The COVID-19 crisis has hit Italy severely: by mid-2020, GDP had returned to the level observed in 1993. This is the result not only of its sharp collapse in the first half of 2020, but also of its weak growth since the 1990s. Addressing the problems that have restrained the economy for 30 years...

Perhaps no question has attracted as much attention in the economics literature as “Why are some countries richer than others?� In this article, the author revisits the “development problem� and provides some estimates of the importance of human capital in accounting...

Obtaining reliable data on capital is a recurring challenge when estimating economy-wide productivity growth, especially for developing countries. In this paper I construct energy-based productivity series which use energy consumption instead of capital when making such estimates. I first show...

The general policy prescription for resource-rich countries is that, for sustainable consumption, a greater percentage of the windfall from resource rents should be channelled into accumulating foreign assets such as a sovereign public fund as done in Norway and other developed but resource-rich...

The employment of financial development indicators without due consideration to country/regional specific financial development realities remains an issue of substantial policy relevance. Financial depth in the perspective of money supply is not equal to liquid liabilities in every development...

Eastern Europe is one of the fastest growing transition economies of the world. The post-socialist countries of Central and Eastern Europe, especially the Czech Republic, Hungary and Poland, continue to undergo a radical economic reform program via microeconomic liberalization, macroeconomic...

The financial and economic crisis brings to a reconsideration of macroeconomics: as it happened in the past, after the Great Crash of 1929 as well as after the Second World War and after the collapse of the Bretton Woods system in 1971 and the subsequent oil crisis. A brief critical survey of...

This paper advances an argument about the need to take into account two components of state-industry relations if we are to fully understand economic development and policy trajectory, as well as industry-state co-evolution. The first component, the specific structure of the bureaucracy and...

Radical changes in macroeconomic policy could produce a brighter future. The neoclassical myth that a free-market economy inevitably moves to an equilibrium position determined solely by supply-side factors must be rejected and replaced by the insight that the position of an economy in the...

During last 10 years some EU countries had economical instability. They have short and long term challenges such as unemployment, population ageing, globalization etc. In this study it is aimed to analyze macroeconomic indicators of EU countries' economic growth using panel data approach. Static...