Lecture notes

Complete Module Notes for Economic Growth & Development

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Module
Economic Growth and Development (ECO00024I)

Institution
The University Of York (UOY)

The document contains all of the notes for all of the lecture topics with notes on what the lecturer has explained within that.

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Uploaded on February 23, 2021
Number of pages 1
Written in 2019/2020
Type Lecture notes
Professor(s) Thilo huning & mathhais morys
Contains All classes

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The transition economies since the early 1990’s
How successful has transition been in central, east and south- east Europe.
Transition from command to market – economic dimension
liberal democracies based on the rule of law – political dimension

Transition economies not simply classified as developing/emerging economies.
- Poor in a different way: Industrialised, overly strong state, common culture with western
Europe.
- Complete absence of typical problems of developing economics eg population explosion,
poor medical and hygienic conditions

Does transition end at some point
- Global financial crisis of 2008
- Transition has ended but not in a good way, beneficial for some but not all

CESEE operates on approximately 1/3 of EU-12 but economically advanced a regions within these
provinces up to 67.6% of Eu-12
These regions seek political independence, Czech republic, Slovenia and are the richest before WW2
but also join EU in 2004(except Czech republic) and quickly adopt the euro.

Political and economic integration during transition exhibits common features
- Trade liberalisation – winners and losers of liberalisation from opening up to trade, who are
you opening up to and will you win.
- Financial opening – who is going to engineer capital flows in your favour
- Movement of people – Migration towards either western Europe or Russia, typically
movement to booming zones in Russia because of the ease to get there as a pose to western
Europe because of the lack of membership to EU. Beneficial to the migrants, however
sending countries receive remittances but also worried they’re going to run out of people -
bulgaria
- Institutional integration – Most countries tried to enter the EU, as well as international
organisations such as IMF, world bank, OECD

Integration pathways – four groups can be formed
- Commodity rich countries : Russia – metals, Ukraine’s- Metals (inefficient by western
standards but efficient with the countries they deal with), Belarus – Oil refinery not of its
own oil but of Russia’s crude oil, Central Asia consists of mainly hydrocarbons.
- Easy market access countries(Western) – Czech republic, Poland, Slovakia, Hungary.
Meaningful imports to western Europe in the production processes.
- Radical reformers – Baltic countries and Estonia. Go into industries where distance matters
less – reformist zeal/ push heavy for reform
- Remaining countries- export labour intensive products – or simply export their workforce:
Moldova, Albania, Bulgaria, Romania. 1/3 or Moldova lives abroad.

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