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Two decades in the European Union: How have they been for the Visegrad Four states?

In: CNB Global Economic Outlook - May 2024

Author

Listed:
  • Martin Kabrt
  • Lubos Komarek
  • Petr Polak
  • Michaela Rysava
  • Pavla Netusilova

Abstract

This article compares how the Visegrad Four states (the Czech Republic, Hungary, Poland and Slovakia) have performed in the two decades of their EU membership. First, we will look at the progress they have made in economic convergence towards the EU average, in particular in terms of real GDP per capita, and the price level and wage level achieved. We will then examine how successful the individual states have been in terms of allocating European money to projects co-financed by the EU. Yet the main focus of our article is to serve as a reminder that the greatest benefits for the V4 states and the EU as a whole are the four freedoms, i.e. the free movement of goods, services, capital and people. Finally, we look at the V4 states through the lens of the regular "report card" issued by rating agencies.

Suggested Citation

  • Martin Kabrt & Lubos Komarek & Petr Polak & Michaela Rysava & Pavla Netusilova, 2024. "Two decades in the European Union: How have they been for the Visegrad Four states?," Occasional Publications - Chapters in Edited Volumes, in: CNB Global Economic Outlook - May 2024, pages 14-20, Czech National Bank.
    • Handle: RePEc:cnb:ocpubc:geo2024/5
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