Challenges after the Crisis in Emerging Europe: A Look outside the EU Borders

Kristel Buysse and François Gurtner

Chapter 7 in From Crisis to Recovery, 2012, pp 164-209 from Palgrave Macmillan

Abstract: Abstract AbstractWhile preceding chapters examined the entire region of Central, Eastern and South-Eastern Europe, this chapter focuses on the subset of countries that are not Member States of the European Union. We look in particular at the candidate and potential candidate countries in the western Balkans and Ukraine. It is, admittedly, a group of countries marked by an extreme diversity of economic structures, orientation, developments and challenges. Such diversity can be seen, for instance, in terms of the fall-out of the global economic and financial crisis that started in 2008. Non-EU emerging Europe hosts some of the most resilient economies on the European continent, with Albania recording the highest real GDP growth at more than three per cent in Europe, but also some of the hardest-hit ones, including Ukraine, where the 15 per cent contraction in real GDP growth in 2009 was of a similar magnitude as in the severely hit Baltic countries.

Keywords: Exchange Rate; Monetary Policy; Euro Area; Exchange Rate Regime; Current Account Deficit (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-03483-0_8

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DOI: 10.1057/9781137034830_8

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