In 2004 the Austrian-based OMV acquired in a privatization process 51% of the Romanian national oil company Petrom. Two and a half years later this privatization is again in the focus of political attention in Romania. The current government and the media consider the selling price and the...

This report counter-poses the patterns of trade specialization and trade diversification of two groups of economies the new member states of the European Union, NMS, and the follower countries of the Soviet Union, the NIS (Newly Independent States). It is shown that the NIS export structures are...

This paper contributes to the debate on the effects of migration by providing evidence on the returns to working experience from western Europe in eastern European labour markets. In particular, using the 2003 Youth Central and Eastern Eurobarometer dataset, we test the hypothesis that there are...

Graph of the month Inequalities in hourly earnings at PPP measured by the Gini index, 2002-2010 (p. 1) Opinion corner Presidential election in Romania will the new broom sweep cleaner? (by Gábor Hunya; pp. 2-3) Earnings levels, inequality and coverage rates of collective agreements (by Sebastian...

Summary The Ukraine conflict is having serious consequences not only for Russia and Ukraine, but it also potentially threatens to damage the still frail economic recovery in Europe. In Ukraine, which is the main victim of the conflict, the economy may decline by up to 8% this year. In Russia,...

Growth in the CESEE region will follow the unimpressive pattern displayed by the euro area. The longer-term convergence of income levels in the CESEE countries can no longer be expected to be as rapid as was assumed a decade or so ago. Growth in the period 2015-2017 is not going to deviate...

Abstract This paper analyses the impacts of the crisis on various groups in the labour market, providing a comparison across groups of EU countries and individual Central and East European new EU Member States. Particularly it reports how the crisis affected the transitions of people between...

Abstract It is now widely accepted that when controlling for international differences in production techniques, the predictions from the Heckscher-Ohlin-Vanek (HOV) theorem are largely satisfied. However, a large amount of ‘missing trade’ remains. This paper makes two main contributions...