During this period marked by the effects of the current economic crisis, the structural funds play most important role in regional development. Each country of the Union, especially those in development they wish to reach the level of the developed world, so you must access the funds in order to...

The literature on growth theory is rich with models attempting to explain growth differences among countries. Several variables have been proposed many of which were found to be positively related to growth. However, a major problem with these models is that the factors explaining growth are...

The global financial crisis which emerged in developed countries has spread to the developing world. Forecasts of growth in developing countries have been downgraded a lot and questions remain as to how profound, for how long these problems will broaden which countries will be affected more than...

In recent times people have been speaking more often about the global economic and financial crisis and the effects it has on the economies of the world’s states. Countries with strong economies such as the USA, Japan or the developed countries in Europe have suffered from the global crisis,...

The development policy promoted by the European Union is a policy of social and economic cohesion, based mainly on active development measures. Political and financial support granted by the European Union aims at achieving a higher level of development capable of delivering economic and social...

The regional development policy is one of the most important policies and one of the most complex in the EU, as its status is derived from its goal of reducing the economic and social gaps existing between different regions of Europe and it influences different domains that are important for...

To achieve the objectives of regional development, local collectivities must have financial resources. These resources come mainly from local taxes, from the revenues of their own activities, are thus, directly proportional to the volume of economic activity in the territory. Therefore, for the...

This study examines whether the fiscal multiplier can be negative for certain types of government spending. The key result is that the fiscal multiplier can be negative if there is a high degree of substitutability between private and government consumption and government consumption is...

Between 1999 and the onset of the economic crisis in 2008 real exchange rates in Greece, Ireland, Italy, Portugal and Spain appreciated relative to the rest of the euro area. This divergence in competitiveness was reflected in the emergence of current account imbalances. Given that exchange rate...

We analyze the long-run growth effects of automation in the canonical overlapping generations framework. While automation implies constant returns to capital within this model class (even in the absence of technological progress), we show that it does not have the potential to lead to positive...