Political scientists and economists increasingly agree that institutions may influence economic growth, but there is little general agreement on what institutions tend to produce what consequences. We apply public choice insights for a theoretical analysis that may be termed “Madisonian”:...

Following the 1980s debt crisis a consensus has emerged that there is a debt threshold in the debt-growth relationship. This paper estimates the debt threshold empirically using endogenous threshold model proposed by Hansen (1996, 2000) and several other modelling strategies to check the...

This paper analyzes the process of real economic convergence in the New Member States (NMS) being formerly centrally planned economies, using nonparametric methods instead of conventional parametric measurement tools like beta and sigma models. This methodological framework allows the examining...

The paper estimates equations for regional income convergence in selected EU countries and their NUTS 3 level regions during the European Union pre-enlargement period (1995-2002), using both spatial and non-spatial approaches. There has been absolute income convergence between regions in both...

This article aims to answer the question of whether a membership in the European Union contributed to an accelerated economic growth of eleven Central and Eastern European (CEE or EU11) countries, including their real convergence to the economic development level of Western Europe (EU15). The...

Many structural changes have occurred in the European Union countries, for example, there have been changes in sectoral employment share, in the demand of goods due to technology, in trade patterns and in technology. These structural changes may affect the process of convergence. Most of the...

This paper concentrates on the central link between productivity and knowledge capital, and shifts attention from firms and industries to regions. The objective is to measure knowledge elasticity effects within a regional Cobb-Douglas production function framework, with an emphasis on knowledge...

In the present paper it will be pointed out with a panel data econometric model that government debt puts banking sector at stake since the volume of not performing loans goes up. The estimation of the model is made feasible through the Eviews software package. The present paper is based on...

The international economic debate on the Transatlantic Trade and Investment Partnership (TTIP) has focused mainly on trade induced real income gains while the FDI related and innovation induced benefits have been largely neglected, although the EU and the US are leading FDI host countries and...