How Far is Eastern Europe from Brussels?

37 Pages Posted: 17 Jun 1998

See all articles by Stanley Fischer

Stanley Fischer

Bank of Israel; National Bureau of Economic Research (NBER); International Monetary Fund (IMF)

Ratna Sahay

International Monetary Fund (IMF) - Developing Country Studies Division; National Bureau of Economic Research (NBER)

Carlos A. Vegh

Johns Hopkins University - Paul H. Nitze School of Advanced International Studies (SAIS); University of Maryland - Department of Economics; University of California at Los Angeles; National Bureau of Economic Research (NBER)

Date Written: April 1998

Abstract

The current destination of Central and Eastern European countries -- explicitly for some, implicitly for all -- is Brussels. The concept of distance from Brussels is multi-dimensional. One simple measure, not without theoretical and empirical justification, is physical distance. This paper's focus, however, lies more in the distances in time and economic space. The paper first compares income gaps between Central and Eastern European and European Union (EU) countries, then evaluates recent economic performance in Central and Eastern Europe in light of EU standards and, finally, addresses the question of how long it will take the Central and Eastern European countries to close the income gap with EU countries.

JEL Classification: F15, F41, F43, P20

Suggested Citation

Fischer, Stanley and Sahay, Ratna and Vegh, Carlos A., How Far is Eastern Europe from Brussels? (April 1998). IMF Working Paper No. 98/53, Available at SSRN: https://ssrn.com/abstract=92557 or http://dx.doi.org/10.2139/ssrn.92557

Stanley Fischer

Bank of Israel ( email )

P.O. Box 780
Jerusalem, 91907
Israel

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

Ratna Sahay

International Monetary Fund (IMF) - Developing Country Studies Division ( email )

700 19th Street NW
Washington, DC 20431
United States
202-623-7181 (Phone)
202-623-7271 (Fax)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Carlos A. Vegh (Contact Author)

Johns Hopkins University - Paul H. Nitze School of Advanced International Studies (SAIS) ( email )

1740 Massachusetts Avenue, NW
Washington, DC 20036-1984
United States

University of Maryland - Department of Economics ( email )

College Park, MD 20742
United States

University of California at Los Angeles ( email )

Box 951477
Los Angeles, CA 90095-1477
United States
310-825-7371 (Phone)
310-825-9528 (Fax)

HOME PAGE: http://vegh.sscnet.ucla.edu

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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