The EU member states in CESEE have converged relatively rapidly to the global frontier, some even during the recent crisis. Some, but not all, are well positioned to enjoy continued convergence. Nevertheless, convergence bottlenecks are emerging and continued reforms efforts will be needed...

This study envisages analyzing the convergence criteria in the context of recent macroeconomic developments, focusing on their sustainability. In order to highlight the sustainability of convergence indicators, the paper includes an analysis of the initial dynamics, both in terms of nominal and...