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PECULIARITIES OF ECONOMIC DEVELOPMENT OF EASTERN EUROPE COUNTRIES

Journal: University Economic Bulletin. Collection of scientific articles of scientists and post-graduate students (Vol.1, No. 21)

Publication Date:

Authors : ; ;

Page : 159-163

Keywords : European Union; countries of Eastern Europe; state economy; economic development; macroeconomic indicators;

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Abstract

The article represents separate results of the comparative analysis of economies of Eastern Europe countries. These countries are at present in similar geopolitical and macroeconomic situation which increases the chances of their using foreign experience and bringing new proposals concerning the economic policy. Restructuring of political and economic system and entry of some countries into the European Union changed the geopolitical and macroeconomic situation of the Eastern Europe. The new situation may bring economic profits or become the potential source of problems and conflict situations. Eastern Europe is much less developed than Western Europe, but it carries strong potential used for overcoming lagging from the “old” European Union. Development dynamics is quite high in general, not heterogeneous in time and in space. Acceleration of economic growth of the separate countries occurred in different periods. Asymmetry of development in time stems from different promotion of processes of system transformation and European integration. European Union resists the progressing process of polarizing development of both member states and regions by increasing the range homogeneous policy and expenses for this policy. From the point of view of new EU members, homogeneous policy shall be supported being important factor for the acceleration of economic growth, improvement of economic safety and living standards of population. Due to this policy, these countries received historical chance to catch with the centuries?old lagging in comparison with the western countries.

Last modified: 2016-12-19 09:17:26