Journal
TECHNOLOGICAL AND ECONOMIC DEVELOPMENT OF ECONOMY
Volume 25, Issue 6, Pages 1336-1362Publisher
VILNIUS GEDIMINAS TECH UNIV
DOI: 10.3846/tede.2019.11253
Keywords
structural change; input-output model; key sectors; crisis; CEE economies
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In the era of intensive globalization and frequent economic shocks, boosting the GDP growth becomes the most difficult task and main preoccupation of policymakers. This is particularly true for Central Eastern European countries or so called CEE countries, which are trying to overcome contemporary and inherited imbalances at the same time. These economies were faced with another huge challenge after 2008. They have to maintain the same pace of structural reforms during the global economic crisis and to mitigate the negative effects of the crisis on economic growth. In that sense, the aim of this paper is to provide insight into a structural change in these economies in the period 2000-2014, using Leontief input-output analysis of the key sectors. The results pointed out that most of the key sectors during the period are service related sectors and that their number is increased after the crisis, while manufacturing of basic metals and electricity, gas, steam, and air conditioning supply have lost the status of the key sector.
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