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Growth Resurgence, Productivity Catching-up and Labour Demand in CEECs

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Author Info

  • Peter Havlik

    ()
    (The Vienna Institute for International Economic Studies, wiiw)

  • Sebastian Leitner

    ()
    (The Vienna Institute for International Economic Studies, wiiw)

  • Robert Stehrer

    ()
    (The Vienna Institute for International Economic Studies, wiiw)

Abstract

The collapse of communist regimes in Central and Eastern Europe marked a historical event for the countries on both sides of the iron curtain. Using the recently released EU KLEMS database on detailed sectoral growth and employment measures, we analyse the productivity performance in the period after 1995 for five transition economies, i.e. the Czech Republic, Hungary, Poland, the Slovak Republic and Slovenia, and compare their performance with a group of European core economies and partly Austria as a neighbouring small open economy. Our analysis reveals a strong catching-up process with the Western European economies in terms of productivity and sectoral structures. The factors driving this convergence process, however, differ across countries and industries. Apart from an analysis at the aggregate or broad sectoral performance we devote special emphasis to the detailed industry level and in particular to the manufacturing industry, which has served as the main driver in growth and productivity. We demonstrate that the Central and Eastern European countries have successfully specialized in higher-tech industries while maintaining gaps, albeit diminishing, in services. As the strong productivity catching-up was accompanied by low employment growth in the period 1995-2004 - despite high unemployment levels - we also investigate the labour market structures and the changes in patterns of employment.

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Bibliographic Info

Paper provided by The Vienna Institute for International Economic Studies, wiiw in its series wiiw Statistical Reports with number 3.

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Length: 71 pages including 29 Tables and 24 Figures
Date of creation: Jan 2008
Date of revision:
Publication status: Published as wiiw Statistical Report
Handle: RePEc:wii:spaper:statr:3

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Keywords: economic transition; restructuring; growth; multifactor productivity; labour demand;

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References

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  1. Eugene A. Kroch & Kriss Sjoblom, 1994. "Schooling as Human Capital or a Signal: Some Evidence," Journal of Human Resources, University of Wisconsin Press, vol. 29(1), pages 156-180.
  2. Foster, Neil & Stehrer, Robert, 2007. "Modeling transformation in CEECs using smooth transitions," Journal of Comparative Economics, Elsevier, vol. 35(1), pages 57-86, March.
  3. Vasily Astrov & Zlatko Bosnic & Vladimir Gligorov & Peter Havlik & Mario Holzner & Gabor Hunya & Michael Landesmann & Zdenek Lukas & Anton Mihailov & Leon Podkaminer & Sandor Richter & Waltraut Urban , 2007. "High Growth Continues, with Risks of Overheating on the Horizon," wiiw Research Reports 341, The Vienna Institute for International Economic Studies, wiiw.
  4. Arrow, Kenneth J., 1973. "Higher education as a filter," Journal of Public Economics, Elsevier, vol. 2(3), pages 193-216, July.
  5. Baumol, William J, 1972. "Macroeconomics of Unbalanced Growth: Reply," American Economic Review, American Economic Association, vol. 62(1), pages 150, March.
  6. Peter Havlik, 2005. "Unit Labour Costs in the New EU Member States," wiiw Statistical Reports 1, The Vienna Institute for International Economic Studies, wiiw.
  7. Vasily Astrov & Zlatko Bosnic & Vladimir Gligorov & Peter Havlik & Mario Holzner & Gabor Hunya & Michael Landesmann & Zdenek Lukas & Anton Mihailov & Leon Podkaminer & Sandor Richter & Waltraut Urban , 2007. "Private Consumption and Flourishing Exports Keep the Region on High Growth Track," wiiw Research Reports 335, The Vienna Institute for International Economic Studies, wiiw.
  8. Peter Havlik, 2005. "Central and East European Industry in an Enlarged European Union: Restructuring, Specialisation and Catching-up," Economie Internationale, CEPII research center, issue 102, pages 107-132.
  9. Spence, A Michael, 1973. "Job Market Signaling," The Quarterly Journal of Economics, MIT Press, vol. 87(3), pages 355-74, August.
  10. Marcel P. Timmer & Mary O’Mahony & Bart van Ark, 2007. "EU KLEMS Growth and Productivity Accounts: An Overview," International Productivity Monitor, Centre for the Study of Living Standards, vol. 14, pages 71-85, Spring.
  11. Michael Landesmann & Hermine Vidovic & Terry Ward, 2004. "Economic Restructuring and Labour Market Developments in the New EU Member States," wiiw Research Reports 312, The Vienna Institute for International Economic Studies, wiiw.
  12. Diewert, W. E., 1976. "Exact and superlative index numbers," Journal of Econometrics, Elsevier, vol. 4(2), pages 115-145, May.
  13. Robert Stehrer, 2005. "Employment, Education and Occupation Structures: A Framework for Forecasting," wiiw Research Reports 315, The Vienna Institute for International Economic Studies, wiiw.
  14. Michael A. Landesmann & Robert Stehrer, 2002. "Evolving Competitiveness of CEEC’s in an Enlarged Europe," Rivista di Politica Economica, SIPI Spa, vol. 92(1), pages 23-88, January-F.
  15. Michael Landesmann & Hermine Vidovic, 2006. "Employment Developments in Central and Eastern Europe," wiiw Research Reports 332, The Vienna Institute for International Economic Studies, wiiw.
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Citations

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Cited by:
  1. Peter Havlik, 2014. "Structural Change in Europe During the Crisis," FIW Policy Brief series 022, FIW.
  2. Metka Stare & Andreja Jaklič, 2011. "Towards Explaining Growth of Private and Public services in the Emerging Market Economies," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 13(30), pages 581-598, June.
  3. Timmer , Marcel P. & Voskoboynikov , Ilya B., 2013. "Is mining fuelling long-run growth in Russia? Industry productivity growth trends since 1995," BOFIT Discussion Papers 19/2013, Bank of Finland, Institute for Economies in Transition.

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