Growing together: Croatia and Latvia

Arbeitspapier

We compare and contrast the economic growth performance of Croatia and Latvia since the collapse of communism in 1991 in an attempt to understand better the extent to which the growth differential between the two countries can be traced to increased efficiency in the use of capital and other resources (intensive growth) as opposed to sheer accumulation of capital (extensive growth). On the basis of a simple growth accounting model, we infer that advances in education at all levels, good governance, and institutional reforms have played a significant role in raising economic output and efficiency in both Croatia and Latvia. The EU perspective made a more significant contribution to growth in Latvia than in Croatia, even if Latvia's immediate post-accession boom proved unsustainable.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: CESifo Working Paper ; No. 3202

Classification and Topics

• Classification: Wirtschaft ; Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
• Subject: economic growth ; governance ; transition economies ; Wirtschaftswachstum ; Übergangswirtschaft ; Bildungsinvestition ; Good Governance ; Institutioneller Wandel ; Schätzung ; Vergleich ; Lettland ; Kroatien

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Gylfason, Thorvaldur ; Hochreiter, Eduard
• Event: Veröffentlichung
• (who): Center for Economic Studies and ifo Institute (CESifo)
• (where): Munich
• (when): 2010

Further information

• Handle: http://hdl.handle.net/10419/46379
• Last update: 10.03.2025, 11:42 AM CET