This paper illustrates the main trends in international trade in services during the last two decades of the last century, focusing particularly on developing and transition countries. The Introduction briefly exposes some of the shortcomings and methodological problems affecting statistics on...

The objective of this paper is to in-depth study the financial liberalization process in the various segments of the emerging-market economies and observe whether the resulting assertion of fast-clip real GDP growth holds. The author examines financial and macroeconomic turbulence in the...

The world trade order is undergoing transformation into a tripartite trading system owing to the growing regionalism in East Asia. East Asia has become progressively integrated as a trading bloc through intensified intra-regional trade. A powerful engine for this integration is concentrated FDI...

Exporting countries are concerned that sanitary standards might shield domestic industry from foreign competition. This study analyzes economic effects of changes in Western Hemisphere sanitary requirements on broiler trade in the Americas. A mathematical programming model detects that if Brazil...

This paper aims to empirically investigate the effect of the euro on stock markets for Hungary, Poland and the UK, and also the co-movement of the stock prices with the euro-zone using the daily stock price indices. The result reveals that in order to develop the emerging stock markets, exchange...

Recent literature has emphasized the importance of transaction costs and infrastructure in explaining trade, access to markets, and regional cooperation under globalization. For most Asian countries, transaction costs are a greater barrier to trade integration than import tariffs. By estimating...

In this paper, we investigate how market integration affects firms’ technology choices. Although market integration encourages cost-reducing research and development (R&D) investments in many cases, it may discourage it in two cases: (1) when market sizes are quite different and the effects of...

The paper analyses the process of real convergence of the New Member States of the European Union. Its importance is underlined in connection with a successful catching-up and a special attention is paid to the countries involved in the fifth European enlargement, with the exception of Cyprus...

This paper examines the circumstances under which it is beneficial for small countries in a currency union to peg their currency to a large one (euro zone for example). For these purposes, we provide a three-country theoretical model extending the two-country model by Ricci (2008). The...

A new cooperation Agreement has been signed between the European Union and the 77 ACP Countries in Cotonou (Benin) on June 23rd 2000. A point of this agreement is regarding a new trade cooperation between these different countries in districts (or regions) gathered and the European Union, based...