Europe
FASTER, HIGHER, STRONGER—RAISING THE GROWTH POTENTIAL OF CESEE
October 2013
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©2013 International Monetary Fund
The October 2013 Regional Economic Issues Report (REI) discusses the implications of the recent turmoil in Central, Eastern, and Southeastern Europe (CESEE)’s emerging markets.
What are the implications of the turmoil in emerging markets for Central, Eastern, and Southeastern Europe (CESEE)? Why have some countries been more affected than others? The October 2013 CESEE Regional Economic Issues (REI) assesses the macroeconomic outlook for the region in light of the latest global economic and financial developments. The REI also focuses on prospects for longer-term potential growth, and the policies and reforms that will be needed to boost growth and bring down on a sustained basis the relatively high rates of unemployment across much of the region.
| Contents | ||
| EXECUTIVE SUMMARY | ||
| I. Risks from Financial Market Turmoil | ||
| II. The Potential Output Slowdown | ||
| A. The Post-Crisis Decline | ||
| B. Potential Growth Prospects | ||
| III. The Rise in Unemployment | ||
| A. Post-Crisis Employment Losses | ||
| B. Is High Unemployment Structural? | ||
| IV. Low Growth: A Challenge for Fiscal Policy | ||
| V. Policies for Renewed Convergence | ||
| A. Addressing Crisis Legacies | ||
| B. Boosting the Tradable Sector | ||
| REFERENCES | ||
| Box 1. | Labor Market Challenges in the Western Balkans | |
| Box 2. | Structural Unemployment in Poland and the Baltics | |
| FIGURES | ||
| TABLES | ||
| ANNEX TABLES | ||
