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Aspects of structural adjustments in CEE countries during the economic crisis

Author

Listed:
  • Ionuț BUȘEGA

    (Bucharest University of Economic Studies, Romania)

  • Anca DACHIN

    (Bucharest University of Economic Studies, Romania)

Abstract

The Central and East European countries (CEEs) experienced institutional and structural reforms during their transition to the market economy and also, during their EU integration process later on. The 2000s trend of economic growth relied on economic structures not fully aligned to the western standards. In Romania, as well as in other CEE countries, the recent economic crisis hampered the economic growth and emphasized major vulnerabilities and thus, the need for further adjustments. The crisis impact has been interpreted as a contagion effect, but also as a shock causing corrections to the unhealthy sources of economic growth. This paper studies different aspects of structural adjustments of the UE10 countries for the period 2004-2010 using a composite index for the measure of institutional and structural reform results. The aim of our study is to identify the downgrading countries as a response to the crisis with a focus on Romania’s deviation from the EU10 trends and its economic policy implications.

Suggested Citation

  • Ionuț BUȘEGA & Anca DACHIN, 2015. "Aspects of structural adjustments in CEE countries during the economic crisis," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(Special(I), pages 75-84.
    • Handle: RePEc:agr:journl:v:xxii:y:2015:i:special(i):p:75-84
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