The aim of this paper is to analyze the transition results in the countries of the last wave of accession to the European Union. After they joined the EU, the average productivity growth dropped in the first year, but later this was overcome. While the rate of GDP growth rose in most NMS...

Financial globalisation has been associated with divergent current account patterns in emerging market economies. While countries in emerging Asia have been running sizeable current account surpluses, countries in emerging Europe have been facing large current account deficits. In this paper we...

Global financial integration has been associated with divergent patterns of real convergence and the current account in emerging markets. While countries in emerging Asia have been running sizeable current account surpluses, countries in emerging Europe have been facing large current account...