Table of Contents

The Economic Potential of a Larger Europe

The Economic Potential of a Larger Europe

Edited by Klaus Liebscher, Josef Christl, Peter Mooslechner and Doris Ritzberger-Grünwald

The Economic Potential of a Larger Europe gives insights into past, present and future issues related to the ongoing EU enlargement process. Providing a unique forum for debate and a multiplicity of views and experiences from both high-profile academics and those who engage with enlargement on an implementation level, this book covers a wide range of topics that are key to a successful transition and integration process and thus to the provision of a prosperous growth environment within a larger Europe. Special attention is paid to monetary integration, notably entry into ERM II, on which representatives of the national central banks involved present their views.

Executive summary

Stephan Barisitz


Stephan Barisitz The East–West Conference 2003, hosted by the Oesterreichische Nationalbank (OeNB) and the Joint Vienna Institute (JVI), took place from 2–4 November and covered the topic ‘The Economic Potential of a Larger Europe – Keys to Success’. Recalling conference topics of previous years in his introductory remarks to the 2003 event, OeNB Governor Klaus Liebscher pointed out how, mirroring the evolution of the transformation process, the conference focus had shifted over time from purely transition-related issues to a more global perspective and a more horizontal approach: to investigating issues such as human capital formation and capacity building, financial stability, a suitable policy mix or structural reform needs. The eve of EU enlargement being an opportune time to revisit, those were the very issues that the East–West Conference 2003 was designed to re-address. Consequently, accounts of capacity building initiatives, assessments of financial market and trade integration, and evaluations of policies for an enlarged EU – in particular of structural policies for an enlarged euro area – are also the key topics of this book. The contributors to this book look at these issues from two complementary perspectives. Some investigate the importance of these factors for the success of the past integration process within the EU as well as for the ongoing transition process in EU accession countries. Others take a forward-oriented approach and address the challenges of a wider and deeper Europe, in particular with a view to monetary integration and the challenges on the road to the euro. Part...