Austria in the European Economic Area

The European Economic Area (EEA) constitutes an intermediate step on the road towards European integration. While the EEA should transfer a number of the benefits of the EC internal market to the EFTA countries, only EC membership guarantees full integration into the EC on an equal level. Starting from the state of information of April 1991, WIFO estimates the total economic effects of Austria's participation in the EEA by means of a simulation model. The medium-term integration effects to be expected (i. e. an increase in real GDP by 2.3 percent) are between those of staying outside the EC (without EEA) – the internal market in this case would raise Austrian GDP by 1.5 percent above the base line – and the growth effects of full membership – estimated at 3.6 percent.Österreich im EWR. Gesamtwirtschaftliche Auswirkungen; Austria in the European Economic Area