Comparative study on the stage for the fulfilment of the convergence criteria by Romania and the countries of Central and South-Eastern Europe

Abstract

Through this article we aim to make a comparative analysis on the degree of achievement of the five nominal convergence criteria laid down by the Treaty of Maastricht, by the following member of Central and South-Eastern Europe (ECSE): Bulgaria, Poland, the Czech Republic and Hungary. The convergence criteria to be analyzed are the following: the criterion of sustainable stability of prices, the criterion of the budget deficit, the criterion of the public debt, the criterion of convergence of the interest and the criterion in the exchange rate. In the second part of the study, we have examined the extent to which the Member above, (to which we add and Romania) have fulfilled the convergence criteria. The criteria to be analyzed are: the level of per capita GDP/ calculated in purchasing power parities, labor productivity, the degree of the opening of the economy, the share of the main economic sectors in GDP and the share of the bilateral trade with the EU in total trade. JEL: P 34, P 39