This study attempts to address the causal-order between inward FDI and economic growth using a panel data set for two different Economic Associations that is EU (European Union) and ASEAN (Association of South Eastern Asian Nations) over the period 1970-2003. The inflows of FDI to developed host...

This paper extends the open-economy loanable funds model to Greece and finds that a higher government debt/GDP ratio, a higher real short-term rate, a higher percent change in real GDP, a higher expected inflation rate, a higher EU government bond yield, or a higher nominal effective exchange...

This paper evaluates potential economic impacts of incorporating Romania into EU’s Common Agricultural Policy. A CGE model of Romania is employed to model likely changes in trade, production and welfare patterns with a focus on fifteen local agro-food activities. Three main findings emerge....

A lack of economic convergence among euro member countries seems to be feeding euro-skepticism. Using a Structural Vector Auto Regression model combined with a time varying correlation analysis, we attempt to test the endogeneity theory for the three core euro members, i.e., France, Germany, and...

Recent research has emphasised the role of trade in productivity growth. The purpose of the present paper is to investigate how regional integration, and the different treatment of member and non-member imports, affects the relation between imports and productivity growth. We focus on the...

This paper empirically determines the main factors influencing trade flows between the European Union and the transition economies of Central and Eastern Europe. The analysis relies on the estimation of gravity-type equations for both exports and imports. Besides the basic variables that are...

The EU’s cohesion policy should now be confluent with the goals of the Lisbon strategy by promoting growth and employment. In this context the promotion of regional innovation systems has become important in the EU for guaranteeing long-term regional economic growth. This paper investigates...

We use the investments of Chinese and Indian MNCs in Europe to test the hypothesis that the main motivation of the Southern MNCs for investing in the Northern countries is asset- or technology- seeking. After showing that the previous work has not adequately tested this hypothesis due to its use...

Cluster analysis methods allow for a comparative study of countries through basic macroeconomic indicator fluctuations. Statistical distances between 15 EU countries are first calculated for various moving time windows. The decrease in time of the mean statistical distance is observed through...

The paper analyses the process of real convergence of the New Member States of the European Union. Its importance is underlined in connection with a successful catching-up and a special attention is paid to the countries involved in the fifth European enlargement, with the exception of Cyprus...