The demise of the CMEA trading system in 1991 and the shift to convertible currency settlements and world market prices was expected to bring about a severe contraction of intra-group trade, coupled with large imbalances in trade between Eastern Europe and the former Soviet Union. The observed...

Services play a more important role in trade and employment in the United Kingdom than in most other OECD countries. The UK services sector is supported by an open and transparent trade regime, policies that support competition and innovation, and regulatory transparency that facilitates the...

This paper considers the first year of German monetary, economic, and social union, discussing the issue of the DM/east mark conversion rate; privatization and property rights; the supply and demand for reconstruction services; and a difference in conceptions of distributive justice held by East...

In this paper the impact of national borders on international trade within the European Union is considered. Using a gravity model, I find that, averaged over all EU countries, intranational trade is about ten times as high as international trade with an EU partner country of similar size and...

The paper empirically analyzes asymmetries in the EMS with special reference to their implication for the creation of a monetary union (EMU). Two types of asymmetries are analyzed: those in the form of "German dominance" are detected in the conduct of monetary policies in the EMS, in particular...

The diffusion of spillovers in the EU regions has often been discussed in recent years. Many studies have dealt with the issue of convergence and divergence. However, the theoretical explanation of spillovers and the effects of the integration on regional interaction have usually been neglected....

The paper analyzes the role of a multilateral payments union (PU) between East European countries (EEPU) as an intermediate solution in the process to full convertibility. After a description of the main functions of a PU, which is based on the historical model of the European Payments Union, it...

This paper aims to assess the economic development and development policies in the Central and Eastern European (CEE) countries in 1990-2005, from the collapse of the USSR to the enlargement of the European Union. A great number of authors have generally seen the transition as a very positive...

The capacity of the EMU system to successfully tackle an economic crisis has been questioned during the recent financial and economic turmoil. The basic economic structure and competitiveness in the eurozone has developed in an undesirable direction. The number of member countries of the EMU, as...

An aggregate production function is estimated using recent cointegrating techniques particularly appropriate for estimating long-run relationships. The empirical results suggest that the growth of output in France has been spurred by increased trade integration within the European Community and...