In this paper we develop a two-country dynamic general equilibrium model by means of which we seek to explain the long-run paths of a converging emerging market economy. We borrow a paradigm from the New Open Economy Macroeconomics literature and amend it to address specific features such as...

Este artículo confirma que a lo largo del periodo 1990-2005 no existe evidencia de convergencia de los niveles de renta per cápita entre los países del Subsistema de Integración Económica Centroamericana. Se han realizado diversos contrastes de convergencia beta, sigma y gamma, y en ninguno...

For FDI to help stimulate economic growth and alleviate poverty in developing countries, two conditions have to be met. The first requirement is to improve developing countries' attractiveness to foreign investors. Second, the host-country environment in which foreign investors operate must be...

Melitz’s dynamic model of export participation is the basis of our empirical specification that accounts for a wide range of internal and external factors affecting the export behaviour of small and medium-sized enterprises (SMEs) in Transition Countries (TCs). Using firm-level data, our...

We investigate the finance-growth nexus for a sample of thirteen transition economies over the period 1995–2007 using panel cointegration tests and a panel error-correction model. By combining results for models with alternative dependent variables and several measures of financial...

Our article highlights that there is an interrelationship between the competitive strategy of the retailer, the core competencies, the direction of internationalization, and the extent and nature of adjustment. The strategy defines the core competencies and business model that the retailer...

The main purpose of this paper is to evaluate the impact of different types of income comparison on subjective well-being in transition countries and developed European countries. The paper relies on the Life in Transition Survey (European Bank for Reconstruction and Development <CitationRef CitationID="CR8">2011</CitationRef>), which was...</citationref>

This paper investigates the short to medium-term empirical relationships between the current account balances and a broad set of macroeconomic determinants in Serbia and selected CEE countries. Using novel model averaging techniques we focus the analysis to individual country’s data only. The...