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How far is Eastern Europe from Brussels?

Author

Listed:
  • Fischer, Stanley
  • Sahay, Ratna
  • Vegh, Carlos

Abstract

The current destination of Central and Eastern European countries -- explicitly for some, implicitly for all -- is Brussels. One simple measure, not without theoretical justification, is physical distance. This paper's focus, however, lies more in the distance in time and economic space. The paper fist compares income gaps between Central and Eastern Europe and European Union (EU) countries, then evaluates recent economic performance in Central and Eastern Europe in light of EU standards. Finally, it addresses the question of how long it will take the Central and Eastern European Countries to close the income gap with EU countries.

Suggested Citation

  • Fischer, Stanley & Sahay, Ratna & Vegh, Carlos, 1998. "How far is Eastern Europe from Brussels?," MPRA Paper 20059, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:20059
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    File URL: https://mpra.ub.uni-muenchen.de/20059/1/MPRA_paper_20059.pdf
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    References listed on IDEAS

    as
    1. Jeffrey M. Davis & A. Cheasty, 1996. "Fiscal Transition in Countries of the Former Soviet Union; An Interim Assessment," IMF Working Papers 96/61, International Monetary Fund.
    2. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 407-443.
    3. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
    4. Easterly, William & Fischer, Stanley & DEC, 1994. "The Soviet economic decline : historical and republican data," Policy Research Working Paper Series 1284, The World Bank.
    5. Fischer, Stanley, 1993. "The role of macroeconomic factors in growth," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 485-512, December.
    6. Peter Murrell, 1996. "How Far Has the Transition Progressed?," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 25-44, Spring.
    7. Robert J. Barro & Xavier Sala-i-Martin, 1991. "Convergence across States and Regions," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 22(1), pages 107-182.
    8. International Monetary Fund, 1996. "Do Government Wage Cuts Close Budget Deficits? a Conceptual Framework for Developing Countries and Transition Economies," IMF Working Papers 96/19, International Monetary Fund.
    9. de Melo, Martha & Denizer, Cevdet & Gelb, Alan, 1996. "From plan to market : patterns of transition," Policy Research Working Paper Series 1564, The World Bank.
    10. Fischer, Stanley & Sahay, Ratna & Vegh, Carlos A, 1996. "Economies in Transition: The Beginnings of Growth," American Economic Review, American Economic Association, vol. 86(2), pages 229-233, May.
    11. Barro, Robert J & Sala-i-Martin, Xavier, 1992. "Convergence," Journal of Political Economy, University of Chicago Press, vol. 100(2), pages 223-251, April.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    transition; convergence;

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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