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Title:Growing together: Croatia and Latvia PDF Logo
Authors:Gylfason, Thorvaldur
Hochreiter, Eduard
Issue Date:2010
Series/Report no.:CESifo working paper: Fiscal Policy, Macroeconomics and Growth 3202
Abstract:We compare and contrast the economic growth performance of Croatia and Latvia since the collapse of communism in 1991 in an attempt to understand better the extent to which the growth differential between the two countries can be traced to increased efficiency in the use of capital and other resources (intensive growth) as opposed to sheer accumulation of capital (extensive growth). On the basis of a simple growth accounting model, we infer that advances in education at all levels, good governance, and institutional reforms have played a significant role in raising economic output and efficiency in both Croatia and Latvia. The EU perspective made a more significant contribution to growth in Latvia than in Croatia, even if Latvia's immediate post-accession boom proved unsustainable.
Subjects:economic growth
governance
transition economies
JEL:O16
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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