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The Vienna Institute for International Economic Studies Wiener Institut für Internationale Wirtschaftsvergleiche (wiiw) http://www.wiiw.ac.at/ Introduction Sándor Richter richter@wiiw.at
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Triangle of the enlargement process
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The existence of a functioning market economy is assessed an the basis of whether: Equilibrium between demand and supply is established by the free interplay of market forces; prices, as well as trade, are liberalised; Significant barriers to market entry (establishment of new firms) and exit (bankruptcies, liquidations) are absent; The legal system, including the regulation of property rights, is in place; laws and contracts can be enforced; The existence of a functioning market economy (1)
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Macro ‑ economic stability has been achieved including adequate price stability and sustainable public finances and external accounts; Broad consensus about the essentials of economic policy; The financial sector is sufficiently well developed to channel savings towards productive investment. The existence of a functioning market economy (2)
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This sub ‑ criterion is assessed on the basis of the following: the existence of a functioning market economy, with a sufficient degree of macro ‑ economic stability for economic agents to make decisions in a climate of stability and predictability; a sufficient amount, at an appropriate cost, of human and physical capital, including infrastructure (energy supply, telecommunications, transport etc), education and research and future developments in this field; the extent to which government policy and legislation influence competitiveness through trade policy, competition policy, state aids, support for SMEs, etc; The capacity to withstand competitive pressure and market forces within the Union (1)
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the degree and the pace of trade integration a country achieves with the Union before enlargement. This applies both to the volume and the nature of goods already traded with Member States; the proportion of small firms, partly because small firms tend to benefit more from improved market access, and partly because a dominance of large firms could indicate a greater reluctance to adjust. The capacity to withstand competitive pressure and market forces within the Union (2)
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Negotiated Chapters 1Free movement of goods 2Free movement of persons 3Free movement of services 4Free movement of capital 5Company law 6Competition & state aid 7Agriculture 8Fisheries 9Transport 10Taxation 11EMU 12Statistics 13Social policy & employment 14Energy 15Industrial policy 16SMEs 17Science & research 18Education & training 19Telecommunications 20Culture & audiovisual 21Regional policy 22Environment 23Consumers & health protection 24Justice & home affairs 25Customs union 26External relations 27Common foreign & security policy 28Financial control 29Financial & budgetary provisions 30Institutions
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