Trade played a pivotal role during the transition of many. countries in Europe and Central Asia to market economies. It forced a more efficient use of resourced and supported adoption of new technologies.
Going forward, trade will again be crucial as countries adjust to new specialisation patterns in the world. The adjustment requires not merely tweaking of trade policies, but rather a rethinking of how labour markets and capital markets are organised.
Report by the World Bank
Europe and Central Asia Economic Update, May 2017 : Trade in Transition in Europe and Central Asia6.92 MB