How Accession to the European Union Has Affected External Trade and Foreign Direct Investment in Central European Economies

Kaminski, Bartlomiej

World Bank, Washington, DC

关键词: AGRICULTURAL MARKETS;    AGRICULTURAL PRODUCTION;    AGRICULTURAL PRODUCTS;    AGRICULTURAL TRADE;    APPLIED TARIFF;   

DOI  :  10.1596/1813-9450-2578
RP-ID  :  WPS2578

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The collapse of central planning set inmotion the reintegration of the Central European countriesinto the world economy. The European Union (EU), because ofits proximity, economic weight, and policy-induced deepintegration, has shaped these countries' politics, andeconomics. The process of accession to the EU - which beganwith the signing of the European Association Agreements in1991 - has influenced their economic institutions, policies,and performance. The author traces the emerging architectureof commercial relations in Europe, and argues that theaccession process had its greatest impact on capital flows,and later on good flows. The countries that have benefitedmost from accession, are those that followed the path ofradical liberal reform. Radical liberal reform, combinedwith preferential access to EU markets, attracted foreigndirect investment. The European Union provided an outlet,initially for Central European countries'unskilled-labor intensive products, and more recently forskilled-labor intensive, and technology-based products.Knowledge-intensive imports from the European Union, havealso contributed to industrial realignment in the CentralEuropean countries. The prospect of accession, and, since1998, unfettered access to EU markets for industrialproducts, has given a boost to multinationals, relocatingproduction in these countries.