New Business Education - Ново образование за бизнис

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CONVERGENCE OF A TRANSITION ECONOMY TO EMU – A CASE STUDY OF SLOVENIA

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The paper analyses the process of growth and convergence of the Slovenian economy before and after EMU accession. This small and relatively open economy has long been considered the model economy regarding its’ successful transition management and the accession into the European monetary union. But after the bailout of several peripheral EMU economies, it is the sixth economy that has entered crises and recession. Strict nominal Maastricht criteria have slowed down economic growth and convergence in the process of EMU accession. Euro introduction has worsened Slovenia’s competitive position leading to increased level of debt that brought Slovenia from model EMU economy to one of the peripheral indebted EMU economies that endangers the sustainability of the euro zone itself.

 

The paper was prepared by Biljana Avramovska, MSc. and published as the fifth edition of the Journal of Sustainable Development.

 

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