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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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  • Kaminski, Bartlomiej
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    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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    Bibliographic Info

    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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    1. 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.
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    5. Michalopoulos, Constantine, 1999. "The integration of transition economies into the world trading system," Policy Research Working Paper Series 2182, The World Bank.
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    9. Klaus E Meyer, 2000. "International Production Networks and Enterprise Transformation in Central Europe," Comparative Economic Studies, Palgrave Macmillan, vol. 42(1), pages 135-150, April.
    10. Kaminski, Bartlomiej, 1999. "The EU factor in the trade policies of Central European countries," Policy Research Working Paper Series 2239, The World Bank.
    11. 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.
    12. Kaminski, Bartlomiej & Ng, Francis, 2001. "Trade and production fragmentation : Central European economies in European Union networks of production and marketing," Policy Research Working Paper Series 2611, The World Bank.
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    Cited by:
    1. Kaminski, Bartlomiej, 2006. "Bulgaria's institutions and policies : integrating into Pan-European markets," Policy Research Working Paper Series 3864, The World Bank.
    2. Resmini, Laura, 2003. "Economic integration, industry location and frontier economies in transition countries," Economic Systems, Elsevier, vol. 27(2), pages 205-221, June.
    3. Nuno Crespo & Maria Paula Fontoura, 2007. "Integration of CEECs into EU Market: Structural Change and Convergence," Journal of Common Market Studies, Wiley Blackwell, vol. 45, pages 611-632, 09.
    4. Sõrg, Mart & Tuusis, Danel, 2008. "Foreign banks increase the social orientation of Estonian financial sector," Wirtschaftswissenschaftliche Diskussionspapiere 01/2008, Ernst Moritz Arndt University of Greifswald, Faculty of Law and Economics.
    5. Mika Widgrén, 2001. "Eastern Enlargement: Trade and Industrial Location in Europe," CESifo Forum, Ifo Institute for Economic Research at the University of Munich, vol. 2(2), pages 14-18, October.
    6. Tkachuk, Oleksandr & Popko, Denis, 2007. "On the patterns of trade convergence in European transition countries," MPRA Paper 14109, University Library of Munich, Germany.
    7. Luca De Benedictis & Lucia Tajoli, 2003. "Economic integration, similarity and convergence in the EU and CEECs trade structures," KITeS Working Papers 148, KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy, revised Jul 2003.
    8. 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.
    9. Alessia Amighini & Stefano Chiarlone, 2005. "New comparative advantages in the Central and Eastern European countries," LIUC Papers in Economics 182, Cattaneo University (LIUC).
    10. 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.
    11. Lefilleur, Julien & Maurel, Mathilde, 2010. "Inter- and intra-industry linkages as a determinant of FDI in Central and Eastern Europe," Economic Systems, Elsevier, vol. 34(3), pages 309-330, September.

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