The Economic Integration Maturity of Romania and Bulgaria

Abstract

The paper discusses the issue of integration maturity in the case of Romania and Bulgaria. These countries joined the European Union in 2007 and since then several economic issues and problems were revealed related to their accession. The aim of this paper is to analyze the economic integration maturity of Romania and Bulgaria at the time of their accession and since then. The paper suggests that although these countries fulfilled the Copenhagen criteria were not fully prepared to join the EU markets. The paper forms the hypothesis that Romania and Bulgaria did not fulfill all the criteria of economic integration maturity and were not fully ready to join the EU in 2007. However, by the time of their accession, their readiness was appropriate to join. To prove this, the paper uses the methodology of economic integration maturity. The concept of integration maturity is more complex than the economic accession criteria since it shows how a candidate country is able to exploit the benefits of membership and minimize its drawbacks before and after the accession. Based on data analysis and document analysis it can be examined how successfully these countries could exploit the economic stimulating effects of joining the economic integration, how effectively took advantage in cohesion and convergence to the other member states during their membership. In sum, it can be stated whether Romania and Bulgaria were able to exploit the benefits of their membership and minimize the drawbacks.