We collect new data to assess the importance of supply-side credit market frictions by studying the impact of financial sector recapitalization packages on the growth performance of firms in a large cross-section of 50 countries during the recent crisis. We develop an identification strategy...

This book offers important new insights into recent advances and perspectives in the field of political economy of development in Southeastern European countries. In addition, it provides theoretical and empirical contributions to political economy of development in an international context....

Chapter 1: Introduction -- Chapter 2: The 1891-92 Crisis and Beyond -- Chapter 3: World War I and the 1920s Financial Crisis -- Chapter 4: The Estado Novo period: The 1930s and World War II -- Chapter 5: The Estado Novo period after World War II: The golden age of economic growth (1946-1973) --...

1. 30 Years after the Fall of the Berlin Wall: Trends and the Current State of Communism and Post-Communism in Europe and Asia -- 2. A Taxonomy of Post-Communist Economies after 30 Years of Reforms -- 3. The Central Asian Countries’ Economies in the Twenty-First Century -- 4. The...

1. Introduction -- 2. A Peripheral Finn in the Capital of Europe -- 3. Fire Brigade to Athens -- 4. Big Bazooka by Night -- 5. The Deauville Doomsday and Voldemort in Ireland -- 6. The Comprehensive Crisis Response -- 7. Summertime Blues in Italy -- 8. The Hour of Obama – and Don Camillo -- 9....

This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....

1. Introduction -- Part I. The “Party Period” Before the Crisis -- 2. The Costs and Benefits for Joining a Common Currency with Emphasis on Weaker Member States: The Pre-crisis Debate -- 3. Greece Before the Crisis: The Critical Years in Domestic Politics -- 4. IMF and EU Reports on Greece...

A Short Post-communist Economic History of Emerging Europe -- Pre-crisis Central Banking -- Bubbles Everywhere (the 2000s)Under the Clouds of the Subprime Crisis (July 2007 – September 2008)The Lehman Tsunami (September – October 2008) -- The “Rescue Team” and Rescue Package (October –...

It is not unusual for reforming socialist economies to relax wage controls without hardening budget constraints on enterprises or freeing consumer goods prices. This policy can be dangerously destabilizing. While higher wages permit workers to purchase more of some goods, they also tend to...

Chapter 1: Introduction -- Part I: Global Economic Crisis -- Chapter 2: The Road from Prosperity into the Crisis: The Long Cycle of Post-War Economic, Social and Political Development -- Chapter 3: The Systemic Nature of the Global Crisis and Some Principles for Tackling it -- Part II: Regional...