A tribute to 30 years of transition in CESEE

Peter Backé (), Iikka Korhonen, Doris Ritzberger-Grünwald () and Laura Solanko
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Peter Backé: Oesterreichische Nationalbank, Foreign Research Division, http://www.oenb.at
Doris Ritzberger-Grünwald: Oesterreichische Nationalbank, http://www.oenb.at

Focus on European Economic Integration, 2019, issue Q3/19, 11-28

Abstract: We provide a selective review of transition and transformation in Central, Eastern and Southeastern Europe (CESEE), with a focus on issues particularly relevant from a central banking point of view. In doing so, we examine transformation strategies, compare transition experiences across CESEE and shed light on public perceptions of transition outcomes. We point out the EU’s role as an important anchor in the process. We cover cyclical swings in CESEE, in particular the boom-bust experience before and during the financial crisis. Moreover, we reflect on the eastward enlargement of the euro area, as it has included a number of CESEE EU Member States. Furthermore, we review the core areas of the research and analysis on CESEE carried out by the Bank of Finland Institute for Economies in Transition (BOFIT) and the Oesterreichische Nationalbank (OeNB) as well as their cooperation in CESEE-related activities.

Keywords: CESEE; transition; economic development; central banking (search for similar items in EconPapers)
JEL-codes: E50 F63 N14 O52 P20 (search for similar items in EconPapers)
Date: 2019
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