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Journal articles (2002), Comparative Economic Studies, pp. 119-136

Globalization and Development: New Evidence from Central and Eastern Europe

CERNAT L., VRANCEANU Radu

To various degress, Central and Eastern European countries increased their participation to world economy over the last years. In particular, they accepted the challenge of trade openness and attracted significant foreign direct investment. This paper assesses the impact of these major changes on output growth in this region. Results of a panel data analysis suggest that increased EU integration and openness as well as reduced import duties were favourable to development. There is also evidence that increased FDI inflows may be associated with better outpup performances.

CERNAT, L. and VRANCEANU, R. (2002). Globalization and Development: New Evidence from Central and Eastern Europe. Comparative Economic Studies, pp. 119-136.