Cohesion policy - does it have a future? (by S. Richter; pp. 1-2) Keywords cohesion, transfers, EU Countries covered European Union, New EU Member States Topics Macroeconomic Analysis and Policy; Regional Development; Other The great crisis and the American response (by J. K. Galbraith; pp....

This paper concentrates on geographic direction of trade only. It applies a fairly conventional gravity model technique to answer the question: What would be the geographic pattern of trade of East and Central Europe (ECE) if their trade were determined by the same factors as those that affect...

The focus of this paper is on the transition from a trade regime in a socialist economy to one based on a (more) liberal market economy. Thus, there is no need to detail the past and current nature of trade institutions, patterns and performance. However, the sorts of problems that a transition...

This paper reviews evidence of dollarisation in Former Soviet Union (FSU) countries, and finds that it is still very high, the well-known hysteresis effect. However high dollarisation – defined as the use of any foreign currency – is not only due to inertial lack of confidence. There is also...

Econometrics of transition growth showed that Central Europe recovered earlier because stabilisation, liberalisation and institutions came earlier. Commonwealth of Independent States (CIS) still lag on reforms, and yet growth surged after 2000. This paper shows that the puzzle is only partly...

Using data for proxying economic activity, we confirm historical consensus that the medieval Republic of Ragusa (now Dubrovnik) was a prosperous small open economy, rivaling bigger competitors like Venice. More tentatively, we test a number of hypotheses on the determinants of success, finding...

The first aim of this paper is to describe the main developments in the Ukrainian economy since its independence in 1991, focusing on the evolution of output, and the path of economic reforms — that is, to simply show what happened. The bottom line on that is well known: Ukraine’s economy...