Models of Economic Growth. Case Study: Central and Eastern Europe

Economic growth is a key concept in developing countries and in designing growth models becoming more efficient. This paper begins by defining the concept of growth, identifying and presenting the factors that contribute to achieving it, and finally the European growth model is outlined for attaining this objective. Given the global financial crisis started in 2008, were analyzed performance of growth models used in Central and Eastern Europe, an attempt to identify causes and effects. Thus, we have outlined three growth models: robust, moderate and a model with economic contraction.