"The Road to Europe - Macroeconomics of Accession to the European Union " 

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Below you will find the list of content of the report:

Contents:

1. Introductory remarks
2. How to measure long-term benefits of integration?

2.1. Starting point: gap in economic development
2.2. Benefits of integration: serious and naive measures
2.3. Long-term trends of development gap reduction
2.4. Risk of economic peripheralization
2.5. Richard Baldwin's unpleasant integration arithmetic

3. Impact of integration on balance of payments

3.1. Trade aspect of integration: structural deficit
3.2. Main cause of deficit: real exchange rate appreciation
3.3. Sources of increased foreign exchange supply
3.4. Causes of current account deficit: statistical verification
3.5. Conclusions

4. Integration and economic growth

4.1. Does trade deficit always affect economic growth negatively?
4.2. Changes in structure and sources of GDP growth
4.3. Impact of budget deficit on consumption and investment
4.4. Structure of inflow of foreign savings and economy's absorptive capacities
4.5. What determines growth benefits? Statistical verification
4.6. What determines growth benefits? Experimental verification
(economic integration of Germany 1990-1994)
4.7. Conclusions

5. Integration and macroeconomic equilibrium

5.1. Macroeconomic convergence: objectives and instruments
5.2. How to reduce inflation?
5.3. Long-term stability of public finance
5.4. What determines macroeconomic convergence? Statistical verification
5.5. Can convergence and growth be reconciled? (case of Ireland)
5.6. Conclusions

6. Sectorial problems: special case of agricultural policy

6.1. Common Agricultural Policy - essence and consequences (outline)
6.2. Actual and false strategic choice for Polish agricultural policy
6.3. Effective and ineffective instruments of agricultural policy
6.4. Sectorial, fiscal and macroeconomic dimensions of agricultural policy
6.5. Conclusions for agricultural policy

7. Conclusions: possible integration strategies

Appendix 1. Economic integration theory (outline)

A.1.1. Barriers in international cooperation and degrees of economic integration
A.1.2. Static effects of integration: theory of customs unions
A.1.3. Integration of markets for production factors and dynamic effects of integration
A.1.4. Monetary and fiscal integration

Appendix 2. Short- and medium-term growth benefits of integration. Theoretical model

Appendix 3. Macroeconomic model for analysis of Polish agricultural policy

A.3.1. Computable general equilibrium model POLAGR
A.3.2. Model characteristics
A.3.3. Structure of POLAGR model
A.3.4. Results of simulations

Bibliography