The aim of this paper is to develop a comprehensive analysis of the shock therapy model of transition. As such the model requires an analysis of what I define as the primary elements: economic analysis, definition of a good society, speed, political structure, ideological structure and initial...

The aim of this paper is to develop a comprehensive analysis of the shock therapy model of transition. As such the model requires an analysis of what I define as the primary elements: economic analysis, definition of a good society, speed, political structure, ideological structure and initial...

In this paper, we employ a block structured near-vector autoregression in order to compare the reactions to euro area shocks in four new member states (Bulgaria, Hungary, Czech Republic and Romania) and in the old member states of the EU. The methodology adopted also allows us to study the...

Political turmoil and early elections in Bulgaria (by Rumen Dobrinsky; pp. 1-4) Keywords Bulgaria, elections Countries covered Bulgaria Topics Other A revival of industrial policy as a growth model for Russia? (by Peter Havlik; pp. 5-6) Keywords industrial policy, growth model Countries covered...

The European Union and the MENA countries fostering North-South economic integration (by Sándor Richter; pp. 1-5) Keywords North-South, economic integration Countries covered European Union, MENA Topics Labour, Migration and Income Distribution Europe's position in trade in knowledge-intensive...

A few reflections on fiscal and monetary policy in the euro area (by J. Pöschl; pp. 1-3) Keywords fiscal policy, monetary policy, euro area Countries covered EU Topics Macroeconomic Analysis and Policy; International Trade, Competitiveness and FDI Unit labour costs, exchange rates and responses...

A central goal that has eluded most countries in sub-Saharan Africa is to effectively manage their natural resources, develop diversified and prosperous economies, and as a result, improve the standard of living of their citizens. This paper draws from the framework of diversification and...

Unstable Balkans (by Vladimir Gligorov; pp. 1-4) Keywords political tensions, unemployment, austerity Countries covered SEE Topics Macroeconomic Analysis and Policy Not a very Greek tragedy (by Jan Toporowski; pp. 5-7) Keywords public debt, financial market, monetary policy, currency union...

We examine the tax-growth nexus in Zimbabwe using parametric and non-parametric analysis. We use a two-stage estimation procedure that first generates efficiency scores for the country using a Data Envelopment Approach. We use the efficiency scores in the second stage to normalise growth to get...

It was not possible to test the neoclassical convergence theory on communist countries until the collapse of communism. The method of beta convergence indicates divergence among the liberated countries of Southeast Europe from 1980-2006. A more advanced quantile regression also indicates...