{"id":110750,"date":"2024-01-22T16:58:35","date_gmt":"2024-01-22T15:58:35","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/110750\/"},"modified":"2024-11-14T13:22:26","modified_gmt":"2024-11-14T12:22:26","slug":"wirtschaftswachstum-in-den-moel-zunehmend-durch-heimische-nachfrage-getragen","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/110750\/","title":{"rendered":"Economic Growth in the CEECs Increasingly Propelled by Local Demand"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-110750","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"The economic recovery in the EU 15 in 2006 resulted in an acceleration of growth in Central and Eastern European countries (CEECs), particularly in the new EU member states of Central Europe. Helped by the recent massive inflows of FDI, these countries have become serious competitors on the European markets, particularly those of manufactured goods. The continuous nominal currency appreciations in Poland, the Czech Republic and Slovakia reflect their gains in international competitiveness and will not affect their economic growth. In contrast, foreign trade's contribution to growth was decidedly negative in most other CEECs, including the Baltics and the new EU members in South-eastern Europe. Their growth rates \u2013 quite high in some instances \u2013 were first of all due to a boom in private consumption, largely financed by external borrowing facilitated by the dominance of foreign-owned banks. In some cases, the credit boom is about to overheat and produce \"bubbles\", especially in real estate. However, the available policy options are limited: while monetary policy is constrained by fixed exchange rate regimes, fiscal policy is already quite restrictive in general. In the new EU member states, the labour market situation is continuing to improve given that their industrial restructuring is nearing completion, and not least due to the sizeable outward migration flows. In the West Balkan countries, on the other hand, unemployment rates are generally high and rising. Their recent progress towards EU integration has been generally modest, even though greater political stability and growing foreign trade both support their economic recovery. With the exception of Hungary (where large-scale efforts at fiscal consolidation have induced a noticeable economic slowdown), short and medium term economic prospects for the CEECs are positive, whereas growth in Serbia and Ukraine remains relatively vulnerable to political risks.","onlinedate":"2007-05-18 02:00:00","lang":"German","publication_series":"","publication_date":"20070501","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[\"MOEL Wirtschaftsbericht 2006 Osteuropa\",\"Mitteleuropa\",\"S\u00fcdosteuropa\"]","jelcodes":"[]","related_publications":"[]","pdf":415320,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"80","monthly_report_pages":"435-449","monthly_report_pages_sort":"435","issue":"5","journal":"WIFO-Monatsberichte","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[44312],"research_groups":[3491],"collaboration":"","persons":[11983],"persons_data":"[{\"personId\":11983,\"personName\":\"Vasily Astrov\",\"organisationNames\":[\"The Vienna Institute for International Economic Studies\"]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\">Astrov, V. (2007). <span>Wirtschaftswachstum in den MOEL zunehmend durch heimische Nachfrage getragen<\\\/span>. <span><em>WIFO-Monatsberichte<\\\/em><\\\/span>, <em>80<\\\/em>(5), 435-449. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/29081\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/29081<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\">Astrov V. <span class=\\\"title\\\"><span>Wirtschaftswachstum in den MOEL zunehmend durch heimische Nachfrage getragen<\\\/span><\\\/span>. <span>WIFO-Monatsberichte<\\\/span>. 2007 May;80(5):435-449.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{c20c7087240849eda31d8644d14a2a03,<\\\/div><div>  title    = \\\"Wirtschaftswachstum in den MOEL zunehmend durch heimische Nachfrage getragen\\\",<\\\/div><div>  abstract = \\\"Das Wirtschaftswachstum der neuen EU-L{\\\\\\\"a}nder in Mitteleuropa wurde 2006 insbesondere durch die kr{\\\\\\\"a}ftige Exportexpansion beg{\\\\\\\"u}nstigt, in den anderen MOEL jedoch vor allem vom Boom des privaten Konsums getragen. Er wurde in erster Linie durch die enorme Ausweitung der Kreditvergabe an private Haushalte erm{\\\\\\\"o}glicht und hatte zum Teil eine {\\\"}{\\\\\\\"U}berhitzung{\\\"} zur Folge. Die Lage auf dem Arbeitsmarkt entspannte sich zwar in den neuen EU-L{\\\\\\\"a}ndern weiter, in den Westbalkanl{\\\\\\\"a}ndern jedoch verschlechterte sie sich zum Teil neuerlich. Mit Ausnahme Ungarns sind die Wachstumsaussichten in den MOEL generell g{\\\\\\\"u}nstig; in Serbien und der Ukraine sind sie kurzfristig mit politischen Risken behaftet.\\\",<\\\/div><div>  keywords = \\\"MOEL Wirtschaftsbericht 2006 Osteuropa, Mitteleuropa, S{\\\\\\\"u}dosteuropa, MOEL Wirtschaftsbericht 2006 Osteuropa, Mitteleuropa, S{\\\\\\\"u}dosteuropa\\\",<\\\/div><div>  author   = \\\"Vasily Astrov\\\",<\\\/div><div>  note     = \\\"Wirtschaft in den MOEL 2006\\\",<\\\/div><div>  year     = \\\"2007\\\",<\\\/div><div>  month    = may,<\\\/div><div>  language = \\\"Deutsch\\\",<\\\/div><div>  volume   = \\\"80\\\",<\\\/div><div>  pages    = \\\"435--449\\\",<\\\/div><div>  journal  = \\\"WIFO-Monatsberichte\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Wirtschaftswachstum in den MOEL zunehmend durch heimische Nachfrage getragen<\\\/p><p>AU  - Astrov, Vasily<\\\/p><p>N1  - Wirtschaft in den MOEL 2006<\\\/p><p>PY  - 2007\\\/5<\\\/p><p>Y1  - 2007\\\/5<\\\/p><p>N2  - Das Wirtschaftswachstum der neuen EU-L\u00e4nder in Mitteleuropa wurde 2006 insbesondere durch die kr\u00e4ftige Exportexpansion beg\u00fcnstigt, in den anderen MOEL jedoch vor allem vom Boom des privaten Konsums getragen. Er wurde in erster Linie durch die enorme Ausweitung der Kreditvergabe an private Haushalte erm\u00f6glicht und hatte zum Teil eine \\\"\u00dcberhitzung\\\" zur Folge. Die Lage auf dem Arbeitsmarkt entspannte sich zwar in den neuen EU-L\u00e4ndern weiter, in den Westbalkanl\u00e4ndern jedoch verschlechterte sie sich zum Teil neuerlich. Mit Ausnahme Ungarns sind die Wachstumsaussichten in den MOEL generell g\u00fcnstig; in Serbien und der Ukraine sind sie kurzfristig mit politischen Risken behaftet.<\\\/p><p>AB  - Das Wirtschaftswachstum der neuen EU-L\u00e4nder in Mitteleuropa wurde 2006 insbesondere durch die kr\u00e4ftige Exportexpansion beg\u00fcnstigt, in den anderen MOEL jedoch vor allem vom Boom des privaten Konsums getragen. Er wurde in erster Linie durch die enorme Ausweitung der Kreditvergabe an private Haushalte erm\u00f6glicht und hatte zum Teil eine \\\"\u00dcberhitzung\\\" zur Folge. Die Lage auf dem Arbeitsmarkt entspannte sich zwar in den neuen EU-L\u00e4ndern weiter, in den Westbalkanl\u00e4ndern jedoch verschlechterte sie sich zum Teil neuerlich. Mit Ausnahme Ungarns sind die Wachstumsaussichten in den MOEL generell g\u00fcnstig; in Serbien und der Ukraine sind sie kurzfristig mit politischen Risken behaftet.<\\\/p><p>KW  - MOEL Wirtschaftsbericht 2006 Osteuropa<\\\/p><p>KW  - Mitteleuropa<\\\/p><p>KW  - S\u00fcdosteuropa<\\\/p><p>KW  - MOEL Wirtschaftsbericht 2006 Osteuropa<\\\/p><p>KW  - Mitteleuropa<\\\/p><p>KW  - S\u00fcdosteuropa<\\\/p><p>M3  - WIFO-Schriftenreihen<\\\/p><p>VL  - 80<\\\/p><p>SP  - 435<\\\/p><p>EP  - 449<\\\/p><p>JO  - WIFO-Monatsberichte<\\\/p><p>JF  - WIFO-Monatsberichte<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.3 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Economic Growth in the CEECs Increasingly Propelled by Local Demand - 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