Restarting real economic convergence in CESEE

Doris Ritzberger-Grünwald () and Josef Schreiner ()
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Doris Ritzberger-Grünwald: Oesterreichische Nationalbank, http://www.oenb.at
Josef Schreiner: Oesterreichische Nationalbank, Economic Analysis Division

Focus on European Economic Integration, 2018, issue Q3-18, 10-23

Abstract: Economic transition, European integration and EU membership have spurred an unprecedented process of social, political and economic modernization in Central, Eastern and Southeastern Europe (CESEE). Economic catching-up, however, has slowed since the Great Recession of 2008. Potential growth rates moderated notably and have not yet returned to the dynamism of the early 2000s. After providing a short overview of the status quo of transition in the 11 CESEE EU Member States2, this study elaborates on the reasons for weakening potential growth by focusing on the contributions of labor, capital and productivity to potential output. At the same time, we try to identify the most suitable policy options to reaccelerate economic dynamics in CESEE in the medium term.

Keywords: Central; Eastern and Southeastern Europe; convergence; potential growth; demography (search for similar items in EconPapers)
JEL-codes: J11 J21 O11 O30 O40 O57 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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