In this paper we extend the agglomeration model of Ciccone (2002) to the level of industry. We then test this model using panel data for six sectors on regional level data for 27 EU member states. Our results for the aggregate economy confirm the estimates of Ciccone (2002). For our full sample of countries the sectoral level results also indicate significant agglomeration effects, with the exception of agriculture. Considering differences in the extent of agglomeration effects between new and old EU member states, however, leads to the conclusion that agglomeration effects tend to be stronger...more

Economic consequences of the Georgian-Russian conflict (by P. Havlik and V. Astrov, pp. 1-11) Keywords: Georgia, Russia, conflict, war Countries covered: Georgia, Russia Topics: Macroeconomic Analysis, Forecasts and Policy EU Structural funds in Central and East European Countries (by R. Römisch, pp. 12-20) Keywords: structural funds, EU, NMS Countries covered: New EU Member States Topics: Regional Development Czechoslovak economic reforms in the 1960s (by O. Turek and M. Pick, pp. 21-25) Keywords: Czechoslovakia, economic reforms, socialism Countries covered: Czechoslovakia Topics: Oth...more

This paper analyses some of the main factors behind the recent rapid growth in the Commonwealth of Independent States (CIS) and the prospects for its continuation. Two approaches are used. The first approach uses growth accounting exercises to estimate the total factor productivity (TFP) growth of all transition economies and compare them with other fast-growing economies. The second approach uses panel regression to estimate the determinants of per capita and TFP growth for 90 countries. Both short-run and long run coefficients are estimated using fixed effects, random effects, and two stage ...more

Regional convergence in the NMS (by Roman Römisch, pp. 2-8) Countries covered: New EU Member States, European Union Topics: Regional Development EU membership – support and challenge to the competitiveness of the Polish and Romania economies (by Gábor Hunya, pp. 9-16) Countries covered: Poland, Romania Topics: International Trade and Competitiveness; Economic Integration The flawed logic of capital account liberalization (by Amitava Krishna Dutt, pp. 17-21) Countries covered: non specific Topics: Foreign Direct Investment Selected monthly data on the economic situation in ten transition co...more

The present study examines the economic development of the NUTS-2 level regions in the EU-27 from 1995 to 2003. It focuses on income and employment developments in the regions of the new EU Member States (NMS) and compares the results to the developments in the regions of Northern as well as Southern EU countries. As far as income developments are concerned the study concentrates on the convergence of regional incomes and the effects on the spatial distribution of the income per head, especially with regards to existing or evolving core-periphery patterns, as well as on the development of r...more

After the EU enlargement of May 2004, the exchange of agro-food goods between the EU 15 and the new member states (NMS) has accelerated considerably. In particular the expansion of Polish exports in 2005 resulted in the highest surplus registered by the NMS 4 (Czech Republic, Hungary, Poland, Slovakia) in the past decade. Lower production costs in agriculture, especially for labour, are a fundamental cause of Poland's success to date. Despite remaining net importers, the Czech Republic and Slovakia have also slightly improved their position on the EU agro-food markets. Hungary's great ambition...more

wiiw in 2005 and beyond (by Michael Landesmann, pp. 1-3) Countries covered: non specific Topics: Other Yet another Balkan state (by Vladimir Gligorov, pp. 4-7) Countries covered: Montenegro Topics: Regional Development Electricity efficiency in the new EU member states and the accession countries: convergence to Western European levels? (by Edward Christie, pp. 8-14) Countries covered: New EU Member States, European Union Topics: Energy; Economic integration China preparing for WTO deadline in banking (by Waltraut Urban, pp. 15-19) Countries covered: China Topics: International Trade an...more