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1、StructuralReformandProductivityGrowthinEmergingEuropeandCentralAsiaWhatlessonsdoesemergingEurope’sconvergenceexperiencesincetheearly1990sholdforemergingAsia?Comprehensivestructuraltransformationliftedtotalfactorproductivity(TFP).Yetbythelate2000s,theTFPcatch-uppoten
2、tialhadbeenexhausted.Tosustainconvergence,greateremphasisisneededonreformsfacilitatinginnovation,boostingfirmproductivity,andimprovingequalityofeconomicopportunities.AbouttheAsianDevelopmentBankADB’svisionisanAsiaandPacificregionfreeofpoverty.Itsmissionistohelpitsde
3、velopingmembercountriesreducepovertyandimprovethequalityoflifeoftheirpeople.Despitetheregion’smanysuccesses,StRuCtuRAlREfORmitremainshometoalargeshareoftheworld’spoor.ADBiscommittedtoreducingpovertythroughinclusiveeconomicgrowth,environmentallysustainablegrowth,andr
4、egionalintegration.ANDPRODuCtivityBasedinManila,ADBisownedby67members,including48fromtheregion.Itsmaininstrumentsforhelpingitsdevelopingmembercountriesarepolicydialogue,loans,equityinvestments,guarantees,grants,andtechnicalassistance.GROwthiNEmERGiNGEuROPEANDCENtRAl
5、ASiAYordanGeorgiev,PiroskaNagy-Mohacsi,andAlexanderPlekhanovNO.523adbeconomicsoctober2017workingpaperseriesAsiAnDevelopmentBAnk6ADBAvenue,MandaluyongCity1550MetroManila,PhilippinesASIANDEVELOPMENTBANKwww.adb.orgADBEconomicsWorkingPaperSeriesStructuralReformandProduc
6、tivityGrowthinEmergingEuropeandCentralAsiaYordanGeorgiev,PiroskaNagy-Mohacsi,YordanGeorgiev(Yordan.Georgiev@bankofengland.co.uk)isanEconomistattheBankofEngland.PiroskaNagy-andAlexanderPlekhanovMohacsi(P.Nagy-Mohacsi@lse.ac.uk)isProgrammeNo.523
7、October2017Directorint
8、heInstituteofGlobalAffairsattheLondonSchoolofEconomics.AlexanderPlekhanov(plekhana@ebrd.com)isanAssociateDirector,DeputyDirectorofResearchattheEuropeanBankforReconstructionandDevelopment.ThispaperhasbeenpreparedasbackgroundmaterialfortheAsianDevelopmentOutlook2017th
9、emechapteronTranscendingtheMiddle-IncomeChallengeundertheguidanceofDonghyunPark.TheauthorsaregratefultoErikBerglof,SergeiGuriev,EraDabla-N
