In this paper the recent effect of the European Monetary Union on inward FDI-flows is examined. We use a difference-in-differences approach for both a gravity based- as well as a general equilibrium approach. The estimated results show that the introduction of the euro raises inward FDI by 14 to...

Der vorliegende Beitrag geht der Frage nach, in wie weit polit-ökonomische Ansätze den Prozess der Osterweiterung der Europäischen Union erklären können. Eine grundlegende These der Arbeit lautet wie folgt: Kritiker der Theorien rationaler Entscheidungen beziehen sich häufig auf eine sehr...

Exchange-rate policies of Central Eastern European Countries (CEEC) have often been a subject matter. Yet, some new insights in terms of political economy considerations upon exchange-rate policy are provided. It is pointed out that it is more appropriate to analyse exchange-rate policy in...

Once part of the European Union no 'opt-out' means, for CEE applicant countries, that they will have to become members of the Eurozone as soon as they fulfil the Maastricht criteria. However, compliance with the Stability and Growth Pact and aiming at nominal and real convergence imply efforts...

This paper explores offshoring of firms’ research and development functions. Our analysis employs a previously untapped and unique Eurostat International Sourcing Survey. The results are easy to summarize. First, the magnitude of R&D offshoring is small. Second, a large majority of R&D is...

This paper aims at the provision of applicable recommendations for institutions and actors involved regarding the EMU accession process both in CEE and in the euro-zone. In order to provide topical advice, the first part, on markets, will concentrate on theory and empirics of labour markets,...

Two types of currency crisis models coexist in the literature: first generation models view speculative attacks as being caused by economic fundamentals which are inconsistent with a given parity. Second generation models claim self-fulfilling speculation as the main source of a currency crisis....

Целью работы является разработка и калибровка пространственной гравитационной модели, описывающей внешнюю торговлю регионов Российской Федерации через...

The global financial crisis which erupted in the United States instantaneously swept across Europe. Like the United States, the European Monetary Union (EMU) was ripe for a crash. It had its own real estate bubble, specifically in Ireland and Spain, indulged in excessive deficit spending,...

The paper evaluates the different effects of European integration on Spanish industry. Up to the present time foreign industrial trade has increased noticeably, rapidly reaching the level of the other European countries. This has been highly beneficial to the Spanish economy, involving intense...