Global trade patterns are changing rapidly. Emerging economies are increasing their share of exports overall and intensifying competition in nearly all sectors. Using a gravity-based approach, this report examines the future profile of European Union (EU) world market shares at the aggregate and...

This paper attempts to shed new light on the effect innovation has on employment. Specifically, it identifies the net employment effects of technological product and process innovations as well as complementary non-technological organizational innovations which have so far mostly been bypassed...

This paper looks at the influence globalization exerts on wage negotiation processes and outcomes. Specifically, it establishes whether, compared to their purely domestically oriented counterparts, exporters share a higher fraction of the rents they generate with their employees. The analysis...

In 2009, Latin America was sucked into the financial crisis which, following the bankruptcy of Lehman Brothers, echoed around the globe and shook and shocked the entire global financial system. As a consequence, Latin America experienced a slump in real GDP growth, a drop in exports and a...

During economic downturns, labour hoarding becomes an attractive human resource strategy if sizeable search and training costs render hiring and training new workers too costly. The paper sheds light on the prevalence and extent of labour hoarding in five New EU Member States and Turkey during...

While up to the 1990s, R&D was still 'an important case of non-globalization' (Patel and Pavitt 1991), the internationalization of business R&D activities has accelerated significantly during the past two decades. R&D activities of foreign affiliates have become one of the most dynamic elements...

A Comparative Analysis of EU-15 and NMS-13 Countries This paper analyses bank credits and trade loans as the two most important sources of external finance of firms and identifies particular firm and country characteristics that determine the ease with which both external funding sources can be...

Abstract Understanding the complexity of innovation processes and unravelling the complicated relationships between innovation and productivity is pivotal to effective and purposeful public policy, designed particularly for economically lagging economies to initiate their swifter...

Abstract Due to information asymmetries between the debtor and potential outside investors, entrepreneurs often face sizeable and insurmountable financing constraints. This is a strong deterrent to either starting new or continuing already ongoing innovation projects which not only stymies...

The recent economic downturn The decline in GDP during the recession has been concentrated in manufacturing and construction and triggered significant (though smaller) declines in basic services (distribution, hotels and restaurants, and transport). The decline in manufacturing production was...