This volume brings together contributions on the major economic policy issues which have opened up as a result of the process of European Union enlargement. The issues analysed range from modelling and analysing the costs and benefits of enlargement, to challenges for macroeconomic policy both at the EU level and in the new member countries, to the state of affairs in the new member countries with respect to sectoral policy reforms such as those undertaken in the financial sector and in competition policy, and the impact of enlargement on Europe's trade policy agenda. ÍNDICE M.Landesmann & D.K.Rosati - PART I: MACROECONOMICS POLICY ISSUES - Macroeconomic Policy and Institutions During the Transition to European Union Membership W.H.Branson, J.Braga de Macedo & J.von Hagen - Exchange Rate Policy in Central and Eastern Europe in the Context of EU Accession G.Kopits - PART II: SECTORAL ISSUES: TRADE POLICIES, COMPETITION POLICY AND FINANCIAL SECTOR REFORM - European Trade Policies: Clouds on the Horizon? P.A.Messerlin - Preparing for EU Membership: Restructuring the Banking Sector in Hungary G.Suranyi - EU Accession and the Evolution and Design of Competition Policy A.TOrOk - PART III: THE ECONOMIC EFFECTS OF ENLARGEMENT - Consequences of Accession: Economic Effects on CEECs P.Havlik, M.Landesmann & S.Richter - The Political Millennium Event 'EU Enlargement' as an Economic Challenge F.Breuss - PART IV: EXPERIENCES OF PREVIOUS ACCESSIONS AND LESSONS FOR CEECS - Lessons to be Learnt from Earlier Accessions K.Laski &R.ROmisch - Moving the Escudo into the Euro J.Braga de Macedo, L.C.Nunes & F.Covas - The Experience of Greece: Delayed Adjustment L.Tsoukalis - PART V: GROWING DISPARITIES IN EUROPE - The Impact of EU Enlargement on Economic Disparities in Central and Eastern Europe D.K.Rosati - The Prospects for Further (South-) Eastern EU Enlargement: Can Convergence Withstand Divergence? R.Dobrinsky - The Impact of EU Enlargement on Countries Beyond the New Frontiers O.Havr