FINANCIAL CRISIS IN CENTRAL AND EASTERN EUROPE GORZELAK G. GOH CH. Bankowa.pl

The financial crisis of 2008–2009 has become the most serious challenge for the Central and Eastern European countries after they had completed the process of post-socialist transformation and became EU members.

The negative impacts of the recession on their most important international partners multiplied their own tensions and imbalances which – in some cases – have led to a dramatic decline of the GDP and serious cuts in public spending and personal incomes.The situation within the group is far from uniform. On the one hand we have Poland – the only country in Europe that has not gone through a recession, and on the other hand there are the Baltic Republics that have lost some one fifth of their output. Also, the anti-crisis policies implemented in particular countries were strongly differentiated. Keeping in mind all these differences one may say that the New Member States, on the whole, have confronted the challenges of the crisis bravely and effectively due to their still great adaptability and flexibility of both the political elites and societies. They thus may become an example for some other EU Member States which are currently struggling with economic difficulties and strong social protests against necessary but harsh economic measures. This book contains papers presented at a World Bank-sponsored seminar that was held in Warsaw in September 2009, when the crisis still was in full swing. The authors reflect on the general dimensions of the crisis and also report on situations in particular Central and Eastern European countries, and in the group as a whole.

The Authors: John Bachtler, Jirżi Blażek, Jan Buczek, Donatas Burneika, Daniela-Luminita Constantin, Sara Davies, Karoly Fazekas,Indermit S. Gill, Chor-ching Goh, Grzegorz Gorzelak, Zizi Goschin, Moritz Lennert, Tatjana Muravska, Witold M. Orłowski, Eva Ozsvald, Bryce Quillin, Garri Raagmaa, Krzysztof Rybiński, Julia Spiridonova, Peter Wostner, Piotr Żuber.

INTRODUCTION

WITOLD M. ORLOWSKI
The Nature of the Current Crisis

MORITZ LENNERT
The Final Decline of Western European Industries? A Reflection Note on Structural Explanations of the Geography of the Crisis in Western Europe

INDERMIT S. GILL AND BRYCE QUILLIN
Economic Update: The Crisis Hits Home in Emerging Europe

JULIA SPIRIDONOVA
The Geography of the Financial Crisis and Policy Response in Bulgaria

Mi BLAZEK
The Regional Impacts of the Global Financial and Economic Crisis in the Czech Republic

GARRI RAAGMAA
Regional Impacts of the Global Financial and Economic Crisis in Estonia

KAROLY FAZEKAS AND EVA OZSVALD
The Geography of the 2008-2009 Crisis - the Case of Hungary

TATJANA MURAVSKA
The Latvian Economy at the Crossroads: Regional Dynamics

DONATAS BURNEIKA
Main Trends of Development and Regional Peculiarities in the Lithuanian Economy in the Context of the Recent Economic Recession

GRZEGORZ GORZELAK
The (non-existing?) Polish Crisis

PlOTR ŻUBER
Poland. The Crisis and the Policy Response in the Area of Cohesion Policy

ZIZI GOSCHIN AND DANIELA-LUMINITA CONSTANTIN
The Geography of the Financial Crisis and the Policy Response in Romania

JAN BUCEK
The Financial and Economic Crisis in Slovakia - its Spatial Aspects and Policy Responses

PETER WOSTNER
The Crisis, Slovenia and its Regions

JOHN BACHTLER AND SARA DAVIES
The Geography of the Crisis in Western Europe: National and Regional Impacts and Policy Responses

GRZEGORZ GORZELAK
The Financial Crisis in Central and Eastern Europe

JIRI BLAZEK
Regional Unemployment Impacts of the Global Financial Crisis in the New Member States of the EU

KRZYSZTOF RYBINSKI
Blind Europe After the Crisis? Wrong Diagnosis, Wrong Treatment, Bad Outcomes

INDERMIT S. GILL AND CHOR-CHING GOH
Concluding Remarks: Place and Prosperity

ABOUT THE AUTHORS

292 pages, Paperback

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