Real Convergence in Central, Eastern and South-Eastern Europe

1. Front Matter

   Pages i-xvi

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2. Introduction

   • Reiner Martin, Adalbert Winkler

   Pages 1-10

3. Real Convergence in Central, Eastern and South-Eastern Europe: A Central Banker’s View

   • Lorenzo Bini Smaghi

   Pages 11-20

4. Fast, but Sustainable? Challenges and Policy Options for the Catching-up Process of Central and Eastern European Countries

   • Jürgen Stark

   Pages 21-26

5. Real Convergence in Central, Eastern and South-Eastern Europe: A Production Function Approach

   • Magdalena Morgese Borys, Éva Katalin Polgár, Andrei Zlate

   Pages 27-64

6. The Link between Real and Nominal Convergence: The Case of the New EU Member States

   • Sarah Lein, Miguel Leon-Ledesma, Carolin Nerlich

   Pages 65-97

7. Growth and Economic Policy: Are There Speed Limits to Real Convergence?

   • István P. Székely, Max Watson

   Pages 98-123

8. The Impact of Real Convergence on Migration and Labour Markets

   • Herbert Brücker

   Pages 124-165

9. Real Convergence and the Balance of Payments

   • Angana Banerji, Juha Kähkönen

   Pages 166-197

10. Back Matter

    Pages 199-205

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This book brings together policymakers, high-level practitioners, academics, and experts from central banks and international institutions in order to review key policy challenges for convergence in the region of central, eastern and south-eastern Europe. Contributions focus especially on inflation, growth, migration and the balance of payments.

• Eastern Europe
• economic policy
• growth
• labor market
• migration

ANGANA BANERJI International Monetary Fund LORENZO BINI SMAGHI Member, Executive Board, ECB HERBERT BRÜCKER Professor of Economics, University of Bamberg; Head, Department for International Comparisons and European Integration at the Institute for Employment Research (IAB), Nuremberg, Germany JUHA KÄHKÖNEN Senior Advisor, European Department, International Monetary Fund SARAH LEIN Research and Teaching assistant, Chair of Applied Macroeconomics, ETH Zurich, Switzerland MIGUEL LEON-LEDESMA Reader in Economics, Department of Economics, University of Kent, UK MAGDALENA MORGESE BORYS Adjunct Professor, American University of Rome, Italy CAROLIN NERLICH Senior Economist, Directorate General Economics, ECB ÉVA KATALIN POLGÁR Directorate General International and European Relations, ECB JÜRGEN STARK Honorary Professor, University of Tübingen; Member, Executive Board, ECB ISTVÁN P. SZÉKELY Director, Economic Studies and Research, Directorate General for Economic and Financial Affairs of the European Commission MAX WATSON Fellow, Wolfson College, Oxford, UK; Associate Fellow, Chatham House (Royal Institute of International Affairs), UK ANDREI ZLATE Boston College, USA

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