The aim of this study is to analyse the state of the competitiveness of seven Western Balkan economies and to suggest policy recommendations in order to increase their capacity to compete. Most countries from the Western Balkans have a persistent current account deficit of about 10% of GDP which...

Die meisten Westbalkanländer haben ein hohes und in der Regel persistentes Leistungsbilanzdefizit von annähernd 10% des BIP. Reduktionen des Leistungsbilanzdefizits der letzten Jahre sind vor allem auf krisenhafte Importzurückhaltung zurückzuführen. Das durchschnittliche Westbalkanland (im...

The Vienna Institute for International Economic Studies (wiiw) expects GDP in Central, East and Southeast Europe (CESEE) to pick up speed and grow on average by 2-3% over the forecast period 2014-2016 a major driving force rooted in an upward reversal of public and private investment. The...

The Vienna Institute for International Economic Studies (wiiw) expects GDP in Central, East and Southeast Europe (CESEE) to pick up speed and grow on average by 2-3% over the forecast period 2014-2016 a major driving force rooted in an upward reversal of public and private investment. The...

After a long period of convergence, Central, East and Southeast Europe experienced a deep recession in 2009. The relatively moderate GDP decline (-3.6%) on average for the new EU member states (NMS) reflects Poland's weight in the group, the only EU country to have recorded positive GDP growth...

External determinants Two key factors currently affect the economic prospects of CESEE the crisis in the euro area and movements in the commodity prices. For Russia, Kazakhstan and Ukraine declining world market prices of energy carriers, steel and other basic commodities are vital. For most of...

Summary The protracted recession in the euro area will continue to be a drag on the economic growth of most CESEE countries in 2013. By and large, those countries are small open economies held hostage to the excessive fiscal austerity pursued in the euro area and the sluggish progress on the...

The present economic crisis bears all the familiar hallmarks of the financial, debt-related and structural aspects of current account crises. All these aspects have lasting level effects and recovery can be very protracted. Export-led growth was an important feature of the recovery period...

Summary Continued weak external demand and uncertain recovery of investments will allow for only modest growth prospects for the countries of Central, East and Southeast Europe (CESEE) this year. Slovenia, Croatia and the Czech Republic will remain in recession. Russia, Ukraine and the Baltic...