Table of Contents

The Challenge of Economic Rebalancing in Europe

The Challenge of Economic Rebalancing in Europe

Perspectives for CESEE Countries

Edited by Ewald Nowotny, Doris Ritzberger-Grünwald and Helene Schuberth

In the long aftermath of the acute global financial crisis of 2008/09, “rebalancing” the economy with new sources of growth and productivity remains a persistent necessity. This book addresses the resulting trade-offs and challenges. These needs, and the corresponding policy challenges, are especially prevalent in Europe, in particular Central, Eastern and South-Eastern Europe. On this issue, this book contributes lessons learned from earlier balance sheet recessions. It also addresses the often overlooked link between macroeconomic imbalances and economic inequality. Further contributions focus on the interaction between monetary policy and financial stability, adding a regional perspective to these important issues.

Chapter 3: Mid-term growth perspectives for CESEE

Marek Belka

Subjects: economics and finance, financial economics and regulation, international economics, money and banking

Extract

The objective of this chapter is to discuss medium-run growth perspectives in Central, Eastern and South-Eastern European (CESEE) countries, as assessed in November 2014. The discussion will focus on Poland but many of the insights I would like to offer have a much broader scope of applicability.

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