• Media type: E-Book; Report
  • Title: Towards a new growth model in CESEE: Convergence and competitiveness through smart, green and inclusive investment
  • Contributor: Gereben, Áron [Author]; Wruuck, Patricia [Author]
  • imprint: Luxembourg: European Investment Bank (EIB), 2021
  • Language: English
  • DOI: https://doi.org/10.2867/1421
  • ISBN: 978-92-861-4936-8
  • Keywords: O33 ; convergence ; productivity ; P28 ; long-term growth ; skills ; climate change ; O40 ; O14 ; economic policy ; P27 ; labourmarket ; J24 ; innovation ; digitalisation
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  • Description: This paper focuses on the growth and convergence of Central, Eastern and South-Eastern European EU countries (CESEE). We argue that the factors behind the pre-crisis growth model of the region - skilled yet affordable labour force, foreign direct investment, imports of productivity-enhancing technology - are petering out, and are yet to be substituted. We propose 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, we highlight the prerequisites of making this transition happen.
  • Access State: Open Access