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The post-communist states of Central and Eastern Europe have successfully managed the transition from plan to market economy. Through law harmonisation, acquis screening and demanding requirements imposed by the Commission, EU accession helped the economies entering a growth path, receiving foreign investment and reorienting their trade. On the other hand, since the Central and Eastern European states have joined one of the slowest growing regions in the world economy, the Union in its present shape will no more contribute to the acceleration of endogenous growth. This implies a need for reassessing the politico-economic strategies of the new member states. Salient features include professional talk in public debates, sustainable public finances and a major fiscal adjustment as well as fostering long-term financial savings. Structural reforms faced by old and new EU member states are thus overlapping to a large degree.

Transition in and towards Europe: Economic Development and EU Accession of Post-Communist States