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The economic crisis, the second economic shock to hit the Eastern Europe and the South Caucasus region after the collapse of the Soviet Union, has been a warning and a call to action. The region has many advantages and much potential, but some of this was squandered during the boom years of the 2000s. The studies contained in this volume demonstrate that the potential is still there and that the measures that need to be taken to realize that potential are feasible and affordable. Some of them can have an almost immediate effect, such as easing access to finance for small and medium-sized enterprises and opening up new markets for the region's goods. Others are more medium-term, such as redeveloping product lines in the steel industry or in agriculture. Some of the most critical reforms, like raising the level of education and improving health care, will require political and economic investment over the long term.--Publisher's description.

Caucasus, South -- Economic conditions. --- Economic development -- Caucasus, South. --- Economic development -- Europe, Eastern. --- Europe, Eastern -- Economic conditions -- 1989-. --- Economic development --- Business & Economics --- Economic History --- Europe, Eastern --- Caucasus, South --- Economic policy --- Economic conditions --- Economic policy. --- Economic conditions. --- Development, Economic --- Economic growth --- Growth, Economic --- Haravayin Kovkaz --- I︠U︡zhnyĭ Kavkaz --- Samxretʻ Kavkasia --- South Caucasus --- Transcaucasia --- Transcaucasus --- Zakavkazʹe --- Zakavkazʹye --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse

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Since 2008, Emerging Europe has been in the grip of a severe economic and financial crisis. The region is now gradually recovering but the speed and sustainability of this recovery and the prospects for economic reconvergence with the rest of the EU are still uncertain. Against this background, policy makers, high-level practitioners and experts from central banks, international institutions and academia identify the main reasons for the crisis and the main challenges for the recovery process. Essays highlight the significant cross-country differences within Emerging Europe including the Western Balkans and the Commonwealth of Independent States, focusing on the region's growth model as well as the pros and cons of financial integration and the challenges to financial stability.

Economic development --- Global Financial Crisis, 2008-2009 --- Regional disparities --- Europe, Central --- Europe, Eastern --- Economic conditions --- 338.94 --- 331.30 --- 331.31 --- EEC / European Union - EU -Europese Unie - Union Européenne - UE --- Global Economic Crisis, 2008-2009 --- Subprime Mortgage Crisis, 2008-2009 --- Financial crises --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Economische toestand --- Economisch beleid --- Europe --- Council of Europe countries --- Eastern Hemisphere --- Eurasia --- Economic development - Europe - Regional disparities --- Economic development - Europe, Central --- Economic development - Europe, Eastern --- Europe, Central - Economic conditions - 21st century --- Europe, Eastern - Economic conditions - 21st century