For decades after founding the ECSC (1951) the member states have relegated the issue of joint supranational energy policy development. The situation changed decisively in the early 1990s, with the dramatic shift in the geo-politics of the resource-rich Eurasia, following such developments as...

This article examines the dynamic between the process of Bulgaria’s European Union accession and the flow of Foreign Direct Investments to the country in its industrial base. A critical differentiation between speculative and non-speculative FDI is drawn while determining that the geographic...

For decades after founding the ECSC (1951) the member states have relegated the issue of joint supranational energy policy development. The situation changed decisively in the early 1990s, with the dramatic shift in the geo-politics of the resource-rich Eurasia, following such developments as...

We estimate the extent to which idiosyncratic and disaggregate macro shocks (such as regional and industry shocks) are not shared in the economy. Comparing the degree to which idiosyncratic and disaggregate macro shocks are not shared grants a deeper understanding as to why the economy lacks in...

This paper looks at the advantages and disadvantages of mixing banking and commerce, using the "liquidity" approach to financial intermediation. Adding a commercial firm makes it easier for a bank to dispose of assets seized in a loan default. This 'internal market' increases the liquidity of...

Policy-makers have increasingly come to focus on the role of economic factors in fuelling or dampening regional and border conflicts. This issue can be highly relevant in the case of nonrecognized entities where some economic interests may benefit from the resulting distortions while others...