The bulk of recent literature on foreign exchange interventions has overlooked the potential interdependencies that may exist between these operations and the conduct of monetary policy. This is the case even under inflation targeting and especially in emerging-market economies, because central...

The paper analyses the 20-year experience with transition in the SEE countries in a comparative framework, illustrating how these countries encountered difficulties in its implementation, despite having some of the best starting conditions in 1989 to impl

The goal of this study is to reveal the long-term trajectory of Russian economic development and to make predictions for the future. The study starts with a much discussed question: why Russia did worse economically during transition than most other countries in Europe and Asia? It is argued...

Researchers have linked sub-Saharan Africa.s (SSA) poor growth performance in recent decades to several factors, including geography, institutions, and low returns to investment. This literature has not yet integrated the research that identifies linkage

Although recent developments greatly increased interest in African land tenure, few models to address these issues at the required scale have been identified or evaluated. Rwanda.s nation-wide land tenure regularization programme is of great interest. A discontinuity design with spatial fixed...