Håkan Dahlström
Economists Robert Beyer, Claire Li, and Sebastian Weber from the IMF prepared a working paper titled “Economic Benefits from Deep Integration: 20 years after the 2004 EU Enlargement.” It evaluates the effects of the concurrent accession of Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, Slovenia, and Estonia.
It is observed that joining the EU has resulted in higher incomes for the accession countries and economic convergence with the “old” member states of the union.
In 2004, the average GDP per capita for these ten nations was 59% of the EU average, while two decades later it reached 85%. This was primarily a result of access to the single market, the elimination of trade barriers, and the active flow of capital within the union, which led, for instance, to a significant increase in foreign direct investment.
IMF analysts attribute the rapid economic growth in the accession countries primarily to the increase in industrial sector activity, influenced by the shift of certain production from "old" EU member states. The services sector started significantly contributing to GDP growth in the accession countries in 2011, and its importance is growing.
source: imf.org
It is observed that joining the EU has resulted in higher incomes for the accession countries and economic convergence with the “old” member states of the union.
In 2004, the average GDP per capita for these ten nations was 59% of the EU average, while two decades later it reached 85%. This was primarily a result of access to the single market, the elimination of trade barriers, and the active flow of capital within the union, which led, for instance, to a significant increase in foreign direct investment.
IMF analysts attribute the rapid economic growth in the accession countries primarily to the increase in industrial sector activity, influenced by the shift of certain production from "old" EU member states. The services sector started significantly contributing to GDP growth in the accession countries in 2011, and its importance is growing.
source: imf.org