The aim of this study is to evaluate the economic feasibility and implications of free trade agreement between the EU and Armenia as well as of greater regional integration between Georgia, Armenia and the Black Sea countries. The study uses a mix of qualitative and quantitative analysis along...

The aim of this study is to evaluate the economic feasibility and implications of free trade agreement between the EU and Georgia as well as of greater regional integration. The study uses a mix of qualitative and quantitative analysis along with surveys, sectoral studies and local expert...

Fedelino and Hemming analyse different choices of fiscal indicators and targets that are better suited to promoting and safeguarding public investment. After having documented the decline in public investment as a share of GDP in many countries over the last two decades, they note that the...

In this paper, Ter-Minassian and Fedelino assess the impact of the 2008-09 global financial crisis on sub-national government (SNG) finances. The crisis affected sub-national budgets both directly (via the decline in own revenues and upward pressure on cyclically-sensitive spending programs) and...