This study takes stock of 20 years of economic transition amidst a global economic crisis. The period from the fall of the Berlin wall up to the present day is reviewed to identify successes and failures. In general, the high hopes and expectations at the beginning of the system transformation...

Hayek’s theory of cultural evolution has always generated controversy. Interest in Hayek’s theory, and others’ analysis and criticism of it, has been rising of late. This volume urges a reconsideration of Hayeks’ theory of evolution and aims to explore the relevance...

This highly topical book examines the development and future prospects for economic and monetary union in Europe. European Monetary Integration examines the background to economic and monetary union from a historical perspective that distinguishes between national and supranational currency...

Purpose – This study intends to explore the determinants of Chinese oil demand and to build a short‐ and long‐run model. Design/methodology/approach – The study uses the Engle‐Granger two‐stage cointegration method to create a dynamic short‐run model. Data is taken from both...

This book takes a macroeconomic approach to the issue of transformation from communist economies into market economies. At the centre of the analysis stands the role of the state and the definition within a dramatically changing environment. Particular emphasis is given to the emerging role of...

This book provides a comprehensive understanding of Germany's economic performance at the turn of the twenty-first century. The period under observation and analysis stretches from Germany's unification in 1990 over the death of the German Mark to first experiences with the Euro, with particular...