This paper has the goal to explore the functionality of the economic development in emerging countries, which are on their way of joining a currency union based on the concept of macroeconomic policy regimes (MPRs). Functional MPRs are considered those that deliver sustainable economic growth,...

The goal of this paper is to analyse the economic development of Poland using the concept of macroeconomic policy regimes (MPRs). Six elements of a MPR will be identified: foreign economic policy, industrial policy, the financial system, wage policy, monetary policy and fiscal policy. Examining...

In neoclassical thinking, insufficient development is considered the result of a lack of resources, and an inefficient allocation. Deregulated markets have to guarantee a better allocation of resources as well as a net resource inflow to augment the domestic physical capital stock. From a...