A. Illarionov Institute of Economic Analysis

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EUROPE’S ECONOMIC AGENDA: HOW TO STIMULATE ECONOMIC GROWTH IN NEW EUROPEAN DEMOCRACIES? A. Illarionov Institute of Economic Analysis Vilnius Conference: Europe’s New Democracies and the Euro-Atlantic Agenda Vilnius, May 3, 2006. © Institute of Economic Analysis www.iea.ru ИЭПП

GDP per capita in the EU-25 as a ratio to the USA fell from 72% in 1982 to 66% in 2006. © ИЭА

GDP per capita in the EU-15 as a ratio to the USA fell from 79% in 1982 to 73% in 2006. © ИЭА

In 1991-2006 GDP per capita as a ratio to the USA in the EU-15 fell from 78 to 73%, but in NED-10 it grew from 30 to 37%. © ИЭА

In 1991-2005 economic growth in NED-10 was almost twice faster than in EU-15. © ИЭА

On average size of government in EU-15 is 18% higher than in NED-10, 1991–2005. © ИЭА

Size of Government and Economic Growth in EU-25, 1994-2005 23 © ИЭА

Since 2000 size of government increases in both EU-15 and NED-10. © ИЭА

Size of Government and Economic Growth – inversed correlation for EU economies is confirmed. New European Democracies so far are not too overburdened by the size of government. Continuing increase in size of government presents the most serious threat to economic growth in all parts of Europe. © ИЭА