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This paper provides an in depth analysis of Russia's recent growth, with a view to understanding the prospects for its continuation. It examines in detail the main drivers of growth, as well as the main developments and policies that have been underlying it. A key finding is that the role of the...
Persistent link: https://www.econbiz.de/10014068537
This paper provides an in depth analysis of Russia’s recent growth, with a view to understanding the prospects for its continuation. It examines in detail the main drivers of growth, as well as the main developments and policies that have been underlying it. A key finding is that the role of...
Persistent link: https://www.econbiz.de/10012445229
Building on the view that financial systems from contract and trading structures through regulation are artifacts of law and politics, this paper analyzes the fundamental reasons for the observed hierarchy in all financial systems. Why are financial systems hierarchical? The answer offered here...
Persistent link: https://www.econbiz.de/10010666140
euro in 1999 were initially both very successful solutions. The European integration process and the economic rise of the …, however, have encountered problems since the 1997/98 Asian Financial Crisis and the ongoing euro crisis since 2010. 2. Since … (EMU) have become apparent. The notion that the introduction of the euro and fiscal discipline alone would lead to economic …
Persistent link: https://www.econbiz.de/10014163943
complement—a digital euro—becomes increasingly necessary. Accordingly, the article concludes that the ECB is both entitled and … obliged de lege lata to issue a digital euro on the basis of Article 128 TFEU. It further explains that neither tangible cash … nor a digital euro can simultaneously be used as instruments in themselves to maintain price stability …
Persistent link: https://www.econbiz.de/10013230072
common currency - the euro - was at best minimal. This paper aims to show that, contrary to conventional wisdom, the crisis … in Europe is the result of an imbalance between core and non-core countries that is inherent in the euro economic model …
Persistent link: https://www.econbiz.de/10013112810
common currency - the euro - was at best minimal.This paper aims to show that, contrary to conventional wisdom, the crisis in … Europe is the result of an imbalance between core and noncore countries that is inherent in the euro economic model …
Persistent link: https://www.econbiz.de/10009407149