Graph of the month Regional gross value added in Turkey (p. 1) Opinion corner Turkey and the EU (by Serkan Çiçek, Vladimir Gligorov and Michael Landesmann; pp. 2-4) The Turkish economic conundrum (by Serkan Çiçek; pp. 5-8) Regional disparities in Turkey (by Roman Römisch; pp. 9-12) Turkey a...

Iraq crisis, oil price and economies in transition (by Vasily Astrov) Countries covered Iraq Iraq and the Balkans (by Vladimir Gligorov) Countries covered Iraq, Balkan States Structural change and productivity growth in Central and Eastern Europe (by Peter Havlik) Countries covered CEE Poland's...

Graph of the month Europe Brent Spot Price, fob per barrel, in current USD and euro and real year 2005 euro (p. 1) Opinion corner Russia-Ukraine conflict do Western sanctions have any effect? (by Vasily Astrov, Vladimir Gligorov, Peter Havlik, Michael Landesmann and Olga Pindyuk; pp. 2-6)...

Serbia after Djindjic (by Vladimir Gligorov) Countries covered Serbia EU enlargement assessing the impact of transfers (by Sándor Richter) EU membership and income level convergence the experience of the Cohesion Countries (by Kazimierz Laski and Roman Römisch) Selected monthly data on the...

One year after the onset of the Arab Spring, the transition is clearly at its very beginning. In that, it does not compare with the onset of transition in Central, East and Southeast Europe (CESEE) in 1989 or 1990, which was a kind of breakthrough and provided a clear discontinuity with the past...

Growth prospects in Macedonia are still somewhere around 2% this year with some acceleration next year and beyond. The main driver is private investment which should recover due to relatively low private debt. The main risk is the possible contagion effect from the Greek crisis. There are still...

In Montenegro, growth prospects depend on the financial and fiscal stability, but are still not much above stagnation this year and slow recovery in the medium run. A start of negotiations with the EU would certainly contribute to overall stability.

Economic outcomes before and after the break-up of Yugoslavia What are the costs of nationalistic policies? The expectations may be more optimistic than is warranted as the example of the breakup of Yugoslavia suggests. Assuming that nationalists expected that economic results would be better...

This policy note argues that the current global economic crisis enforces an adjustment process in the countries of Central, Eastern and Southeastern Europe (CEE and SEE) in the form of real exchange rate depreciation. Because of the weakness of financial institutions and built-up foreign...

The pressures on fiscal consolidation have mounted dramatically in the wake of the Greek and then the 'contagion' crisis which followed it (across the so-called 'weakest links' Portugal, Spain, Italy, Ireland). It led to the setting-up of the 750 billion euro stabilisation package widely seen as...