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Introduction: The Journey Begins

Anca M. Voicu, Somnath Sen and Inmaculada Martínez-Zarzoso
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Anca M. Voicu: Rollins College
Somnath Sen: The University of Birmingham

Chapter 1 in Trade, Development and Structural Change, 2018, pp 1-14 from Palgrave Macmillan

Abstract: Abstract This chapter discusses briefly the transition journey that Central and Eastern European Countries (CEECs) have travelled in the last two to three decades. It mentions the faltering early years, the sunk costs of transition, the transformation into maturing upper-income countries, the expansion of trade as well as the process of integration with the European Union, which acts as a core catalyst in growth acceleration. It highlights the importance of trade in general and its importance for the CEECs in particular. We explain the advantages of specialization and trade. We also present the challenges that trade faces in the context of globalization.

Date: 2018
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DOI: 10.1057/978-1-349-59005-6_1

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