In this paper, I discuss whether enlargement has been a successful external policy of the European Union (EU). In particular, I evaluate the policy’s success based on its effects on the policies candidate countries have pursued. I argue that the prospect of entering the European Union has...

The rules of the Eurozone cause the euro to function as the gold standard. The US economy performs better in some respects, partly because of the advantages of fiat money. The treaty on the EMU has to be adapted in order not to become dependent upon current ad hoc measures, with the loss of...

Exchange rate unexpected fluctuations determine economic development of countries the way quite similar to any other type of exogenous shocks. Unpredicted volatility in exchange rate short-run path affects macroeconomic performance the way that may be a subject of academic as well as economic...

Air and sea passenger transport were generally considered as serving different market segments with little competition between them. Recent research has however shown that the existence of a deregulated operating framework can lead to improved competition between the two modes. This article aims...

When, in the mid-2000s, large parts of the global South experienced an impressive economic boom, the idea that a number of emerging market economies were “decoupling” from the industrialized economies in the North gained considerable prominence. The financial and economic crisis that...

The welfare state was created after 1950 with counterproductive mechanisms and this caused high inflation and high unemployment and stagnating growth by 1970, called stagflation. Since 1970 governments redressed the welfare state but did not succeed in finding workable mechanisms. They rather...

Several studies have been made about the present global financial crisis that has affected real economy as well. We know the root causes and its consequences. However we found a sector that has not been examined comprehensively in inland studies on the ground of changing environment. It is worth...