Globalisation and Development: New Evidence from Central and Eastern Europe

Lucian Cernat and Radu Vranceanu

Comparative Economic Studies, 2002, vol. 44, issue 4, 119-136

Abstract: To various degrees, Central and Eastern European countries increased their participation to the world economy over the last ten years. In particular, they accepted the challenge of trade openness and attracted significant foreign direct investment. This paper assesses the impact of these major changes on output growth in this region. Results of a panel data analysis suggest that increased EU integration and openness as well as reduced import duties were favourable to development. There is also evidence that increased FDI inflows may be associated with better output performances. Comparative Economic Studies (2002) 44, 119–136; doi:10.1057/ces.2002.22

Date: 2002
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