Economic development in Malta and Cyprus before and after EU membership

Abstract

This dissertation will investigate the economic development of Malta and Cyprus before and after EU membership. An analysis of what happened in each country will be undertaken and the developments will be compared to those observed for the EU-28 average. In this dissertation a detailed comparison between Malta and Cyprus is attempted. The EU-2020 targets are examined in the context of what these two countries achieved and it is discussed how they are going to reach these targets. The last European semester, approved by the European Commission, of both Malta and Cyprus is quoted so that the recommendations given will be analysed. Some relevant pillars found in the Global Competitiveness Index are selected to compare these two island countries. Malta and Cyprus are two of the smallest members joining the European Union in 2004 and the Economic and Monetary Union in 2008. They face the same challenges because of similar vulnerabilities because they are small island states. The EU funds available for member countries will be examined and analysed in this context. Accession countries take advantage on joining the EU and in this dissertation we will analyse the benefits and drawbacks faced by these two countries. The main questions to be answered are to find which of the two countries gained more from EU membership and to economically compare these two countries both before and after EU membership.