<DIV>The realities of mounting government debt, tax burdens, and an aging population raise serious concerns about the financial legacy confronting future generations. How great a fiscal burden will current policies leave to subsequent generations, and how might changes in those policies alter the...</div>

Fiscal positions of African countries have improved significantly during the past decade. Higher economic growth, better terms of trade, improved donor support notably through debt relief and better control of expenditure contributed to this improvement. But at the same time government revenue...

Many countries have experienced major economic changes since the mid-1980s as a result of the deregulation and liberalization of national financial systems—two key aspects of globalization—with some experiencing boom and bust in rapid succession. The small Northern European country of...

Das erwirtschaftete Bruttoinlandsprodukt eines Landes oder einer Region gilt als Indikator für den Lebensstandard in dem jeweiligen Wirtschaftsraum. In Ostdeutschland kann gegenwärtig das BIP je Einwohner nicht als Indikator für den erreichten Lebensstandard verwendet werden, da die...

This chapter is devoted to the widely debated topic of outsourcing of production and jobs from the Western EU member countries to the new member countries and also to the rest of the world. This trend is clearly visible in the manufacturing sector in the European Union. Outsourcing is mainly a...

This chapter discusses the current situation and economic outlook for 2005 for the European economy. As a main scenario, it is forecasted that GDP in the euro area will grow at about the same rate as in 2004, that is around 13/4 percent on average. The recovery remains fragile and depends on...

This chapter discusses the challenge to macroeconomic stabilisation in the ten new members of the EU during the convergence process posed by liberalised capital markets.The focus is on financial and currency fragility created by dangerously high volatility of capital flows and possible policies...

Authors of the Report on the European Economy 2005