Individual chapter in Excel format of the Handbook of Statistics 2012 - Excel edition....more

Individual chapter in Excel format of the Handbook of Statistics 2012 - Excel edition....more

Individual chapter in Excel format of the Handbook of Statistics 2012 - Excel edition....more

Individual chapter in Excel format of the Handbook of Statistics 2012 - Excel edition....more

Individual chapter in Excel format of the Handbook of Statistics 2012 - Excel edition....more

Bulgaria: economic sluggishness expected to drag on (by Rumen Dobrinsky; pp. 1-3) Keywords: economic forecasts, GDP growth, inflation Countries covered: Bulgaria Topics: Macroeconomic Analysis and Policy Czech Republic: deepening recession(by Leon Podkaminer; pp. 4-6) Keywords: economic forecasts, GDP growth, inflation Countries covered: Czech Republic Topics: Macroeconomic Analysis and Policy Estonia: domestic demand mitigates slowdown (by Sebastian Leitner; pp. 7-9) Keywords: economic forecasts, GDP growth, inflation Countries covered: Estonia Topics: Macroeconomic...more

It is textbook knowledge that economic crises are in most cases associated with the accumulation of macroeconomic imbalances. In turn, macroeconomic imbalances emerge as the result of imbalanced growth. In the ideal world of equilibrium, all macroeconomic variables change at the same, equilibrium growth rate. The real world is one of disharmony and disequilibria, when there are significant divergences in the rates of growth of economic variables. When speed differentials are within certain limits, the resulting macroeconomic imbalances are manageable through the instru...more

Financial balances of the private, foreign and public sectors: long-term tendencies for the European Union (by Roman Römisch; pp. 1-6) Keywords: fiscal policy, budget deficits, investments and savings, public-private balances Countries covered: European Union Topics: Macroeconomic Analysis and Policy Labour hoarding during the crisis: Evidence for selected new member states from the Financial Crisis Survey (by Sandra M. Leitner and Robert Stehrer; pp. 7-13) Keywords: labour hoarding, financial crisis, firm-level analysis Countries covered: Bulgaria, Hungary, Latvia, Lithuania, ...more

(Reprint from: WIFO-Monatsberichte, Vol. 85, No. 5, May 2012) Zusammenfassung Die gegenwärtige Wirtschaftskrise weist alle jene Merkmale auf, die mit finanziellen, verschuldungsbezogenen und strukturellen Aspekten von Leistungsbilanzkrisen verbunden werden. Daraus ergeben sich dauerhaft dämpfende Effekte für die Entwicklung der Gesamtnachfrage in den mittel-, ost- und südosteuropäischen Ländern, sodass sich eine nachhaltige Erholung verzögert. Die vorübergehende Belebung 2010/11 war insbesondere vom Export getragen. Deutliche Entwicklungsunterschiede zwischen den einzelnen Ländern Ostmitte...more

For the CESEE countries, wiiw expects 2012 to be a rather disappointing year. GDP growth will be rather slow – at least when judged by the past standards and the ambitions harboured only a few years ago. Some countries (Czech Republic, Hungary, Slovenia, Bosnia and Herzegovina, Serbia) will suffer a mild recession or come close to it (Bulgaria, Romania, Montenegro). 2013 will be characterized by external imbalances developing anew in some countries, although these are not expected to culminate in a repetition of precipitate and disorderly rebalancing crises. The imbalances, if allowed to widen, may come to a sticky end later. The fiscal consolidation in many CESEE countries is pursued despite the revealed weakness of private consumption and investment, amid signs of flagging demand for CESEE exports....more

Main messages: Differentiated economic development in CESEE countries Strength/weakness of export sector is crucial External demand and deleveraging depress domestic demand Labour market problems increase SEE: Persistent solvency and liquidity problems Growth remains below potential absent external and policy improvements ...more

Main messages: Differentiated economic development in CESEE countries Strength/weakness of export sector is crucial External demand and deleveraging depress domestic demand Labour market problems increase SEE: Persistent solvency and liquidity problems Growth remains below potential absent external and policy improvements ...more

The Vienna Institute for International Economic Studies (wiiw) has just published its latest Analyses and Forecasts. The report, titled Fasting or Feasting? Europe - Old and New - at the Crossroads, analyses current economic situation and medium-term forecast for the countries of Central, East and Southeast Europe. For the CESEE countries, wiiw expects 2012 to be a rather disappointing year. GDP growth will be rather slow – at least when judged by the past standards and the ambitions harboured only a few years ago. Some countries (Czech Republic, Hungary, Slovenia, Bosnia and Herzego...more

The Vienna Institute for International Economic Studies (wiiw) has just published its latest Analyses and Forecasts. The report, titled Fasting or Feasting? Europe - Old and New - at the Crossroads, analyses current economic situation and medium-term forecast for the countries of Central, East and Southeast Europe. For the CESEE countries, wiiw expects 2012 to be a rather disappointing year. GDP growth will be rather slow – at least when judged by the past standards and the ambitions harboured only a few years ago. Some countries (Czech Republic, Hungary, Slovenia, Bosnia and Herzego...more

The Vienna Institute for International Economic Studies (wiiw) presents an analysis of foreign direct investment (FDI) in 22 Central, East and Southeast European countries based on the latest update of its database. FDI continues to be of great significance for the development of the former transition economies. The domestic engines of economic growth are still weak, and fiscal consolidation provides a drag on the economies. The short-lived recovery in 2011 was based mainly on external demand, which upgraded the importance of foreign investors, as they generate a major part of exports. ...more

The Vienna Institute for International Economic Studies (wiiw) has just published its latest Analyses and Forecasts. The report, titled New Divide(s) in Europe?, analyses current economic situation and medium-term forecast for the countries of Central, East and Southeast Europe. The present economic crisis bears all the familiar hallmarks of the financial, debt-related and structural aspects of current account crises. All these aspects have lasting level effects and recovery can be very protracted. Export-led growth was an important feature of the recovery period 2010-2011, yet signi...more

Presentation of wiiw's latest growth forecast for the countries of Central, East and Southeast Europe for the period 2010-2013. Presentation of the new wiiw Handbook of Statistics 2011. ...more

The Vienna Institute for International Economic Studies (wiiw) has just published its latest Analyses and Forecasts. The report, titled Recovery: Limp and Battered, analyses current economic situation and medium-term forecast for the countries of Central, East and Southeast Europe. In 2011 the recovery will encompass all countries in the CESEE region – even the laggards that did not grow in 2010. However GDP growth will not accelerate much in countries where the recession ended already in 2010. Later on, GDP growth rates will stabilize throughout the whole region at around 4 to 5 pe...more

The Vienna Institute for International Economic Studies (wiiw) has just published its latest Analyses and Forecasts. The report, titled Recovery: Limp and Battered, analyses current economic situation and medium-term forecast for the countries of Central, East and Southeast Europe. In 2011 the recovery will encompass all countries in the CESEE region – even the laggards that did not grow in 2010. However GDP growth will not accelerate much in countries where the recession ended already in 2010. Later on, GDP growth rates will stabilize throughout the whole region at around 4 to 5 pe...more

In einem speziellen Kapitel („Debt dynamics, flow of funds and deleveraging“) des Konjunkturberichtes "Recovery: Limp and Battered" wird die Verschuldungsdynamik nach Sektoren (Haushalte, Unternehmen, Staat) vor und nach dem Ausbruch der Finanzkrise untersucht und mit den GIPS-Ländern (Griechenland, Irland, Portugal, Spanien) verglichen. Die Last der privaten Verschuldung hat wichtige Konsequenzen für das Ausgaben- und Sparverhalten des Haushalts- und Unternehmenssektors und damit für die Entwicklung der Inlandsnachfrage (Konsum und Investitionen). Dabei zeigen sich sehr unterschiedliche Muste...more

In a special chapter ("Debt dynamics, flow of funds and deleveraging") of the wiiw Forecast "Recovery: Limp and Battered", the debt developments of the private (households, corporate) and public sectors before and after the start of the financial crisis are examined and compared with those in the GIPS countries (Greece, Ireland, Portugal, Spain). The burden of the build-up of private sector debt before the crisis has important consequences for spending and savings behaviour of households and enterprises and hence for the development of domestic demand (consumption and investment). In this resp...more

The Vienna Institute for International Economic Studies (wiiw) presents an analysis of foreign direct investment (FDI) in 20 Central, East and Southeast European countries based on the latest update of its database. FDI is still of great importance for the development of CEECs especially as the domestic engines of economic growth are still weak, and fiscal consolidation drags on many of the economies. The economic recovery that has started in the region is mainly based on external demand, which has upgraded the role of foreign investors whose subsidiaries produce the main part of exp...more

The Vienna Institute for International Economic Studies (wiiw) has just published its latest Analyses and Forecasts. The report, titled Recovery – in Low Gear across Tough Terrain, analyses current economic situation and medium-term forecast for the countries of Central, East and Southeast Europe. All Central, East and Southeast European (CESEE) countries will return to growth in 2011. The post-crisis GDP growth will be slower than before and not suffice to generate additional jobs. The role of external demand gradually weakens, while both household consumption and gross fixed inves...more

The Vienna Institute for International Economic Studies (wiiw) has just published its latest Analyses and Forecasts. The report, titled Will exports prevail over austerity?, analyses current economic situation and medium-term forecast for the countries of Central, East and Southeast Europe, and China The Central, East and Southeast European (CESEE) economies will experience on average a minor rebound of economic growth to 1% in 2010 which will speed up to 2.5% in 2011 and 3.5% in 2012. GDP growth will be higher in the CIS countries and in Turkey, about average in the Central European N...more

The Vienna Institute for International Economic Studies (wiiw) has just published its latest Analyses and Forecasts. The report, titled Crisis Is Over, but Problems Loom Ahead, analyses recent economic developments and short- and medium-term prospects of the countries of Central and Eastern Europe, Southeast Europe including Turkey, as well as Kazakhstan, Russia, Ukraine and China. Most countries in Central, East and Southeast Europe have emerged from the trough of the crisis already at the end of 2009. Several leading indicators point to a modest upswing. All countries in the regio...more

wiiw presents its new analysis of FDI developments in 20 Central, East and Southeast European countries, based on the latest update of the wiiw FDI Database. German: Das wiiw präsentiert seine aktuelle Analyse der Entwicklung der Auslandsinvestitionen in Zentral-, Ost- und Südosteuropa, sowie den Update der "FDI Database" mit detaillierten Statistiken über Auslandsinvestitionen in 20 Ländern....more

Current financial developments and global imbalances of savings and investments are increasingly affecting economic developments. The panel will discuss the consequences for transition countries in Central, East and Southeast Europe. Many of these countries exhibit high credit growth with current account deficits. That raises concerns about the soundness of their financial systems and of other vulnerabilities with important policy implications. There are concerns that some of these economies are overheating and that risks to macroeconomic stability are increasing. Speakers will address the ris...more