04320oam 22010094 450 991078852480332120230829002208.01-4623-8815-91-4519-9945-31-282-44825-097866138214471-4519-0836-9(CKB)3360000000443182(EBL)3014413(SSID)ssj0000942098(PQKBManifestationID)11601439(PQKBTitleCode)TC0000942098(PQKBWorkID)10964409(PQKB)11453495(OCoLC)698585707(MiAaPQ)EBC3014413(IMF)WPIEE2006040(EXLCZ)99336000000044318220020129d2006 uf 0engur|n|---|||||txtccrMacroeconomic Challenges with EU Accession in Southeastern Europe : An Overview /Piritta SorsaWashington, D.C. :International Monetary Fund,2006.1 online resource (27 p.)IMF Working Papers"February 2006."1-4518-6300-4 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. STATUS OF EU ACCESSION IN SEE""; ""III. PROGRESS IN ESTABLISHING A MARKET ECONOMY AND REAL CONVERGENCE ""; ""IV. NOMINAL CONVERGENCE�MONETARY AND FISCAL FRAMEWORKS AND STABILIZATION""; ""V. CONCLUSIONS""; ""References""The paper reviews key macroeconomic challenges with EU accession in Southeastern Europe (SEE). Most of the countries in the region are years away from EU accession and need substantial progress to meet the key macroeconomic criteria-the establishment of a functioning market economy and macroeconomic stability. The former calls for further structural reforms. While macroeconomic stability is essential throughout the EU accession process, the importance of specific outcomes increases in the last stage of accession, when countries face decisions to apply for entry into the ERM2 and the Maastricht criteria (Bulgaria and Romania). The main challenges with establishing macroeconomic stability in other countries are related to sustainability of their monetary frameworks, risks from rapid financial deepening, and further fiscal consolidation to support growth and stabilization. Most of the SEE countries have room to lower public spending and increase the share of pro-growth spending.IMF Working Papers; Working Paper ;No. 2006/040Monetary policyEuropeFinance: GeneralimfInflationimfMacroeconomicsimfMoney and Monetary PolicyimfPublic FinanceimfMonetary PolicyimfInstitutions and the MacroeconomyimfFiscal PolicyimfPrice LevelimfDeflationimfGeneral Financial Markets: General (includes Measurement and Data)imfMonetary economicsimfFinanceimfExchange rate anchorimfStructural reformsimfFiscal policyimfCompetitionimfMonetary policyimfPricesimfEuropeEconomic integrationRomaniaimfMonetary policyFinance: GeneralInflationMacroeconomicsMoney and Monetary PolicyPublic FinanceMonetary PolicyInstitutions and the MacroeconomyFiscal PolicyPrice LevelDeflationGeneral Financial Markets: General (includes Measurement and Data)Monetary economicsFinanceExchange rate anchorStructural reformsFiscal policyCompetitionMonetary policyPricesSorsa Piritta1462127DcWaIMFBOOK9910788524803321Macroeconomic Challenges with EU Accession in Southeastern Europe3670969UNINA