Based on theory and on evidence from the Southern Cone the following paper concludes for emerging market economies (1) that fiscal reform is of utmost importance for macroeconomic reforms, (2) that credibility cannot be imported via a fixed exchange rate but has to be established by internal...

So far, economic analyses of NATO enlargement have been restricted to aspects of regional security while political analyses focused on indirect peace-building effects on democracy in the first place. Our panel regressions for 25 post-communist countries for the period from 1996 to 2008 reveal...

Based on theory and on evidence from the Southern Cone the following paper concludes for emerging market economies (1) that fiscal reform is of utmost importance for macroeconomic reforms, (2) that credibility cannot be imported via a fixed exchange rate but has to be established by internal...