Eastern Europe: Recession Bottoming Out
In the advanced reform countries, the expansion of the private sector and of foreign trade – visible results of the transformation – contribute to stabilisation, whereas in the other Eastern European countries, particularly in Russia and Ukraine, stagnation of reforms and growing disintegration deepen the crisis. In 1992 price increases decelerated in East-Central Europe, except Croatia, Russia and Ukraine, who are facing hyperinflation. Largely as a result of the CSFR split, but also due to recession in the West, a real decline of GDP of up to 2 percent must be assumed for East-Central Europe in 1993; but Poland and Hungary may by now have overcome the trough of the crisis. South-East Europe, however, is likely to see a further GDP decline by 5 percent in 1993, Russia and Ukraine may face a slump of up to 15 percent, respectively. Following the implementation of bankruptcy laws and due to reduced financial leeway, a significant rise of unemployment must be expected for the whole region.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 66 (1993)
Issue (Month): 5 (May)
|Contact details of provider:|| Postal: |
Phone: (+43 1) 798 26 01-0
Fax: (+43 1) 798 93 86
Web page: http://www.wifo.ac.at/
More information through EDIRC
|Order Information:|| Postal: Austrian Institute of Economic Research Publikationsverkauf und Abonnentenbetreuung Arsenal, Objekt 20 A-1030 Vienna/Austria|
When requesting a correction, please mention this item's handle: RePEc:wfo:monber:y:1993:i:5:p:254-270. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ilse Schulz)
If references are entirely missing, you can add them using this form.