This paper provides the quantitative estimate of the potential growth bonus for CIS countries, and in particular EU's Easter Neighbours, that can be a result of deeper institutional harmonisation with the EU. Econometric investigation involving instrumental variable, simultaneous equation and...

Taken together, Brazil, China, India, Indonesia and South Africa - the “BIICS” - have been an important engine for world growth, and they account for a growing share of global output. However, further reforms will be needed to ensure catch-up to OECD GDP per capita levels over the long term....