The majority of economies in the European Union are experiencing problems with the sustainability of pension systems that are primarily caused by unfavorable demographic trends and inadequate structure of the pension systems. This research concentrates on the New Member States of the European...

Since the Lisbon agenda in 2000, Europe stated the goal to become the most advanced knowledge economy in the world relying specifically on the increase and strengthen of its human capital and technological endowments. However, given the presence of localized externalities in the knowledge...