Financial Convergence in Transition Economies: EU Enlargement

Financial Development and Economic Growth in Transition Economies :

We examine the role of financial development in economic growth in the former Communist countries of Central and Eastern Europe and the Commonwealth of Independent States during the first two decades since the beginning of transition. These countries, which had undeveloped financial systems under Communism, provide an interesting test of the relationship between financial development and growth...

EU Enlargement: The New Member States and Agricultural Trade Potentials

Property relations and financial reforms in transition economies *

Property relations and financial markets are key aspects of the transition to a market economy. This paper reviews conceptual analysis and recent experience in these areas under five broad headings: (1) property rights and the legal framework; (2) privatisation; (3) the management and regulation of state-owned firms; (4) banking and finance; and (5) restructuring. The emphasis of the paper is o...

Varieties , Jobs and EU Enlargement

Two key factors that have so far allowed fast growing economies of central and eastern Europe to cope with their external constraint have been i) the presence of relatively low unit labour costs and ii) the initial undervaluation of the exchange rate. The accession to the EU will inevitably reduce both sources of competitiveness of eastern European exports: real wages are likely to catch-up wes...

EU Enlargement: Implications for EU and Multilateral Export Controls