When German unification took place in 1990, the government was optimistic that the process of closing the economic gap between the two Germanies would be a brief one. However, economic unification has turned out to be more costly and much more complex than anticipated. But on the other hand it...

This paper analyzes the link between structural change, growth and bazaar effects in the context of open economies. At first we consider the theoretical basis of structural change and discuss the interdependencies between trade, foreign direct investment and innovation dynamics. The empirical...

The key dynamics of the transatlantic banking crisis are analyzed – with emphasis on the fact that the banking disaster of 2007/08 was not really a surprise –, and the five key requirements for restoring stability and efficiency in the EU/OECD banking sector are highlighted. Most important,...