Until recently, governments have measured economic progress by tallying such statistics as GDP, inflation and balance of payments. Today they agree that economic expansion should be socially and environmentally sustainable. Hence measuring progress towards sustainable development is essential to...

Peru has experienced remarkable socio-economic progress over the last two decades, enabling it to join the group of upper middle-income countries around 2010. However, challenges are ahead if the country is not to be caught in various development traps. Overcoming these challenges in the near...

Since the launch of the Ðổi Mới economic reforms in 1986, Viet Nam has achieved tremendous economic and social progress. Today, it is well integrated on global markets, has enjoyed robust growth, and has seen remarkable poverty reduction. With its recent successful fiscal consolidation, its...

European Monetary Union (EMU) and its enlargement to prospective members in central and eastern Europe is a politically highly desired process, given that everything works out smoothly. The future eurozone will show a much higher degree of heterogeneity than now. The CEEC are in the process of...

Once part of the European Union no "opt-out" means, for CEE applicant countries, that they will have to become members of the Eurozone as soon as they fulfil the Maastricht criteria. However, compliance with the Stability and Growth Pact and aiming at nominal and real convergence imply efforts...

Capital markets have undergone massive changes in the past decade; in Western Europe but of course more fundamentally in the Central and Eastern European Countries (CEEC). The euro has fostered the transformation of financial systems toward a more market based approach. Its impact in Eastern Europe...

Eastward enlargement is one of the hot topics in European economics. The accession of central and eastern European Countries (CEEC) into the European Union (EU) is accompanied by an extension of the eurozone to this region. This paper surveys likely outcomes and challenges of this specific...