EU Enlargement and its Macroeconomic Effects in Eastern Europe

KLAUS FROHBERG Executive Director of the Institute of Agricultural Development in Central and Eastern Europe (IAMO), Halle/Saale, GermanyMONIKA HARTMANN Head of the Division of Agricultural Markets, Marketing and World Agricultural Trade at the Institute of Agricultural Development in Central And Eastern Europe (IAMO) in Halle/Saale, GermanyJENS HÖLSCHER DAAD Senior Research Fellow and Co-ordinator of Economic Research, Institute for German Studies of the University of BirminghamKAZIMIERZ LASKI Professor Emeritus of Economics at the University of Linz, AustriaCLAUDIA LÖHNIG Research Associate at the Leipzig Graduate School of ManagementLUCJAN ORLOWSKI Professor of Economics and International Finance at Sacred Heart University in FairfieldWITOLD ORLOWSKI Deputy Director of the Research Institute of the Central Statistical Office in WarsawLEON PODKAMINER Vienna Institute for Comparative Economic Studies (WIIW)JOHANNES STEPHAN Research Fellow at the Institute for Economic Research Halle (IWH)

'This book reads well and provides interesting theoretical and empirical material on possible consequences of future enlargement. ' - Dariusz Rosati, National Bank of Poland 'This valuable collection of papers makes a real contribution in edging the enlargement debate towards relatively under-played considerations. It asks us to reconsider the funamental issue of whether it is economically sensible for CEECs to be steering a course almost on automatic pilot towards Brussels and the acquis.' - George Blazyca, European Foreign Affairs

• Acknowledgements Introduction Notes on Contributors to the Volume PART I: PRICE CONVERGENCE, DEMAND AND GROWTH Effects of Accession to the EU on Prices, Wages and Aggregate Demand in CEE Countries; H.Gabrisch Macroeconomic Problems of Trade Liberalisation and EU Eastern Enlargement; K.Laski Non-Tradable Goods and Deviations Between Purchasing Power Parities and Exchange Rates: Evidence from the 1990 European Comparison Project; L.Podkaminer PART II: EXCHANGE RATE SYSTEMS, CAPITAL AND TRANSFER INFLOWS Real Exchange Rates and Growth After the EU Accession: the Problems of Transfer and Capital Inflow Absorption; W.M.Orlowski Capital Inflows and Convertibility in the Transforming Economies of Central Europe; L.T.Orlowski Exchange Rate Policy, Fiscal Austerity and Integration Prospects: The Hungarian Case; J.Hölscher and J.Stephan