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Growth Dynamics in Transition Economies: The Role of Financial Development

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Economic Opening Up and Growth in Russia

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Abstract

Since the collapse of the communist system in 1989, the countries in Central and Eastern Europe (CEE) as well as the former Soviet Union experienced drastic macroeconomic changes. Figure 1 illustrates the growth rates of real GDP per capita for individual country groups from 1989 until 2000. The graphic shows similar u-shaped growth dynamics of each group. At the beginning of transition, all economies underwent a decline in their growth rates that was pronounced but different in intensity. The countries were able, each after a different time span, to overcome the reduction and to achieve positive growth.

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Authors
  1. Markus Neimke
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Editors and Affiliations

  1. Troika Dialog, 4 Romanov pereulok, 125009, Moscow, Russia

    Evgeny Gavrilenkov

  2. University of Wuppertal, Gaußstr. 20, 42119, Wuppertal, Germany

    Paul J. J. Welfens (Jean-Monnet-Professor for European Economic Integration President of EIIW) (Jean-Monnet-Professor for European Economic Integration President of EIIW)

  3. European Institute for International Economic Relations (EIIW), Potsdam University, August-Bebel-Str. 89, 14482, Potsdam, Germany

    Ralf Wiegert

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Neimke, M. (2004). Growth Dynamics in Transition Economies: The Role of Financial Development. In: Gavrilenkov, E., Welfens, P.J.J., Wiegert, R. (eds) Economic Opening Up and Growth in Russia. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-24729-6_4

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  • DOI: https://doi.org/10.1007/978-3-540-24729-6_4

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-642-05803-5

  • Online ISBN: 978-3-540-24729-6

  • eBook Packages: Springer Book Archive

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