This paper examines the impact of financial risks on economic growth in the first 15 Member States of the European Union, considering 1995-2014 period and aims to lay down a new explanatory model of economic growth, based mainly on the behavioral reactivity of the financial disruptions mentioned...

Based on human capital theory, initiated by some representatives of the new school in Chicago in the second half of the twentieth century (Th. W. Schultz, G. Becker and G. Stigler), we see that there is a theoretical vein-slogan: "Man is the most precious wealth of a country," and if we...

This paper finds evidence of the trilemma for Bulgaria, suggesting that exchange rate stability, monetary independence and free capital mobility are binding and constrained. The policy combination of exchange rate stability and monetary independence has been prevalent. More exchange rate...

This paper examines the role of trade openness and foreign direct investment in relation to economic growth for Pakistan and Malaysia for the period 1980-2010. Johansen co-integration test is used to estimate the nature of relationship and Granger causality test is used to determine the...

Innovation is often considered to be a typical activity of the developed countries. If we put behind the leading excellence research institutions and the high educated specialists we can tell that innovation is, in the end, the attempt to create new or improved products or processes. The aim of...

The real convergence is a prerequisite for the long-term development of the EU member states, enhancing the effectiveness of monetary policy in the context of integration in the Economic and Monetary Union. Also, real convergence is a solid foundation for maintaining the nominal convergence...

Until few years ago, the economic growth was something perfect normal, part of an era marked by the transformation speed. Normality itself has been transformed and we currently are influenced by other rules, unknown yet, which should answer the question: “How do we return to the economic...

Worldwide, the role of the insurance industry has grown in importance. A world without insurance would be much less developed and much less stable. Furthermore, a large number of economic activities would not take place without a reliable insurance mechanism. Therefore, insurance is an important...

The paper addresses the issue of national and regional competitiveness in the context of socio-economic and financial crisis. Competitiveness is a complex concept which can be studied at both the firm and the local and national level.<br> Thus, in economic terms the competitiveness is most often...

This study examines the link between economic growth and foreign direct investment for Portugal. Using a panel data approach, the results show that there is convergence among Portugal and her trading partners. Our results also demonstrate that foreign direct investment and bilateral trade...