Currency crises have been recorded for a few hundreds years but their frequency increased in the second half of the 20th century along with a rapid expansion of a number of fiat currencies. Increased integration and sophistication of financial markets brought new forms and more global character...

This paper employs a standard Tobin-Markowitz framework to analyse the determinants of capital flows into the CIS countries. Using data from 1996-2006, we find that the Russian financial crisis of 1998 has had a profound impact on capital flows into the CIS (both directly and indirectly)....

This paper is after a difficult question: has banking grown too much in Europe? The difficultly of the question lies in the words “too much”, which require a normative answer. The authors took a stance on how much is “too much”, based on the needs of the real economy in Europe. To tackle...

In 2009, for the first time since the end of World War II, the world economy shrank. This resulted from the economic downturn in highly developed countries and surprised most economists. According to the IMF forecast published in spring 2008, GDP growth in these countries was expected to...

The paper is devoted to the problems of the impact of privatization on corporate governance formation in Poland. It discusses the dilemmas of choosing a model for privatization and corporate governance, legal background, mechanisms of corporate governance formation depending on a privatization...

This paper presents a cross-country comparative study of corporate governance forma-tion in four transition countries that differ significantly in the reform design, implementation, and outcome. The analysis showed that corporate governance formation in these countries is characterized by both...

The paper is devoted to formation of the modern corporate governance system in Kyrgyz Republic. The main factors that influence this process have been studied, e.g., legal background and practice of privatization; corporate and antimonopoly law; financial markets; stakeholders activities, etc....

The development of market economies in Central and Eastern Europe, and the imminent accession of some of these countries to EU membership, has only strengthened the view that corporate governance is of fundamental importance to the process of transition and to the economic regeneration and...

The purpose of the paper is to present the current state of knowledge on both theoretical models and empirical evidence of interrelations between emerging corporate governance mechanisms and ownership structure of privatized enterprises in post-Communist countries. Section 2 contains extensive...

The task of this paper is to provide information and analysis on the legal framework of privatisation and corporate governance in Poland and on secondary privatisation processes in Polish privatised enterprises, i.e. changes in ownership structure which are taking place after privatisation. The...