Exchange rate regimes evolution in the European transition economies refers to one of the most crucial policy decision in the beginning of the 1990s employed during the initial stages of the transition process. During the period of last two decades we may identify some crucial milestones in the...

The main objective of this chapter is to provide an analysis on whether mark-to-market accounting magnifies financial crises. Even though the results of numerous studies on this topic offer various conclusions, the majority of them conclude that fair value accounting, or mark-to-market...

The financial crisis which occurred during 2008 has shown that markets are OTC (over-the-counter) derivatives unregulated and insufficiently controlled and represent a potential source of systemic risk build up. At summits in Pittsburgh G20 leaders by made binding recommendations for the reform...

The crisis of public finance negatively affected the overall economic development in all EU Member States, and therefore issues related to the regulatory mechanism not only of the financial sector, but the economy as a whole, are more than justified. The focus of fiscal consolidation is to a...

Economies are accompanied by periodic cycles to a certain extent. Depressions always precede recessions, but a depression doesn’t need to necessarily follow a recession. A depression cannot be overcome without regulation and state intervention (sometimes even by associations of states). This...

The chapter deals with the influence of the economic crisis on the fulfillment of one of the five targets identified in new European Union strategy called Europe 2020. It points out the fact, that research, development and innovation activities are way out of the economic crisis. There is...

With financial globalization, investors can gain from diversification if returns from financial markets are stable and not correlated. However with volatility spillovers, increase in cross-market correlations exist as a real-effect and are not taken into account for asset allocation and...

As public debt becomes an acute problem for western economies, the political debate becomes more and more dominated by issues related to the need of increasing the progressivity of taxation. In order that one better understands the current context, it is necessary, in our view, to become...

The chapter provides the overview of the ideas on the sources of finance for development which were widely discussed by international community before the crisis in order to achieve the Millennium Development Goals. This set of ideas remains the starting point for further discussion on the issue...

Socially Responsible Investing (SRI) funds are funds that undergo screening processes which satisfies the environmental, social and governance criterion for the benefit of all. This chapter investigates the market timing ability of SRI funds in Luxembourg. Luxembourg is the largest fund...