Eastern Enlargement of the European Union - Transition in applicant countries and evaluation of the economic prospects with a dynamic CGE-model

Risto Vaittinen

No 64, Research Reports from VATT Institute for Economic Research

Abstract: In this study the economic implications of eastward enlargement are analyzed using a multi-regional, dynamic general equilibrium model. EU's eastern enlargement is, in one respect, conventional regional integration where new entrants joins a customs union. In the common trade policy an important aspect is the specific features of the common agricultural policies of the EU. Enlargements also entails the adoption of common market institutions and legislation for the new entrants. This aspect of integration consolidates the reforms that has been taken place in the former planned economies in Central and Eastern Europe. Membership in EU provides also unconditional access to European common markets. These facts are expected to increase the business confidence in the area and lower the required rate of return on investments, which will stimulate growth in the new members.

Keywords: Integration, Common Markets, Trade policy, Eastern Enlarge-ment, CGE modeling., Economic growth, Taloudellinen kasvu, International comparisons, Kansainväliset vertailut, Taxation and Social Transfers, Julkisen talouden rahoitus ja tulonsiirrot, D580 - Computable and Other Applied General Equilibrium Models, F020 - International Economic Order; Noneconomic International Organizations; Economic Integration and Globalization: General, F130 - Commercial Policy; Protection; Promotion; Trade Negotiations; International Trade Organizations, F150 - Economic Integration, (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (5)

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