This paper offers a review of the current position of developing countries in the climate regime and international negotiations based primarily on the analysis of implementation of Clean Development Mechanism (CDM). The paper will place emphasis on changes in national policies to accommodate CDM...

This paper uses firm level panel data to investigate empirically the effects of foreign direct investment (FDI) on the productivity performance of domestic firms in three emerging economies of Central and Eastern Europe-Bulgaria, Romania and Poland. To this end, a unique firm level panel data...

The overly accommodating monetary policy is often accused of creating surplus liquidity and bubbles on the asset markets. In particular, it could have contributed to strong capital inflows in emerging countries, which may have had a significant impact on financial stability in these countries,...

Over the last decade, a growing number of emerging countries has adopted inflation targeting as monetary policy framework. In a recent paper, Freedman and Laxton (2009) ask the question “Why Inflation Targeting?”. This paper empirically investigates this question by analyzing a large set of...