Oditor, Vol. VII, No. S01/2021
COMPARATIVE ANALYSIS OF MACROECONOMIC INDICATORS IN THE PROCESS OF ECONOMIC TRANSITION IN THE COUNTRIES OF CENTRAL AND EASTERN EUROPE
Aleksandar Savić, Mitja Fabjan, Dragana Trnavac
Date received: 05.02.2021.
Date accepted: 27.04.2021.
Original scientific paper
The transition was to transform the authoritarian communist regime into a democratic society, and also to ensure the restructuring of the centrally planned economy into a free market economy. The key goal of the transition process was to modernize the countries and reduce the main differences between the central and eastern countries on the one hand and the western countries on the other. After more than 25 years of transition, its effects and outcomes can still be seen. Therefore, this paper will compare five transition countries: Slovenia, Slovakia, the Czech Republic, Poland and Hungary, which will analyze available data from the World Bank and Global Competitiveness reports, for seven key macroeconomic indicators, which are considered key performance indicators and development of countries. These selected macroeconomic indicators include: real gross domestic product (GDP), gross domestic product growth, gross domestic product per capita (GDP per capita), foreign direct investment (FDI), unemployment rate and inflation rate. The aim of this comparison is not only to identify differences in numbers, but also to compare the growth rates or progress of these countries.
Keywords: macroeconomic indicators, transition, Central and Eastern European countries.