This paper empirically examines the possible causal relationship between financial development and economic growth in Serbia. In this regard, the focus is on the development of financial intermediation by banks, considering the fact that the banking sector plays an important role in Serbian...

We analyze the joint dynamics of religious beliefs, scientific progress and coalitional politics along both religious and economic lines. History offers many examples of the recurring tensions between science and organized religion, but as part of the paper’s motivating evidence we also...

We predict that GDP will grow 1.5 % in 2000 after falling 0.2 % in 1999. Sluggish growth in 2000 will be driven by domestic demand, namely fixed investment. Interest rates set by the CNB are now in a "parking zone". The two-week repo rate remains at 5.25 %. We do not expect any significant...

This essay is concerned with the long term period, i.e. what will happen after accession to the EU. For those long term analyses, it is practical to identify different phases after accession to the EU - the period before the anticipated participation in the ERM II, the period of participation in...

The paper contains an analysis of the current trends in the Czech economy, and a short-term outlook for 2000. The authors claim that the economy is going through a gradual turn from recession to stagnation and to a slight recovery. The main factors of the turn toward revival are exports,...

In this paper we discuss the issue of the choice of exchange rate regimes in transitive economies and the effect of exchange rate policy on the development of macroeconomic indicators (e. g. the average growth rate of real GDP in domestic currency, the development of domestic inflation and the...

Economic growth was higher than expected in 2000. While in 1999 the upturn of Czech economy was driven mainly by exports, in 2000 domestic demand have taken over the role of main pro-growth factor. Czech industry showed great progress in 2000: rapid growth was accompanied by ongoing...