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How accession to the European Union has affected external trade and foreign direct investment in Central European economies

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Author Info
Kaminski, Bartlomiej
Abstract

The collapse of central planning set in motion the reintegration of the Central European countries into the world economy. The European Union (EU), because of its proximity, economic weight, and policy-induced deep integration, has shaped these countries'politics, and economics. The process of accession to the EU - which began with the signing of the European Association Agreements in 1991 - has influenced their economic institutions, policies, and performance. The author traces the emerging architecture of commercial relations in Europe, and argues that the accession process had its greatest impact on capital flows, and later on good flows. The countries that have benefited most from accession, are those that followed the path of radical liberal reform. Radical liberal reform, combined with preferential access to EU markets, attracted foreign direct investment. The European Union provided an outlet, initially for Central European countries'unskilled-labor intensive products, and more recently for skilled-labor intensive, and technology-based products. Knowledge-intensive imports from the European Union, have also contributed to industrial realignment in the Central European countries. The prospect of accession, and, since 1998, unfettered access to EU markets for industrial products, has given a boost to multinationals, relocating production in these countries.

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Paper provided by The World Bank in its series Policy Research Working Paper Series with number 2578.

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Date of creation: 30 Apr 2001
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Handle: RePEc:wbk:wbrwps:2578

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Keywords: Trade Policy; Environmental Economics&Policies; Rules of Origin; Economic Theory&Research; Gender and Law; TF054105-DONOR FUNDED OPERATION ADMINISTRATION FEE INCOME AND EXPENSE ACCOUNT; Environmental Economics&Policies; Trade and Regional Integration; Trade Policy; Rules of Origin;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. James R. Markusen, 1998. "Multinational Firms, Location and Trade," The World Economy, Blackwell Publishing, vol. 21(6), pages 733-756, 08. [Downloadable!] (restricted)
  2. Brenton, Paul & Gros, Daniel, 1997. "Trade Reorientation and Recovery in Transition Economies," Oxford Review of Economic Policy, Oxford University Press, vol. 13(2), pages 65-76, Summer.
  3. Michalopoulos, Constantine, 1999. "The integration of transition economies into the world trading system," Policy Research Working Paper Series 2182, The World Bank. [Downloadable!]
  4. Kaminski, Bartlomiej, 1999. "The EU factor in the trade policies of Central European countries," Policy Research Working Paper Series 2239, The World Bank. [Downloadable!]
  5. Djankov, Simeon & Hoekman, Bernard, 1996. "Intra-Industry Trade, Foreign Direct Investment and the Reorientation of East European Exports," CEPR Discussion Papers 1377, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  6. Richard E. Baldwin & Joseph F. Francois & Richard Portes, 1997. "The costs and benefits of eastern enlargement: the impact on the EU and central Europe," Economic Policy, CEPR, CES, MSH, vol. 12(24), pages 125-176, 04. [Downloadable!] (restricted)
  7. Giorgio Barba Navaretti & Marzio Galeotti & Andrea Mattozzi, 2000. "Moving Skills from Hands to Heads: Import of Technology and Export Performance," Development Working Papers 139, Centro Studi Luca d\'Agliano, University of Milano. [Downloadable!]
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  8. Hoekman, Bernard & Djankov, Simeon, 1997. "Determinants of the Export Structure of Countries in Central and Eastern Europe," World Bank Economic Review, Oxford University Press, vol. 11(3), pages 471-87, September.
  9. Bartlomiej Kaminski, Beata K. Smarzynska, 2001. "Integration into Global Production and Distribution Networks through FDI: the Case of Poland," Post-Communist Economies, Taylor and Francis Journals, vol. 13(3), pages 265-288, September. [Downloadable!] (restricted)
  10. Nada Mora & Pietro Garibaldi & Ratna Sahay & Jeromin Zettelmeyer, 2002. "What Moves Capital to Transition Economies?," IMF Working Papers 02/64, International Monetary Fund.
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  11. Irwin, Douglas A, 1996. "The United States in a New Global Economy? A Century's Perspective," American Economic Review, American Economic Association, vol. 86(2), pages 41-46, May. [Downloadable!] (restricted)
  12. Jovanović , Miroslav N., 2000. "Eastern Enlargement of the European Union: Sour Grapes or Sweet Lemon?," Economia Internazionale / International Economics, Camera di Commercio di Genova, vol. 53(4), pages 507-536.
  13. Feenstra, Robert C, 1998. "Integration of Trade and Disintegration of Production in the Global Economy," Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 31-50, Fall. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Luca De Benedictis & Lucia Tajoli, 2003. "Economic integration, similarity and convergence in the EU and CEECs trade structures," CESPRI Working Papers 148, CESPRI, Centre for Research on Innovation and Internationalisation, Universita' Bocconi, Milano, Italy, revised Jul 2003. [Downloadable!]
  2. Kaminski, Bartlomiej & de la Rocha, Manuel, 2003. "Stabilization and association process in the Banlkans : integration options and their assessment," Policy Research Working Paper Series 3108, The World Bank. [Downloadable!]
  3. Alessia Amighini & Stefano Chiarlone, 2005. "New comparative advantages in the Central and Eastern European countries," LIUC Papers in Economics 182, Cattaneo University (LIUC). [Downloadable!]
  4. J. Caetano & A. Galego & E. Vaz & C. Vieira & I. Vieira, 2002. "The Eastward Enlargement of the Eurozone: Trade and FDI," Eastward Enlargement of the Euro-zone Working Papers wp07, Free University Berlin, Jean Monnet Centre of Excellence, revised 01 Aug 2002. [Downloadable!]
  5. Tkachuk, Oleksandr & Popko, Denis, 2007. "On the patterns of trade convergence in European transition countries," MPRA Paper 14109, University Library of Munich, Germany. [Downloadable!]
  6. Maria Paula Fontoura & Nuno Crespo, 2004. "Integration of CEECs into EU Markets: Structural Change and Convergence," Working Papers 2004/15, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
    Other versions:
  7. Kaminski, Bartlomiej, 2006. "Bulgaria's institutions and policies : integrating into Pan-European markets," Policy Research Working Paper Series 3864, The World Bank. [Downloadable!]
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