In the present paper we analyse the emergence of the first federations in history, taking as an example the Achaean one. We analyse its structure decision making, institutions and finances. Then, we compare it to the present European Union and point out similarities and differences. Lastly, we...

This work aims to describe the common European principles for public administration identified by SIGMA, as well as the principles of good governance and the principles of good administrative behaviour necessary for a proper functioning of the public administration.

The article analyses the sectoral specialization of Bulgarian exports, making a comparison with the sectoral specialization of the EU as an entity and some of the new member states. It focuses on the question of whether Bulgaria's five years of EU membership contributed to the approximation of...

This paper investigates the effect of aggregate shocks on the fiscal stance of the EU, and of its old (OMS) and new (NMS) member states over a business cycle. The fiscal stance is measured by the government deficit. To study the impact of aggregate shocks, we use impulse responses derived from a...

The recent financial and economic crisis of the European Union had exposed the necessity to complete monetary union with an economic union. One of the assets of a stronger economic integration is the harmonization of the tax systems (e.g. the corporate tax regimes) of the 27 Member States....

The aim of this paper is to examine the impact on the banking system from the accession of Macedonia in the EU. EU enlargement is a complex process with enormous impact on the economy of the new member countries. The financial system of the new member country, and the banking system as a part of...

This conference volume discusses the pros and cons of early integration into the European Union of Eastern transition countries, given the information available at the turn of the century. The questions posed refer to the structural gap between accession countries (ACs) and the EU, the optimal...

This paper analyzes the growth effects of the Financial Services Action Plan (FSAP) of the European Commission, a set of measures and directives that aim to harmonize European financial markets. Using a panel of 25 countries and 30 industries, we find that the standard specification predicts...

The aim of the article is to compare 2008-2010 recessions in individual EU countries. For the comparison a new quantitative measure – recession magnitude scale – is used. The scale is derived from (negative) quarterly GDP growth rates during a recession and its duration. Moreover, recessions...

The borders of Central and Eastern Europe (CEE) today are the result of a complex process conducted decades after the fall of communist regimes in this part of Europe. With the opening towards the west, with the change of political and economic regimes came the implementation of democratic...