The European Research Studies Journal [ERSJ] presents a selection of papers prepared by the academic network of global scholars working on a variety of theoretical and empirical issues in different countries. The main aim is to publish some major works of colleagues who are researching on a number of important issues ranging from theoretical and philosophical aspects of wealth and welfare [Swann], to the empirical analysis of international comparisons of consumption patterns[Stewart], analysis of solvency and welfare gains via free trade in the UK [Ghatak,A and Bhattarai,K], empirics of economic growth [ Daly,V and J.Siddiki] and agricultural development in newly industrialised countries like India [ S. Ghatak and J.Seale (jr.)and modern ,dynamic analysis of time-series data of financial markets of transitional economies of Eastern Europe [ Murinde, V. and S. Poshakwala and Harrissis et. al]. There is also a contribution on the effects of exchange rate regime on a member country like Greece within the European Union[Th. Stamatapoulos]. The contributors of the papers are distinguished economists from different parts of the world. Out of a large number of papers submitted, after evaluation by the editor and further scrutiny and recommendations by the independent panel of referees, nine papers have been selected for final publication in this special issue of the ERSJ. For the future, it is very much hoped that the publication of this special issue of the ERSJ will mark the international character of the ERSJ.