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Economic impact of the EU Eastern enlargement on New Member States revisited: The role of economic institutions

Economic impact of the EU Eastern enlargement on New Member States revisited: The role of... AbstractThe 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 Gardeazabal. Compared to previous studies analysing the effects of accession to the EU (Campos, Coricelli and Moretti), we check for the importance of the quality of economic institutions for the matching process of the analysed economies with their comparators. The results of the econometric analysis show a positive impact on the country performance 6 years and 12 years after accession to the EU. The gains from accession are large but not universal. For 5 of the 10 analysed countries the difference in levels of per capita gross domestic product (GDP) against the counterfactual is at least 30%. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Central European Economic Journal de Gruyter

Economic impact of the EU Eastern enlargement on New Member States revisited: The role of economic institutions

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Publisher
de Gruyter
Copyright
© 2021 Jan Hagemejer et al., published by Sciendo
eISSN
2543-6821
DOI
10.2478/ceej-2021-0008
Publisher site
See Article on Publisher Site

Abstract

AbstractThe 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 Gardeazabal. Compared to previous studies analysing the effects of accession to the EU (Campos, Coricelli and Moretti), we check for the importance of the quality of economic institutions for the matching process of the analysed economies with their comparators. The results of the econometric analysis show a positive impact on the country performance 6 years and 12 years after accession to the EU. The gains from accession are large but not universal. For 5 of the 10 analysed countries the difference in levels of per capita gross domestic product (GDP) against the counterfactual is at least 30%.

Journal

Central European Economic Journalde Gruyter

Published: Jan 1, 2021

Keywords: EU enlargement; New Member States; synthetic control method; F13; F15; P2

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