SPECIAL ISSUE
CONTENTS
  • Section A) The theory and practise of the federal states and multi-level systems of government
  • Section B) Global governance and international organizations
  • Section C) Regional integration processes
  • Section D) Federalism as a political idea
    • Tori Cynthia Royal, Tori Scott Leander
    European Union Expansion and the Euro: Croatia, Iceland and Turkey
    in International Journal of Business and Social Science , Volume 5, Number 13, December ,  2014 ,  13-18
    This paper uses real exchange rate variability and the adjustment time for real exchange rate changes to assess the viability of adopting the euro for the nine European countries. The results suggest that Croatia and Lithuania are the only European Union countries that have convergence and minimal real exchange rate volatility when shocks occur. The persistence of real exchange rate changes and slow adjustment times suggest that the viability of euro zone membership for Bulgaria, the Czech Republic, Hungary, Poland, and Iceland requires greater integration. The results also indicate that the costs associated with adopting a common currency are high for Romania and Turkey. Full text available at http://ijbssnet.com/journals/Vol_5_No_13_December_2014/2.pdf
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