Does EU Membership Facilitate Convergence? The Experience of the EU's Eastern Enlargement - Volume I: Overall Trends and Country Experiences (Studies in Economic Transition)

Praise for Does EU Membership Facilitate Convergence? The Experience of the EU’s Eastern Enlargement - Volume I
Contents
Notes on Contributors
List of Figures
List of Tables
Chapter 1: Introduction: The Story and the Lessons
	1.1 Framework for Analysis
	1.2 The Convergence Story of EU11: A Major Success with Emerging Policy Issues
	1.3 The Working and Interactions of Channels
	1.4 Emerging Asymmetries and Imbalances of Economic and Social Convergence
	1.5 Social Coherence: Different Convergence Journeys for Different Groups in Society?
	1.6 Convergence and Climate Change
	1.7 Lessons for Other Countries
	1.8 Looking Forward: Will Rapid Economic Convergence in EU11 Continue?
	1.9 The Corona Crisis and the Future of Convergence in the European Union
	1.10 Structure of Volumes
	1.11 Thanks
	References
Part I: Framework for Analysis and Overall Trends
	Chapter 2: Convergence of the EU Member States in Central-Eastern and South Eastern Europe (EU11): A Framework for Convergence Inside a Close Regional Cooperation
		2.1 Introduction
		2.2 A Framework for Analysis
			2.2.1 Interactions Among the Channels
			2.2.2 The Impact of EU Through the Channels
		2.3 Convergence: How Have EU11 Countries Fared in Global Comparison?
		2.4 Trade Channel
		2.5 Investment Channel
		2.6 Finance Channel
		2.7 Migration Channel
		2.8 Institutional Channel
		2.9 The Dangers of Convergence: Imbalances and Policy Reversals
		2.10 The EU’s Response to the Crisis: Strengthening EU Institutions
		2.11 Conclusions
		Annex 1: The Selection of the Country Groups Used in the Analysis
		References
	Chapter 3: Towards a New Growth Model in CESEE: Three Challenges Ahead
		3.1 Introduction
		3.2 The Pre-crisis Growth Model
		3.3 Need for a Wind of Change?
		3.4 The Innovation Challenge
		3.5 The Labour Market Challenge
		3.6 The Financing Challenge
		3.7 Conclusions
		References
	Chapter 4: Regional Dynamics in EU11
		4.1 Introduction
		4.2 Convergence and Divergence in Income Per Capita
		4.3 Convergence and Divergence in the Labour Market
		4.4 Agglomeration and Population Dynamics
		4.5 Some Regional Groupings
		4.6 Bringing in Geography
		4.7 Conclusions
		References
Part II: Country Experiences of EU Members
	Chapter 5: How the European Union Made Poland European Again
		5.1 Introduction
		5.2 Poland’s Economic Success
		5.3 The Drivers of the Polish Miracle
		5.4 The Fundamental Role of the European Union
			5.4.1 Political Economy Drivers
			5.4.2 Economic Channels of Impact
			5.4.3 Comparison with Peers Outside the EU
			5.4.4 The European Union as a Convergence Machine
		5.5 Growth Projections
		5.6 Conclusions
		References
	Chapter 6: Transformation of the Trade and Financing Model of the Hungarian Economy After EU Accession
		6.1 Introduction
		6.2 Developments in Trade After EU Accession
			6.2.1 An Open Economy
			6.2.2 Age of Specialisation
		6.3 From EU Accession to the 2008–2009 Crisis: The Curse of Easy Access to External Debt Financing
			6.3.1 Dependence on External Funding
			6.3.2 The Spread of Debt Liabilities
			6.3.3 The Unsustainable Financing Model of the Banking System
			6.3.4 Rising Foreign Debt of the Public Sector
		6.4 Adjustment Prompted by the Crisis: Failed Corrective Measures, International Safety Net
			6.4.1 Waning Market Financing: EU/IMF Bailout
			6.4.2 Changed Savings Behaviour of the Private Sector
			6.4.3 EU Transfers Also Alleviated the Financing Gap
		6.5 New Financing Model: Strengthening Self-Financing
			6.5.1 Rising Household Savings and Shift in Economic Policy
			6.5.2 New Public Debt Strategy
			6.5.3 Turnaround in Lending: Support for Domestic Lending to Corporations
			6.5.4 Shift in the Absorption of EU Transfers
			6.5.5 Impact of the Changing Financing Model on Developments in External Liabilities
		6.6 Summary
		References
	Chapter 7: Macroeconomic Trends in the Baltic States Before and After Accession to the EU
		7.1 Introduction
		7.2 Joining the EU
		7.3 Transition and Aspirations
		7.4 The Accession Boom
		7.5 The Crisis Years
		7.6 The Recovery
		7.7 Longer-Term Trends
		7.8 Some Perspectives
		References
	Chapter 8: Bulgaria and Romania: The Latecomers to the Eastern Enlargement
		8.1 Introduction: Why Was EU Accession Delayed?
		8.2 Deepening of Integration with the EU and Economic Restructuring
		8.3 Coping with Shocks as EU Members
		8.4 Cohabitation and Solidarity in the Club: The Carrots and the Sticks
		8.5 Does EU Membership Bring About Prosperity on the Eastern Periphery?
		8.6 Concluding Remarks
		References
Part III: Convergence to Frontier as a Future Member of the European Union
	Chapter 9: Convergence of Non-EU Countries in the CESEE Region
		9.1 Introduction
		9.2 Starting Points
		9.3 Growth Performance and Convergence Over the Past 30 Years
			9.3.1 Overview of Growth Performance
			9.3.2 Growth Drivers
			9.3.3 Convergence with Germany
			9.3.4 Convergence with Spain, Greece and Portugal
		9.4 Economic Structures
			9.4.1 Production Structures
			9.4.2 Trade Integration with Western Europe and Competitiveness
			9.4.3 Inward FDI Stock and Structure
			9.4.4 Longer-Term EBRD Transition Indicators
		9.5 Social Aspects of Convergence
			9.5.1 Inequality
			9.5.2 Inclusivity
			9.5.3 Environment
			9.5.4 Education
		9.6 Institutions
			9.6.1 Governance
			9.6.2 Corruption
			9.6.3 Electoral Democracy and State Capture
		9.7 Infrastructure
		9.8 Financialisation
		9.9 The New Geopolitics
			9.9.1 The Arrival of China in CESEE
			9.9.2 A harder Divide Between Russia and the West
			9.9.3 Staying on the EU Path
		9.10 Conclusions
		Annex
		References
Index