In this paper we introduce capital transport cost in an unidimensional unbounded economy described by a spatial Solow model with capital-induced labor migration. Proceeding with a linear stability analysis of its spatially homogeneous equilibrium solution, we show that exists a critical value...

The present analysis has been inspired by the book entitled The Quality Assurance in Higher Education in the Central and East-European Countries – Agenda Ahead, edited by Jan KOHOUTEK, UNESCO-CEPES, Studies on Higher Education, Bucharest, 2009, presenting the outcome of the Research Plan...

Drawing on the lessons from the global financial crisis and especially from its impact on the banking systems of Eastern Europe, the paper proposes a new practical approach to macroprudential stress testing. The proposed approach incorporates: (i) macroeconomic stress scenarios generated from...

Following the liberalization of financial markets, Goldstein and Razin (2006) show that there is an information based trade-off between foreign direct investment and foreign portfolio investment, our paper examines the causality relations between foreign direct investment and volatility of...

This paper presents evidence on the behavior of output and inflation in the transition economies during 1992-95. A regression analysis explores the differences in output performance across the transition economies during this period. The paper then engages in a numerical, somewhat speculative,...