We compare the convergence with German monetary policy of the Balkan and Mediterranean country candidates for EU membership with that of countries that have recently joined the EU. Significant linkages exist between German base money stock and that of recent members of the EU; the same holds...

We compare the convergence with German monetary policy of the Balkan and Mediterranean country candidates for EU membership with that of countries that have recently joined the EU. Significant linkages exist between German base money stock and that of recent members of the EU; the same holds...

Financial integration challenges in ASEAN beyond 2015 can be grouped into two broad classes. The first classes of challenges are the regulatory and infrastructure challenges of financial market integration itself. The second pertains to monetary and fiscal policy regimes and how they are...

A collection of the papers and digests on the issues related to regional economic and political integration, primarily in the post-Soviet space. An annual publication of the Eurasian Development Bank edited by Evgeny Vinokurov, director of EDB Centre for Integration Studies.

حقّق مجلس التعاون للدول الخليجية العربية إنجازات ملحوظة منذ إطلاقه في عام 1981، ومبدئيّاً تطوّر من تعاون أمنيّ وعسكريّ إلى تكامل اقتصاديّ يتمثّل في وحدة جمركية...

Five years after its inception, the Gulf Cooperation Council (GCC) single market is malfunctioning in a litany of ways: there remain restrictions on the movement of goods, capital and labor across political boundaries. This paper describes the GCC single market’s malfunctions. We also propose...

Our objective in this paper is threefold. First, to identify the major common shocks that hit these countries upon entry into the EMU. Second, taking Greece as our case study, to construct a simple macroeconomic model of the policies Greek governments pursued in the presence of these shocks, and...

Which countries find it optimal to form an economic union? We emphasize the risk-sharing benefits of economic integration. Consider an endowment world economy model, where international financial markets are incomplete and contracts not enforceable. A union solves both frictions among member...

Which countries find it optimal to form an economic union? We emphasize the risk-sharing benefits of economic integration. Consider an endowment world economy model, where international financial markets are incomplete and contracts not enforceable. A union solves both frictions among member...

Since the end of the Second World War, economic integration has been regarded as being one of the most important global economic policies. Its relevance has not diminished and most countries, especially those that are developing, consider it to be a long-term strategy. Integration is present in...