Fiscal Challenges Facing the New Member States

被引:0
|
作者
Dabrowski, Marek [1 ]
Antczak, Malgorzata [1 ]
Gorzelak, Michal [1 ]
机构
[1] CASE Ctr Social & Econ Res, 12 Sienkiewicza St, Warsaw, Poland
关键词
European union; enlargement; fiscal policy; Maastricht criteria;
D O I
10.1057/palgrave.ces.8100159
中图分类号
F [经济];
学科分类号
02 ;
摘要
This paper provides an analysis of the fiscal challenges faced by the eight transition economies, which joined the European Union (EU) in May 2004. More than half of them run excessive fiscal deficits being partly a legacy of an early transition period, partly - a consequence of additional accession-related costs. In addition, the longterm fiscal outlook, connected with the consequences of population ageing, is dramatic. On the other hand, the perspective of Economic and Monetary Union entry should provide the new member states with a strong incentive to reduce their deficits now because waiting (and postponing both fiscal adjustment and the adoption of the euro) will only result in higher cumulative fiscal costs.
引用
收藏
页码:252 / 276
页数:25
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