Tendencies of the central and east European countries development

The paper reviews the different economic potential of the ten analysed CEE countries at the beginning of the transformation process (1989 - 1990). The main features of each transformation approach are identified (privatization, liberalization, transition between economic systems). A comparative analysis of the basic economic indicators development during the transformation period is the core of the paper.
Special attention is focused on the differences in subsequent economic growth, in its basic factors, in the convergence process, restructuring trends, the links with the external economic environment and in the competitive ability of CEE countries. The closing part of the paper is devoted to comparative analysis of the CEE countries' potential for future economic growth (during the five to fifteen years) and to the proper policy approach necessary to stimulate the needed acceleration of the transformation process towards a market economy in these countries.

Keywords: economic growth, economic potential, performance parameters, system conditions, restructuring trends, convergence process of the CEE economies