Even though the efforts to foster global economic governance have been a longstanding issue of global economic policies, their effectiveness has been questioned by the current crisis. The crisis has revealed many systemic issues that would require global solutions on the one hand, but on the...

With the accession of 10 new European Union member states in May 2004, much attention is being placed on the governance of European Community institutions. This article focuses specifically on discussions of European Central Bank (ECB) governance, particularly as regards the ECB?s amendment of...

As a consequence of the new regionalism a marked increase in the number of regional groupings can be observed which makes the preferential relations between states even more complicated and complex. One of such complex relationships, which did not come to being during the third wave of...

Future of the European Union and its future directions should be the most important subject of the European Studies, which combine studies of Economy, Political Science, International Relations and other disciplines to study the European Integration Process in its complexity. This applies...

The paper deals with questions connected with the present situation on the world oil market. First, we shortly focus on the context and the historical development of the prices of oil and the reactions of the market subjects. We discuss general factors on the oil market. And then we apply these...

The objective of this article is to provide a survey of basic facts about process of globalization. We can define globalization as the international economic integration through particular markets. Globalization is largely continual and objective process that began approximately in the middle of...

The paper deals with the monetary policy of the European Central Bank and its effects on economic development of the Czech economy and other new members of EU from the perspective of Post-Keynesian monetary economics. In the first part the basic principles of contemporary Post-Keynesian monetary...

The paper is the first part of a broader empirical study that considers the entry timing of accession economies into the eurozone and their exchange-rate regimes between the EU entry and prior to the eurozone entry. The presented empirical analysis is based on model simulations and on the...

This study is the second part of larger empirical work focused on the timing of European Monetary Union (EMU) accession and on the selection of a pre-accession exchange-rate regime. The tool of our empirical analysis used in both studies is a model simulation that benefits from a consistent...

The authors contend that the theory of optimum currency areas (OCA) provides a useful framework for discussions of monetary integration. The authors summarize the historical development of monetary integration and discuss possible future development. Theoretical issues, such as those raised in...