This paper – using an estimation of an econometric model with panel data – investigates the determining factors in bilateral direct investment flows between OECD countries (except for the more recently-incorporated former communist countries of Central and Eastern Europe, or CEECs) over the...

Eastern Europe is engaged in a massive programme of financial reform. This paper argues that while this programme has many desirable features, it has failed to address some of the most basic issues. These concern the relationship between the financial system and the enterprise sector, and the...

This paper examines the relationship between raw materials prices and economic growth through two channels, the terms of trade (ToT) and energy efficiency (EF), in three emerging Pacific Rim economies, Russia, Indonesia and Malaysia. We demonstrate positive relationships between changes in...

Why do sudden and massive social, economic, and political changes occur when and where they do? Are there institutional preconditions that encourage such changes when present and discourage such changes when absent? I employ a general model which suggests that cascades which induce massive...

We employ high frequency data to study extreme price changes (i.e., price jumps) in the Prague, Warsaw, Budapest, and Frankfurt stock market indexes from June 2003 to December 2010. We use the price jump index and normalized returns to analyze the distribution of extreme returns. The comparison...

This paper estimates the impact of inter-sectoral linkages on productivity at the sectoral level. An exhaustive Chinese panel data set for capital, infrastructure and a sectoral agglomeration index is linked with an economic distance matrix derived from inter-sectoral transactions. The latter...

Since the beginning of the political transformation in Poland, it's been more than twenty years, however, the situation on the labor market in rural areas is not the best. Deteriorating statistics on the labor market in Poland, manifested by high unemployment and a growing number of people in...

Since 1991, Colombia has had a market-determined Peso–US Dollar Nominal Exchange Rate (NER), after more than 20 years of controlled and multiple exchange rates. The behaviour (revaluation / devaluation) of the NER is constantly reported in the news, editorials, and op-eds of the major...

German Social Democracy is facing tremendous challenges of societal and economic changes: party dealignment, a bourgeoisification of society, the rise of media democracy, and economic and cultural globalisation. The party's reaction - a third order change in its ideological objectives and a...

An overall picture of the contemporary condition of the economic science in Bulgaria is outlined, resulting from its internal changes during the last twelve years. The analysis is carried out in five main directions - redefinition of the subject, principal theoretic and methodological...