Economic and Monetary Union (EMU) has a number of institutional implications for the transition countries of Central and Eastern Europe and selected Mediterranean countries that aspire to join the European Union (EU). After describing the current institutional framework for their relations with...

The approach based on the law of gravity for the study of international trade flows has been widely used in recent years. Gravity model based studies have achieved empirical success in explaining various “flows”, for example international trade. Due to simplicity, high explanatory ability...

The European Union (EU) has a splendid record concerning enlargement. Judging by the number of EU member countries, enlargement has been the most successful EU policy ever. The economic side of its eastern enlargement is a hybrid bag of effects for the EU's eastern countries. Membership in the...

The current accounts of most EU member states in central and eastern Europe have been showing growing deficits in recent years. According to panel estimates the deficits can be attributed primarily to factors characteristic for the stage of development, ie the relative income level and high...

The paper analyses the economic implications of the accession of New Member States (NMS) to the European Union (EU) in 2004 and 2007. The estimation effects of integration with the EU were carried out as a comparative case study using the synthetic control method (SCM) proposed by Abadie and...

The European Union has not defined its limits in geographical terms. Each enlargement has led and will lead to a decrease of the European Union's per capita GDP. After the collapse of the Soviet Union the transition countries went through a long and deep recession. However, they have reached a...

We study the effects of market integration on manufacturing emission intensities of CO 2, SO x, and NO x. For this, we analyse the 2004 and 2007 EU enlargements in a sub-sectoral panel with data on almost all EU member states from 1995 to 2015. We pay close attention to relevant channels of...

The future membership of CEECs in the eurozone involves the risk of external asymmetric shocks, due to too strong a dependence on one sector or one customer country. By defining two indicators - sector-based and geographic - of exposure to shocks, taking into account the symmetry of the export...

This paper analyses the rapid trade integration of the Central and Eastern European countries (CEEC's) with the euro area in the past ten years and draws implications for further integration. We use as benchmark an enhanced gravity model estimated for a large sample of bilateral trade flows...

The paper argues that economic integration causes problems for the labor market of high-wage countries due to cross-border labor mobility and the accompanying increase in labor supply. Empirical evidence is provided from an analysis of regional labor market effects of German reunification. In...