Accelerate change. Higher saving is the key to higher growth for new EU members

One of a series of articles in this issue of Finance and Development under the theme 'Europe's conundrum', which focus on the economic challenges facing the European Union following the accession of 10 new members on May 1, 2004.

A large gap in economic development, productivity, and living standards exists between the established members of the European Union and the eight new Central and Eastern European member countries. According to the Polish President's Chief Economic Advisor, the key to faster growth in the new members is higher domestic saving.

• Primary Source

http://www.imf.org/external/pubs/ft/fandd/2004/06/index.htm http://www.imf.org/external/pubs/ft/fandd/2004/06/index.htm

---