THE LABOUR PRODUCTIVITY-AN IMPORTANT CRITERION OF REAL CONVERGENCE IN THE PROCESS OF ADOPTING THE EURO CURRENCY. A CASE STUDY ON ROMANIA’S LABOUR MARKET

RATIU (Scutelnicu) Mina Raluca, Babes-Bolyai University, Cluj-Napoca, Romania

Abstract:
In the context of a new deadline for the euro adoption, 2024, the purpose of this paper is to highlight how important is the labour productivity as a criterion of real convergence. Unlike the well-defined nominal convergence criteria, there are some indicators such as GDP/capita, the productivity and the cost of labour, the openness of the economy that best define how close to the rest of the states of the European Union and the Euro-zone is the economy of a country in terms of the standard of living, the competitiveness and the efficiency of the economy as a whole.

Keywords: Euro-zone, nominal and real convergence criteria, the labour productivity, euro currency

JEL Classification: E52, E50, J01, J24

Volume: 71, Issue: 3

Pages: 91 - 103

Publication date: November, 2019

Download the article: http://economice.ulbsibiu.ro/revista.economica/archive/71307ratiu.pdf

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