In this paper game-theoretical concepts of power indices are applied to evaluation of power (or influence) distribution among different European Union member states in a decision making processes in the Council of Ministers, Commission and European Parliament. Dynamics of distribution of power...

This paper studies the effects of financial liberalization and banking crises on growth. It shows that financial liberalization spurs on average economic growth. Banking crises are harmful for growth, but to a lesser extent in countries with open financial systems and good institutions. The...

It is now clear that the global economic crisis has hit the Russian economy. The resulting shock clearly shows not only the global economic imbalance but also the distinct characteristics of emerging Russian markets. The Russian economy already changed its structure under the high economic...

The European Union should strengthen its role as one important global player by increasing competitiveness and cohesion of its regions and, in the same time by enforcing its strategy as competitor on an international scale. This means that competitiveness of the European Union as a whole should...

The importance of ensuring high levels of absorption for the structural and cohesion funds, especially in the deprived regions, is crucial. In such a context, there have been identified the drivers of and possible difficulties associated to the absorption capacity of a Member State and its...

For a very long time, the areas available for continuous long-distance trade were limited to territories the size of Braudel's Mediterranée (1949). Whatever the commercial organizations (merchants in the Roman or the Fatimid Empires, the Hanseatic League, the Florentine Companies), their trade...

This paper addresses the agenda for the Group of Twenty (G-20) leaders' meeting in Seoul, Korea in November 2010. This is an opportunity and challenge for Asian leaders in particular. Their test will be, first, to demonstrate that they can responsibly advance economic recovery. They must also...

Conditional on choosing a pegged exchange rate regime, what determines the currency to which countries peg or “anchor” their exchange rate? This paper aims to answer this question using a panel multinomial logit framework, covering more than 100 countries for the period 1980-1998. We find...

The 1990s have witnessed an increase of international financial turbulence. Indeed, the frequency, the size, the geographic extension, and the social costs of financial crises have made the topic a global policy issue. An array of policy actions have been advocated to prevent crises from...