Under the Kyoto Protocol, transition countries are expected to become important players in the emerging market for greenhouse gas emission reductions, as they can reduce emissions at a relatively low cost. However, the attractiveness of the region as a supplier of emission reductions will not...

This paper is dedicated to the relationship between market development and democracy. We distinguish between contexts and preferences and ask whether it is true that the demand for democracy only emerges after a certain degree of market development is reached, and whether, conversely,...

This paper investigates the extent to which the financial sector in south-eastern Europe (SEE) responds to the needs of the local private sector. It does so through an analysis of the sources of finance used by enterprises when making fixed investments, and by looking at the level of banking...

This paper uses monthly data to examine the links between consumer confidence and real economic variables in Croatia, and it tests whether movements in the former contain predictive power for the latter. The results suggest that changes in consumer confidence help to explain retail turnover and...

Entrepreneurial activity is a key contributor to economic growth, innovation and the development of a market economy in transition countries. Data from the Life in Transition Survey reveal that financial sector development and access to credit are the most important drivers of entrepreneurship....

This paper examines the main policy and structural determinants of the intensity of competition at the enterprise level across transition economies, presenting new evidence based on an enterprise-level survey and a legal survey directed to both competition agencies and legal experts in the area...

The economies of central and eastern Europe and the former Soviet Union have traditionally been very energy intensive. Energy intensity (defined as energy use per GDP) has decreased in the course of transition, but progress has been uneven and most transition countries still use several times as...

This paper examines the different strategies adopted by individuals in transition economies to cope with labour market restructuring. Using micro-data from seven countries at different stages of transition, we focus on “active” coping strategies, in particular mobility and entrepreneurship....

This paper examines the performance of 515 banks in 16 transition economies for the years 1994-99 based on their public financial accounts. We first examine lending behaviour and probability distribution of bank profitability to determine whether these banks exhibit behaviour and performance...

We analyse the principal objectives and constraints of small and medium-sized enterprises (SMEs), using data from a survey of 437 owners and top managers (CEOs) of SMEs in Russia and Bulgaria. The CEOs display similar views and identify a small number of specific constraints as being the most...