IDEAS home Printed from
   My bibliography  Save this paper

Consequences of EU Accession: Economic Effects on CEECs


  • Michael Landesmann

    () (The Vienna Institute for International Economic Studies, wiiw)

  • Sandor Richter

    () (The Vienna Institute for International Economic Studies, wiiw)


This paper discusses the economic effects of EU enlargement for the group of Central and East European accession countries (ACs). It consists of three parts In Part A the financial aspects of accession to the EU are explained. It deals firstly with the outcome of the negotiations at the December 2002 European Council Summit in Copenhagen in relation to the expected flows of net transfers over the period 2004-2006. The most uncertain component of these transfers are related to the project-related funds, their disbursement and fiscal implications because of co-financing requirements. Secondly, we discuss the issue of the longer-run negotiations with respect to the Financial Framework to be decided for the period 2007-2013, here the issue of the formation of likely new coalitions within the enlarged European Union is dealt with and possible winners and losers in such negotiations are identified. In Part B we discuss the difficulties the new members will face upon accession in the conduct of macroeconomic policy. In particular, the crucial issue of fast vs. delayed entry to the European Monetary Union (EMU) will shape the constraints within which the conduct of fiscal and monetary policy will have to take place. It is quite likely that it is this issue which will dominate the medium-run growth prospects of the new members upon accession. Part C explores the longer-run growth and convergence scenarios for the new member states. It describes the relative growth performance of the ACs in relation to the EU so far and discusses the reasons why the growth performances might remain more volatile compared to those of the current EU member countries.

Suggested Citation

  • Michael Landesmann & Sandor Richter, 2003. "Consequences of EU Accession: Economic Effects on CEECs," wiiw Research Reports 299, The Vienna Institute for International Economic Studies, wiiw.
  • Handle: RePEc:wii:rpaper:rr:299

    Download full text from publisher

    File URL:
    Download Restriction: no


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Pierre Laurent & Nicolas Meunier, 2003. "Risque pays : l’Europe de l’Est est-elle spécifique ?," Revue d'Économie Financière, Programme National Persée, vol. 72(3), pages 31-44.
    2. Ansgar Belke & Martin Hebler, 2000. "EU enlargement and labour markets in the CEECs," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 35(5), pages 219-230, September.
    3. Tatiana Tikhonova & Olga Shik, 2008. "Alternative Employment in Rural Area in Russia," Research Paper Series, Gaidar Institute for Economic Policy, issue 114P, pages 224-224.
    4. Josef Abrhám & Milan Vošta, 2011. "Economic Growth and Convergence of the Enlarged European Union [Ekonomický růst a konvergence rozšířené Evropské unie]," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2011(5), pages 3-16.
    5. Ansgar Belke & Martin Hebler, 2002. "Towards a European Social Union: Impacts on Labor Markets in the Acceding Countries," Constitutional Political Economy, Springer, vol. 13(4), pages 313-335, December.
    6. Andrej Horvat, 2005. "Financial Absorption Rates in EU Objective 1 1994-99 and Some Lessons for the New Member States in 2004-2006," WIFO Working Papers 259, WIFO.

    More about this item

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wii:rpaper:rr:299. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Customer service). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.