Economic Performance of Six Economies of Central and Eastern Europe

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 8 in Trade, Development and Structural Change, 2018, pp 183-294 from Palgrave Macmillan

Abstract: Abstract The transition decade of the 1990s was characterized by a dramatic rise in exports, which rose steadily during 1990–1995 but then doubled in the latter half of the decade (see Table 8.33.1). Germany’s share, as the leading economy of the European Union, doubled during the whole period, while the advanced economies of the European Union came to hold 75 percent of aggregate exports by 1999. Overall, the restructuring of the economy was catalyzed by export-led growth. During the 1990s, mostly under the Mečiar regime, the Slovak Republic was considered as a low-energy reformer compared to, for example, Poland; its ability to attract FDI was remarkably poor, particularly in contrast to the Czech Republic; yet, its growth performance was really good testifying to the fact that the structural reforms do not necessarily depend on traditional prescriptions of neo-classical economics or even the Washington Consensus.

Date: 2018
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DOI: 10.1057/978-1-349-59005-6_8

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