Abstract
Country risk : is Eastern Europe specific ? Apart from distinct past of other emergent countries and particularities, the specificity of Eastern Europe comes from the EU accession process. Today, we show that there is not any more default risk on public debt, or major fears on institutional environment. However a risk of economic crisis remains and must not be ignored. Paradoxically, this risk is linked to financial convergence implied by EU accession. This process is not easily compatible with the needed growth and purchase power catch up. JEL classifications : F21, F34, F36, P34, P35
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