This paper examines driving forces of economic growth in the second transition decade, by testing which determinants from the first decade remain dominant, and which new factors appear in explaining growth. To this end a panel simultaneous equation model is estimated based on a sample of 27...

This paper reviews current knowledge about the impact of vocational education and training on the labour market outcomes for young people in advanced market economies, and asks whether the results can be extrapolated to countries in the Western Balkans and the EU neighbourhood. It draws four...

All forecasts for transition countries – the 29 EBRD countries of operation – since mid-2008 have been repeatedly downgraded. The latest forecasts (May 2009) envisage an average income decline of 5 per cent in 2009 and only a small recovery of 1.4 per cent in 2010; performance is very diverse.In...

The objective of this paper is to investigate the existence of the Feldstein and Horioka puzzle in transition countries, divided into three groups of countries: South-East Europe (SEE), Central and Eastern Europe (CEE), and the Commonwealth of Independent States (CIS). Central to this puzzle is...