The Economies of South Eastern Europe

This book provides a comprehensive analysis of the main factors that affected the course of the countries of South-Eastern Europe during transition, contributing, as a result, to their disappointing economic performance. Thus, the role of initial conditions and issues concerning the effectiveness of macroeconomic stabilization and structural reforms are at the centre of the analysis. Furthermore, this volume focuses on developments and issues concerning international trade patterns, foreign direct investment and the impact of the Euro on the exchange rate policies of the countries in the region.

Introduction PART I: THE TRANSITION EXPERIENCE OF THE SOUTHEAST EUROPEAN COUNTRIES The Stylized Facts of Transition in Southeastern Europe The Impact of Initial Conditions Macroeconomic Stabilization and Performance I: The Period Prior to the Kosovo War Macroeconomic Stabilization and Performance II: The Period After the Kosovo War Structural Reform An Empirical Assessment of the Growth Determinants in Southeastern Europe PART II: EXTERNAL ECONOMIC RELATIONS Trade Integration Foreign Direct Investment in Southeastern Europe The Euro and the Exchange Rate Regimes of the Southeast European Countries