This book provides a comprehensive analysis of the main factors that affected the course of the countries of South-Eastern Europe during transition, contributing, as a result, to their disappointing economic performance. Thus, the role of initial conditions and issues concerning the effectiveness of macroeconomic stabilization and structural reforms are at the centre of the analysis. Furthermore, this volume focuses on developments and issues concerning international trade patterns, foreign direct investment and the impact of the Euro on the exchange rate policies of the countries in the region.

CHRISTOS PAPAZOGLOU is a Senior Economist in the Economic Research Department of the Bank of Greece and Assistant Professor of Economics at Panteion University of Athens, Greece. He has numerous publications in economic journals and collective volumes. In recent years, his research interests as well as his publications primarily focus on issues concerning the transition economies.