Fiscal sustainability requires that governments respect the intertemporal budget constraint at present value. We test the cointegration between public expenditures and revenues as ratios of GDP as a condition for the sustainability of budgetary policies in the European Union.

This paper examines the sources of output shocks in Finland as compared to other EU countries. The data consists of output fluctuations in main industries in nine current EU countries for the period 1978–1993. The sources of output shock are considered to consist of country-specific factors,...

Geographical proximity had accelerated the negative economic contagion between states from EU space. All negative inputs could be viewed as system effects for the EU sustainable development and durability. In this context, the aim of this paper is to create an analytical framework for explaining...

Since the entrepreneurial and creative spirit function plays an important role not only in private business but also in the public sector, this paper aims at investigating the relationship between entrepreneurship, innovation and public sector performance. Using composite indicators, the present...

We study differences in contributory and non-contributory welfare benefit receipt between immigrants and natives for 16 EU countries. In contrast to previous studies we analyse differences in benefit levels allowing for potentially different takeup rates between immigrants and natives and use...

The European Neighborhood Policy (ENP), launched in 2004, is a unified EU policy framework towards the EU neighboring countries (ENP countries). The objective of the ENP is to strengthen the prosperity, stability and security of the (enlarged) EU and the ENP countries, creating a "ring of...