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THE IMPACT OF ACCESSION TO THE EUROPEAN UNION ON PERCEPTIONS RELATED TO BUSINESS RISKS IN CENTRAL AND EASTERN EUROPE. A DISTANCE-TYPE ANALYSIS

Cristian Paun (), Alina Chiciudean (), Alina Draghici (), Costea Munteanu () and Radu Musetescu ()
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Alina Chiciudean: Academy of Economic Studies, Bucharest
Alina Draghici: Academy of Economic Studies, Bucharest
Costea Munteanu: Academy of Economic Studies, Bucharest
Radu Musetescu: Academy of Economic Studies, Bucharest

Authors registered in the RePEc Author Service: Radu Cristian Musetescu ()

Journal for Economic Forecasting, 2008, vol. 5, issue 4, 125-145

Abstract: The purpose of this paper is to investigate the impact of 2004 accession to the European Union on perceptions related to business risks in Central and Eastern European countries. The investigation makes use of the data provided by the Regular Reports on Global Competitiveness published annually by the World Economic Forum. Methodologically, our analysis requires the estimation of an average for the core of 15 member states of the European Union (EU 15) for each individual pillar considered to describe properly the business environment. In doing so, it is possible to measure the convergence – in terms of a distance-type analysis – of the new member states with the average of EU 15, prior and after the accession, comparatively. In addition, based on a k-means clustering technique, we investigate similarities between the same countries, as well as the convergence of different groups of countries with the group which contains this average.

Keywords: business risk; convergence; clusters; Eastern European Enlargement (search for similar items in EconPapers)
JEL-codes: F02 F15 F23 D81 (search for similar items in EconPapers)
Date: 2008
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