Croatia's entry into ERM2 and the monetary union, according to the author, is not possible in the short term, but rather represents a long-term goal.
A new book by VERN's lecturer , Assoc. Prof. Dr. Sc. Dubravko Radošević, co-authored with Dr. Sc. Stjepan Zdunić – "The Trilemma of the Open Economy: European Semester, Balance of Payments, Exchange Rate and Economic Growth of Croatia" has been published by Jesenski i Turk.
Essentially, this book proposes a compromise between structural reforms and exchange rate flexibility. The authors emphasize that Croatia must use its monetary sovereignty to achieve strategic development goals such as full employment and dynamic economic growth, at the level of the potential economic growth rate. Only in this way can the negative trends of low employment, youth emigration, depopulation, deindustrialization, and low growth rates be stopped.
Croatia's entry into ERM2 and the monetary union, in the author's opinion, is not possible in the short term, but rather represents only a long-term goal, while in the transitional period of ten years, a reform of the financial sector and a complex reform of the structure of the Croatian economy are necessary, which would direct Croatia onto a path of dynamic economic growth in the medium and long term.
The book is intended for everyone who is interested in understanding the relationship between monetary policy and the economy and the practical implementation of monetary policy in a complex economy such as that of the European Union.
You can find more detailed information about the book and the author HERE .
