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This paper analyzes the impact of the exchange rate regime on inflation and output in (South) Eastern and Central Europe. The panel estimations for the period between 1994 and 2004 show that de facto measures of exchange rate stability have a better explanatory power than the de jure measures in...
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The economic recovery in CESEE has strengthened further in recent months, resulting in a number of additional upgrades to our growth forecasts for 2021, to 5.4% on the regional average. This good performance has been built on two important foundation stones: the adaptation of the CESEE economies...
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Almost all non-EU CESEE countries have converged with Western Europe over the past three decades. However, the pace of … convergence has been mixed. For non-EU CESEE countries as a whole, convergence has generally developed at a slower pace than for … EU member states in the region.Econometrically, we find that the poorest countries tended to convergence more quickly …
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The paper discusses factors likely to shape the nature and pace of economic growth of five Central European transition countries now engaged in accession to the European Union. It is organized around the standard growth accounting framework. The paper reviews the growth of these countries since...
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