Catching-up in Central and Eastern Europe and East Asia: commonalities and differences

Michael Landesmann

Chapter 10 in 30 Years of Transition in Europe, 2020, pp 107-121 from Edward Elgar Publishing

Abstract: This paper compares the catching-up processes of East Asian (EA) economies (principally, Japan, Korea and China) in the post-World War II period with the catching-up experiences in Central and Eastern Europe (CEE) in the post-1989 period. The article covers four different areas that shaped the different experiences and chosen policies: (1) the different international environment of the different sets of countries, (2) the choices of policies particularly with respect to industrial policies and foreign direct investment, (3) the issue of external imbalances and the importance of building up export capacities, and (4) the role of the state and institutional developments. The paper concludes with a forward-looking perspective on CEE’s prospects as they will be shaped by demographic challenges, the prospects of EU integration or, respectively, disintegration and the geo-political shifts that the increasing weight of Asia implies for international economic and political relationships.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2020
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