This paper provides a critical assessment of the austerity measures that are being implemented in the crisis-stricken countries of the Eurozone, and in particular, the implications of internal devaluation for the Greek economy. The theoretical underpinnings and phases of internal devaluation are...

Τhe emergence of the neo-liberal doctrine in the European Union (EU), as this is reflected by the prevalence of monetarism and market deregulation, has spawned a wave of criticism to be leveled at the way national macroeconomic policies have been conducted, with more emphasis on the...

In the realm of macroeconomic theory, is well established that investment decisions play an instrumental role in the determination of the level of output and employment; nevertheless, little progress has been made in relation to the theoretical aspects of these decisions. This paper, inspired by...

The objective of this paper is to gain an insight into the Greek hyperinflation that occurred during the period 1941-1946. In doing so, a relatively novel data-set in conjunction with the bound testing approach to cointegration and error correction models developed within the autoregressive...

This study aims to explore the extent to which conventional methods used in the majority of relevant growth studies can successfully interpret the economic performance of a highly underdeveloped African country such as Sudan. Applying an ARDL boundstesting approach to cointegration proposed by...

By focusing on the relationship between fiscal policy and the trade account this study will attempt to provide an insight into the empirical merits of the relationship between government expenditures and imports. To this aim an ARDL cointegration approach has been applied for the first time to a...

In this paper we report on a composite index of international patent systems strength for 48 developing and industrialized countries annually from 1998 to 2011. Building upon earlier indices we develop a conceptual framework informed by transaction cost theory and derive measures which emphasize...

This paper investigates the effects of bank-specific and macroeconomic determinants of bank profitability, using an empirical framework that incorporates the traditional Structure-ConductPerformance (SCP) hypothesis. A panel data approach has been adopted and effectively applied to six Greek...

In the aftermath of the global financial turmoil the negative market sentiment and the challenging macroeconomic environment in Greece have severely affected the banking sector, which faces funding and liquidity challenges, deteriorating asset quality, and weakening profitability. This paper...