EIJS Working Paper Series,
Stockholm School of Economics, The European Institute of Japanese Studies

Abstract: The focus of the economic policy debate in most of Europe’s transition economies has shifted from stabilization and recovery to growth and convergence during the last few years. This paper summarizes some of the growth experiences of East Asia, and discusses some lessons for Europe’s transition economies. The relevant lessons from Asia focus on the importance of sound macroeconomic policies and an outward oriented trade regime, and highlight the need for public support for the development of trade infrastructure, including institutions for export financing, insurance, market research, and technology transfer. The Asian experiences also suggest that there is reason to be cautious regarding the objective to fix nominal exchange rates during periods of high growth.

Keywords: growth; export promotion; transition; EU accession

JEL-codes: F13; O10; P30

47 pages, February 1, 2002

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