This paper aims to study the joint effects of the 2004 EU Enlargement and Russia's entry into the WTO, and the effects of an eventual Russia-Enlarged EU Free Trade Agreement (FTA). The paper is organized as follows: in Section I, it starts with the brief description of the model used. The...

This paper extends the work of Kaminsky and Schmukler (2003) to the Baltic and Central Eastern European new Member States of the European Union, to test if the same short-run increase in cyclical volatility arising from financial integration is observed in this specific sample of "emerging...