exporters’
competitiveness (Grubel, 2000), consequently promoting recourses’ misallocation (Gylfason,
2000) and in that manner …, export growth, fiscal balance-to-GDP, short-term
capital inflows-to-GDP and the real growth of EU-15. Dummies for 1998 … study, the real
growth of EU and the dummy for the Russian crises are assumed to be exogenous, while all
the others are …