Turkey's performance in the current crisis shows that it has managed to weather the global stormy conditions relatively well and avoid collapsing into a full-fledged currency and financial crisis. On the face of it, one could conclude economic reforms introduced since 2001 have paid off and...

This paper presents the analysis of unconditional and convergence among the ten European countries that accessed the European Union in 2004. Unconditional convergence means that the less developed countries (with lower GDP per capita) grow faster than the more developed countries (with higher...

Purpose – The Maastricht inflation criterion has influenced the choice of disinflation strategies of prospective euro area member countries. Some historically high-inflation countries chose the fiat disinflation strategy of “low inflation now, reforms later,” bringing inflation down...

The aim of this paper is to examine the impact of economic integration on intra EU FDI. More specifically, a model is employed regressing country relative intensities of inward FDI originated from within the EU against a set of variables expected to affect the FDI inter-country distribution....

Purpose – The purpose of this paper is to discuss the role of Markovian transitions related to the economic convergence among countries. Thus, the paper aims to develop an overview of several classical approaches, including an analysis of fallacies exposed through the literature....

This paper uses the adaptive Lasso estimator to determine the variables important for economic growth. The adaptive Lasso estimator is a computationally very simple procedure that can perform at the same time model selection and consistent parameter estimation. The methodology is applied to...

We analyze the growth impact of official development assistance to developing countries. Our approach is different from that of previous studies in two major ways. First, we disentangle the effects of two kinds of aid: developmental and non-developmental. Second, our specifications allow for the...

This paper examines the dynamics of regional integration and economic convergence in the post-Soviet world during the period 1999-2008. This is the period, when FSU countries experienced rapid economic growth, following the “Big Bang” of the disintegration of the Former Soviet Union (FSU)...

The article attempts to define the relevant yardsticks that can be used to delineate the end of the transition process or, alternatively, a second stage in the post-socialist economic transformation into market capitalism. A first benchmark is EU accession, but it does not apply to non accession...

Purpose – To explore the implications of financial sector convergence for corporate governance systems. Design/methodology/approach – Globalisation, regulatory harmonisation and pensions reform are driving convergence of bank and market oriented systems of corporate finance towards a hybrid...