The accession of ten new members to the European Union on May 1st 2004 was among the most significant developments in the history of European integration. Based upon studies conducted by the European Forecasting Network, this 2006 book analysed key aspects of the impact of this enlargement with reference to eight of the ten new Member States, namely the Central and Eastern European countries (CEECs). It demonstrated that the enlargement had the potential to create profound consequences for both the new Member States and the pre-accession members of the Union, given the unparalleled magnitude of the enlargement, the fact that the CEECs had levels of prosperity and economic development well below the Union average, and their history of participation in centrally planned regimes. The contributions examined regional policy, the debate about accession to the EMU, the macroeconomic trajectories of the Central and Eastern European economies and their likely development.
• Highly topical analysis of the economic impact of the 2004 EU enlargement • Comprehensive overview from a thematic perspective • Provides a wealth of background material on the economies of the Central and Eastern European countries
List of figures; List of tables; Notes on contributors; Acknowledgements; Introduction Michael Artis, Anindya Banerjee and Massimiliano Marcellino; 1. New member states: macroeconomic outlook and forecasts Emilio Rossi and Zbyszko Tabernacki; 2. The asymmetric impact of enlargement of old and new Member States: a general equilibrium approach Mohamed Hedi Bchir, Lionel Fontagné and Paolo Zanghieri; 3. Changes in the spatial distribution patterns of European regional activity: the enlargements of the mid-1980s and 2004 Toni Mora, Esther Vayá and Jordi Suriñach; 4. Forecasting macroeconomic variables for the new Member States Anindya Banerjee, Massimiliano Marcellino and Igor Masten; 5. The cyclical experience of the new Member States Michael Artis, Massimiliano Marcellino and Tommaso Proietti; 6. Demand and supply shocks in the new Member States Raúl Ramos and Jordi Suriñach; 7. Monetary transmission in the new Member States Raúl Ramos and Jordi Suriñach; 8. Promoting fiscal restraint in three Central European Member States Emilio Rossi and Zbyszko Tabernacki; 9. Current accounts dynamics in new Members State Paolo Zanghieri; 10. Challenges to banking sector stability in selected new Member States Charles Movit; 11. Infrastructure investments as a tool for regional development policy: lessons from the Spanish evidence Rosina Moreno, Enrique López-Bazo and Manuel Artis; 12. TFP, costs and public infrastructure: an equivocal relationship Eliana La Ferrara and Massimiliano Marcellino; 13. Regional policies after the EU enlargement Michele Boldrin; Index.
Review of the hardback: 'The economic impacts of the recent enlargement of the European Union on both old and new member states have come to the forefront of political debate across Europe. This timely volume brings clear-headed depth to the subject, with its valuable and well-grounded analyses that draw on state-of-the art research by an international team of economists.' Helen Wallace, Director, Robert Schuman Centre for Advanced Studies, European University Institute
Review of the hardback: 'This is a very useful book, containing a wealth of facts and insightful analysis on the economic structure of Central and Eastern European countries. I am sure the book will become standard reference for the policy discussion on how to respond to the challenges that these countries are facing with membership of the European Union and the European Monetary Union.' Lucrezia Reichlin, Director General Research, European Central Bank
Review of the hardback: 'This book presents a thorough analysis of some of the most pertinent issues in the process of economic integration of the recently acceded Member States. It is a very timely and welcome contribution in a research area of high policy relevance.' Juergen Kroeger, European Commission