Die Weltkonjunktur zeigt sich zu Beginn des Jahres 2006 weiter in robuster Verfassung. Zwar deutet sich für die Vereinigten Staaten an, dass die Geldpolitik allmählich die Nachfrage zu dämpfen beginnt; gleichzeitig haben sich aber die konjunkturellen Perspektiven für Japan und Europa...

Building on Vinhas de Souza (and Vinhas de Souza and Tudela), this chapter briefly describes the historical process of financial liberalization and integration of Baltic and Central European Countries (BCECs) since the 1990s. It investigates the hypotheses that the type of financial integration...

1. Introduction -- 2. Forgotten worlds: the stagflation of the 1970s -- 3. From Volcker to China: The “Great Moderation” begins -- 4. Houses made of sand: The “Global Financial Crisis” -- 5. Trojan horses: the long shadow of the euroarea sovereign crisis -- 6. COVID 19: the fiscal and...

Financial and capital liberalization can play a fundamental role in increasing growth and welfare. Typically, emerging or developing economies seek foreign savings to solve the inter-temporal savings-investment problem. On the other hand, current account surplus countries seek opportunities to...