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Economic relations between Russia and the Central European countries

Author

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  • Kalman Dezseri

    (Institute of World Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences)

Abstract

Geographical proximity in the relations between Russia and the Central and Eastern European (CEE) countries means that any economic or financial crisis in Russia has had almost immediate effects on the CEE countries during the last decade. These appeared mainly in the CEE countries’ export performance, very strongly in some countries. Although reliance on Russia as a supplier has lessened considerably since the transition in Central and Eastern Europe began, Russia is still the main market for some important exports. When the Russian market ceased to decline steeply during 1993 and 1994, it brought to a premature halt the process of company restructuring in several CEE countries, especially the Baltic states and countries in the Balkans. Many companies initially forced by the collapse of COMECON to improve the quality of their products and seek other markets returned to an easier and more familiar market. The main question for the future is whether CEE companies follow a promising scenario, in which they have the determination, the capital, and the market access to follow up their new leads, or whether, in a bad scenario, they simply wait for the Russian economy to revive.

Suggested Citation

  • Kalman Dezseri, 2000. "Economic relations between Russia and the Central European countries," IWE Working Papers 111, Institute for World Economics - Centre for Economic and Regional Studies- Hungarian Academy of Sciences.
  • Handle: RePEc:iwe:workpr:111
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    References listed on IDEAS

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