European Union countries recorded growth rates differ. Therefore, the European policy of regional development aimed at ensuring heterogeneously and achieve the objective of convergence at European level must take into account the steps taken by each country, especially in if new countries...

A unique feature of the financial crisis is the unprecedented collapse in global world trade. The objective of this paper is to explain some of that collapse as a move toward protectionism triggered not by nationalistic interests but by ‘competing’ objectives among trading partners from the...

It is often claimed that what is popularly known as the "flying geese paradigm" of dynamic comparative advantage has accurately depicted the East Asian catching-up process. This paper presents a critical study of the paradigm, as well as its application to the current situation in East Asia...

Today, more than 50 years after the Rome Treaty, the EU has made great strides in its’ economic integration and liberalization of movement of goods and people. International trade theory predicts deepening economic integration inside the European Union will increase regional trade and have...

This article provides an overview of major theoretical concepts behind the process of European economic integration. At first, the classic theory of customs unions as formulated by Viner, Meade and others is explained taking also into account factor mobility in a customs union in the move...

This paper reviews the literature on the labour market institutions in European Union Member States in the context of monetary integration. Traditionally, labour markets are a key concept in the optimal currency area theory, playing the role of the only accommodation mechanism of asymmetric...

While developing countries as a group did better than developed countries in 2008-09 recession, transition economies – former communist countries – experienced the largest reduction of output. Out of 42 countries that experienced negative growth in 2007-09, 13 were transition economies. In...

The paper deals with changes in the competitiveness of 12 countries forming the euro area in 1999-2000. These changes are analyzed using various macroeconomic indicators (real exchange rate, trade ratios, labor market and economic output performance). Due to the different levels of development...

The Greek parliamentary elections in January .2015 led to a foreseeable change in government. The coalition government between the conservative Nea Dimokratia and of the socialist PASOK, become replaced. by a coalition government between the left wing coalition party SYRIZA and the extreme...

The global financial and economic crisis revealed institutional weaknesses and structural problems of particular Economic and Monetary Union (EMU) countries. The crisis and slowdown that followed had an impact on their relative competitiveness. Financial and economic turbulences of recent years...