Many governments offer significant inducements to attract inward investment, motivated by the expectation of spillover benefits. Foreign direct investment (FDI) is generally perceived as the best channel for technology transfer, not only across national boundaries but also between firms - in...

Mit der 2004 eingeleiteten fünften und größten Erweiterung der Europäischen Union ist die Zahl der Mitgliedstaaten auf 25 gestiegen. Diese Erweiterungsrunde wird mit dem bevorstehenden Beitritt Bulgariens und Rumäniens abgeschlossen. Wie ist die Aufnahme der mittel- und osteuropäischen...

This paper – based on a report by a Task Force established by the International Relations Committee (IRC) of the European System of Central Banks (ESCB) – reviews macroeconomic and financial stability challenges for acceding (Bulgaria and Romania) and candidate countries (Croatia and...

We look at the differences in regional unemployment rates in six major transition countries and their persistence over time. We analyse the role various adjustment mechanisms play. While movement out of the labour force seems to be one consequence in many regions with high relative unemployment,...