Do Free Trade Agreements with the EU Promise Higher Incomes for the Eastern Partnership Countries?

A year ago ( we analysed the real convergence during last two decades in both the 13 member states that joined the EU on or after 2004 and the EU Eastern Partnership countries (Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine). The new EU members that were relatively poor a generation ago showed more significant improvement […]

Is Postponing the EU Trade Agreement Harmful to Ukraine?

The Parliament of Ukraine and the European Parliament are both expected to ratify the EU-Ukraine association agreement in a simultaneous session today. However, last week it was announced that the entry into force of the deep and comprehensive free trade area (DCFTA) between the EU and Ukraine, initially planned for November of this year, will […]

Poland Says Russian Produce Ban Is Payback for Sanctions

By Andy Tully: Warsaw says Russia’s ban on most fruit and vegetable imports from Poland has nothing to do with food safety, as Moscow contends, but is political retaliation for new, tough Western sanctions on Russia, particularly its lucrative oil sector. Alexei Alekseenko, a spokesman for Russia’s Veterinary and Phytosanitary Surveillance Service, issued astatement on July 30, a […]

Russia Touts South Stream Pipeline as Europe’s Gas Lifeline

By Andy Tully: Russia is mounting a major publicity campaign in Europe for its proposed South Stream gas pipeline in an apparent effort to reassure its EU customers that they can rely on Russian gas for the indefinite future. The reason for Moscow’s public relations efforts is the continuing unrest in Ukraine. EU countries now […]

Turkey: Demystifying Erdoganomics

Before attempting to demystify Erdoganomics, I gues I should define it first: An invention of your friendly neighborhood economist, it refers to Turkish Prime Minister Recep Tayyip Erdogan’s idea that higher rates beget higher inflation. I was originally thinking about writing on this “interesting” theory for my June 2 Hurriyet Daily News (HDN) column, but […]

Doing Business with Putin’s Russia: Why it’s Dangerous to Trade with People who don’t Believe in Trade

I spent the 1990s teaching economics at a business school in Moscow. Our students were graduates of FizTech, Mekh-Mat, MIFI—the whole alphabet soup of science and technology schools that had fed the Soviet military-industrial establishment. These young men and women had degrees in things like “laser weapons platform design” that weren’t in much demand in […]

Central, Eastern, and South-Eastern Europe: Safeguarding the Recovery as the Global Liquidity Tide Recedes

By Reza Moghadam, Aasim M. Husain, and Anna Ilyina (Version in Türk) Growth is gathering momentum in most of Central, Eastern, and South-Eastern Europe (CESEE) in the wake of the recovery in the euro area. Excluding the largest economies—Russia and Turkey—the IMF’s latest Regional Economic Issues reportprojects the region to grow 2.3 percent in 2014, almost twice last year’s pace. […]

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