During the transition time in East Central Europe, a number of schools of thoughts clashed over the creation of a market economy and the role of the state. This study compares Slovenian, Czech, Hungarian and Russian external balance and factors of external vulnerabilities with Swedish, Danish...

This paper investigates the convergence in real Gross Domestic Product (GDP) growth focusing on the impact of financial crises (i.e. banking crises, currency crises and debt crises) and nominal exchange rate regimes (i.e. fixed, intermediate and flexible) on convergence. To that end, we compute...