Local development strategies represent an important response to the challenges of globalisation, while providing a mechanism for seizing the new opportunities that globalisation offers. Yet designing and implementing a local strategy is a much more difficult process than often imagined. It...

This paper studies the determinants of house prices in eight transition economies of central and eastern Europe (CEE) and 19 OECD countries. The main question addressed is whether the conventional fundamental determinants of house prices, such as GDP per capita, real interest rates, housing...