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This paper considers the nature and the distribution of trade and FDI effects of a potential enlargement of the European Monetary Union (EMU) to the 10 countries that obtained EU membership in 2004. One-way and two-way error component gravity models are estimated using a data set of unbalanced...
Persistent link: https://www.econbiz.de/10010325507
currencies and adopted a new common currency, the euro. Several recent papers argue that the introduction of the euro has led (by … put the trade effect of the euro in historical perspective. We argue that the creation of the EMU was a continuation (or … integration, the euro?s impact on trade disappears. Moreover, a significant part of the trend in European trade integration is …
Persistent link: https://www.econbiz.de/10010296364
Persistent link: https://www.econbiz.de/10011695653
currencies and adopted a new common currency, the euro. Several recent papers argue that the introduction of the euro has led (by … put the trade effect of the euro in historical perspective. We argue that the creation of the EMU was a continuation (or … integration, the euro's impact on trade disappears. Moreover, a significant part of the trend in European trade integration is …
Persistent link: https://www.econbiz.de/10010261162
eminently. The euro has proven credible both in the countries that officially adopted it and in the countries that adopted it … facilitate the accession of willing EU members to the euro by relaxing the ERM II conditions. …
Persistent link: https://www.econbiz.de/10011430838
This paper analyses the effect of the EU enlargement process on income convergence among regions in the EU and in the Eastern neighbourhood of the EU. The data used is NUTS II regions in the EU and Oblasts' of Russia over the period 1996-2004. The estimation techniques used take into account...
Persistent link: https://www.econbiz.de/10011430825
A new macroeconomic evaluation of EU enlargement is undertaken with a world macroeconomic model taking into account all possible integration effects: trade effects, Single Market effects, factor movements (FDI, migration) and the costs of enlargement. Due to the differences in size of the...
Persistent link: https://www.econbiz.de/10011435067
This paper analyses the relationship between openness to trade and wages at the industry level (15 manufacturing industries) in 25 EU countries over the period from 1995 to 2005. By applying a cross-country and industry-specific approach, it is possible to control for unobserved heterogeneity at...
Persistent link: https://www.econbiz.de/10011605290
The envisaged EU enlargement will lead to a redirection of Structural and Cohesion Funds expenditures from current to new EUmembers. This redistribution of funds makes the accession countries even more attractive as a location of FDI. Using a logistic regressions approach, this paper shows that...
Persistent link: https://www.econbiz.de/10011435101
The expansion of regionalism has spawned an extensive theoretical literature analysing the effects of Free Trade Agreements (FTAs) on trade flows. In this paper we focus on FTAs (also called European agreements) between the European Union (EU-15) and the Central and Eastern European countries...
Persistent link: https://www.econbiz.de/10010269289