Eastern European Economies Amidst Global and Regional Shocks

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1 Apr 2025

Trade & Macro

CASE Reports

Jan Hagemejer

Marek Dabrowski

Christopher A. Hartwell

Olga Popova

Vladimir Otrachshenko

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Jan Hagemejer

President of CASE Management Board, Macroeconomics & Trade Director
Jan Hagemejer’s areas of expertise are international trade as well as macroeconomic and structural issues. He graduated from University of Warsaw where he also obtained his PhD and habilitation, as well as from Purdue University (MA in Economics). He works as an associate professor at the Faculty of Economic Sciences, University of Warsaw. Prior to … <a href="https://case-research.eu/publications/eastern-european-economies-amidst-global-and-regional-shocks/">Continued</a>

Articles from this author:
- Wealth Taxation, Including Net Wealth, Capital and Exit Taxes
- The Cost of Lost Potential: An Economic Analysis of the Foster Care System
  The report analyses the functioning of the foster care system in Poland, with a particular focus on the level of financial support and the situation of young people leaving care. It shows that although the majority of children are placed in family-based care, the level of benefits is uneven, with the lowest support provided to kinship foster families. At the same time, institutional care remains the most costly form of care from a public finance perspective.
- The repercussions of US agri-food tariffs on EU regions
Author’s articles
Marek Dabrowski
Expertise:  Background: Current Positions: Previous Positions: Visiting Professor, Central European University, Vienna (2023 – 2024) Dr Marek Dabrowski is a Non-Resident Scholar at Bruegel, Brussels, and Fellow at CASE – Center for Social and Economic Research in Warsaw. He was a co founder of CASE (1991), former Chairman of its Supervisory Council and President of … <a href="https://case-research.eu/publications/eastern-european-economies-amidst-global-and-regional-shocks/">Continued</a>

Articles from this author:
- Financing Ukraine’s recovery and reconstruction through the 2028-2034 Multiannual Financial Framework
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  This publication examines how much fiscal room Russia still has under wartime conditions. It focuses on public finances, debt, inflation, and the broader macroeconomic effects of the war in Ukraine and Western sanctions.
- Future outlook of EU-Moldova trade and investment relations
  This study explores the evolution and prospects of economic relations between the European Union and the Republic of Moldova.
Author’s articles
Christopher A. Hartwell

Prof. Hartwell’s research concerns transition dynamics, the economics of institutions, and financial sector development. He has published in prestigious political science and economics journals such as Journal of Economic Behavior & Organization, Explorations in Economic History, JCMS: Journal of Common Market Studies, Cambridge Journal of Economics, Journal of Economic Policy Reform, Regional Studies, and Post-Communist Economies, and regularly appears in print and other media commenting on economic issues of the day. In addition to his academic work, he has advised governments and the private sector on economic policy issues in Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Poland, Russia, Ukraine, Croatia, Bosnia, and Kosovo, among others. In his earlier position with the Moscow School of Management – SKOLKOVO, he led the Institute for Emerging Market Studies’ (IEMS) work in finance and institutional research. He also worked for the World Bank Group in Tonga as the IFC’s in-country representative and for the US Department of the Treasury in Washington DC.
Olga Popova
Vladimir Otrachshenko

The Eastern neighbourhood of the European Union (EU), comprising Armenia, Azerbaijan, Belarus, Georgia, Moldova, Russia, and Ukraine, has faced persistent economic and geopolitical challenges. Since the collapse of the Soviet Union, these nations have grappled with economic transition, political instability, and repeated global crises, including the 2008 financial crash, the 2014–2015 commodity price decline, the COVD-19 pandemic, and the ongoing inflation surge. Russia’s full-scale invasion of Ukraine in 2022 has further exacerbated these difficulties, disrupting trade, investment, and energy security while affecting economies across the region.

This comprehensive report: Eastern European Economies Amidst Global and Regional Shocks published in series CASE Report analyses the economic impact of these crises, focusing on four key areas: macroeconomic stability, financial sector resilience, external trade and investment, and energy security. While Moldova has been particularly affected by war-related disruptions, Armenia and Georgia have experienced benefits from increased trade and migration inflows from Russia. Additionally, political instability, the rise of authoritarianism in several states, and unresolved territorial disputes continue to shape economic policies and growth prospects.

The authors of this report: Marek Dąbrowski, Jan Hagemejer, Chris A. Hartwell, Vladimir Otrachshenko and Olga Popova are distinguished experts in economics, international trade, financial policy, and environmental economics, with extensive experience in academic research, policy advising, and global economic development. Their collective expertise provides valuable insights into the economic challenges facing the Eastern neighbourhood of the EU, offering well-founded policy recommendations for stability and resilience in the region.

The report provides a comparative analysis based on international and national data sources, covering data from 2007 to 2023. Whenever possible, authors add the forecasted data for 2024 and 2025. It highlights vulnerabilities in the region’s economies and offers policy recommendations to promote stability and resilience.

The study has been put together under the project on ‘Increasing the Economic Resilience of Armenia, Georgia and Moldova’ carried out by CASE – Center for Social and Economic Research in Warsaw in partnership with MODEX LLC in Yerevan, the Economic Policy Research Centre in Tbilisi, and Expert-Group in Chisinau.

In the earlier stage of this project, three country case studies were published: on Armenia, on Moldova, and on Georgia.
The project benefited from generous support provided by the Foundation Open Society Institute, grant number OR2023-90290.

Please note: CASE – Center for Social and Economic Research based in Warsaw, Poland is not affiliated with the organisation CASE – Center for Analysis and Strategies in Europe based in Cyprus.

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Eastern European Economies Amidst Global and Regional Shocks

Jan Hagemejer

Articles from this author:

Marek Dabrowski

Articles from this author:

Christopher A. Hartwell

Olga Popova

Vladimir Otrachshenko

Related publications

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Eastern European Economies Amidst Global and Regional Shocks

Jan Hagemejer

Articles from this author:

Marek Dabrowski

Articles from this author:

Christopher A. Hartwell

Olga Popova

Vladimir Otrachshenko

Related publications

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