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dc.contributor.authorCaétano, José Manuel Martinsen_US
dc.contributor.authorGalego, Auroraen_US
dc.contributor.authorVaz, Elsa Cristinaen_US
dc.contributor.authorVieira, Carlosen_US
dc.contributor.authorVieira, Isabelen_US
dc.description.abstractThe objective of this study is to examine recent developments in trade and FDI flowsbetween the EU and the CEEC, trying to anticipate future consequences from the economicintegration of the two blocks. Economic theory suggests that integration conveys positiveeffects upon welfare, due to the reallocation of resources and the restructuring of productionand trade. The Eastern enlargement represents both an opportunity and a risk for the EUmembers as well as for the CEEC. As a result of the differences in size between the twogroups of countries involved, it is likely that on average the CEEC will face the highest risksbut may also experience the largest benefits. It is expected that both trade and FDI flows willincrease with deeper economic integration. However, the free circulation of goods, servicesand capital over a wider geographic area creates opportunities for the exploitation of scaleeconomies, which may lead to the geographical concentration of production. Therefore, inspite of the expected positive global effects, it is acknowledged that, during the transitionperiod, difficulties may arise in those sectors, regions and firms confronted with newcompetitive challenges.In the CEEC, transition from centrally planned to market economies coexists with the plansfor future integration in the EU. Both processes prompt internal and external liberalisationprocesses, with social and economic consequences that are difficult to predict. In order todevelop a coherent study in such a complex context, an attempt is made to integrate differentanalytical perspectives.The exhaustive assessment of the changes in the pattern of trade between candidates andcurrent EU members comprehends an analysis of the global intensity of trade flows and ofpotential trade creation and diversion effects. The study also examines tendencies for sectoralspecialisation and the evolution of the position of countries in the process of internationalsegmentation of production. In respect to FDI, an empirical assessment of its maindeterminants is followed by the evaluation of potential diversion of investment flows fromthe EU periphery to the CEEC.en_US
dc.relation.ispartofseries|aEzoneplus working paper |x7en_US
dc.subject.keywordTrade and FDIen_US
dc.subject.keywordEconomic Integrationen_US
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen_US
dc.subject.stwInternationale Arbeitsteilungen_US
dc.subject.stwIntraindustrieller Handelen_US
dc.titleThe Eastward Enlargement of the Eurozone Trade and FDIen_US
dc.typeWorking Paperen_US

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