The aim of this paper is to assess the short term effects of social spending on economic activity. Using a panel of OECD countries from 1980 to 2005, the results show that social spending has expansionary effects on GDP. In particular, we find that an increase of 1% of social spending increases...

The reorientation occurred in the socioeconomic, politic and institutional development of the Latin American and Caribbean countries, since 80's decade, provoke significant transformations in the regional rural spaces. The socioeconomic bipolarization is one of the most remarkable phenomena in...

The development of the vocational training policy constitutes one of the most interesting examples of a policy which was introduced entirely due to the pressure exercised by the E.U., but it was implemented in such a way that it served the domestic political economy. The seven laws and the...

In October 2008 the main Hungarian public finance actors: the government, the National Bank of Hungary (MNB) and experts cited the high public debt and volume of unsecured foreign-currency loans as the main reasons for the economy’s vulnerability. On the other hand according to the formal...

Economic policy uncertainty is now widely accepted as one of the leading factors responsible for the global sluggish recovery. Measurement of these uncertainties is a crucial task for recent disccussions on the effects of policy uncertainty on the economic and financial variables. While indices...

The severe crisis that affected the European Monetary Union has emphasized the prevailing interests of national governments and a lack of political leadership of the European institution , while the governance of the euro area has been incapable of an effective crisis management. The present...

The objective of this study is to estimate an empirical model using pooled data for five industrialized countries to assess the impact of the coordination between monetary and fiscal policies on macroeconomic targets. Those countries are characterized with the existence of the institutional...

The new architecture of the international monetary-financial system is determined by the evolution of the economics, socials, culture and contemporary policies. The reorganization of the monetary-financial system’s institutional and functional formulas is not possible against trimming the...

The paper discusses the structural changes taking place in the financial system of the Republic of Croatia after the country became independent. Particular attention is given to the banking system, bankruptcies and rehabilitation of banks. Furthermore, the paper analyzes the development of...

European Union countries recorded growth rates differ. Therefore, the European policy of regional development aimed at ensuring heterogeneously and achieve the objective of convergence at European level must take into account the steps taken by each country, especially in if new countries...