Table of Contents: Herbert Giersch, Gottfried Haberler, Jan Tumlir, Juergen B. Donges, Bela Balassa, Europe's Role in the World Economy; Fritz Machlup, Johann Schollhorn, Norbert Walter Pascal Salin, Roland Vaubel, Roads to Monetary Union; Willi Albers, Fritz Neumark, Carl S. Shoup, Dieter...

The purpose of this essay is to re-assess the case of outward- oriented trade regimes in the process of economic development. The nature of outward-orientation is briefly explained in the next section. As developing countries usually start their industrialization through import substitution...

The purpose of this paper is to discuss major factors behind failures and successes in structural adjustment. The analysis includes the experience of four major European countries: France, Italy, the United Kingdom and West Germany. These countries are known for diverging performances. Germany...

After World War II, all industrial countries have reached a level of prosperity unprecedented in history; many developing countries and several socialist countries have experienced notable economic growth too. The post-war multilateral trading and monetary systems have been singled out by...

Economist's thinking about the role of international trade in the process of economic development exhibits a cyclical behaviour. The classical thinking, which held sway until the 1930s, emphasized the crucial role of trade in promoting growth through the optimal allocation of resources made...

As economic theory shows and experience underlines, international trade and the specialization associated herewith is one important source of economic growth, employment creation and technological innovation in participating countries. In awareness of this potential for increasing economic...

The purpose of this paper is to highlight significant growth and trade issues with respect to an eventual enlargement of the European Economic Community (EEC), after three Southern European economies formally applied for membership; Greece (on 12 June 1975), Portugal (on 28 March 1977), and...

The purpose of this paper is to assess the main factors causing the impasse which the EC has reached. The next section examines the lack of consensus of the member states on the aims of the EC and on the means to achieve them. Subsequently, this is related to the EC enlargement. Finally,...