In their transition from the legacy of Communism, Central and Eastern European countries (CEECs) are seeking to reduce the income gap that remains the major barrier to full European integration. The essays in this 1997 volume derive from a conference held at the American Institute for Contemporary German Studies in Washington DC, on May 15–16 1995, and present general equilibrium calculations of the world wide effects of trade liberalization between CEECs and the European Union (EU) on real wages and welfare; analysis of trade in 'sensitive' sectors; and measurement of Germany's role in the transition. Simulations analyse the effects of CEEC macroeconomic policies on the transition process. Other essays examine the effects of privatization, labour migration from the East, and alternative approaches to integration of CEECs into the EU, including quick entry, variable geometry and free trade area. Economists and policy-makers will value the collection's innovative quantitative assessments and presentation of distinct alternatives.
1. Introduction Stanley Black; Part I. Trade Relations: 2. An economic assessment of the integration of Czechoslovakia, Hungary, and Poland into the European Union Drusilla Brown, Alan Deardorff, Simeon Djankov and Robert Stern; Comments J. David Richardson and L. Alan Winters; 3. Potential trade with core and periphery: industry differences in trade patterns Hari Vittas and Paulo Mauro; Comment Susan M. Collins; 4. Impact on German trade of increased division of labor with Eastern Europe Dieter Schumacher; Comments Wolfgang Maennig and Ellen Meade; Part II. Investment Patterns: 5. Investment and its financing during the transition in Central and Eastern Europe Stanley Black and Mathias Moersch; Comments Holger Wolf and Douglas Todd; 6. Privatization, structural change and productivity: towards convergence in Europe? Paul J. J. Welfens; Comments Bruce Kogut and Jan Mládek; Part III. Labor Market Issues: 7. Integrating the East: the labor market effects of immigration Thomas Bauer and Klaus Zimmerman; Comments Barry Bosworth and Robert LaLonde; Part IV. The Process of Integration: 8. Joining the club: options for integrating Central and Eastern Countries into the European Union Michael Koop; Comments Barry Eichengreen and Hans-Jürgen Vosgerau; Index.