The aim of this paper is to analyze the transition results in the countries of the last wave of accession to the European Union. After they joined the EU, the average productivity growth dropped in the first year, but later this was overcome. While the rate of GDP growth rose in most NMS...

The EU candidate and potential candidate countries have made considerable progress in economic transition and integration into the world economy within less than two decades. Nevertheless, gaps in terms of income per capita relative to the euro area remain large. This suggests that the...

Global financial integration has been associated with divergent patterns of real convergence and the current account in emerging markets. While countries in emerging Asia have been running sizeable current account surpluses, countries in emerging Europe have been facing large current account...