TOWARDS SUSTAINABLE ECONOMIC CONVERGENCE: COMPARATIVE ANALYSIS OF MACROECONOMIC SITUATION IN LITHUANIA, NEW AND OLD EURO ZONE COUNTRIES

Year 2011, Volume: 3 Issue: 1, 365 - 374, 01.06.2011

Rasa Balvočiūtė Solveiga Skunčikienė

Abstract

This article represents the study of macroeconomic dynamics of Lithuania in 2004 - 2010, new (Slovakia and Estonia) and old Euro zone members. It was found that some countries had furiously tried to improve macroeconomic situation before introduction of the euro. When countries switched to, euro has been suspended due to extensive measures to improve economic situation. It was also found that in Estonian case the convergence was coherent and after switching to euro zone, economy of this country escaped the disruptive changes. This study is important not only for economic countries’ analyses but also for Lithuania and other countries which seek to introduce euro in the coming years

Keywords

criteria of the Maastricht agreement, Euro zone, sustainable convergence

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