Using a neo-classical growth model, we analyse the real and nominal GDP per capita convergence of 21 emerging market economies (EMEs) of Central and Eastern Europe towards the EU15 average by 2050. We estimate the countries’ initial capital stocks and project future investment as a function of...

Tässä muistiossa käsitellään EU:n itälaajenemisen vaikutuksia Suomen tuotantorakenteeseen. Tarkastelu jakautuu neljään osaan. Ensiksi tarkastellaan KIE-maiden integroitumista kohti EU:ta. Todetaan, että EU:n laajenemisen suhteen vallitsee merkittävä epäsymmetria siinä, että...

Foreign trade is an important mechanism for economic integration with other countries, and plays a significant role in economic growth. The possible impacts of EU membership on Estonian foreign trade have been discussed for years without reaching a clear conclusion. Although the current paper...

Tässä selvityksessä arvioidaan EU:n itälaajenemisen vaikutuksia Suomen tulevaan väestökehitykseen. Arviointia varten mallinnetaan ekonometrisesti Suomeen suuntautunutta nettosiirtolaisuutta Suomen ja läntisten teollisuusmaiden elintasoeron avulla. Ennustelaskelmissa tätä työvoiman...

The EU15 countries’ real GDP per capita levels adjusted for purchasing power have converged in 1960-2001. Convergence has occurred in two spells, in 1960-73 and 1986-2001, with an interim period of stagnation. We analyse both σ and β convergence and discuss the impact of EU membership, trade...

This paper compares the post-investment value-added activities performed by governmental venture capital (GVC) and independent venture capital (IVC) for their portfolio companies, and controls for the selection effect that the different investment profiles of these investors might have on the...

The success of Google Maps suggests that free access to public sector information (PSI) contributes to a prosperous economy. While there has been considerable attention for legal and economical considerations concerning the implications of policies on public sector information (PSI), also...

The EU is currently facing great challenges. Paradoxically, however, the crisis has demonstrated the endurance of the European model. The only long-term solution to the current challenges is to achieve sustained growth. To achieve this goal, Europe must balance austerity and expansion. In the...

We reassess the result of unsustainability of the euro with respect to inflation differentials claimed by Wickens (2007) by specifying an open-economy version of a two-region New Keynesian model for EMU and demonstrate that the result by Wickens does not hold in general. We are able to derive a...