Endogenita kritérií OCA v procesu evropské měnové integrace na příkladě Španělska, Portugalska a Řecka

Abstract

The aim of this master’s thesis is to verify possible application of the hypothesis of endogenity of optimum currency area criteria on countries Spain, Portugal and Greece. This hypothesis claims that these criteria don’t have be necessary fulfill before the entrance to monetary union. Former research proved that entrance to monetary union has significant positive influence on mutual trade and other criteria also. The aim of this thesis was performed through correlation analysis of business cycles between chosen countries and Germany. Findings are that endogenity hypothesis cannot be verified on cases of Greece and Portugal. In case of Spain there is an evidence of continuous growth of correlation of business cycle with Germany.