The Effects of Entering the Eurozone on other Central and Eastern European Countries in Relation to Poland
Janusz Heller, Rafal Warzala
Klíčová slova
the Eurozone, euro, economic convergence, macroeconomic competitiveness, β- and σ-convergence
Abstrakt:
The aim of the article is to compare the major economic indicators relatively new EU members
Estonia, Latvia, Lithuania, Slovakia, Slovenia who have joined the Eurozone with Polish
macroeconomic indicators. The results also reflect economic changes that took place in these
countries after joining the Eurozone in the context of economic convergence as well as competitiveness.
The analysis is based on Eurostat data and encompasses the period of 2005-2017. In
order to verify the process of economic convergence among these Central and Eastern European
countries and the EU 12, both the hypotheses of absolute β-convergence and σ-convergence
were verified. To this end, suitable econometric equations were formulated, and comparative
analyses were carried out. The results obtained demonstrate that the position of countries after
joining the Eurozone varies from nation to nation. Latvia and Lithuania joined the Euro only
a few years ago (2014 and 2015, respectively), thus the long term effects are not yet clear. In the
other countries researched, however, macroeconomic indicators of stabilization can be observed
after their entrance into the Eurozone. In this context, Poland’s economy also seems to be stable,
although it remains out of the Eurozone. All the countries researched appear to have experienced
growing β- and σ-convergence with the European Union core (EU 12).
Celý článek ke stažení:
 The Effects of Entering the Eurozone on other Central and Eastern European Countries in Relation to Poland [PDF soubor] [Velikost souboru: 512.06 KB]
 10.7441/joc.2019.01.01
Heller, J., Warzala, R. (2019). The Effects of Entering the Eurozone on other Central and Eastern
European Countries in Relation to Poland. Journal of Competitiveness, 11(1), 5–21. https://doi.org/10.7441/joc.2019.01.01
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