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Introduction: The Journey Begins

In: Trade, Development and Structural Change

Author

Listed:
  • Anca M. Voicu

    (Rollins College)

  • Somnath Sen

    (The University of Birmingham)

  • Inmaculada Martinez-Zarzoso

    (University of Göttingen
    Institute of International Economics University Jaume I)

Abstract

This chapter discusses briefly the transition journey that Central and Eastern European Countries (CEECs) have travelled in the last two to three decades. It mentions the faltering early years, the sunk costs of transition, the transformation into maturing upper-income countries, the expansion of trade as well as the process of integration with the European Union, which acts as a core catalyst in growth acceleration. It highlights the importance of trade in general and its importance for the CEECs in particular. We explain the advantages of specialization and trade. We also present the challenges that trade faces in the context of globalization.

Suggested Citation

  • Anca M. Voicu & Somnath Sen & Inmaculada Martinez-Zarzoso, 2018. "Introduction: The Journey Begins," Studies in Economic Transition, in: Trade, Development and Structural Change, chapter 1, pages 1-14, Palgrave Macmillan.
    • Handle: RePEc:pal:stuchp:978-1-349-59005-6_1
    DOI: 10.1057/978-1-349-59005-6_1
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