This paper is the fruit of an attempt to distinguish the elements, present in a fiscal decentralization process, that are likely to contribute to efficiency enhancement in the provision of social services in developing countries. From the methodological point of view, the paper makes an effort,...

This paper seeks to explain, why Russian (and CIS) economic transformation was neither a shock therapy nor a gradual transition case, but instead followed a sort of middle-ground inconsistent shock therapy path.

This paper reviews the experience of a heterogeneous group of developing countries in maintaining macroeconomic stability in the face of heavy capital flows.

As seen from the year 2001, economic policy in developing and post-socialist economies during the preceding 10-15 years had one dominating theme - external "liberalization" or the drastic lowering or removal of long-standing barriers to almost all international transactions in markets for goods...