When, about twenty years ago, the Euro was created, one objective was to facilitate intra-European trade by reducing transaction costs. Has the Euro delivered? Using sectoral trade data from 1995 to 2014 and applying structural gravity modeling, we conduct an ex post evaluation of the European...

Every EU enlargement signified a step towards Central and Eastern Europe, therefore, the 2004 „big bang enlargement”, followed by the one in 2007, modified the geopolitical context within the „old continent” and also increased the importance of the European Union regionally, as well as...

In the last decade we have seen the creation process of a common Energy Policy, which was gradually adopted by all Community countries, and has promoted an integrated competitive European energy market, increased security of supply and supported the use renewable energy sources. But in order for...

Since its latest enlargements, the European Union has constantly developed various actions and initiatives in order to secure its borders and consequently to be surrounded by countries with dynamic economies and secure and stable political situations. So far, the presence of the union in its...

The interdependence is definitely the most common concept used to describe the relations between the EU and Russia. Nevertheless, despite their obvious interdependence, there are still a series of debates in literature which usually arise when it comes to describing its typology and its...

An increasing share of variable renewable energy sources (VREs) basically affects the electricity price formation in two ways: (1) The so-called merit order effect tends to lower the base price level and challenges conventional plants to remain profitable. (2) Due to the variable nature of...

This paper investigates the relevance for innovation of international exhibitions. While the first of these events, i.e. London's 1851 Great Exhibition, was an "exhibition of innovations", many of the subsequent ones, following the model of industrial exhibitions developed in France, did not...

Research findings of the latest round of the wiiw-GDN project on development in the Balkans are surveyed. Historical and structural deficiencies of development in the Balkan countries are discussed in detail with emphasis of the role of investment, integration, and structural and policy...

Patent studies inform our understanding of innovation. Any study of patenting involves classifying patent data according to a chosen taxonomy. The literature has produced numerous taxonomies, which means patents are being classified differently across studies. This potential inconsistency is...

Ascertaining whether patents encourage invention necessitates understanding the incentives inventors respond to. The British patent system prior to its reform in 1852 was cumbersome and expensive. Whether it facilitated or delayed the Industrial Revolution is hotly debated. This paper's...