The year 2000 was exceptionally good for the transition countries. The region as a whole expanded faster than the world economy average. However, the favourable external climate has started to deteriorate rapidly and especially the current pronounced weakening of the EU economy is worrying. The...

This paper uses the adaptive Lasso estimator to determine the variables important for economic growth. The adaptive Lasso estimator is a computationally very simple procedure that can perform at the same time model selection and consistent parameter estimation. The methodology is applied to...

After fifteen years of economic transformation, Moldova still remains a mostly agrarian country. The industrial sector is only successful in connection with agriculture (such as the production of food or beverages). The country's agrarian structure seems to be a legacy of Moldova's former role...

This paper provides an overview of longer-term structural developments in the new EU Member States from Central and Eastern Europe (NMS). It analyses structural changes in the NMS' economies and patterns of productivity catching-up both at macro level and within the individual industries. With...

Summary This paper analyses the speed and patterns of economic convergence in the new EU Member States of Central and Eastern Europe during transition and the first years of EU membership. After a brief discussion of measurement and data issues, the paper provides stylised facts on growth and...

Summary Despite near stagnation in the euro area and the negative impact of the Ukraine crisis, in most of the NMS economies and some of the Western Balkan countries growth prospects are viewed as positive. While the NMS economies will preserve their positive growth differential vis-à-vis the...

The report analyses recent economic developments and short- and medium-term development prospects, covering the countries of Central and Eastern Europe and Southeast Europe including Turkey, together with Russia, Ukraine, Kazakhstan and China. Separate chapters present an overview of...

After a period of exceptionally high growth in the whole region of Central, East and Southeast Europe in the past two years, there has been some slowdown in GDP growth. Nevertheless growth remains largely robust. In particular the new member states of the EU (NMS) appear to be largely decoupled...

Summary · Grouping the regions of the EU-15 and the new member states (NMS, including Bulgaria and Romania) into five clusters according to the relative importance of broad sectors of activity reveals marked differences in the regional economic structure and development. · In capital cities...

Under favourable external conditions, the economies of the New EU Member States (NMS) fared even better in the first quarter of 2006 than in 2005. Investment accelerated sharply and industry is proving buoyant. Labour productivity has registered strong gains, unit labour costs declined. This is...