According to a new paper by World Bank economists Paulo Correa and Mariana Iootty, the recovery won't look pretty. The financial crisis and concomitant global economic crisis have had a disproportionately harsh impact on young and innovative firms in Eastern Europe, and this does not bode well for future growth prospects.
A few weeks ago, our corner of the World Bank hosted an event where Correa and Iootty presented their findings. (This was the first in a new series called FPD Academy that will highlight excellent new analytical work on financial and private sector development.) Video of the event appears below the jump. The presentation itself starts at 4:30 and runs to 27:30. A discussant provides remarks immediately after the presentation, and a Q&A follows.