The Impact of the European Union

„In these times, when many see the European Union as a primarily geopolitical project, this book by István P. Székely reminds us about the developmental effects. This is actually what the citizens expect and where the EU has actually delivered a lot.”
— László Andor , Secretary General (FEPS), and former EU Commissioner

“This timely and ambitious book offers a rich and wide-ranging analysis of how European integration shapes economic, social, institutional, and environmental development across the continent. ”
— Sergei Guriev , Dean of London Business School, UK, and former Chief Economist of the European Bank for Reconstruction and Development

“Supported by rich empirical evidence and rigorous economic analysis, this volume offers a critical assessment of the multifaceted structure and operations of the EU fiscal and monetary frameworks.”
— George Kopits , Member, European Fiscal Board

“A thorough analysis of the European Union's developmental role, probing the implications of fairness and sustainability for the deep integration of a community fit for all. Its emphasis on the importance of good institutions makes it an outstanding book.”
— David Newbery , University of Cambridge, UK

This book explores how the European Union shapes the economic, social, institutional, and environmental development of its member states. Its analytical framework offers unique insight into recent developments in Europe, including the gradual loss of competitiveness, the slowdown in the convergence of some recently acceding Member States, and the divergence of the Southern European Member States from the global frontier of development. Weak and uneven institutions, resulting from the poor functioning of the institutional channel, prevent many Member States from fully realising the potentially large economic benefits of European integration, from converting economic progress into social progress, and from maintaining fairness across the different dimensions of development.

Informed by evidence-based economic theory and real-world case studies, the evolution of European integration is presented in an accessible way, supported by graphs and summary points. It will be relevant to students, researchers, and policymakers interested in the economics and politics of the European Union.

István P. Székely is a retired Director of the Directorate-General for Economic and Financial Affairs at the European Commission. He is also Co-Editor-in-Chief of  Acta Oeconomica , and an Honorary Professor at Corvinus University, Budapest, Hungary.