Economic Impact of EU Membership on Entrants

This volume centres on the issues surrounding the likely economic impact that EU membership has on joining nations, with the main emphasis on issues and methods. Given the significantly greater level of economic integration that now exists in the EU, accession brings up a host of issues that either did not arise or were of secondary importance during earlier enlargement waves. For instance, EU membership now entails eventual membership in the monetary union. This raises a series of new issues such as interest rate convergence, exchange rate stability and the loss of sovereignty over monetary policy. Additionally, these macro issues interact with micro issues such as export performance, capital formation and foreign direct investment (FDI). Migration, unemployment and foreign direct investment are further issues that acquire a magnified importance for the prospective entrants. All of these questions are treated in the contributions in this book. It should be of interest to academics as well as decisionmakers in prospective member countries.