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Transition has been an Overall Success and Enlargement is an Opportunity for Europe

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  • Jacques de Larosière

Abstract

[eng] The process of transition is an overall success. If we look at the way in which macroeconomic balances have been largely restored and consider inflation rates, budgetary discipline and monetary stability, it can be seen that the trend is very positive. With respect to structural elements, it can also be said that it has been a success. These results have been accompanied by a thoroughgoing redirection of trade flows from east to west. This is one of the most substantial changes in modern economic history. For these reasons, enlargement is an opportunity for Europe. It is important, not to compare per capita income, but to examine the state of structures and of the institutional and legal environment that provides a potential for sustainable growth. And financial stability and macro-economic discipline should be included in that environment. . JEL classifications : F15, P20 [fre] La transition a été globalement un succès et l’élargissement est une opportunité pour l’Europe . Le processus de transition est une réussite globale. Si l’on regarde la manière dont les équilibres macroéconomiques ont été en grande partie restaurés et si l’on considère les taux d’inflation, la discipline budgétaire, la stabilité monétaire, on voit que la tendance est très positive. Quant aux éléments structurels, leur évolution est également un succès. Ces résultats ont été accompagnés d’une profonde réorientation des courants commerciaux de l’Est vers l’Ouest. En ce sens, l’élargissement est une opportunité pour l’Europe. Il est important d’examiner, non pas les revenus par tête, mais l’état des structures, l’environnement institutionnel et juridique qui permet d’assurer un potentiel de croissance durable. Et il convient d’inclure dans cet environnement la stabilité financière et la discipline macroéconomique. . Classification JEL : F15, P20

Suggested Citation

  • Jacques de Larosière, 2001. "Transition has been an Overall Success and Enlargement is an Opportunity for Europe," Revue d'Économie Financière, Programme National Persée, vol. 6(1), pages 39-47.
  • Handle: RePEc:prs:recofi:ecofi_1767-4603_2001_hos_6_1_4551
    DOI: 10.3406/ecofi.2001.4551
    Note: DOI:10.3406/ecofi.2001.4551
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    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • P20 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - General
    • F15 - International Economics - - Trade - - - Economic Integration
    • P20 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - General

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