Narodowy Bank Polski

IMF and National Bank of Poland to Hold High-level Conference on Labor and Capital Flows in Europe Following EU Enlargement

A high-level conference, Labor and Capital Flows in Europe Following Enlargement jointly organized by the International Monetary Fund (IMF), the Joint Vienna Institute and the National Bank of Poland, will be held at the NBP on January 30-31.

The EU enlargement in May 2004 brought a number of countries with relatively low income levels into the European Union. Equalizing incomes between the new and old member states will almost certainly involve labor flows from east to west and capital flows from west to east.

The conference will bring together policy makers and academic experts for an informed discussion about the costs and benefits of this process, which, while entailing considerable opportunities for both new and old member states, will also bring changes that could generate political resistance. Drawing on the experiences with labor and capital flows both inside and outside Europe, three main questions will be addressed.
  • First, how large are labor and capital flows in the enlarged union likely to be? To the extent that labor mobility is limited, will capital flows be larger?
  • Second, how will the balance between labor and capital flows affect growth, wages, employment and economic structures in sending and receiving countries?
  • Third, what policies will enhance the benefits and mitigate the costs of labor and capital flows?

Michael Deppler, Director of the IMF's European Department, Leslie Lipschitz, Director of the IMF Institute, and Susan Schadler, Deputy Director in the IMF's European Department will hold a press conference at the conclusion of the conference on January 31, 2006 at 13:00 in Grabski's Room.

Journalists interested in covering the press conference should contact
  • Przemysław Kuk (48 22 653 25 27)
in the NBP press office no later than January, 30, 2006 for their accreditation.

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