The EU has long viewed economic and institutional convergence as important goals, but the results thus far have been decidedly mixed, and there remain several open questions: How exactly should convergence be defined? How much convergence is necessary? What steps can be taken to improve...

In this chapter, we aim to establish whether liberalization and accompanying regulatory arrangements have delivered the expected efficiency gains. In section I, we discuss the theoretical issues and demonstrate that ‘marketable’ yet simplistic arguments in favour of liberalization tend to...

The EU has long viewed economic and institutional convergence as important goals, but the results thus far have been decidedly mixed, and there remain several open questions: How exactly should convergence be defined? How much convergence is necessary? What steps can be taken to improve...