Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/231396 
Year of Publication: 
2021
Series/Report no.: 
EIB Working Papers No. 2021/01
Publisher: 
European Investment Bank (EIB), Luxembourg
Abstract: 
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.
Subjects: 
climate change
convergence
economic policy
digitalisation
innovation
labourmarket
long-term growth
productivity
skills
JEL: 
J24
O14
O33
O40
P27
P28
Persistent Identifier of the first edition: 
ISBN: 
978-92-861-4936-8
Document Type: 
Working Paper

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