This paper deals with economic development in the Western Balkans, the effect of the European Union (EU) and its likely entrepreneurial sustainability. An 'EU Factor' has been introduced, as it indicates that further EU enlargement could have a positive significant impact on business and...

This paper illustrates why a tough fiscal policy in East Europe may be rethought. Western economic policy theories may be fashionable but sometimes fail when applied to transition economies. It is advanced a new proposal for guiding fiscal policy where top priority is given to the ratio...

This paper is about a perspective East-West European partnership in a framework of coordinated economic policies, especially monetary policy, and a single monetary authority. The data on inflation and the service sector used to test the degree of convergence of 15 European economies versus...

This paper investigates volatility spillover across crude oil market and wheat and corn markets. The corn commodity is taken here to assess the impact of change in demand for biofuel on wheat market. Results of multivariate GARCH model show evidence of corn price volatility transmission to wheat...

This analysis examines aggregation bias in the case of the interest rate pass-through in the Republic of Macedonia. By using bank-level data, the authors investigate whether there are heterogeneities and asymmetries in the size and speed of the adjustment of lending rates to changes in the cost...

This paper introduces readers to the Polish economy. This 38 million people growing market economy is the sixth country in Europe as for inhabitants and youngest country in Europe with some 50% of the population below 35 years. Therefore, Poland has a remarkable opportunity for new economic...