Browsing by Subject "Monetary Unions."

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    The Concept of monetary union and the European Monetary System
    (1989) Makarnacı, Nejat
    This research analyzes the concept of the monetary union and the European Monetary System (ENS). It consists of three parts. The first part starts by covering the concept of monetary union and the theoretical conditions that may contribute to the success of a monetary union, and ends by defining the EMS studying the motives for its development. The second part studies the functioning of the ENS from a technical point of view. It does this by dealing with the exchange rate and intervention mechanism, the European Currency Unit (ECU), and the existing credit mechanisms. The third part of this research tries to evaluate the perfomance of the EMS. Firstly, it studies the stability of exchange rates as a first step in achieving a monetary union. Next, it reviews the convergency of economic variables that have either direct or indirect effect on the exchange rate variability. Finally, this research lookes at the higher growth and employment objectives of a monetary union through increased intra—union trade
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    Implications of the European Monetary System for Turkey
    (1989) Tamer, Akın
    The objective of this study is to analyze the economic differences between Turkey and the members of European Monetary System, and discuss the membership with its costs and benefits and structural constraints. According to the comparisons in terms of inflation level, GNP, competitiveness, exchange rate regime, structure of labor force, there are gaps between Turkey and member countries of the EMS. When those economic differences, structural constraints and their impacts on the Turkish economy are considered, Turkey should not consider membership to the EMS