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Uneven Integration: Economic and Monetary Union in Central and Eastern Europe
Author(s) -
EPSTEIN RACHEL A.,
JOHNSON JULIET
Publication year - 2010
Publication title -
jcms: journal of common market studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.54
H-Index - 90
eISSN - 1468-5965
pISSN - 0021-9886
DOI - 10.1111/j.1468-5965.2010.02111.x
Subject(s) - credibility , independence (probability theory) , central bank , european monetary union , economic and monetary union , monetary policy , european union , economic union , international economics , economics , economic policy , political science , international trade , monetary economics , statistics , mathematics , law
Although central and eastern European states widely adopted central bank independence in the 1990s, many later baulked at meeting the Maastricht criteria and adopting the euro. We employ two key variables – regime and institutional discontinuity at the domestic level and the credibility of international institutions' policies – to explain these different responses to the requirements of economic and monetary union.