The paper examines the inflation targeting regime in the context of transition economies. Recent years have witnessed an increasing number of central banks in these countries moving towards the implementation of inflation targeting regimes. However, the success of such a regime depends largely...

Guest Editors' introduction to the special issue on "European Regions"

We summarize the empirical literature on regional labour market development in transition. This literature suggests that transition has been associated with increased regional disparities and there is some indication of polarisation. Capital cities and regions closer to EU-borders developed...

The aim of this paper is to contribute to empirical analysis of the differentials, dynamics and determinants of labour market performance in EU-15. One innovation of the paper reflects our decision not to use a single indicator of labour market performance, but to adopt three variables:...

In this paper we investigate the degree of integration of the Greek economy into international capital markets using the analytical framework proposed by Felstein-Horioka. We examine the time series properties of data on current account balance and national savings for the period 1960-2004....

The purpose of this paper was to analyze specialization and convergence of European countries and regions, within the framework of integration in the EU. This is important not only for long-term real convergence processes, but also for a proper functioning of the monetary union (in the line of...

In this paper a categorization of 1,212 European NUTS 3 regions is conducted by means of factor and cluster analysis according to economic structure and spatial characteristics. Subsequently the hypothesis is tested that these region types do explain differences in level and growth of regional...

Labour productivity rates are known to vary across UK regions. Although some empirical studies seek to explain the source of these differences using aggregate, regional data we argue that this may be inappropriate because labour productivity rates are firm-specific. This paper employs...

The paper considers the status of the European Neighbourhood Policy in the light of the new Financial Perspective 2007-2013 and of the present internal state of the European Union. Even if in theory the ENP could have been a valid substitute for enlargement, it does not seem to have reached its...

This paper compares the growth prospects of China and India through a growth accounting analysis. Consistent time series for capital stock and employment are constructed using available survey data, and recent revisions to the national accounts for both countries are incorporated. The results...