Current developments in Greece make clear that the rules of the European Stability and Growth Pact (SGP) were neither strict enough nor enforced strictly enough. To deal with the ongoing exit from the fiscal crisis and its related phenomena, we propose a new framework for fiscal policy...

The almost total collapse of the old trade relationships with the other republics of the former Soviet Union has meant serious problems for the breakaway Baltic states of Estonia, Latvia and Lithuania. What progress have these countries been able to make so far on their way towards a market...

In view of the close relationship between macro-economic performance, structural adjustment and international trade, the OECD Council established in 1979 a programme of work on Positive Adjustment Policies. Under this mandate, a Special Group of the Economic Policy Committee (under the...