Globalization and Catching-Up: From Recession to Growth in Transition Economies
June 1, 2000
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Summary
The transitional recession in countries of Eastern Europe and the Former Soviet Union has lasted much longer than expected. The legacy of the past and recent policy mistakes have both contributed to the slow progress. As structural reforms and gradual institution building have taken hold, the post-socialist economies have started to recover, with some leading countries building momentum toward faster growth. There is a possibility that in the wider context of globalization several of these emerging market economies will be able to catch up with the more advanced industrial economies in a matter of one or two generations.
Subject: Emerging and frontier financial markets, Financial markets, Globalization, Institutional arrangements for revenue administration, Labor, Macrostructural analysis, Revenue administration, Structural reforms
Keywords: Eastern Europe, Emerging and frontier financial markets, Global, global economy, Globalization, growth, institution-building, Institutional arrangements for revenue administration, market forces, planned economy, private sector, recession, socialist economy, Structural reforms, transition, transition countries index, transition country, transition economy, WP
Pages:
51
Volume:
2000
DOI:
Issue:
100
Series:
Working Paper No. 2000/100
Stock No:
WPIEA1002000
ISBN:
9781451852394
ISSN:
1018-5941
