How Far Is Eastern Europe from Brussels?

Ratna Sahay, Carlos Végh Gramont and Stanley Fischer

No 1998/053, IMF Working Papers from International Monetary Fund

Abstract: The current destination of Central and Eastern European countries—explicitly for some, implicitly for all—is Brussels. The concept of the distance from Brussels is multi-dimensional. One simple measure, not without theoretical and empirical justification, is physical distance. This paper’s focus, however, lies more in the distances in time and economic space. The paper first compares income gaps between Central and Eastern European and European Union (EU) countries, then evaluates recent economic performance in Central and Eastern Europe in light of EU standards. Finally; addresses the question of how long it will take the Central and Eastern European countries to close the income gap with EU countries.

Keywords: WP; CEE country; country; transition; convergence; CEE transition country; CEE countries to the EU; countries of CEE; transition countries in Central and Eastern Europe; Personal income; Government consumption; Fiscal stance; Inflation; Population growth; Western Europe; Central and Eastern Europe; income gap; gaps between CEE; estimating income; Income; Eastern Europe (search for similar items in EconPapers)
Pages: 37
Date: 1998-04-01
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