In 2005 most of the new EU member states (NMS) performed even better than in 2004. They have successfully managed the accession to the EU and gained the ability to grow fast despite the anaemic performance of the old EU. FDI inflows reached a record high. In the coming two years, economic...

The 1st of May 2007 marked the third anniversary of the accession of the new member states (NMS) to the European Union the economic balance of the first three years is a clear success for the whole EU. Over the period 2001-2003 GDP in the NMS had increased by 3.1% per year on average; over the...

One year after the onset of the Arab Spring, the transition is clearly at its very beginning. In that, it does not compare with the onset of transition in Central, East and Southeast Europe (CESEE) in 1989 or 1990, which was a kind of breakthrough and provided a clear discontinuity with the past...

Economic outcomes before and after the break-up of Yugoslavia What are the costs of nationalistic policies? The expectations may be more optimistic than is warranted as the example of the breakup of Yugoslavia suggests. Assuming that nationalists expected that economic results would be better...

This policy note argues that the current global economic crisis enforces an adjustment process in the countries of Central, Eastern and Southeastern Europe (CEE and SEE) in the form of real exchange rate depreciation. Because of the weakness of financial institutions and built-up foreign...

The pressures on fiscal consolidation have mounted dramatically in the wake of the Greek and then the 'contagion' crisis which followed it (across the so-called 'weakest links' Portugal, Spain, Italy, Ireland). It led to the setting-up of the 750 billion euro stabilisation package widely seen as...

This piece argues that three specific policy issues need to be addressed urgently in Central, Eastern and Southeastern Europe in order to avoid a sustained period of recession or depression (i) orderly exchange rate adjustment (ii) fiscal stress and (iii) financial sector vulnerability. The G-20...

The main objectives of this study are the assessment of activation policies in the Western Balkan countries in the light of the EU policy frameworks and the capacity and effectiveness of the Public Employment Services (PES) to implement modern labour market services. The general strategy of the...

Summary German (PDF) Summary French (PDF) Summary Serbian (PDF) This report has also been published at the EU’s website http //ec.europa.eu Summary In the period after the political changes in the year 2000, GDP growth in Serbia was rather rapid and compares favourably with other transition...

Stability and normalization should be the crucial ingredients of Kosovo's future status. If achieved, it would lead to strong economic recovery in Kosovo and to more sustainable economic growth in Serbia. Chances for positive economic development, strong recovery and sustained long-term growth...