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Achieving Rapid Growth in the Transition Economies of Central Europe

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  • Jeffrey Sachs
  • Andrew M. Warner

Abstract

This paper describes ways that the CEEs can speed their convergence with the EU by emulating the growth strategies of the very fast growing economies. In Section II, we introduce the VFGEs, and discuss some of the sources of their superior growth performance. In Section III, we demonstrate the role of key policy variables in the context of cross-country growth equations. In Section IV, we examine how the CEEs can emulate key aspects of the economic policies of the VFGEs, in order to raise their growth in the coming years.

Suggested Citation

  • Jeffrey Sachs & Andrew M. Warner, 1996. "Achieving Rapid Growth in the Transition Economies of Central Europe," CASE Network Studies and Analyses 0073, CASE-Center for Social and Economic Research.
    • Handle: RePEc:sec:cnstan:0073
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    References listed on IDEAS

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    2. Jeffrey D. Sachs & Andrew M. Warner, 1995. "Natural Resource Abundance and Economic Growth," NBER Working Papers 5398, National Bureau of Economic Research, Inc.
    3. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(2), pages 407-443.
    4. World Bank, 1995. "World Development Report 1995," World Bank Publications - Books, The World Bank Group, number 5978.
    5. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 1-118.
    6. Sebastian Edwards, 1995. "Why are Saving Rates so Different Across Countries?: An International Comparative Analysis," NBER Working Papers 5097, National Bureau of Economic Research, Inc.
    7. World Bank, 1994. "World Development Report 1994," World Bank Publications - Books, The World Bank Group, number 5977.
    8. Alwyn Young, 1995. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(3), pages 641-680.
    9. Dowrick, Steve & Nguyen, Duc-Tho, 1989. "OECD Comparative Economic Growth 1950-85: Catch-Up and Convergence," American Economic Review, American Economic Association, vol. 79(5), pages 1010-1030, December.
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