The economics of the Fifth Enlargement: Trade, migration and economic synchronicity

Institutional proximity and the size and geography of foreign direct investment spillovers: Do European firms generate more favourable productivity spillovers in the European Union neighbourhood?

“…If so, it is reasonable to expect that EU-originating investments in these countries will be less speculative and of a more long-term strategic character vis-à-vis investments from other parts of the world, thus plausibly having a more positive impact on the receiving economies. Indeed, studies concerning the CEE accession countries have shown that the prospect of accession was paramount in mobilising foreign investments, as western firms responded to the opportunities offered by the opening of the new markets by changing the geographical organisation of their production thus instigating a wider process of restructuring for the European industry (Clausing and Dorobantu, 2005;Crescenzi et al, 2014;Monastiriotis and Agiomirgianakis, 2009). In a sense, these movements were part of a deeper integration process, reflecting the significant linkages that developed on the ground, which in turn facilitated sizeable technology transfers to CEE countries.…”