Towards a new growth model in CESEE three challenges ahead
We revisit the factors of convergence and growth in Central, Eastern and South Eastern Europe (CESEE). While the key elements that were driving pre-crisis convergence - rapid export growth, propelled by low wages, capital inflows and technology import, and catalysed by the EU accession - gave a stro...
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| Veröffentlicht in: | Does EU membership facilitate convergence? ; Volume 1: Overall trends and country experiences |
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| 1. Verfasser: | |
| Weitere Verfasser: | , , , |
| Pages: | 1 |
| Format: | UnknownFormat |
| Sprache: | eng |
| Veröffentlicht: |
2021
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Tag hinzufügen | Zusammenfassung: | We revisit the factors of convergence and growth in Central, Eastern and South Eastern Europe (CESEE). While the key elements that were driving pre-crisis convergence - rapid export growth, propelled by low wages, capital inflows and technology import, and catalysed by the EU accession - gave a strong impetus to economic progress, these factors have been weakened after the crisis due to changes in the labour market, demographics and slowdown of capital inflows. As a consequence, potential growth in CESEE economies decelerated. To maintain an adequate speed of convergence, a prospective "new growth model" is emerging as a candidate to be the driving force of growth in CESEE. The key elements of this growth model should be based on home-grown innovation to increase productivity, policies supporting the preservation and development of the productive labour force, and a system of financial intermediation that supports domestic savings. |
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| Beschreibung: | Bibliografie: 121-122 |
| Beschreibung: | Diagramme |
| ISBN: | 9783030576851 |