Lessons to be Learnt from Earlier Accessions1

Kazimierz Laski and Roman Römisch

Chapter 8 in Shaping the New Europe, 2004, pp 219-245 from Palgrave Macmillan

Abstract: Abstract There is a vast body of literature on the topic of the EU’s eastward enlargement and the lessons that the five accession countries in Central and Eastern Europe (the Czech Republic, Hungary, Poland, Slovenia and Slovakia) can learn from the experience of the four cohesion countries (Ireland, Greece, Portugal and Spain).2 At the centre of these investigations are the supply-side effects of enlargement, mostly in a general equilibrium type of analysis. As a rule they neglect demand-side effects, although supply and demand are the two poles of every economic process. This chapter will take a more balanced approach in respect of capital inflows, especially foreign direct investment (FDI). Thus the first question to be addressed is the influence of capital inflows on the size of GDP and the external position of the cohesion countries. The second question is only indirectly related to the first and deals with the impact of EU accession on the growth of the cohesion countries and their convergence with the EU average. In both cases we shall look for conclusions that can be drawn with regard to the accession countries.

Keywords: Foreign Direct Investment; Current Account; Foreign Trade; Trade Balance; Capital Inflow (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-52369-2_9

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DOI: 10.1057/9780230523692_9

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