What Happened to the Economic Convergence of Central and Eastern Europe after the Global Financial Crisis?

17 Pages Posted: 2 Jul 2018

See all articles by Anders Åslund

Anders Åslund

Institute for International Economics

Date Written: March 2018

Abstract

During the boom years 2000–2007, the new Central and East European (CEE) members of the European Union (EU) had more than twice as high economic growth as the 15 countries that were members of the EU before 2004. From 2010, however, their growth rates have been mediocre though still higher than those of the older EU members. This paper investigates seven structural benchmarks, fiscal burden, tax system, labor markets, education, pensions, governance, and research and development. The CEE countries are continuing to perform quite well in all these regards apart from research and development. Another cause of concern is large emigration. Thus, growth of GDP per capita instead of GDP growth looks much better for the CEE countries. No middle-income trap is apparent.

Keywords: Central and Eastern Europe, European Union, Economic growth, Structural reform, Demography

Suggested Citation

Åslund, Anders, What Happened to the Economic Convergence of Central and Eastern Europe after the Global Financial Crisis? (March 2018). Comparative Economic Studies, Vol. 60, Issue 2, 2018. Available at SSRN: https://ssrn.com/abstract=3206658 or http://dx.doi.org/10.1057/s41294-018-0060-x

Anders Åslund (Contact Author)

Institute for International Economics ( email )

1750 Massachusetts Avenue, NW
Washington, DC 20036
United States

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