This paper explores the relationship between the quarterly values of the Romanian exports and of the Gross Domestic Product for the period 2007-2014, which was marked by the consequences of the adhesion to European Union and by the global crisis. In this analysis we employ cointegration tests,...

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...

Even before the financial crisis of 2007/08, there were significant questions about Europe's long-term growth prospects. After a long period of catching up with US levels of labour productivity, euro area productivity growth had, from the mid-1990s onwards, fallen significantly behind. Using...

Even before the financial crisis of 2007/08, there were significant questions about Europe's long-term growth prospects. After a long period of catching up with US levels of labour productivity, euro area productivity growth had, from the mid-1990s onwards, fallen significantly behind. Using...

The European Union must identify and internalize the most acute challenges, prepare appropriate solutions to them, capitalize on its strengths, and avoid threats. The strategic philosophy can no longer be just rhetorical but must be found at the level of all European sectoral policies, national...

In this paper we explore convergence of real per capita output across the European Union (EU) countries as well as the transitional behaviour of possible underlying factors that are responsible for any convergence or divergence pattern. The new panel convergence methodology developed by Phillips...

The study examines the relationship between the regulatory variables and economic growth on the basis of Bayesian model pooling applied to Blundell and Bond’s GMM system estimator. The areas of regulations (institutions) are measured by the following indicators: index of economic freedom,...

The purpose of this paper is to estimate the effect of durable goods and ICT on Euro Area economic growth and productivity change; when expenditure on consumer durables is recorded as capital investment. The capitalization of consumer durables impacts both the levels and growth rates of the...

We investigate the role rates of return and rates of asset price decline play in explaining sources of productivity growth in the context of a growth accounting approach. Our analysis is based on data from the EU KLEMS database for seven countries in the period of 1990 - 2007. We introduce a...