Countries differ on the extent to which their financial system relies on banks or on the financial market. We offer a model featuring a possible two way relationship between countries' financial system architecture and their comparative advantage. Countries specialising in bank dependent sectors...

It is frequently stated that Turkey's trade orientation has shifted in the last decade away from Europe and more towards the East, specifically Arab countries and Middle East. However, comprehensive presentation of the situation is lacking, causing concern over the validity of the statement....

Graph of the month Foreign trade of the automotive industry in the NMS-7 Sources of economic growth in CEE countries before and after the crisis domestic effects and the importance of spillovers from Germany (by Roman Römisch) German firms drive innovation in Europe and around the globe (by...