Globalization and European Integration: A Central European Perspective

László Csaba ()
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László Csaba: Department of International Relations/CEU, Central European University Vienna, 1100 Vienna, Austria

JRFM, 2025, vol. 18, issue 2, 1-16

Abstract: Two decades after the biggest ever enlargement of the European Union, post-transition countries face a series of challenges, posed primarily by de-globalization and growing illiberalism. Declining European competitiveness, as highlighted by the Draghi Report (2024), calls for major restructuring both regionally and community-wide. This invited survey article attempts to solve a puzzle: if Europeanization has not been very successful, how could it promote globalization? Furthermore, Central Europe counts as a success story, both in terms of convergence and in terms of stabilizing west Europe’s previously restive neighborhood. Sustaining this success is not automatic. We posit the two main conditions. These are: more focus on Ordnungspolitik (single market, competition policy, and capital markets union) and de-emphasis of re-distrubution (CAP and Cohesion). We also show why and how Central Europe will decide the future of the EU and the ways it can cope with globalization.

Keywords: economic integration; economic development; growth and innovation; globalization; internationalization; global governance; capital markets; banking supervision; industrial policy (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2025
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