Review of economic growth patterns and regional disparities in Central and Eastern European countries

Abstract

The Central and Eastern European (CEE) countries have undergone an exceptional economic boom over the past two decades. The CEE region has proven in recent years that it is capable to maintain sustainable growth. This paper aims to reveal the economic growth patterns, development dynamics, and regional disparities in the CEE region and the possible reasons beyond that.  The methodology is based on secondary research analysing EU, OECD, and national documents, online literature sources, and relevant, up-to-date statistical data as well. The analysis is based on this “desk research” finding that reflects the authors' professional views and hopefully can contribute to understanding the main driving forces of the CEE region's economic trends. The results show that CEE countries are lagging in innovation and productivity. Also, innovation requires fair competition as it encourages continuous improvement.

Keywords: CEE; digital transition; economic development; FDI inflow; knowledge transfer.