Abstract
This chapter reviews the achievements of SEE countries during the past quarter century. The period is analysed in terms of three distinct phases — the first (and sometimes painful) one of dismantlement and rebuilding, the second being the reward of the promised prosperity and a boom that got out of control, and the third is the economic hangover following the global financial crisis and the (continuing) problems in the euro area. It shows that the region needs to rebalance its output and production toward a greater reliance on foreign demand, and on domestic sources of savings to finance investment. The persistently high rate of unemployment in SEE has also put the spotlight on the region’s slow progress on structural reform.
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© 2015 Adam Bennett, G. Russell Kincaid, Peter Sanfey, Max Watson
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Bennett, A., Kincaid, G.R., Sanfey, P., Watson, M. (2015). Overview of Macroeconomic Developments. In: Economic and Policy Foundations for Growth in South East Europe: Remaking the Balkan Economy. St Antony’s Series. Palgrave Pivot, London. https://doi.org/10.1057/9781137488343_2
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DOI: https://doi.org/10.1057/9781137488343_2
Publisher Name: Palgrave Pivot, London
Print ISBN: 978-1-137-48833-6
Online ISBN: 978-1-137-48834-3
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