Institutional development in new and potential member countries determines the success of both the catching-up of developing European countries and the deepening of the European integration process. This paper argues that the timing of future enlargement should depend on institutional...

For several decades, the countries in Central and Eastern Europe pursued an energyintensive strategy of economic development based on distorted relative prices of energy. This typical feature of central planning created the illusion of a virtually unlimited supply of energy. The illusion came to...

This paper aims to explore the factors influencing the ability of firms to compete in globalised markets. The Austrian and evolutionary economics and the endogeneous growth literature highlight the role of innovation activities in enabling firms to compete more effectively - and expand their...