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The services sector is increasingly important for the euro area economy, but productivity growth in the sector has stalled over the past two decades. Remaining barriers to cross-border trade in services within the EU Single Market contribute to this weak performance. Our empirical analysis...
Persistent link: https://www.econbiz.de/10012154992
This paper analyzes the factors behind the recent growth of India''s services sector. The high growth of services output in the 1990s was mostly due to the rapid expansion of communication, banking, business services (including the IT sector) and community services. While factors such as a high...
Persistent link: https://www.econbiz.de/10014404160
the General Agreements on Trade in Services (GATS). It provides an overview of the main features of the GATS and what the … participants in banking and securities within its framework, and compares GATS liberalization with the actual state of … emerging markets liberalized little under the GATS despite often well-developed financial markets, while the opposite was true …
Persistent link: https://www.econbiz.de/10014403355
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This paper presents a detailed account of the rich set of macroprudential measures taken in four Southeastern European countries-Bulgaria, Croatia, Romania, and Serbia-during their synchronized boom and bust cycles in 2003-12, and assesses their effectiveness. We find that only strong measures...
Persistent link: https://www.econbiz.de/10011432410
In this paper we analyze how Western Balkans public finances adapted to the boom-bust cycle. Large capital inflows into emerging European economies during the mid-2000s resulted in rapid economic growth and convergence to EU income levels. This also resulted in improved fiscal positions of most...
Persistent link: https://www.econbiz.de/10011373909
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Emerging Europe has undergone a major economic transformation over the past 25 years. Most countries experienced initial drops in output during transition, followed by recovery in the second half of the 1990s. The path of transition in the Western Balkans has however been particularly uneven....
Persistent link: https://www.econbiz.de/10011434920
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