During the financial crisis, the global economy experienced a collapse in cross-border capital flows and a rapid adjustment of global imbalances. One of the striking features of this adjustment is its asymmetric nature:domestic demand declined in countries with a current account deficit,but only...

During the financial crisis, the global economy experienced a collapse in cross-border capital flows and a rapid adjustment of global imbalances. One of the striking features of this adjustment is its asymmetric nature:domestic demand declined in countries with a current account deficit,but only...

It has been argued that the global financial crisis 2007–2009 was intrinsically related to two largely unprecedented phenomena in the global economy: (i) exceptionally benign financial market conditions as mirrored in historically low risk premia and buoyant asset price developments as well as...

The Foreign Direct Investments (FDI) formed one of the most important pillars of economic transformation of the so called former Eastern Bloc countries. In general, many countries considered it to be the only solution for recovery of industry and trade in respect of 'mismanaged' domestic...

The events of December 1989 represented the trigger which determined the future evolution of Romania from an economic and political point of view. Among the first reform measures, adopted after the fall of communism, were also those regarding Romania’s commercial policy. Being aware of the...

In this paper we examine the effects of model misspecification (robustness or RB) on international consumption correlations in an otherwise standard small open economy model with endogenous capital accumulation. We show that in the presence of capital mobility in financial markets, RB lowers the...

A cikk azt a kérdést vizsgálja, hogy a globalizálódás és a megafúziók világában életképesek lehetnek-e a kis országok, s ha igen, milyen feltételekkel. Az írás azt igyekszik igazolni, hogy a műszaki fejlődés új iránya és a nemzetközi pénzügyek formálódó reformja...