05319oam 22009974 450 991078823390332120230721045701.01-4623-4267-11-4527-0064-81-4518-7039-697866128413231-282-84132-7(CKB)3170000000055068(EBL)1607939(SSID)ssj0000944000(PQKBManifestationID)11573585(PQKBTitleCode)TC0000944000(PQKBWorkID)10982585(PQKB)11724075(OCoLC)762445730(MiAaPQ)EBC1607939(IMF)WPIEE2008181(EXLCZ)99317000000005506820020129d2008 uf 0engur|n|---|||||txtccrConvergence in Emerging Europe : Sustainability and Vulnerabilities /Athanasios VamvakidisWashington, D.C. :International Monetary Fund,2008.1 online resource (32 p.)IMF Working PapersIMF working paper ;WP/08/181Description based upon print version of record.1-4519-1492-X Includes bibliographical references.Contents; I. Introduction; II. Emerging Europe's Convergence; III. Estimates from a Production Function; IV. Determinants of Economic Growth; V. Potential Growth; VI. Current Account Balances During Regional Convergence; VII. External indebtedness; VIII. Conclusions and Policy Implications; Figures; 1. Convergence in Emerging Europe and in the Rest of the World, 2003-07; 2. Emerging Europe: Value Added by Sector, Contributions to Real GDP Growth, 2002-06; 3. Emerging Europe: Domestic and External Demand, Contributions to Real GDP Growth, 2002-06; 4. Emerging Europe: Growth Accounting, 2002-065. Stock of Private Sector Credit and Per Capita GDP, 2002-20066. Growth and Private Sector Credit Growth, 2002-06; 7. GDP per Capita and Current Account Balances, 2007; 8. Emerging Europe: Contributions to Current Account Deficit, 2003-07; 9. Emerging Europe: FDI Coverage of Current Account Deficit, 2003-07; 10. Emerging Europe: Percentage Change in Export Market Shares in the World Economy, 2003-07; 11. External Debt/GDP, Emerging Europe, 2007; 12. Short-term Debt (Remaining Maturity)/Foreign Reserves, 2007; Tables; 1. GDP Growth and Contributions, Emerging Europe, 2002-20062. Determinants of Growth in Emerging Europe, 2003-20073. Potential Growth Based on a Growth Model in Emerging Europe; 4. Potential Growth in Emerging Europe, Alternative Estimates; 5. Sustainability of Current Account Deficits Based on a Model of Regional Convergence, 2003-2007; 6. Responses of External Debt-to-GDP Ratio to Adverse Shocks, 2007-11; ReferencesThe emerging European economies have been converging rapidly towards the more advanced European economies in recent years. However, large external imbalances in parts of the region have raised questions about sustainability and concerns about vulnerabilities. Empirical evidence in this paper suggest that the convergence trend of emerging Europe is based on strong fundamentals and is expected to continue, but at a slower pace. Moreover, the convergence path may be volatile as countries with large external imbalances adjust, with risks of a hard landing in some cases.IMF Working Papers; Working Paper ;No. 2008/181Balance of paymentsEurope, EasternBalance of paymentsEurope, CentralConvergence (Economics)EuropeExports and ImportsimfMacroeconomicsimfCurrent Account AdjustmentimfShort-term Capital MovementsimfInstitutions and the MacroeconomyimfInternational Lending and Debt ProblemsimfInternational economicsimfCurrent account deficitsimfStructural reformsimfExternal debtimfCurrent account balanceimfCurrent account imbalancesimfBalance of paymentsimfDebts, ExternalimfEurope, EasternEconomic conditionsEurope, CentralEconomic conditionsBulgariaimfBalance of paymentsBalance of paymentsConvergence (Economics)Exports and ImportsMacroeconomicsCurrent Account AdjustmentShort-term Capital MovementsInstitutions and the MacroeconomyInternational Lending and Debt ProblemsInternational economicsCurrent account deficitsStructural reformsExternal debtCurrent account balanceCurrent account imbalancesBalance of paymentsDebts, External337.47Vamvakidis Athanasios1485176DcWaIMFBOOK9910788233903321Convergence in Emerging Europe3704168UNINA