. Minsky H.P., The Financial Instability Hypothesis, " The Jerome Levy Institute of Bard College Working Paper, No 74, Blithewood. May 1992.
  • 19. Mortimer-Lee, Czy Euroland może funkcjonować przy jednej stopie procentowej? (w:), I P. Temperton (red.), Euro. Wspólna waluta, Feldberg, SJA, Warszawa 2001.
  • 20. Mundell R., A Theory of Optimum Currency Areas, "The American Economic Review" I Vol. 53, September, 1961.
  • 21. Raport o konwergencji, Europejski Bank Centralny, Maj 2010.
  • 22. Rzońca A., Czy Keynes się pomylił? Skutki redukcji deficytu w Europie Środkowej, Wydawnictwo SCHOLAR, Warszawa 2007.
  • 23. The National Bank of Polanďs Report on full membership of the Republic of Poland in the third stage of the Economic and Monetary Union, NBP, Warszawa 2009.
  • 24. Wood G.E., European Monetary Union and the U. K. - A Cost Benefit Analysis, "Surrey Papers in Economics" No 3, September, University of Surrey, Guildford 1973.
Typ dokumentu
Identyfikator YADDA

Zgłoszenie zostało wysłane

Zgłoszenie zostało wysłane

Musisz być zalogowany aby pisać komentarze.
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.