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The relationship between domestic saving and investment provides important insights for the integration of national financial markets into the world capital market. In case of perfect financial integration, it is generally assumed that there should be no close relationship between national...
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This chapter offers a framework to analyse the impact of EU membership on economic ("means"), institutional ("ways …") and social ("ends") convergence of EU11 countries to the frontier. It identifies the channels through which this impact … works: trade, investment, finance, migration and institutions. Using this framework, the analysis finds that EU membership …
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, Central and South Eastern European countries that joined the EU after 2004. We find that these EU11 countries have benefitted … within the EU. The analysis is conducted with the macroeconomic model QUEST that distinguishes between all EU member states … and effects on EU value chains via lower prices for intermediates. GDP effects depend heavily on the degree of openness …
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