The financial crisis affected regions in Europe in a different magnitude. This is why we examine whether regions which incorporate banks with a higher intermediation quality grow faster in 'normal' times and are more resilient in 'bad' ones. For this purpose, we measure the intermediation...

In this paper we conduct a meta-analysis to examine the link between R&D spending and economic growth in the EU and other regions. The results suggest that the growth-enhancing effect of R&D in the EU15 countries does not differ from that in other countries in general, but it is less significant...

This study suggests a two-step approach to identifying and interpreting regional convergence clubs in Europe. The first step calculates Bayesian probabilities for various assignments of regions to two clubs using a general stochastic space-time dynamic panel relationship between growth rates and...

A key factor for a stable and solid development is the gain in labor productivity. The regions that manage to pull out of poverty and improve the living standards of their inhabitants, in fact, need to be able to diversify away from agriculture and other traditional sectors. In doing this, the...

Endogenous growth theory assigns an important role for entrepreneurship in the process of economic development. This paper sets to formally test the impact of entrepreneurship on economic growth. Entrepreneurship is represented by a number of proxy variables, whereas Total Factor Productivity is...

This paper analyses real income convergence in central, eastern and south-eastern Europe (CESEE) to the most advanced EU economies between 2000 and 2016. The relevance of this topic stems both from the far-reaching implications of real income convergence for economic welfare and the importance...

Österreich bietet einen hohen Lebensstandard, der sowohl in überdurchschnittlichen Pro-Kopf-Einkommen und einer im internationalen Vergleich niedrigen Arbeitslosenquote als auch einem geringeren Anteil armutsgefährdeter Personen zum Ausdruck kommt. Der erreichte materielle Wohlstand beruht...

In recent years, the role attached to the autonomous components of aggregate demand has attracted rising attention, as testified by the development of the Sraffian Supermulti plier model (SSM) and the attempts to include autonomous demand in the Neo-Kaleckian model. This paper reviews and...

The research addresses the issue of identifying new catalysts for economic growth at European level, supporting the future mix of policies. It was analyzed, the nature of the intercorrelation between the economic indicators Gross Domestic Product (GDP and GDP per capita), conventionally...