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The Fall of the “Iron Curtain”: Can the Central and East European Countries (CEECs) Face the Challenge of Trade-Restructuring and Integration?

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

Overall, the gravity trade results above show that the CEECs had higher potential than actual in terms of trade with the developed economies of the European Union. They were not fulfilling their potential with developed Western Europe in the first phase of transition. As we shall see in later chapters, the position gets reversed by the end of transition and trade with the European Union becomes the engine of growth. The CEECs overfulfil their potential with actual trade racing ahead of what they could conceive of in the early 1990s.

Suggested Citation

  • Anca M. Voicu & Somnath Sen & Inmaculada Martinez-Zarzoso, 2018. "The Fall of the “Iron Curtain”: Can the Central and East European Countries (CEECs) Face the Challenge of Trade-Restructuring and Integration?," Studies in Economic Transition, in: Trade, Development and Structural Change, chapter 3, pages 43-65, Palgrave Macmillan.
    • Handle: RePEc:pal:stuchp:978-1-349-59005-6_3
    DOI: 10.1057/978-1-349-59005-6_3
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