The paper discusses the seriousness of current account imbalances in the last few decades in Europe, with a particular focus on the European Monetary Union. A closer look at the development of current accounts in European economies suggests the existence of some serious structural problems that...

This paper examines the role of international openness on the change of firm productivity in Southeastern Europe (SEE). This is a crucial question for middel income countries. Using firm-level date for six transition economies over the period 1994-2002, we identify whether foreign ownership and...

Foreign investments are in the focus of most governments around the world. In order to be able to set a policy agenda which is successful in promoting FDI, it is necessary to understand their detfirminants. This paper examines whether and to what extent sound institutions and the degree of...

Transition countries provide a natural experiment to study the development of land markets. This paper provides survey-evidence of the variation in the development of land markets, identifies a series of patterns, and provides a set of hypotheses to explain these variations in land market...

Institutional development in new and potential member countries determines the success of deepening European integration. This papers argues that the timing of future enlargement should depend on institutional convergence between the EU and potential accession candidates. It therefore looks at...