INTEGRATION, MACROECONOMIC DYNAMICS AND INSTITUTIONS IN CENTRAL AND EASTERN EUROPEAN COUNTRIES, 1995-2015
Autor (i): Ramona, Ţigănaşu Gabriela Carmen, Pascariu
JEL: F15, O11, O47
Cuvinte cheie: European Integration, Central and Eastern European Countries, convergence, institutions
Abstract:
Central and Eastern European Countries (CEECs) have undertaken wide-ranging processes of economic restructuring generated by the integration into the European Union, an overall nominal as well as a structural convergence having taken place, differentiated from one country to the other in terms of performance and potential for long-term growth and development. First, the paper provides an analysis of economic dynamics of the CEECs during 1995-2015 using both general macroeconomic indicators, such as GDP/capita, economic growth rate or productivity, and also indicators which reflect specific aspects of the integration of markets(FDI intensity, trade integration of goods). In the second part of the paper, the authors provide an interpretation of the role of the institutions in the dynamics of transformations ocurring in the CEECs and in supporting the process of convergence as result of integration into the EU system. The main conclusion reached by authors is that the institutions and the quality of governance system can sustain and amplify the tendencies towards convergence and compensate the tendencies towards divergence generated by the market, and undergoing economic cyclicals.
Central and Eastern European Countries (CEECs) have undertaken wide-ranging processes of economic restructuring generated by the integration into the European Union, an overall nominal as well as a structural convergence having taken place, differentiated from one country to the other in terms of performance and potential for long-term growth and development. First, the paper provides an analysis of economic dynamics of the CEECs during 1995-2015 using both general macroeconomic indicators, such as GDP/capita, economic growth rate or productivity, and also indicators which reflect specific aspects of the integration of markets(FDI intensity, trade integration of goods). In the second part of the paper, the authors provide an interpretation of the role of the institutions in the dynamics of transformations ocurring in the CEECs and in supporting the process of convergence as result of integration into the EU system. The main conclusion reached by authors is that the institutions and the quality of governance system can sustain and amplify the tendencies towards convergence and compensate the tendencies towards divergence generated by the market, and undergoing economic cyclicals.
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