This paper presents a modified two-gap model and analyses the impact of international trade and domestic savings on the economic growth in the transition countries. The model indicates that economic growth is constrained by domestic savings when the domestic savings are relatively scarce,...

Following very high inflation rates at the beginning of the reform process, most transition countries have succeeded in lowering their inflation to more moderate rates. Inflation rates in the Baltics, Russia, and other countries of the former Soviet Union are now typically in the range of 10-60...

The purpose of this study is to investigate the relation between regional convergence inside of countries in EU and overall economic growth, and, based on it, to establish some relevant behavioural regimes. As data sources we are using the available dataset NUTS 2 from EUROSAT for the period...

The variance of the logarithm, often used to test for s-convergence, does not respect the properties expected for an inequality measure and it has problematic implications for world growth. Empirical tests for b-convergence are so weak that b-convergence can be observed simultaneously when one...

We assess the effects of changes in household size on the long-run evolution of living standards and on cross-country convergence. When the observed changes in average household size across countries are taken into consideration, growth in living standards is slower throughout the 20th century...

This paper examines the implications of automation capital in a Solow growth model with two types of labour. We study the transition from standard production to production using automation capital which substitutes low-skilled workers. We assume that despite advances in technology, AI and...

The way the results of the human activity are measured has been and still is a major theoretical and practical concern of the economic world. In this article we are particularly interested in analyzing the circumstances that provide a real image for the economic results at macroeconomic level....

This paper presents an analysis of the welfare convergence among 27 transition economies based on the evaluation of a micro-based summary statistic combining income, consumption, leisure, life expectancy, and inequality (Jones & Klenow, 2016). The results show that the countries of the former...