Economic relations between Russia and the Central European countries

Kalman Dezseri ()

No 111, IWE Working Papers from Institute for World Economics - Centre for Economic and Regional Studies

Abstract: Geographical proximity in the relations between Russia and the Central and Eastern European (CEE) countries means that any economic or financial crisis in Russia has had almost immediate effects on the CEE countries during the last decade. These appeared mainly in the CEE countries’ export performance, very strongly in some countries. Although reliance on Russia as a supplier has lessened considerably since the transition in Central and Eastern Europe began, Russia is still the main market for some important exports. When the Russian market ceased to decline steeply during 1993 and 1994, it brought to a premature halt the process of company restructuring in several CEE countries, especially the Baltic states and countries in the Balkans. Many companies initially forced by the collapse of COMECON to improve the quality of their products and seek other markets returned to an easier and more familiar market. The main question for the future is whether CEE companies follow a promising scenario, in which they have the determination, the capital, and the market access to follow up their new leads, or whether, in a bad scenario, they simply wait for the Russian economy to revive.

Keywords: Russia; Central and Eastern European countries; Baltic states; economic relations; the Balkans; COMECON (search for similar items in EconPapers)
Pages: 26 pages
Date: 2000-08
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Persistent link: https://EconPapers.repec.org/RePEc:iwe:workpr:111

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