Eastern enlargement is one of the biggest events in Europe in our time. However, it will take decades before a full insight into overall consequences will be possible.
The integration of Central and Eastern Europe (CEE) countries with the West, in particularly the European Union (EU), is expected to produce significant benefits to all these economies in transition. In addition to positive economic changes resulting from altering tariffs, accession to the EU internal market, and free-labor movement on gross domestic product (GDP), consumption, positive terms of trade, and the absorption of EU funds could help the process of convergence and catching up.
This chapter is a discussion, ...