We argue that the present crisis and stalling economy continuing since 2007 have clear origins, namely in the delusionary belief in the merits of policies based on a “perpetual money machine” type of thinking. Indeed, we document strong evidence that, since the early 1980s, consumption has...

There is a general acceptance of the fact that a significant direct relationship between financial markets and macroeconomic variables exists, especially by considering the assertion that developed financial markets correspond to high GDP levels. This paper provides an investigation of the...

This paper investigates the macroeconomic benefits of international financial integration and domestic financial sector development for the European Union. The sample consists of 26 European countries with annual data during the period 1970.2004. We attempt to exploit more fully the temporal...

This study analyzed the impact of political instability on financial development of Pakistan. OLS regression is used for the estimation of data. Time series data is used for the study. 40 years are included in the time series from 1972 to 2011. The variable of interest is political instability...

Convergence to the Centre -- Financial Markets: Banks Capital Markets -- Firm Size, Productivity, EU-Funds and Corruption -- Labour Markets: Structural Characteristics and the Impact of Two Crises -- Transport and Mobility -- Monetary, Macroprudential, and Fiscal Policy -- Green Economy: Energy,...