This paper analyses empirically the danger of a Dutch Disease Effect in tourism-dependent countries in the long run. Data on 134 countries of the world over the period 1970-2007 is used. In a first step the long-run relationship between tourism and economic growth is analysed in a cross-country...

This study provides an overview of the most important economic and trade policy impacts of high oil prices in the European Union. The potential reasons for recent oil price increases are briefly discussed, followed by a review of the macroeconomic effects of higher oil prices, namely on growth,...

This study computes estimates of tax compliance in selected European countries for value added tax, excise tax, personal income tax and social security contributions, using national accounts data together with data on official tax structures and revenues. These estimates are then analysed to...

The paper analyses the joint determinants of inequality and growth with a special emphasis on public spending structures in transition. The mutual benefit of low real interest rates, to both equity and economic development is a major result of this paper. In terms of public spending items we...

In the wake of the ‘Arab Spring’ several observers compared the changes in the Middle East and North Africa (MENA) to the transition of the former communist countries in Central, East and Southeast Europe (CESEE) to parliamentary democracy and market economy starting two decades ago. Relying...

This paper provides an overview of longer-term structural developments in the new EU Member States from Central and Eastern Europe (NMS). It analyses structural changes in the NMS' economies and patterns of productivity catching-up both at macro level and within the individual industries. With...

The term BRICs puts under a common label the four largest fast growing emerging countries Brazil, Russia, India and China. The BRICs show many common features, such as big land size, large population, fast economic growth etc., but important differences as well, due to their different models of...

The collapse of communist regimes in Central and Eastern Europe marked a historical event for the countries on both sides of the iron curtain. Using the recently released EU KLEMS database on detailed sectoral growth and employment measures, we analyse the productivity performance in the period...

The Russian economy boomed in the period of rising energy prices. That period coincided roughly with the era of Vladimir Putin's presidency (2000-2008). The speed of Russia's catching-up was then even faster than that of the new EU member states from Central and Eastern Europe. Surging energy...