The principal focus in the substantial literature on impediments to economic development has been on the inadequacies of policies and governance. However, successful economic development requires effectiveness of markets and incentives for investment, which in turn require trust. This paper...

On November 2, 1999, Montenegro began a major currency reform leading to the introduction of the German mark as the legal tender. This and the subsequent liberalization of Montenegro's monetary – exchange and trade regimes led to the introduction of the euro in 2002. But there is very limited,...

This paper provides an analysis of the export potential and export diversification of Montenegro using the export-product space approach pioneered by Hausmann, Hwang, and Rodrik (2007), Hausmann and Klinger (2006), and Hidalgo, et. al. (2007). Based on this analysis as well as a review of...

The principal focus in the substantial literature on impediments to economic development has been on the inadequacies of policies and governance. However, successful economic development requires effectiveness of markets and incentives for investment, which in turn require trust. This paper...