Higher education is in the position to save Europe by rendering a substantial contribution to sustainable economic growth. For that purpose higher education must strengthen its innovative power in entrepreneurship education and by focusing research more on societal problems, while being better...

The establishment of competitive markets has been one of the cornerstones Hungarian economic policy over the past decade, alongside a successful strategy of attracting foreign investment. Broad statistical measures show no signs of endemically weak domestic competition, though the country’s...

We investigate country heterogeneity in cross-country growth regressions. In contrast to the previous literature that focuses on low-income countries, this study also highlights growth determinants in high-income (OECD) countries. We introduce Iterative Bayesian Model Averaging (IBMA) to address...

The article discusses the economic growth models in post-Communist countries of European Union and Eastern Partnership states. According to the combinatorial augmentation concept, there are new combinations for which the resources for old combinations are practically useless as they require the...

The failure of the neoclassical growth model to account for differences in output per worker across countries has suggested that these differences should be driven by cross-country differences in total factor productivity (TFP). This paper discusses various measures of productivity and its...

Can we associate globalization with converging productivity levels of different countries? Are the developing countries catching up? This paper provides answers to these questions by studying unconditional beta-convergence and sigma-convergence of labor productivity with the Penn World Table 9.1...

This paper investigates the effect of product market regulations on the international diffusion of productivity shocks. The empirical results indicate that restrictive product market regulations slow the process of adjustment through which best practice production techniques diffuse across...

This paper investigates the effect of product market regulations on the international diffusion of productivity shocks. The empirical results indicate that restrictive product market regulations slow the process of adjustment through which best practice production techniques diffuse across...