Abstract
In the 1960s, the rate of economic growth was already higher, on average, in the East Asian countries (EACs) than in the Central-Eastern European (CEECs) members of former Comecon. Later on, the gap between the two areas grew. While economic growth was hardly affected by crisis in the EACs during the 1970s and 1980s, it slowed down in the CEECs, dramatically so in the 1980s. The break-up of the communist system first worsened this economic crisis in the latter region in the early 1990s and since then only a few former socialist countries have recovered a positive, though rather low, rate of economic growth: Poland, Romania, Slovenia, Hungary and the Czech Republic. On the other hand, after a period of slower economic growth in 1985–90, the newly industrialized countries (NICs) of East Asia enjoyed a nice recovery, with growth rates ranging between 5.5 and 9.9 per cent in 1993.
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Andreff, W. (1998). Industrial Transformation in East-Central Europe and East Asia: Should the State Wither Away?. In: Henderson, J. (eds) Industrial Transformation in Eastern Europe in the Light of the East Asian Experience. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-26520-6_3
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