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The selected papers in this volume were prepared under the research project on “EU Eastern Neighborhood: Economic Potential and Future Development (ENEPO)” funded by the EU Sixth Framework Program. They discuss the broad spectrum of development issues in the EU Eastern Neighborhood and economic relations between the enlarged EU and its Eastern neighbors in the former USSR. Individual chapters address areas of economic and social development, trade, energy, investment, migration, costs and benefits of economic reforms, development assistance and political economy of policy reforms. In particular, they examine interrelations and mutual synergies between trade liberalization, inflow of foreign investment, economic and institutional reforms and a reduction of income and development disparities. The publication thus closes an important knowledge gap in respect to the economic, social and institutional development of the CIS region and its economic relations with the EU.

Economic development -- European Union countries -- International cooperation. --- Economic development -- Former Soviet republics -- International cooperation. --- Economic policy. --- Economics -- European Union countries. --- Economics -- Former Soviet republics. --- Economics --- Economic development --- Economic policy --- Business & Economics --- Economic Theory --- Economic History --- International cooperation --- Development, Economic --- Economic growth --- Growth, Economic --- International economics. --- European Economic Community literature. --- Development economics. --- Economics. --- Emigration and immigration. --- European Integration. --- Economic Policy. --- Economic Systems. --- Development Economics. --- International Economics. --- Migration. --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- European Economic Community lite. --- Political Economy/Economic Systems. --- Economic policy, Foreign --- Economic relations, Foreign --- Economics, International --- Foreign economic policy --- Foreign economic relations --- Interdependence of nations --- International economic policy --- International economics --- New international economic order --- International relations --- Economic sanctions --- Economic theory --- Political economy --- Social sciences --- Economic man --- Economic nationalism --- Economic planning --- National planning --- State planning --- Planning --- National security --- Social policy --- Immigration --- International migration --- Migration, International --- Population geography --- Assimilation (Sociology) --- Colonization

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Migration. Refugees --- Economic order --- Economic policy and planning (general) --- Economic conditions. Economic development --- Foreign trade. International trade --- Developing countries: economic development problems --- economische politiek --- ontwikkelingssamenwerking --- economische systemen --- migratie (mensen) --- wereldeconomie --- internationale economie --- Europese eenmaking --- Europe

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In many developing countries, the supply of skilled workers is likely to continue to be stronger than demand, and this should drive down the skill premium and reduce inequality. Within the limitations of any exercise based on simulations, this paper finds that the recently observed reduction in inequality in Latin America may continue. Building on counterfactual scenarios projecting economic and demographic (including age and education) growth, the paper also highlights that by 2030 the long-awaited rise of the middle class in Latin America will be in full swing, as its share will be 43 percent of the total population, twice the value in 2005. This achievement is not guaranteed, as countries with large initial inequalities will have to achieve very high rates of inclusive growth. At the same time, a larger middle class is likely to exert a stronger influence on international and domestic policy making.

Economic Theory & Research --- Emerging Markets --- Health, Nutrition and Population --- Inequality --- Macroeconomics and Economic Growth --- Middle Class --- Population Policies --- Poverty Reduction --- Private Sector Development --- Skill Premium

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This paper assesses and compares the economic impacts of four actual and potential free trade agreements in the Asia-Pacific Region: the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the original Trans Pacific Partnership, the Regional Comprehensive Economic Partnership, and the Free Trade Area of the Asia-Pacific. Free trade areas with a larger scale and wider membership are expected to produce higher aggregate gains in increased gross domestic product and trade flows. U.S. withdrawal from the original Trans-Pacific Partnership reduced estimated gross domestic product gains for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership countries by about half. For countries belonging to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and also negotiating the Regional Comprehensive Economic Partnership, the potential gains from an agreement with China and the Republic of Korea are substantial, but not as large as if the United States were to rejoin the original Trans-Pacific Partnership. On a sectoral basis, significant structural shifts are observed for food processing, wearing apparel, textiles, and transport equipment.

Asia-Pacific Trade --- CPTPP --- FTA --- International Economics and Trade --- International Trade and Trade Rules --- RCEP --- Regional Trade --- TPP --- Trade Agreement --- Trade And Investment --- Trade and Regional Integration --- Trade Policy --- Trans-Pacific Partnership

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The virus that triggered a localized shock in China is now delivering a significant global shock. This study simulates the potential impact of COVID-19 on gross domestic product and trade, using a standard global computable general equilibrium model. It models the shock as underutilization of labor and capital, an increase in international trade costs, a drop in travel services, and a redirection of demand away from activities that require proximity between people. A baseline global pandemic scenario sees gross domestic product fall by 2 percent below the benchmark for the world, 2.5 percent for developing countries, and 1.8 percent for industrial countries. The declines are nearly 4 percent below the benchmark for the world, in an amplified pandemic scenario in which containment is assumed to take longer and which now seems more likely. The biggest negative shock is recorded in the output of domestic services affected by the pandemic, as well as in traded tourist services. Since the model does not capture fully the social isolation induced independent contraction in demand and the decline in investor confidence, the eventual economic impact may be different. This exercise is illustrative, because it is still too early to make an informed assessment of the full impact of the pandemic. But it does convey the likely extent of impending global economic pain, especially for developing countries and their potential need for assistance.

COVID-19 (Disease) --- Gross domestic product. --- International trade. --- Economic aspects.