EBRD: Summary of the 2010 Transition Report
Overview:
The EBRD notes that 2010 was a year of “stagnation” for the Transition Economies (TE) in terms of the implementation of economic reforms. There was little progress forward but also few signs of back-tracking. The global economic crisis has led to calls for a "new model" of economic growth for these countries as they seek to grow richer and, in many cases, converge with the EU. The EBRD concedes that the last few years have emphasized some weaknesses in the existing economic reform template but notes also that some concrete achievements have also been secured. The challenge now is to secure less volatile growth going forward which will also be less dependent on (more scarce) capital inflows. This will require the development of domestic capital markets and further improvements in respective business climates.