Sluggish International Business Climate: A Test for the Central and Eastern European Countries' Endurance

The Central and Eastern European Countries (CEECs) were able to maintain in 2001 and 2002 a growth rate significantly above that of the EU 15. The more developed group of CEECs went more in parallel with the EU 15, which means that their average growth rate fell considerably. The other group of countries has not yet reached the pre-transition level. They were more independent from the international business cycle and maintained higher growth rates or even accelerated growth.