An Empirical Assessment of Economic and Political Challenges of European Union Accession

The collapse of the Soviet Union was an exceptional experiment in the economic history of the world, which made the post-socialist countries the subject of various economic studies. Different researchers and organizations tend to monitor the progress of economic and institutional reforms through inv...

Full description

Bibliographic Details
Main Authors:	Tamazian, Artur, Melikyan, Davit N.
Format:	Journal Article
Language:	EN
Published:	2012
Subjects:	Economic Integration F150 International Fiscal Issues International Public Goods H870 Socialist Institutions and Their Transitions: International Trade, Finance, Investment, and Aid P330
Online Access:	http://hdl.handle.net/10986/4974

id	okr-10986-4974
recordtype	oai_dc
spelling	okr-10986-49742021-04-23T14:02:20Z An Empirical Assessment of Economic and Political Challenges of European Union Accession Tamazian, Artur Melikyan, Davit N. Economic Integration F150 International Fiscal Issues International Public Goods H870 Socialist Institutions and Their Transitions: International Trade, Finance, Investment, and Aid P330 The collapse of the Soviet Union was an exceptional experiment in the economic history of the world, which made the post-socialist countries the subject of various economic studies. Different researchers and organizations tend to monitor the progress of economic and institutional reforms through inventing different indexes (indicators), apparently trying to understand how to detect the end of the transition process. The European Union, opening its door to accession candidates and starting negotiations with a number of eastern European and Baltic states, was the first to rely on those assessments of progress in reforms for making decisions on the readiness of the countries in terms of economic and institutional development to become a member of the European family. This study tries to link the actual assessments of reforms (start of negotiations) and the available set of indicators to construct an empirical model. We apply statistical techniques of limited dependent variable models to reveal the most important criteria followed by the 'EU admission committee' and capture them in limited dependent variable models, which are applied to evaluate the readiness of a number of other post-socialist countries to start hypothetical negotiations with the EU. Based on available empirical results the factors captured in the model include the share of public expenditure in GDP, GDP per capita, private sector share of GDP, share of trade with EU in external turnover, democratization and inflation (macroeconomic stability). Our empirical assessments show that there are several transition economies (Albania, Armenia, and Georgia), which despite not having candidate status, offer better general standing in terms of 'accession criteria' than the current candidates. This fact may suggest to policy-makers (other geopolitical conditions being equal) to consider these countries for future EU enlargement waves. 2012-03-30T07:30:39Z 2012-03-30T07:30:39Z 2010 Journal Article Journal of Common Market Studies 00219886 http://hdl.handle.net/10986/4974 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article Eastern Europe Baltic States
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	EN
topic	Economic Integration F150 International Fiscal Issues International Public Goods H870 Socialist Institutions and Their Transitions: International Trade, Finance, Investment, and Aid P330
spellingShingle	Economic Integration F150 International Fiscal Issues International Public Goods H870 Socialist Institutions and Their Transitions: International Trade, Finance, Investment, and Aid P330 Tamazian, Artur Melikyan, Davit N. An Empirical Assessment of Economic and Political Challenges of European Union Accession
geographic_facet	Eastern Europe Baltic States
relation	http://creativecommons.org/licenses/by-nc-nd/3.0/igo
description	The collapse of the Soviet Union was an exceptional experiment in the economic history of the world, which made the post-socialist countries the subject of various economic studies. Different researchers and organizations tend to monitor the progress of economic and institutional reforms through inventing different indexes (indicators), apparently trying to understand how to detect the end of the transition process. The European Union, opening its door to accession candidates and starting negotiations with a number of eastern European and Baltic states, was the first to rely on those assessments of progress in reforms for making decisions on the readiness of the countries in terms of economic and institutional development to become a member of the European family. This study tries to link the actual assessments of reforms (start of negotiations) and the available set of indicators to construct an empirical model. We apply statistical techniques of limited dependent variable models to reveal the most important criteria followed by the 'EU admission committee' and capture them in limited dependent variable models, which are applied to evaluate the readiness of a number of other post-socialist countries to start hypothetical negotiations with the EU. Based on available empirical results the factors captured in the model include the share of public expenditure in GDP, GDP per capita, private sector share of GDP, share of trade with EU in external turnover, democratization and inflation (macroeconomic stability). Our empirical assessments show that there are several transition economies (Albania, Armenia, and Georgia), which despite not having candidate status, offer better general standing in terms of 'accession criteria' than the current candidates. This fact may suggest to policy-makers (other geopolitical conditions being equal) to consider these countries for future EU enlargement waves.
format	Journal Article
author	Tamazian, Artur Melikyan, Davit N.
author_facet	Tamazian, Artur Melikyan, Davit N.
author_sort	Tamazian, Artur
title	An Empirical Assessment of Economic and Political Challenges of European Union Accession
title_short	An Empirical Assessment of Economic and Political Challenges of European Union Accession
title_full	An Empirical Assessment of Economic and Political Challenges of European Union Accession
title_fullStr	An Empirical Assessment of Economic and Political Challenges of European Union Accession
title_full_unstemmed	An Empirical Assessment of Economic and Political Challenges of European Union Accession
title_sort	empirical assessment of economic and political challenges of european union accession
publishDate	2012
url	http://hdl.handle.net/10986/4974
_version_	1764393455706963968

An Empirical Assessment of Economic and Political Challenges of European Union Accession

Similar Items