The aim of the article is to compare 2008-2010 recessions in individual EU countries. For the comparison a new quantitative measure – recession magnitude scale – is used. The scale is derived from (negative) quarterly GDP growth rates during a recession and its duration. Moreover, recessions...

The broad objectives of the present study are to examine the impact of the global financial crisis as it folded during 2008 and 2009 on four major South Asian economies i.e., Pakistan, India, Bangladesh and Sri Lanka; identify policy actions taken to mitigate the adverse impacts of the crisis;...

The financial crisis has exposed the weaknesses in national and international economies, the disruption of the financial systems all over the world. The aim of this paper is to point out the importance of systemic risk management in the European Union (EU). Structured on two parts, the study...

The aim of this short paper is to discuss the future of the European Monetary Union (EMU) departing from the current financial crisis. In particular, we focus on its effects on the prospects for the EMU integration or disintegration.

The paper focuses on empirical analysis of major factors that determine innovation activities of Russian manufacturing firms during the crisis. We presume that the crisis has ambiguous effects on firms' behaviour, on one hand limiting their financial capabilities to invest into new products...

The paper evaluates the present and future international currency status of the US dollar, the euro and the yen. In section two the functions, benefits, and costs of a leading international currency are discussed. In section three key determinants for the continuous dominance of the US dollar...

Our study analyses the extent of integration of the EU market for life and non-life insurance. The main integration indicator used is the market share (premium based) of foreign companies in domestic markets. For the calculation of this indicator, three different kinds of foreign presence are...

The integration process in the European banking sector considerably differs with regard to product types. Deep integration can be observed in the money market as well as the market for wholesale products. In contrast to that, a strong segmentation of national markets still exists in the field of...

Variations between the diverse pension systems in the member states of the European Union hamper labour market mobility, across country borders but also within the countries of the European Union. From a macroeconomic perspective, and in the light of demographic pressure, this paper argues that...

The aim of this paper is to investigate the role of Jacobian externalities stemmed from different technological sectors for international firms engaged both in environmental and in dirty activities. Firms' innovation, measured, as the development of new patents, is a key factor behind the...