Globalization and Catching-Up: From Recession to Growth in Transition Economies

45 Pages Posted: 9 Nov 2000

Date Written: June 2000

Abstract

The transitional recession in Eastern Europe and the former Soviet Union has lasted much longer than expected. It has been the result of both the legacy of the past and policy mistakes. Due to structural reforms and gradual institution-building, the postsocialist economies have started to recover, and some leading countries have been able to build up a certain amount of momentum towards fast growth. There is a possibility that, within the wider context of globalization, several of these emerging market economies will be able in a matter of one or two generations to catch up with the more advanced industrial countries.

Keywords: Globalization, transition, institution-building, recession, growth

JEL Classification: E37, F43, N10, O47, P24, P27

Suggested Citation

Kolodko, Grzegorz W., Globalization and Catching-Up: From Recession to Growth in Transition Economies (June 2000). IMF Working Paper No. 00/100, Available at SSRN: https://ssrn.com/abstract=248423 or http://dx.doi.org/10.2139/ssrn.248423

Grzegorz W. Kolodko (Contact Author)

Kozminski University ( email )

Jagiellonska 59
Warszawa, --- Select One --- 03301
Poland

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