Eastern European Economies Amidst the Global and Regional Shocks

Marek Dabrowski, Christopher Hartwell, Olga Popova, Jan Hagemejer and Vladimir Otrachshenko

No 511, CASE Reports from CASE-Center for Social and Economic Research

Abstract: The Eastern neighbourhood of the European Union (EU), comprising Armenia, Azerbaijan, Belarus, Georgia, Moldova, Russia, and Ukraine, has faced persistent economic and geopolitical challenges. Since the collapse of the Soviet Union, these nations have grappled with economic transition, political instability, and repeated global crises, including the 2008 financial crash, the 2014–2015 commodity price decline, the COVD-19 pandemic, and the ongoing inflation surge. Russia’s full-scale invasion of Ukraine in 2022 has further exacerbated these difficulties, disrupting trade, investment, and energy security while affecting economies across the region. This comprehensive report: Eastern European Economies Amidst Global and Regional Shocks published in series CASE Report analyses the economic impact of these crises, focusing on four key areas: macroeconomic stability, financial sector resilience, external trade and investment, and energy security. While Moldova has been particularly affected by war-related disruptions, Armenia and Georgia have experienced benefits from increased trade and migration inflows from Russia. Additionally, political instability, the rise of authoritarianism in several states, and unresolved territorial disputes continue to shape economic policies and growth prospects.

Keywords: Moldova; economic growth; economic security; energy dependence; foreign trade; financial sector; current account (search for similar items in EconPapers)
JEL-codes: O11 O16 O20 (search for similar items in EconPapers)
Date: 2025-04-01
New Economics Papers: this item is included in nep-cis and nep-tra
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