Postsocialist Countries: Macroeconomic Performance, Growth Prospects, and Social Welfare

Zbigniew Matkowski

Eastern European Economics, 2004, vol. 42, issue 3, 44-80

Abstract: The article presents a comparative analysis of the current economic situation in twenty-seven postsocialist countries of Europe and Asia, as reflected by the latest available data from various international sources. The ultimate aim is to assess the economic and social effects of transformation toward an open market economy and to elucidate the chances and threats related to further development. Current macroeconomic performance and long-term economic prospects seem to be best in Central Eastern Europe, but quite poor in the least developed countries of the Commonwealth of Independent States and the Balkans. Much of the same applies to the living standards, which have risen in the first subgroup, but rather decreased in the second. Russia, with its huge resources and a strong impact on most neighboring countries, remains the main source of uncertainty.

Date: 2004
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