Abstract:
This article studies the joint effects of the 2004 European Union (EU) Enlargement and Russia's entry into the World Trade Organization (WTO), and the effects of an eventual Russia-enlarged EU free trade agreement (FTA). The model is described, the effects of the 2004 EU enlargement are estimated, the effects of Russia's WTO accession and of various Russia-EU FTAs are simulated based on the benchmark of an enlarged EU, and conclusions are presented.