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Fiscal Challenges Facing the New Member States

Author

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  • Marek Dabrowski

    (CASE, Center for Social and Economic Research, 12 Sienkiewicza St, Warsaw, Poland.)

  • Malgorzata Antczak

    (CASE, Center for Social and Economic Research, 12 Sienkiewicza St, Warsaw, Poland.)

  • Michal Gorzelak

    (CASE, Center for Social and Economic Research, 12 Sienkiewicza St, Warsaw, Poland.)

Abstract

This paper provides an analysis of the fiscal challenges faced by the eight transition economies, which joined the European Union (EU) in May 2004. More than half of them run excessive fiscal deficits being partly a legacy of an early transition period, partly – a consequence of additional accession-related costs. In addition, the long-term fiscal outlook, connected with the consequences of population ageing, is dramatic. On the other hand, the perspective of Economic and Monetary Union entry should provide the new member states with a strong incentive to reduce their deficits now because waiting (and postponing both fiscal adjustment and the adoption of the euro) will only result in higher cumulative fiscal costs. Comparative Economic Studies (2006) 48, 252–276. doi:10.1057/palgrave.ces.8100159

Suggested Citation

  • Marek Dabrowski & Malgorzata Antczak & Michal Gorzelak, 2006. "Fiscal Challenges Facing the New Member States," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 48(2), pages 252-276, June.
    • Handle: RePEc:pal:compes:v:48:y:2006:i:2:p:252-276
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    Cited by:

    1. Mariusz Jarmuzek, 2005. "Are the EU new member states fiscally sustainable? An empirical analysis," UCL SSEES Economics and Business working paper series 51, UCL School of Slavonic and East European Studies (SSEES).
    2. Ferré, Montserrat, 2012. "The effects of uncertainty about countries’ compliance with the Stability and Growth Pact," Journal of Policy Modeling, Elsevier, vol. 34(5), pages 660-674.
    3. Dabrowski, Marek, 2010. "The global financial crisis: Lessons for European integration," Economic Systems, Elsevier, vol. 34(1), pages 38-54, March.
    4. Marek Dabrowski, 2006. "A Strategy for EMU Enlargement," Springer Books, in: Marek Dabrowski & Jacek Rostowski (ed.), The Eastern Enlargement of the Eurozone, chapter 0, pages 199-225, Springer.

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