Examining the European Transition: Central Eastern European Countries Two Decades post-EU Accession

Abstract

The year 2024 is particularly noteworthy as it marks the 20th anniversary of the European Union's most significant expansion, with ten countries joining the EU. This paper aims to examine the current stage of economic transformation in these 11 Central and Eastern European (CEE) countries, 20 years after their accession, and to identify the sources of their success. The study assesses the initial conditions at the time of EU accession for countries such as the Czech Republic, Poland, Slovakia, Hungary, Estonia, Lithuania, Latvia, and Slovenia in 2004, followed by Bulgaria and Romania in 2007, and Croatia in 2013. It then analyzes the economic perspectives two decades post-accession, summarizing the recent growth drivers. Over the past two decades, the CEE-EU bloc has achieved remarkable GDP growth rates and social progress, demonstrating the effectiveness of structural reforms, both political and economic, integration into the European single market and global value chains, as well as openness and a willingness to learn from others.