Home Part 2 THE WAY TOWARD EUROISATION OF THE ALBANIAN ECONOMY

 

THE WAY TOWARD EUROISATION OF THE ALBANIAN ECONOMY

 

 

Majlinda Bello, Mirela Cini*, Frederik Çucllari

Faculty of Economics, ‘Fan S. Noli’ University, Korce, Albania

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Abstract

This paper focuses on the process of euroisation of the Albanian economy. Like any other process, even euroisation has its benefits and costs. The prevailing opinion is that the advantages of euroisation, at least for a short period, are profoundly evident especially in developing countries where aspirations for EU entry are great. The Albanian economy has experienced the financial euroisation since 1992. Considering the actual conditions, for Albania, an alternative to be considered would be the unilateral euroisation. Costs and benefits of unilateral euroisation are related to each-other, but in the case of Albania, they tend to benefit especially from a considerable expansion of trade. We all understand that the road towards European integration will pass through the euroisation of the economy. The question that arises is not if will be the Albanian economy euroised but when this will happen.

Key words: euroisation, optimum currency area, integration, Albania.

JEL Classification: F15, F33, F36

 

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