The contribution of the "new economy" to economic growth in developing countries has been minimal when viewed from a macroeconomic perspective. Despite the recent 'new economy' hype, the paper argues that the "old economy" will for long be the fundamental force behind economic growth in...

This paper investigates how the European integration process of central eastern European countries, which has been taking place since the 1990's, affects their GDP growth. Based on an augmented Solow model, I estimate a convergence equation for a panel of ten countries over 16 years (1995-2010)....