LEADER 05339oam 22010094 450 001 9910820683903321 005 20240402050352.0 010 $a1-4623-4267-1 010 $a1-4527-0064-8 010 $a1-4518-7039-6 010 $a9786612841323 010 $a1-282-84132-7 035 $a(CKB)3170000000055068 035 $a(EBL)1607939 035 $a(SSID)ssj0000944000 035 $a(PQKBManifestationID)11573585 035 $a(PQKBTitleCode)TC0000944000 035 $a(PQKBWorkID)10982585 035 $a(PQKB)11724075 035 $a(OCoLC)762445730 035 $a(MiAaPQ)EBC1607939 035 $a(IMF)WPIEE2008181 035 $a(EXLCZ)993170000000055068 100 $a20020129d2008 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aConvergence in Emerging Europe : $eSustainability and Vulnerabilities /$fAthanasios Vamvakidis 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2008. 215 $a1 online resource (32 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/181 300 $aDescription based upon print version of record. 311 $a1-4519-1492-X 320 $aIncludes bibliographical references. 327 $aContents; 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, 2002-06 327 $a5. 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, 2002-2006 327 $a2. 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; References 330 3 $aThe emerging European economies have been converging rapidly towards the more advanced European economies in recent years. However, large external imbalances in parts of the region have raised questions about sustainability and concerns about vulnerabilities. Empirical evidence in this paper suggest that the convergence trend of emerging Europe is based on strong fundamentals and is expected to continue, but at a slower pace. Moreover, the convergence path may be volatile as countries with large external imbalances adjust, with risks of a hard landing in some cases. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2008/181 606 $aBalance of payments$zEurope, Eastern 606 $aBalance of payments$zEurope, Central 606 $aConvergence (Economics)$zEurope 606 $aExports and Imports$2imf 606 $aMacroeconomics$2imf 606 $aCurrent Account Adjustment$2imf 606 $aShort-term Capital Movements$2imf 606 $aInstitutions and the Macroeconomy$2imf 606 $aInternational Lending and Debt Problems$2imf 606 $aInternational economics$2imf 606 $aCurrent account deficits$2imf 606 $aStructural reforms$2imf 606 $aExternal debt$2imf 606 $aCurrent account balance$2imf 606 $aCurrent account imbalances$2imf 606 $aBalance of payments$2imf 606 $aDebts, External$2imf 607 $aEurope, Eastern$xEconomic conditions 607 $aEurope, Central$xEconomic conditions 607 $aBulgaria$2imf 615 0$aBalance of payments 615 0$aBalance of payments 615 0$aConvergence (Economics) 615 7$aExports and Imports 615 7$aMacroeconomics 615 7$aCurrent Account Adjustment 615 7$aShort-term Capital Movements 615 7$aInstitutions and the Macroeconomy 615 7$aInternational Lending and Debt Problems 615 7$aInternational economics 615 7$aCurrent account deficits 615 7$aStructural reforms 615 7$aExternal debt 615 7$aCurrent account balance 615 7$aCurrent account imbalances 615 7$aBalance of payments 615 7$aDebts, External 676 $a337.47 700 $aVamvakidis$b Athanasios$01602649 801 0$bDcWaIMF 906 $aBOOK 912 $a9910820683903321 996 $aConvergence in Emerging Europe$93926670 997 $aUNINA