 General Overview. While it is now indisputable that economic growth is central to raising the incomes of the poor, macroeconomic reforms and stabilization while remaining critical, are no longer viewed as sufficient to achieving the needed growth. Experience in Eastern Europe and Central Asia bears evidence to this notion. The recent recovery in growth rates across the region, although showing evidence of abating in 2005, has been due variedly to high commodity prices in the CIS countries and regional oil-exporters, emerging political stability in the Balkans, and accession and prospects for accession through central Europe and the Baltics... more>>
Regional Challenges and Prospects. However, the most durable growth performances in the region have been experienced by those economies that have persisted in the structural transformation of their economies and institutions, at the macro and micro levels. In particular, those countries that have been resolute in addressing constraints to investment and firm formation have been rewarded with sustained and shared growth. Key challenges remain in translating the economic expansion, much of which has been due to increases in productivity among restructured sectors, into job growth and to lagging regions, so that the broader populace and the poor, can share in the benefits... more>>
The World Bank's Strategy. The World Bank has been instrumental both in keeping the momentum for reform through its policy dialogue and financial support, as well as providing the analysis needed to address remaining and emerging issues... more>>
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