The present study aims to verify whether the balance-of-payments constrained growth approach is suitable for explaining the Portuguese growth performance during the last decades. For that, we adopt "Thirlwall's Law" that predicts actual growth by the ratio of the exports growth relative to the...

The balance of payments can act as a constraint to the rate of growth of output, on putting a limit to the growth in the level of demand to which supply can adapt. This effect might be even stronger for regional economies, presumably more integrated among them. In this paper, we examine this...

The aim of this paper is to examine the influence of non-governmental organizations (NGOs) operating in the European Union (EU), as being participants of the institutionalization of regional links between states, on mitigating the deficiency of democracy. In order to achieve the aim, the...

Introduction. The investigation is devoted to the issue of a national financial stability and economic growth. The theme of our investigation is topical because of the modern world economy processes. Some countries have been using different monetary, economic, and political instruments to...

This paper studies the role of international investment funds in the transmission of global financial conditions to the euro area using structural Bayesian vector auto regressions. While cross-border banking sector capital ows receded significantly in the aftermath of the global financial...

While illicit capital flight is a major concern of policy makers in developing countries, there is only little research on the possible link between capital flight and development aid. In this paper, we address the issue for Nepal, a stereotypical financially-closed developing economy that is...

For the largest 55 German banks, we detect the presence of countercyclical yield seeking in the form of acquisition of high-yielding periphery bonds in the period from Q1 2008 to Q2 2011. This investment strategy is pursued by banks not subject to a bailout, banks characterised by high...