Real convergence is the key economic challenge for the new EU Member Countries. The main growth area today is the 'new' entrepreneurial economy of creativity and innovation. But such an economy needs a financial structure capable of coping with the higher risk inherent in the 'new' economy. To...

Feasibility of a currency board type of monetary arrangement in transitional economies of Eastern Europe is a function of the size of the country and the nature of the financial sector in a country. For very small countries where financial services can be provided by subsidiaries of foreign...

A relationship between economic policy and economic growth is analyzed in the present paper. Special attention is paid to the situation in the countries still facing the heritage of central planning and real socialism. The focus is on privatization, internal and external price liberalization and...

Replaced with revised version of paper 02/22/08.

Energy for heating, cooling, lighting, mechanical power, and various chemical processes is a fundamental requirement for both daily life and economic development. The negative impact on the environment of current energy systems is increasingly alarming, especially the global warming consequences...

Distance-related costs have changed at different rates across categories of resource flows and across modes and media between 1960 and 1998. The cost of moving knowledge/information has dropped much faster than the costs of moving people or materials. The costs of processing and moving...

Industry came to South Carolina in the first half of this century to find cheap labor. By the 1990s, industry was coming in search of quality labor--a change whose pace accelerates as the decade of the nineties blends into the 21st century. Potential investors who raise inquiries with the...