Our objective in this paper is threefold. First, to identify the major common shocks that hit these countries upon entry into the EMU. Second, taking Greece as our case study, to construct a simple macroeconomic model of the policies Greek governments pursued in the presence of these shocks, and...

This paper explores the changes in the auto parts sector from the industrial policy perspective of Romania, in the context of globalization. We propose to find the place of the means of transport industry in the processing industry sector and we studied the document of Industrial Policy for...

We analyze determinacy in the baseline open-economy New Keynesian model developed by Gali and Monacelli (2005). We find that the open economy structure causes multifaceted behaviors in the system creating extra challenges for policy making. The degree of openness significantly affects...

Can foreign direct investment (FDI) promote growth in Africa? What does the inflow of investment hold for African emerging economies? Are the determinants of FDI different for different regional blocs in Africa? This study reviews the implication of FDI for different regional blocs in Africa....

Corporate Social Responsibility (CSR) is emerging debatable hot issue in the globalization era, when role of the Commercial Banks has been supporting to development of industry, trade and market. A large number of the Commercial Banks have been providing financial services by expanding...

This paper provides an analysis of Japanese hybrid factories in Australia in a context of labor relations aspect of the Japanese management and production system. The paper argues that the labor relations aspect of the Japanese system is the most successful transfer to Australia. In its second...

Rapidly growing developing economies have exported heavily and run current account surpluses. Empirical studies suggest that "learning-by-exporting" may be quantitatively large in developing countries and behind some of this dramatic growth. This paper explores if learning-by-exporting helps...

Rapidly growing developing economies have exported heavily and run current account surpluses. Empirical studies suggest that "learning-by-exporting" may be quantitatively large in developing countries and behind some of this dramatic growth. This paper explores if learning-by-exporting helps...

Rapidly growing developing economies are characterized by heavy exportation and current account surpluses. Empirical studies suggest that "learning-by-exporting" may be quantitatively important in developing countries and behind some of this dramatic growth. This paper explores if...

This paper provides a concise overview of Russia's economy. First, it describes the growth model of the past fifteen years and explains why that model is now exhausted. Secondly, it examines the reaction of the country´s leadership to the stagnating economy. Finally, to evaluate the feasibility...