Gereben, Áron
[Author]
;
Wruuck, Patricia
[Other];
European Investment Bank
[Editor]
EIB Working Paper 2021/01 - Towards a new growth model in CESEE
: Convergence and competitiveness through smart, green and inclusive investment (Volume 2021/01)
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Media type:
E-Book
Title:
EIB Working Paper 2021/01 - Towards a new growth model in CESEE
:
Convergence and competitiveness through smart, green and inclusive investment (Volume 2021/01)
Description:
The factors behind the pre-crisis growth model of the Central, Eastern and South-Eastern European EU countries (CESEE) region – skilled yet affordable labour force, foreign direct investment, imports of productivity-enhancing technology – are having less effect, but are yet to be substituted. This paper proposes a new growth model centred around a shift towards more home-grown innovation, digitalisation, climate change mitigation and a strong focus on skills, labour and social inclusion, to leave the middle-income trap behind for good and to boost economies’ growth prospects in a post-COVID world. Based on analysis of firm-level data, it highlights the prerequisites of making this transition happen