China’s economic reforms have resulted in spectacular growth and poverty reduction. However, China’s institutions look … ill-suited to achieve such a result, and they indeed suffer from serious shortcomings. To solve "China puzzle" this paper … analyses China’s institution - a regionally decentralized authoritarian system. The central government has control over …

Exchange rate target zone models postulate that `in the absence of intervention' exchange rates are driven by their …. The possibility of policy intervention in foreign exchange markets, however, may lead to stochastic process switching: in … intervention may add to these stabilizing effects. On the other hand, in target zones which are imperfectly credible, policy …

exchange rate variability and intervention across countries. But OCA considerations affect exchange market pressures and … intervention in different ways. Exchange market pressures mainly reflect asymmetric shocks, while intervention largely reflects the …). Intervention and exchange market pressure also vary with the structure of the international monetary system. …

unemployment in five former communist economies and in the western part of Germany (a benchmark western economy) to examine the … economies with an otherwise similar and spatially close market economy is useful because it enables us to identify the main …

determined by geographic features. Using data collected after the transition to a market economy, we find no evidence of a …

Under communism, workers had their wages set according to a centrally-determined wage grid. In this paper we use new … economy. We use data from the Czech Republic because it is a leading transition economy in which the communist grid remained …

This paper examines the relationship between differences in civil society development under communism and divergence in … during the years immediately preceding the collapse of communism: 1985 to 1989 for Central and Eastern Europe and 1985 to … the collapse of communism is an important factor in explaining the nature and pace of market oriented reforms. …