We discuss past performance and future challenges for the countries of Central and Eastern Europe (CEE). We highlight the successful convergence process of those countries, not least thanks to their integration into European and global value chains. As the external environment changes, so...

Theoretical models of growth reveal that either exogenous or endogenous, technology is the main driving force behind the long-run economic growth. Furthermore, in the endogenous growth framework, diffusion of technology is the basic mechanism of per capita income convergence among countries....

This study investigates the role of India's economy in explaining the observed growth in South Asia, taking into consideration other sources of growth endogenous to the countries in the region. Since a review of key variables indicates that India's bilateral trade and financial linkages with...

China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon. However, in order to...

The paper examines the effect of economic growth on employment in Nigeria’s services sector during the period from 1991 to 2020. The ARDL approach to cointegration and error correction modeling is employed for the analysis. The study finds that economic growth spurs employment generation in...

Global value chains offer countries unique opportunities to participate in and benefit from international trade by specializing in specific production stages and tasks. The objective of this study is twofold: (i) to investigate the evolution of African countries participation in global value...

The study reveals that there is a relationship between foreign direct investments, trade, and growth rate of per capita GDP for Bangladesh with the help of annual time series data for 1973 to 2014. The Vector Error Correction Model (VECM) analysis shows that there is a long-term relationship...

This paper elaborates the economic impacts of the foreign direct investments (FDI) on the case of Macedonian economy. Most developing countries consider FDI a vital source for their development. Anyway, it is quite difficult to measure the economic effects of FDI over the host country, having in...

Before the outbreak of the coronavirus (COVID-19) pandemic, discussions were already taking place on how to complete Economic and Monetary Union (EMU) and increase its resilience, inter alia, by speeding up economic convergence. The impact of the current unprecedented crisis on the euro area...

This paper analyzes the impact of the German structure program "Joint Task for the Improvement of Regional Economic Structures" (GRW) on regional economic growth. The paper extends the existing literature by several aspects. First of all, using the popular augmented Solow model by Mankiw et al....