In this paper, we present the root cause of the American financial crisis in 2007. We show that financial integration and capital flow volatility is the factor that creates a climate conducive to the emergence of the crisis in the USA and led to its spread to the rest of the world. On the...

The aim of this paper is to assess whether the impacts of real exchange rate undervaluation and domestic technological capabilities on growth are stable across development levels. On the one hand, a real exchange undervaluation measure is constructed based on the purchasing-power-parity theory...

The aim of this paper is to analyze the relationship between institutions, income distribution and growth in post-Keynesian tradition. Therefore, we developed a model that seeks to illustrate the way in which income distribution affects economic growth. Furthermore, we aim to show that the...

In this note we study the distortions in an endogenous growth model developed by Grimaud and Tournemaine (2007), where new pieces of knowledge are produced in a R&D sector and used to reduce pollution emissions. Using this model along with a realistic calibration, we conclude that the economy...

The paper presents an analysis of real income convergence between the 11 countries of Central Eastern Europe which have joined the European Union (EU11) and 15 countries of Western Europe (EU15) in the period 1993-2015. The evolution of the income gap between the two groups of countries in terms...

The main goal of this article is to find the relationship between public fiscal policy and economic growth. The article consist of a few parts. The first is an introduction, which creates the background for the analysis in the following sections. It shows the main point of view on public fiscal...

The aim of this chapter is to assess changes in the competitiveness of the Polish economy from 2010 to 2015. The analysis covers the basic indicators of economic development, such as GDP growth, inflation, unemployment, balance of public finances, and current account balance. Poland’s economic...

The chapter intends to assess income convergence among the 11 Central and Eastern European (CEE) countries that joined the EU in 2004, 2007, and 2013: Poland, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Romania, Slovakia, and Slovenia (EU11). Convergence in these...

The chapter includes the analysis of total factor productivity (TFP) for 11 CEE countries, referred to as the EU11 (Poland, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Romania, Slovakia, and Slovenia) during the 2006–2015 period. To assess changes in total...

This chapter seeks to assess the main thrusts of Polish economic policy from 2007 to 2015, a period when the governing coalition of the Civic Platform (PO) and the Polish People’s Party (PSL) was in power, with a focus on measures designed to boost growth and streamline the country’s public...