The literature that study the positive relation between openness and growth is extensive, but the discussion about it isn´t close. That’s why, it deserves a deeper analysis that takes into account the level of development of the countries and the influence of the openness´ channels. The...

Does R&D affect hirings, separations or both? Different answers to this question imply different behavioural responses of firms to innovation. Using a sample of Italian manufacturing firms, this paper explores the effects of R&D intensity on hiring, separation and churning rates. Based on...

The Republic of Bulgaria has been a Member State of the European Union since 2007. Its economic development has been framed by a Currency Board Arrangement (binding the national currency to the euro) since 1997. Recent development is characterised by slow economic growth. Preliminary GDP data...

Given the decline in growth momentum in the manufacturing sector in many OECD countries, the role of knowledge-based capital has emerged as a key driver for sustained growth. While empirical studies on estimating knowledge spillovers have usually been undertaken at the country level, the...

Economic growth data does not show how such growth was achieved. Was it based on income growth and consumption spending levels or was it based on borrowings to extend the income levels? The question is vital for deciding which economic tools work best for correcting imbalances. The main...

Economists may need to change their tools of analysis from analysing income and expenditure contributors (GDP) to asset value contributors -the net worth levels of individual households-. Assessment of the latter requires a balance sheet analysis. Why; because the level of individual...

This paper examines the role of various aspects of globalization for economic growth in ten CEE economies. In contrary to previous papers, we restrict our analysis solely to the first two decades of transition. Using the globalization indexes published by the Swiss Economic Institute, we found...

The article describes “the theory of devaluation of values” developed by the author. In accordance with this theory, economic growth takes place using two inter-connected phenomena: a) reduction in time necessary for “the set of benefits (goods) currently consumed” to be produced, on the...

This article discusses the impact of the current stagflation in Pakistan on the labor market and poverty. The paper presents a preliminary explanation of why the labor market and poverty impact of the current stagflation may be far smaller than projected in recent studies, especially for the...

This study examines the causal relationship between economic growth and financial development in Poland on the basis of quarterly data for the period 2000 Q1–2011 Q4. In order to examine the impact of the 2008 financial crisis on the structure of financial sector-GDP links in Poland we...