Only recently, 20 years after transition to a market system, has Russia regained a similar production level it had achieved on the eve of transition in 1991. This may sound surprising, given its low productivity under central planning which dropped even l

Over 1.8 billion people, from Central Europe to East Asia, have been involved in the great systemic transformation to market economy, civic society and democracy. The process has brought mixed fruits. The diversification of the current situation is a resu

Progress in achieving institutional changes should be evaluated through the prism of their influence on the development abilities of the relevant country. In Poland, during 20 years of comprehensive systemic shift, GDP increased more than in any other postsocialist country. To judge the...

This paper explores the impacts of informatin technology investment on economic groth in a cross-section of 39 countries in the period 1980-95 by applying an explicit model of economic growth, the augmented version of the neoclassical (Solow) growth model.

Can the increasing signicance of knowledge-products in national income- the growing weightless economy-infuence economic development? Those technologies reduce "distance" between consumers and knowledge production This paper analyzes a model embodying such a reduction. The model shows how...

This paper reviews Finland.s growth strategy in the postwar decades. Finland was able to initiate an impressive mobilization of resources during this period, reflected mostly in a high rate of capital accumulation for manufacturing industries. This was achieved by an unorthodox combination of...

This paper reviews Finnish economic history during the 'long' twentieth century with a special emphasis on policies for equity and growth. We argue that Finland developed from a poor, vulnerable, and conflict-prone country to a modern economy in part through policies geared at both growth and...