After the fall of communist regime the Romanian current account passed from exceeds to substantial and persistent deficits. This evolution raised concerns over the country external sustainability. Since 2007, in the Romanian foreign trade dramatic changes occurred, being induced by the adhesion...

For Latvia with incoming into the European Union big opportunities in the international markets have opened. Paper purpose is to investigate influence of international integration processes on development of economy of Latvia. In paper various indicators of a national economy before and after...

Joining the European Union big opportunities in the international markets have opened for Latvia. Paper purpose is to investigate influence of international integration processes on development of economy of Latvia. In the paper Latvian economic indicators before and after entering the EU are...

Joining the European Union big opportunities in the international markets have opened for Latvia. Paper purpose is to investigate influence of international integration processes on development of economy of Latvia. Latvia's incoming in EU increased the amount of received means from structural...

We study cross-country insurance in a currency union with nominal price and wage rigidities. We provide two results that build the case for the creation of a fiscal union within a currency union. First, we show that, if financial markets are incomplete, the value of gaining access to any given...

Under the global crisis impact the structure of international trade flows witnessed significant changes. In the case of Romania, paradoxically for an emerging country, in terms of product composition during 2007-2010, the share of capital goods decreased in total imports and increased in total...

It has been suggested that countries which export in especially risky sectors will experience higher output volatility. This paper develops a measure of the riskiness of a country's pattern of export specialization, and illustrates its features across countries and over time. The exercise...

Under the circumstances of rising and persistent deficits in the Romanian foreign trade, the contribution of net exports to the GDP growth remains negative, in 2005 halving practically the domestic demand increase. One factor behind this trend is the IPT (Inward Processing Trade) which doesn’t...

This paper integrates in a unified and tractable framework some of the key insights of the field of international trade and economic growth. It examines a sequence of theoretical models that share a common description of technology and preferences but differ on their assumptions about trade...

What is the role of transport improvements in globalization? We argue that the nineteenth century is the ideal testing ground for this question: freight rates fell on average by 50% while global trade increased 400% from 1870 to 1913. We estimate the first indices of bilateral freight rates for...