The world is changing rapidly. The global economic crisis has called into question the political decisions that have been made by all countries for decades and has led to a re-formulation of tools and aims. Adjustments to the new situation are necessary and entail considerable economic and social costs. The Balkan and Black Sea area is an important reference point for the European and global economy. Accordingly, the study of the economic development in the area is of great interest, engaging politicians and scientists alike. Under this framework, the matter of the relation between the area's countries and the E.U., the role of the banking system and the importance of the primary sector of the economy as an important developmental factor for the countries' economies are of great importance.

Autorentext

Anastasios ****Karasavvoglou is a professor in economics, is the editor in chief of the International Journal of Economic Sciences and Applied Research and the president of the annual International Conference "The Economies of Balkan and Eastern Europe Countries in the changed world". He has published many books and papers regarding immigration, regional development and labour market.

Persefoni Polychronidou holds a PhD in Mathematics, has scientific interests in data analysis, in discrete transforms and realization of algorithms for fast processing data. She is assistant editor of the International Journal of Economic Sciences and Applied Research and has published several papers regarding empirical economic data.

Inhalt
European Union, Economic Relations and Macroeconomics: Origins of Foreign Direct Investment in Croatia: Application of an Expanded Gravity Model.- Balkan Area and EU-15: An Empirical Investigation of Income Convergence.- The Economic Relations of Bosnia-Herzegovina and FYROM with the Other States that Emerged from the Breakup of Yugoslavia Considering the Ohrid and Dayton Agreements.- The Impact of Inflation Targeting Policy on the Inflation Uncertainty in Turkey.- Fiscal Policy Under the EMU.- Finance and Banking: Central Banks Between Classicism and Modernity.- Credit Risk in the Romanian Banking System: Evidence from an ARDL Model.- Regional Policy, Rural Development and Information Society: Competitveness and Cohesion in the European Union: A Dilemma?- Local Cooperation: A Dynamic Force for Endogenous Rural Development.- Exploring Consumers' Purchasing Behaviour Regarding Organic Wine in a Convergence EU Region: The Case of East Macedonia and Thrace, Greece.- Information Society: Statistical Profiles and Development Stages.