Regional cooperation and the enlargement of the European Union: Lessons learned?

The article evaluates and attempts to draw some lessons from the recent initiatives aimed at stimulating regional cooperation among transition economics in Northern, Central, and South-Eastern Europe. Although these initiatives varied significantly in their scope, objectives, and domain of activity, the author highlights the common elements and discusses both their major achievements and greatest weaknesses. The author then relates these initiatives to the recent theoretical debate on regionalism, the main conclusions in the empirical literature, and the most important policy issues concerning current integration processes and EU enlargement. The role of subregional economic cooperation among transition economics is examined within the context of the problems posed by the variable speed integration policies of the European Union. The general conclusion is that the overall experience of regional cooperation among European transition economies has, on balance, been positive, though clear limitations and many unresolved questions remain.