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Achieving Rapid Growth in the Transition Economies of Central Europe

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  • Jeffrey Sachs
  • Andrew M. Warner

Abstract

This paper describes ways that the CEEs can speed their convergence with the EU by emulating the growth strategies of the very fast growing economies. In Section II, we introduce the VFGEs, and discuss some of the sources of their superior growth performance. In Section III, we demonstrate the role of key policy variables in the context of cross-country growth equations. In Section IV, we examine how the CEEs can emulate key aspects of the economic policies of the VFGEs, in order to raise their growth in the coming years.

Suggested Citation

  • Jeffrey Sachs & Andrew M. Warner, 1996. "Achieving Rapid Growth in the Transition Economies of Central Europe," CASE Network Studies and Analyses 0073, CASE-Center for Social and Economic Research.
  • Handle: RePEc:sec:cnstan:0073
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    References listed on IDEAS

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    1. Laurence J. Kotlikoff, 1996. "Privatization of Social Security: How It Works and Why It Matters," NBER Chapters,in: Tax Policy and the Economy, Volume 10, pages 1-32 National Bureau of Economic Research, Inc.
    2. Jeffrey D. Sachs & Andrew M. Warner, 1995. "Natural Resource Abundance and Economic Growth," NBER Working Papers 5398, National Bureau of Economic Research, Inc.
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    5. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 1-118.
    6. Alwyn Young, 1995. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," The Quarterly Journal of Economics, Oxford University Press, vol. 110(3), pages 641-680.
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    Citations

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    Cited by:

    1. de Melo, Martha & Denizer, Cevdet & Gelb, Alan & Tenev, Stoyan, 1997. "Circumstance and choice : the role of initial conditions and policies in transition economies," Policy Research Working Paper Series 1866, The World Bank.
    2. Kokko, Ari, 2002. "Export-Led Growth in East Asia: Lessons for Europe's Transition Economies," EIJS Working Paper Series 142, Stockholm School of Economics, The European Institute of Japanese Studies.
    3. Berkowitz, Daniel & DeJong, David N., 2002. "Accounting for growth in post-Soviet Russia," Regional Science and Urban Economics, Elsevier, vol. 32(2), pages 221-239, March.
    4. Dethier, Jean-Jacques & John, Christoph, 1998. "Taxing capital income in Hungary and the European Union," Policy Research Working Paper Series 1903, The World Bank.
    5. Anders åslund, 2012. "Is the catching- up process in Central and Eastern Europe sustainable?," Chapters,in: European Integration in a Global Economy, chapter 13, pages 129-146 Edward Elgar Publishing.
    6. Hsiao, Frank S. T. & Hsiao, Mei-chu W. & Yamashita, Akio, 2003. "The impact of the US economy on the Asia-Pacific region: does it matter?," Journal of Asian Economics, Elsevier, vol. 14(2), pages 219-241, April.
    7. Campos, Nauro F., 2001. "Will the Future Be Better Tomorrow? The Growth Prospects of Transition Economies Revisited," Journal of Comparative Economics, Elsevier, vol. 29(4), pages 663-676, December.
    8. Hlavac, Marek, 2010. "Freedom as the key to prosperity: Lessons from the world's growth miracles and economic disasters," MPRA Paper 25563, University Library of Munich, Germany.
    9. János Gács, 2003. "Transition, EU Accession and Structural Convergence," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 30(3), pages 271-303, September.
    10. Nauro F. Campos, 1999. "Back to the Future: The Growth Prospects of Transition Economies Reconsidered," CERGE-EI Working Papers wp146, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    11. French-German Economic Forum, 1999. "Reduction of Working Time," Working Papers 1999-13, CEPII research center.
    12. Siebert, Horst, 1997. "Reintegrating the reform countries into the world economy," Kiel Working Papers 829, Kiel Institute for the World Economy (IfW).
    13. David L. Ellison, 2005. "Competitiveness strategies, resource struggles and national interest in the new Europe," IWE Working Papers 159, Institute for World Economics - Centre for Economic and Regional Studies- Hungarian Academy of Sciences.
    14. Ulrich Thießen, 1997. "Schattenwirtschaft in Osteuropa: das Beispiel der Ukraine," DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 64(18), pages 334-340.
    15. Fakin, Barbara & de Crombrugghe, Alain, 1997. "Field adjustments in transition economies : social transfers and the efficiency of public spending - a comparison with OECD countries," Policy Research Working Paper Series 1803, The World Bank.
    16. Ulrich Thießen, 1997. "Zur Reform des Steuersystems, der Sozialabgaben und der Staatsausgaben in Osteuropa: das Beispiel der Ukraine," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 66(3/4), pages 395-411.
    17. Mihaly Simai, 2006. "Poverty and Inequality in Eastern Europe and the CIS Transition Economies," Working Papers 17, United Nations, Department of Economics and Social Affairs.
    18. Barbone, Luca & Zalduendo, Juan, 1997. "EU (European Union) accession of central and eastern Europe : bridging the income gap," Policy Research Working Paper Series 1721, The World Bank.
    19. P.G. Hare, 1997. "Investment, Growth and Industrial Renewal in the Transition Economies," CERT Discussion Papers 9701, Centre for Economic Reform and Transformation, Heriot Watt University.
    20. Lawrence P. King, 2003. "Explaining Postcommunist Economic Performance," William Davidson Institute Working Papers Series 2003-559, William Davidson Institute at the University of Michigan.

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