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Achieving Rapid Growth in the Transition Economies of Central Europe

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Author Info

  • Jeffrey Sachs
  • Andrew M. Warner

Abstract

This paper describes ways that the CEEs can speed their convergence with the EU by emulating the growth strategies of the very fast growing economies. In Section II, we introduce the VFGEs, and discuss some of the sources of their superior growth performance. In Section III, we demonstrate the role of key policy variables in the context of cross-country growth equations. In Section IV, we examine how the CEEs can emulate key aspects of the economic policies of the VFGEs, in order to raise their growth in the coming years.

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Bibliographic Info

Paper provided by CASE-Center for Social and Economic Research in its series CASE Network Studies and Analyses with number 0073.

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Length: 43 Pages
Date of creation: 1996
Date of revision:
Handle: RePEc:sec:cnstan:0073

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Related research

Keywords: economic transition; Central Eastern Europe; economic growth;

References

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  1. Dowrick, Steve & Nguyen, Duc-Tho, 1989. "OECD Comparative Economic Growth 1950-85: Catch-Up and Convergence," American Economic Review, American Economic Association, vol. 79(5), pages 1010-30, December.
  2. Sebastian Edwards, 1995. "Why are Saving Rates so Different Across Countries?: An International Comparative Analysis," NBER Working Papers 5097, National Bureau of Economic Research, Inc.
  3. Laurence J. Kotlikoff, 1995. "Privatization of Social Security: How it Works and Why it Matters," Boston University - Institute for Economic Development 66, Boston University, Institute for Economic Development.
  4. Sachs, J-D & Warner, A-M, 1995. "Natural Resource Abundance and Economic Growth," Papers 517a, Harvard - Institute for International Development.
  5. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," NBER Working Papers 3120, National Bureau of Economic Research, Inc.
  6. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 1-118.
  7. Young, Alwyn, 1995. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 641-80, August.
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Citations

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Cited by:
  1. de Melo, Martha & Denizer, Cevdet & Gelb, Alan & Tenev, Stoyan, 1997. "Circumstance and choice : the role of initial conditions and policies in transition economies," Policy Research Working Paper Series 1866, The World Bank.
  2. Dethier, Jean-Jacques & John, Christoph, 1998. "Taxing capital income in Hungary and the European Union," Policy Research Working Paper Series 1903, The World Bank.
  3. P.G. Hare, 1997. "Investment, Growth and Industrial Renewal in the Transition Economies," CERT Discussion Papers 9701, Centre for Economic Reform and Transformation, Heriot Watt University.
  4. Daniel Berkowitz & David N. DeJong, 1998. "Accounting for Growth in Post-Soviet Russia," William Davidson Institute Working Papers Series 127, William Davidson Institute at the University of Michigan.
  5. Hlavac, Marek, 2010. "Freedom as the key to prosperity: Lessons from the world's growth miracles and economic disasters," MPRA Paper 25563, University Library of Munich, Germany.
  6. Nauro F. Campos, 1999. "Back to the Future: The Growth Prospects of Transition Economies Reconsidered," CERGE-EI Working Papers wp146, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
  7. Siebert, Horst, 1997. "Reintegrating the Reform Countries Into the World Economy," 1997: Economic Transition in Central and East Europe, and the Former Soviet Union: Implications ... Symposium, June 12-14, 1997, Berlin, Germany 50832, International Agricultural Trade Research Consortium.
  8. János Gács, 2003. "Transition, EU Accession and Structural Convergence," Empirica, Springer, vol. 30(3), pages 271-303, September.
  9. Barbone, Luca & Zalduendo, Juan, 1997. "EU (European Union) accession of central and eastern Europe : bridging the income gap," Policy Research Working Paper Series 1721, The World Bank.
  10. Mihaly Simai, 2006. "Poverty and Inequality in Eastern Europe and the CIS Transition Economies," Working Papers 17, United Nations, Department of Economics and Social Affairs.
  11. Kokko, Ari, 2002. "Export-Led Growth in East Asia: Lessons for Europe's Transition Economies," EIJS Working Paper Series 142, The European Institute of Japanese Studies.
  12. French-German Economic Forum, 1999. "Reduction of Working Time," Working Papers 1999-13, CEPII research center.
  13. Hsiao, Frank S. T. & Hsiao, Mei-chu W. & Yamashita, Akio, 2003. "The impact of the US economy on the Asia-Pacific region: does it matter?," Journal of Asian Economics, Elsevier, vol. 14(2), pages 219-241, April.
  14. Siebert, Horst, 1997. "Reintegrating the reform countries into the world economy," Kiel Working Papers 829, Kiel Institute for the World Economy.
  15. Fakin, Barbara & de Crombrugghe, Alain, 1997. "Field adjustments in transition economies : social transfers and the efficiency of public spending - a comparison with OECD countries," Policy Research Working Paper Series 1803, The World Bank.
  16. Lawrence P. King, 2003. "Explaining Postcommunist Economic Performance," William Davidson Institute Working Papers Series 2003-559, William Davidson Institute at the University of Michigan.

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