| Macroeconomic aspects of Croatia’s accession to the European Union (2005) | |||||||
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| Chapter MACROECONOMIC ASPECTS CROATIA ACCESSION THE EUROPEAN UNION Dubravko Mihaljek Bank for International Settlements Basel The one lesson that emerges the need keep trying miracles perfection millennium apocalypse must cultivate sceptical faith avoid dogma listen and watch well try clarify and define ends the better choose means David Landes The Wealth and Poverty Nations ABSTRACT This paper analyses the main macroeconomic conditions for joining the and the European Monetary Union EMU the readiness the Croatian economy meet these conditions and the main challenges for economic policy the road these integrations Croatia does not lag significantly behind the other CEE countries fulfilling the criteria for and EMU membership has certain advantages with respect the criteria macroeconomic stability with the exception the budget deficit investment efficiency and potential growth However delays the implementation some structural reforms particular the development securities market The views expressed here are those the author and not necessary represent those the BIS The author taking part this project independent researcher would like thank anonymous reviewer for helpful comments and suggestions are estimated about four years The main challenges for economic policy the run and EMU are expected reducing the budget deficit and stabilising the public debt Moreover macroeconomic policies should remain prudent strengthen external stability and maintain favourable conditions for growt | |||||||
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