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11. The Enlargement Challenge: Can Monetary Union be Made to Work in an EU of 25 Members?

Author:
Barry Eichengreen
Publication Date:
02-2002
Content Type:
Working Paper
Institution:
Institute of European Studies
Abstract:
This lecture considers how Europe's monetary union will evolve in the next five to ten years. It concentrates on what is likely to be the most important change in that period, namely, the increasing number and heterogeneity of participating states. By 2006, less than four years from now, it is virtually certain that EMU will be enlarged to include a number of Eastern European countries that have not yet been admitted to the EU itself. These new members will differ sharply from the incumbents in terms of their economic structures, their per capita incomes, and their growth rates. The analysis focuses on the implications of this momentous change for the structure, organization and operation of EMU.
Topic:
Economics and Political Economy
Political Geography:
Europe

12. The External Sector, the State and Development in Eastern Europe

Author:
Barry Eichengreen and Richard Kohl
Publication Date:
03-1998
Content Type:
Working Paper
Institution:
Berkeley Roundtable on the International Economy
Abstract:
Early optimists hoped that Eastern Europe might be able to emulate the high-performance economies of Asia once the shock of liberalization was absorbed. The ingredients of the East Asian “miracle,” in this view, were rapid accumulation based on high investment in physical and human capital, productivity growth based on technology transfer through licensing and direct foreign investment, rapidly expanding exports able to support industrial specialization and scale economies, and a strong state capable of guiding the development process and solving coordination problems. Emulating this recipe could provide the basis, it was hoped, for the expansion of exports and buoyant economic growth more generally.
Topic:
Development, Government, and International Trade and Finance
Political Geography:
Europe, Eastern Europe, and Asia