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This paper provides an analysis of the influence of Information and Communication Technology (ICT) infrastructure, usage and skills on the export and import of goods and services in the region of South-East Europe (SEE) by applying gravity models to bilateral trade flows through the panel data analysis. The results show that GDP per capita and Internet usage have a significant positive impact on import, and in addition, the digital infrastructure and digital skills have a positive, but small impact on export. Distance has a negative impact on trade. These countries faced relatively poor development and usage of the ICT sector, which indicates unexplored potential which could be used to improve international trade if exploited by businesses, government and households. [ABSTRACT FROM AUTHOR]

The paper aims at analyzing the circumstances and objectives of the regional integration in the context of global development. The EU is one of the most influential and important actors of the global world, which represents one of the most developed examples of the regional integration. During the development, the EU went through the several stages on enlargement. Even nowadays, without having targeted to the reactive new member in foreseen future, the EU continues the process of integration of adjacent regions by setting goals and priorities through different forms such as the European Neighborhood, the Eastern Partnership, Association Agreements, various types of Trade agreements. The Eastern Partnership which represents the EU's eastern neighborhood consisting by former soviet republics has steadily gone up with integration: 1. Georgia, Moldova, and Ukraine have already signed the Association Agreement (AA) including Deep and Comprehensive Free Trade Areas (DCFTAs) with the EU and now these countries work on further progress in terms of the Implementation of AA/DCFTA; 2. Armenia and Azerbaijan are seeking new framework to up-grade their relationship with the EU, Belarus created EU Belarus Co-ordination Group and acts within the Single Support Framework program for 2017-2020. The evolution of EaP countries' trade data evidently show the changes and growing dynamics in the region. The obvious increasing tendency of trade volumes predicts for further success in the future after the DC FTAs are enacted fully for some countries and/or other trade facilitation measures are utilized fully for others. A new approach to the economic growth also suggests that benefit from economic growth supports poverty reduction, widely spreads across sectors and affects the majority of the labor force and hence, rise the welfare of the population. In this context, Corporate Social Responsibility (CSR) appears to be a useful tool to achieve this overwhelming goal. In the difficult business climate prevailing in most of the EaP countries, the role of the EU support could include raising awareness on CSR and supporting the implementation of relevant standards in the enterprises that are benefiting from the EU assistance. [ABSTRACT FROM AUTHOR]

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The European Union project initially started as a peaceful solution for war reconstruction in Europe. European countries decided to cooperate rather than compete in an aggressive way. At the beginning, this project supposed (involved) market liberalization, trade barriers removals, market access improvement (initially for coal, steel, energy and, later, for all goods, services, workforce and capital). Unfortunately, in the last decades, all these Single Market facilities have been backed by redistributive schemes, protectionist mechanisms, social engineering, subsidies and facilities packed in so-called "EU policies". New "European" institutions have been created, more and more funds have been involved to financially support this very complex redistributive intervention. The political dimension of the European Union project enhanced the economic dimension and constantly suffocated private markets and the economy. The "incomes" of the European Union that fuel its financial support are coming from taxes and/or inflation (better administered after the introduction of a Single Currency - the Euro). This paper will discuss the relevance of European Funds for economic development, especially for new members in this project. [ABSTRACT FROM AUTHOR]

An introduction is presented in which the editor discusses various reports within the issue on topics including the declining economic growth in Europe, the challenges in the reform of economic structure, and the impact of the decline in public investment on demand and infrastructure.

Information regarding several papers discussed at the "Europe 2020 - A European Strategy for Smart, Sustainable and Inclusive Growth" forum held in Brussels, Belgium on March 3, 2010 is presented. Topics include the research and innovation strategy which is part of the Europe 2020 strategy and measuring innovation through investments in research and development (R&D). The forum featured several contributors including Knut Blind, Luke Georghiou, and Mathias Dewartripont.

The processes of urban sprawl are very heterogeneous across Europe, much more than in the US. Rooted in the diverse history and cultures of European nations, they call for a European perspective on urban sprawl. The term is often used today rather negatively, typically to describe low density, inefficient, suburban development around the periphery of cities. Many of the definitions tend to emphasise the idea of urban sprawl being a type of urban form or a pattern of urbanisation, rather than a process of urban change that leads to undesirable urban development patterns, in which antisprawl policies must intervene. The aim of this paper is to provide a more general overview of the nature of residential urban sprawl in three case study cities of Central and Eastern Europe: Leipzig (Germany), Ljubljana (Slovenia) and Warsaw (Poland). Since 1990, these cities have experienced a major transformation of the economy, society, policies, and institutions. Despite some significant similarities between them, there are specific differences with respect to their post-socialist residential urban sprawl. Though very distinct with regard to their starting conditions at the end of 1980s, and the amount of investment during the transition period in 1990s, some general conclusions on residential patterns, causes, and consequences of urban sprawl in these cities are possible1. The study has its origins in a comparative research project examining aspects of European urban sprawl, undertaken within the EU FP 5 research project URBS PANDENS: Urban Sprawl: European Patterns, Environmental Degradation and Sustainable Development (2002-2005). [ABSTRACT FROM AUTHOR]

An examination of the affect that tax rates has on corporations decision to establish themselves in a country. The author notes that countries compete for business by lowering tax rates in order to appear more attractive to foreign investors and at the same time boost their own economy. The author examines tax levels in Europe from 1982-2006 and attempt to find empirical evidence that tax rates may influence a company's decision on where to locate themselves.

Institutional reforms in the countries of Central Eastern and South Eastern Europe (CESEE) brought about a redefinition of the role of the state, the market and the business sector. We assess the effects of various dimensions of the institutional environment on the labour productivity of manufacturing firms in selected CESEE countries by employing a multilevel model. Our findings reveal that the curbing of corruption and the provision of inter-industrial externalities through the development of a commercial and professional infrastructure have beneficial effects on firm productivity. At the same time, a stricter political and legal framework and the provision of R&D infrastructure have an adverse effect. Such a finding is typical for producers of standardised products in countries with low levels of legal framework development for which R&D and legal adjustments incur cost disadvantages. The implication is that institutional development should be accompanied by a strengthening of firms' absorptive capacity in order for businesses to benefit from such changes. [ABSTRACT FROM AUTHOR]

The paper presents an interesting analysis of the future economic development of EU countries, offering in the same time some comparisons with USA. Starting with an analysis of the annual dynamic rates of GDP for the EU countries, during 2000-2012, there are identified two periods which are important to consider them for scenarios of Strategy Europe 2020. The trajectories of future economic development until 2015 are extrapolated considering the average dynamic rates both for the period 2002-2007 also for 2002-2008. There are obtained two trajectories: an optimistic one based on average dynamic rate of the period 2002-2007 and a less optimistic the other based on the average dynamic rate during 2002-2008. An analysis of the relative positions of the countries depending on their GDP per capita and their development potential shows which scenario will be viable for the EU development until 2015. [ABSTRACT FROM AUTHOR]

The Bologna process aims at creating a European Higher Education Area where inter-country mobility of students and staff, as well as workers holding a degree, is facilitated. While several aspects of the process deserve wide public support, others are less consensual. The paper checks the extent of academic staff confidence in the restructuring of higher education currently underway, by looking at its implications in Romania. Based on six open-ended interview questions of 29 faculty members in Romania, the results of our study identify central themes associated with this relevant stakeholder group's perception of benefits and issues/challenges associated with the implementtation process. Most notably the themes of process planning, accreditation, lack of information, and unexpected results emerged as issues/challenges, while mobility, wider choice of programs, improved quality, and international standing were perceived as benefits. [ABSTRACT FROM AUTHOR]

This note argues that one should lay the focus of future European growth policy on integration and technology. This focus should be on maximising the growth effects of their interaction, with an emphasis on the importance of deep integration. The note provides three examples that show how deep integration has contributed to stop the relative economic decline in the UK vis-à-vis the EU founding members; how deep integration increased productivity in Sweden, Austria, and Finland compared to that in Norway; and how a key mechanism to advancements in the new EU member states has been the capacity of deep integration to generate institutional change. [ABSTRACT FROM AUTHOR]

A correction to the article "Misallocation, Big Time: Why (and How) Structural Reform Can Revive Productivity Growth in Europe" by Dan Andrews that was published in the September/October 2015 issue is presented.

The European Commission put forward its strategy for the 2010-2020 period in its Europe 2020 Communication. Inequality should be seen as a cornerstone of both sustainable and inclusive growth. In fact, unequal societies are also more unstable societies (i.e. unsustainable) and more polarised (i.e. exclusive). The analysis of available data and the established consensus in the literature shows four main stylised facts. [ABSTRACT FROM AUTHOR]

As economic inequality in Europe has continued to rise, it has become the subject of increasing academic attention. What are the drivers of inequality? How does it affect intergenerational economic and social mobility? At what point does inequality become a drag on economic growth or a threat to social order? What economic policy tools are available to reduce inequality? This Forum addresses these and other aspects of this complex and disturbing trend. Case studies of Ireland, Germany and Spain also highlight the impact of economic inequality on individual member states. [ABSTRACT FROM AUTHOR]

We document the development of the major international banks since the late 1990s, analyzing balancesheet data for 27 large and complex financial institutions. We argue that the balance-sheet expansion and business line diversification have paved the way for the rise of the universal banking model. This model, apparently sound and efficient in the run-up to the crisis, revealed all its shortcomings when the crisis erupted. European banks displayed greater fragilities in their business models. This changed financial and regulatory landscape that followed has challenged this model further. Many have proposed remedies to the global financial crisis and appear to consider returning to a narrower model for the banking activity. [ABSTRACT FROM AUTHOR]

Policymakers in the EU member states are currently shaping rescue packages to prevent the financial crisis hitting their economies with unmitigated force. Each government is responding to the emerging problems with a country-specific set of measures. Given the global nature of the crisis, would coordinated action at the European level not be a better approach? Was the German government — much-criticised for its initial reluctance to adopt massive fiscal stimulation measures — right after all to exploit the option value of waiting in a situation of high uncertainty? [ABSTRACT FROM AUTHOR]

It is possible to achieve faster rates of social growth, greater developement, a better standard of living and narrow the gap between rich and poor countries by changing a government's economic policies so that they emphasize investments in the developement of human potential. An increase in motivation, knowledge, levels of education and team organization, as well as a strengthening of citizens' moral, intellectual and social potential will, as the results of investigations quoted in this article show, bring faster growth of the Gross National Product (GNP). There is still a paradigm prevailing in south-eastern European countries to invest more in physical capital than in human capital. This paradigm is the reason that these countries continue to fall behind the most developed countries in the world. [ABSTRACT FROM AUTHOR]

In Europe, economic activity is concentrated more and more in the major urban centres. At the same time, these cities are in a competition with one another. Across Europe they are contending for investors and qualified workers and searching for the most successful path to a dynamic economic future. Which cities in Europe have made the greatest economic progress in the past? What are the factors that have made some cities more successful than others? And what action can cities take to achieve greater economic growth in the future? [ABSTRACT FROM AUTHOR]

Global economic development in recent decades has been characterised by a rapidly progressing intensification in world trade and the international division of labour. As a result of the expansive development of international merchandise trade, cargo shipping has been one of the fastest growing economic sectors. The progressive global integration processes, the future reduction in trade barriers and the expected increase in prosperity in numerous regions of the world will also call for a marked expansion in world trade and cargo shipping. This designates maritime logistics as an economic sector with favourable perspectives for development. What growth rates can be expected for EU maritime trade? And what impact will these have on Europe’s ports? [ABSTRACT FROM AUTHOR]

The article discusses the indispensability of subsidiarity test in Europe. The principle of subsidiarity requires all to reflect on what one want to do and not to. Such principle is said to be fundamental to the proper design of the Union and to the political legitimacy of its powers and activities. The test is set out for benefits of the relevant degree of centralization which includes four steps for the economic functions.

This article focuses on the economic growth in Europe. The Lisbon idea was born in the late 1990s out of the concern of Europe that it was falling behind the U.S. in terms of per capita income and the implementation of new technology on the one hand, and out of the optimism of the then dotcom revolution, which just had started to penetrate the EU economy, on the other. In macroeconomic terms, Europe has been undertaking even greater efforts to keep the economy on track than the U.S., especially regarding savings and investment.