The ambition to expand participation in the European Banking Union was to allow the ‘outs’ to enter in to close cooperation, however, it did not include the simultaneous joining of ERM II. Focusing on the cases of Bulgaria and Croatia, this paper attempts to respond to a number of questions:...

The analysis of the experiences of Central and Eastern European Countries (CEEs) in transition, which became EU members in the historical 2004 (and 2007) enlargement, evidences the importance of timing and targeting policy intervention for a balanced growth (Monasterolo et. al, 2008). In fact,...

In the last years, a lot of important changes occurred inside the European Union after the entering of 12 new member States. The rate of economic growth of the new member States has been higher the other EU members. In Hungary, particularly, the growth level has reached an intermediate position,...

The analysis of the conditions under which, and extent to which climate-adjusted financial risk assessment affects firms' investment decisions in the low-carbon transition, and the realisation of the climate mitigation trajectories, still represent a knowledge gap. Filling this gap is crucial to...

Climate risk has become a major concern for financial institutions and financial markets. Yet, climate policy is still in its infancy and contributes to increased uncertainty. For example, the lack of a sufficiently high carbon price and the variety of definitions for green activities lower the...

The role of finance in the low-carbon transition, as well as the deep uncertainty and endogeneity of climate finance risk, are currently neglected by climate economic models. This leads to a false sense of control in terms of risks and opportunities associated with the low-carbon transition....