Integration, Catching-up and Development Ceilings. The usability and explanatory capability of the semi-periphery term in the analysis of Central and Eastern European countries’ development trajectories

Abstract

 The turning of Central and Eastern European (CEE) economies on the path of building a market economy, their subsequent integration into the European Union’s economic space, and finding their place in it is a geo-economic process of pan-European or even broader significance that takes decades. It has not always been possible to adequately foresee the continuation of this process, the acceleration or slowing of economic growth, faster development of integration or its obstruction. The same goes for the dynamics of more global processes and crises, which all exert their influence on events in our region. Politicians as well as economists have offered unjustifiably optimistic forecasts and sometimes created groundlessly bleak scenarios. Theoretical bases for interpreting, directing and monitoring these ongoing processes have usually been hastily drafted “on the move” and then adjusted to conform to the current reality. As examples we can mention the economic transition theory, the “catching-up” types of approaches, and theoretical positions according to which the economic integration and various types of harmonisation were organised. Of course, there were certain more general theoretical foundations in the fields, such as the theory of economic growth, theories on international trade, developmental economics, etc., but all these were quite general and linking them to particular time periods and the specifics of the region was anything but easy.