4 - Implications of EMU Enlargement for European Monetary Policy:

Wetenschappelijke publicatie
Date 1 May 2002

In this paper we investigate the implications of EMU enlargement from a political economy perspective. We argue that a high degree of convergence of the candidate countries prior to EMU accession is an important req-uisite. Otherwise, as a result of a sharp increase in economic dispersion, public support for European monetary policy is likely to decrease, and external pressure on the European Central Bank will mount. Keywords: EU Enlargement, Economic Convergence, Political Economy JEL codes: E58, E50, D78