Abstract
Subject The next development stage for CEE economies. Significance The global recession of 2008-09 and the ensuing euro-area crisis of 2011-12 hit the eleven Central-East European (CEE) EU member states hard. The crises raised questions about the region's growth model, which was heavily reliant on foreign capital inflows that are unlikely to return to pre-crisis levels for the foreseeable future. At the same time, CEE countries are approaching the limits of easy catch-up growth, and face the challenge of moving to more knowledge-driven economies. However, the struggles of other large emerging markets as they approach the middle-income trap, combined with evidence of continued dynamism in CEE economies, are resulting in fresh appreciation of their strong underlying fundamentals. Impacts West European firms will continue to look to invest in CEE as they seek to become more competitive. CEE countries' continued competitiveness suggests that economic convergence with Western Europe will continue for most. CEE economies will remain a source of economic dynamism for the EU.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.