The current account deficit of the United States has been large in recent years, both in absolute size and relative to GDP. In 2006, it reached $811 billion, 6.1 percent of GDP. It has become a dominant feature of the world economy; if you sum up the current account deficits of all nations that...

According to EVAŽs annual attitude and value survey, two out of three Finns believe that globalization means loosing increasing amounts of jobs to low-cost-countries. However, 70 percent of the respondents think that their job is not easily transferrable and only 8 % are afraid that their own...

This paper theoretically investigates the impact of European integration on employment by developing a new-keynesian model where fiscal policy effectively reduces firms’ market power. Stronger product market competition is shown to reduce the marginal ability of governments to improve...

Relative wages have been remarkably rigid for the last two decades in Danish manufacturing despite large shifts in relative employment from unskilled labor towards skilled and educated labor. Assuming capital-skill complementarity and fixed relative wages as a consequence of labor market...

This article is an attempt to contribute to the analysis of foreign direct investments (FDI) inflows to the Southeastern countries by examining, on a macroeconomic level, the empirical evidence for attracting capital flows. Since the beginning of the century the interest of foreign investors...

Regional specialisation by processing industry sectors in Bulgaria is studied through calculating coefficients of absolute and relative specialisation. Cluster and discriminant analyses are applied. A relationship between processes observed in Bulgaria and other Central and Eastern European...

Globalisation and regionalism in the world economy and changes in the functioning of the world financial system caused regional financial crises in the 1990s. The possibility for their spreading, which provoked a search for a model of a new financial architecture and an analysis of the causes...

The development of integration processes in the EU and East Asian countries is analysed as a basis of the economic relations between them. The relations of the EU with the countries from the Northeast and Southeast Asia are studied. The countries from East Asia have undergone an impressing...

The purpose of this paper is to suggest ways in which core labour standards can be incorporated into the WTO. Though regarded by some as simply a vehicle for protectionism, the campaign for core labour standards is based on sound economics that extends the logic of trade regulation to the...

In the previous decades, the European Union (EU) has succeeded in integrating new member countries, in economic and in political respects. Three main reasons lie behind this successful integration process: First, the solidarity of richer EU members with their poorer counterparts, second, the...