Exchange Rate Regimes in Central, Eastern and Southeastern Europe: A Euro Bloc and a Dollar Bloc?

2017 ◽  
Author(s):  
Slavi Slavov
Equilibrium ◽  
2010 ◽  
Vol 4 (1) ◽  
pp. 37-49
Author(s):  
Dorota Zbierzchowska

It is characteristic for the countries of Central-Eastern Europe to employ a great variety of exchange rate regimes: by resigning from their own currency and participating in monetary unions through the systems of currency board arrangement; by employing the systems of conventional fixed pegged arrangements; and by the floating systems. In the situation of global financial crisis and liberalization of capital flow in the Central-Eastern Europe countries profits and dangers of using certain solutions in the scope of exchange rate are clearly visible. The aim of this paper is to present theoretical profits and costs of utilizing various kinds of exchange rate regimes and their consequences for the autonomy of monetary policy. The paper also compares contemporary economical situation of the Central-Eastern European countries, what allows the author to indicate those countries, where the limitations stemming from the accepted system of exchange rate had negative consequences for the condition of their economy in general.


2011 ◽  
Vol 2 (1) ◽  
pp. 7-28
Author(s):  
Dorota Żuchowska

Among the Central-Eastern Europe countries which joined the European Union in 2004 only three – the smallest (Slovenia, Slovakia and Estonia) – joined the Eurozone. Within these economies the process of currency integration was diversified in respect to their previously used systems of exchange rate regimes. Also experiences concerning suppressing inflation and meeting the condition of prices stability varied among them. The aim of this article is to answer the question whether the mode of the applied exchange rate regime has an impact on achieving economical convergence with the Eurozone. I shall compare exchange rate regimes in Slovenia, Slovakia and Estonia in the period preceding joining the Eurozone. I shall also examine formation of inflation processes within the conditions of various exchange rate regimes existing in the analyzed countries as well as influence of the employed exchange rate regime policy on satisfying the criteria of convergence by those economies.


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