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    <subfield code="a">P&#xF6;schl, Josef</subfield>
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    <subfield code="a">Wirkung der weltweiten Wirtschaftsflaute in den MOEL begrenzt (Reprint from: WIFO-Monatsberichte, Vol. 75, No. 5, May 2002)</subfield>
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    <subfield code="a">Wien :</subfield>
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    <subfield code="a">European Transition Economies: World-wide Slowdown of Growth of Limited Impact 



In all European transition economies discussed in this article, the GDP grew in both 2000 and 2001. The only exception was Macedonia in 2001, due to a serious political crisis. In those countries that in the past decade experienced an extremely severe economic setback - Bulgaria, Romania, Russia, Ukraine and Yugoslavia - the growth rate jumped to between 5 and 10 per cent at least in one of these two years.



In 2002, almost all countries will be unable to achieve a growth rate similar tot that reported in 2000-01. The world-wide slowdown of economic growth, and especially the growth deceleration in Germany and other EU countries, has shown a direct impact on the export performance of transition countries: exports grew only insignificantly in the last months of 2001, and the same was true for industrial output.



GDP growth was low in the first quarter of 2002, however is likely to intensify in the course of the year as well as in 2003. The inflation rate has become one-digit in most of the countries; a trend towards nominal appreciation emerged in some of the leading countries. A more rapid introduction of the euro is likely to become a hot topic in the course of EU accession.



Austria is making a comfortable surplus in its trade with the Central European transition countries, and especially with Hungary, Croatia, and Slovenia. Hungary is also Austria's major business partner in the region.





Zusammenfassung



Wirkung der weltweiten Wirtschaftsflaute in den MOEL begrenzt



Die Abschw&#xE4;chung der Weltkonjunktur, die sich im IV. Quartal 2001 versch&#xE4;rfte, hinterlie&#xDF; auch in den MOEL deutliche Spuren. Die Wachstumsd&#xE4;mpfung blieb allerdings m&#xE4;&#xDF;ig, die Region erscheint gegen&#xFC;ber dem externen Konjunkturschock relativ widerstandsf&#xE4;hig. In den einzelnen L&#xE4;ndern hatten neben &#xE4;u&#xDF;eren Einfl&#xFC;ssen spezifische interne Entwicklungen gro&#xDF;en Einflu&#xDF; auf das Wirtschaftswachstum. Die Inflation ist weiterhin h&#xF6;her als in den westlichen Industriel&#xE4;ndern, hat aber in den meisten L&#xE4;ndern der Region sinkende Tendenz. Die Arbeitslosenquote hat sich auf relative hohem Niveau stabilisiert. Der Au&#xDF;enhandel ist, sieht man von wichtigen Ausnahmen ab, strukturell defizit&#xE4;r. In allen L&#xE4;ndern der Region erscheint das marktwirtschaftliche System fest etabliert. Gleichzeitig besteht, wenn auch in sehr unterschiedlichem Ma&#xDF;e, bez&#xFC;glich der technologischen und institutionellen Ausstattung ein Entwicklungsr&#xFC;ckstand.
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